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You'll never get a clean comparison between schools unless you go with total spending divided by total students.
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But that would turn collegehelp's apparent intention (exposing bloat) on its head, since spending-per-student is considered positive (isn't it?). I think both are fairly close to nonsense (i.e., punishing support of students as well as rewarding the waste of huge endowments).
I'm curious about more meaningful (to me, at least) lists showing what undergrad schools accomplish, like average GRE (LSAT, MCAT, etc.) score divided by average SAT/ACT score. Comparing that to spending-per-student would be interesting!