<p>“Endowment per student is really really irrelevant.”</p>
<p>Actually it tells how much money is potentially spent on students, something I would deem quite meaningful. A school with 500 K/ student and a school with 100 K/student clearly would have different abilities to meet student needs. The downside of looking only at endowment/student is the failure to take into account economies of scale for larger endowments.</p>