Does the endowment size directly correlate with generosity of financial assistance?

Based on a few quick google searches and my general impressions from reading CC threads:

  • NYU has a $4 billion endowment and is famous for being stingy.
  • USC has a $5.5 billion endowment, but I haven’t heard of them being very generous.
  • WashU STL has a $7.5 billion endowment and they have the wealthiest student body in the country, so clearly they’re not giving out that much money (although some will claim otherwise).
  • The UCs and Pitt are two public schools known for poor merit aid out-of-state, but they both have multi-billion dollar endowments. However, since they’re public schools, their endowments are harder to determine (since their budgets depend on the state’s budget, and the money is distributed through the entire system), and also less useful as a benchmark (since there’s more students to distribute the money to).