The nation’s 40 wealthiest universities are growing their asset at a faster rate than those of other schools, according to a report to be published by Moody’s Investors Service.
The Wall Street Journal reports that the gains among those schools are attributed to strong investment performances and generous donors.
The 10 richest institutions held nearly one-third of total cash and investments at four-year schools in fiscal 2014, and the top 40 accounted for two-thirds. Topping the list by a wide margin is Harvard University, whose wealth is reported to be $42.8 billion.
A comparable wealth gap among four-year institutions existed before 2008, but it narrowed in the aftermath of nation's economic collapse as many top schools saw their assets fall. Since then, the institutions have rebounded. Schools on Moody’s top-40 list saw assets grow by 50 percent between fiscal 2009 and fiscal 2014, The Journal reports.