Each university has its own philosophy and priorities. I’m a lower income student. My sister was accepted to USC, NYU, Barnard, Smith and Pomona. USC and NYU really piled on the lows, whereas Barnard, Smith and Pomona gave her mostly (or all) grants. It also doesn’t necessarily have to do with endowment. Barnard’s endowment is very small and yet they were incredibly generous. I also get the sense that USC and NYU “decide” who should get more grant aid, whereas the other colleges are more generous across the board.