<p>As usual, Berea (billion dollar plus endowment for only 1,500 students) and Berry are left out. Santa Clara also had close to a $700 million endowment.</p>
<p>Beyond a certain point, endowment per student is close to irrelevant - law of diminishing returns, and, in this economy, the more endowment spending per student, the more vulnerable the institution is to real decline in educational quality.</p>