<p>Where did the numbers for undergraduate and graduate students come from? If from the College Board, they do not include professional school students, which at schools like Chicago and Harvard can be substantial.
For example, the College Board site lists 4901 undergrads and 6623 graduate students at Chicago. The U of C’s website lists 5027 undergrads and 9820 graduate and professional school students.
If the professional school students are left out of the headcount, the effect would be to pump up the contributions for schools with wealthy professional schools while simultaneously shorting their denominator (number of students).
I do appreciate trying to look at this issue in different ways.</p>