<p>National Liberal Arts Colleges</p>
<p>1 – US Army
2 – US Navy
3 – Williams
3 – Middlebury
5 – Wellesley
6 – Pomona
6 – Swarthmore
8 – Amherst
9 – Vassar
10 – Bowdoin
10 – Haverford
13 – Harvey Mudd
14 – Claremont McKenna
14 – Scripps
17 – Richmond
17 – Smith
19 – Washington & Lee
19 – Byrn Mawr
19 – Hamilton
19 – Bard
23 – Grinnell
24 – Carleton
24 – Wesleyan
26 – Colorado College
26 – Colgate
26 – Trinity
29 – Colby
29 – Davidson
29 – Lafayette
29 – Mount Holyoke
29 – Oberlin
29 – Franklin & Marshall
37 – Connecticut College
37 – Pitzer
40 – Macalester
40 – Sewanee U of South
40 – Bates
40 – Kenyon
46 – Bucknell
46 – Skidmore
48 – Holy Cross
48 – Occidental
48 – Union
52 – Furman
52 – Barnard
57 – Dickinson
57 – Gettysburg
61 – Whitman
68 – Centre College
75 – Rhodes</p>
<p>=========</p>
<p>*Note: Obtained from the 50 overall ranked USNWR National Liberal Arts Colleges</p>
<p>Financial Resources = Expenditures per student.
Financial resources are measured by the average spending per full-time-equivalent student on instruction, research, public service, academic support, student services, institutional support, and operations and maintenance (for public institutions only) during the 2008 and 2009 fiscal years. The number of full-time-equivalent students is equal to the number of full-time students plus one third of the number of part-time students. (Note: This includes both undergraduate and graduate students.)</p>
<p>We first scaled the public service and research values by the percentage of full-time-equivalent undergraduate students attending the school. Next, we added in total instruction, academic support, student services, institutional support, and operations and maintenance (for public institutions only) and then divided by the number of full-time-equivalent students. After calculating this value, we applied a logarithmic transformation to the spending per full-time-equivalent student, prior to standardizing the value. This calculation process was done for all schools. If a school submits fewer than two years of expenditures per student, then the average is based on the one year that is submitted. Higher expenditures per student score better in the ranking model than lower expenditures per student.</p>