Liberal arts colleges that have massive endowments

Or admission policies and practices that favor less financially needy applicants (even though the admissions reading may be need blind to an individual applicant’s financial aid application), so that relatively few financially needier applicants will be admitted and enroll (since their financial aid budgets are not unlimited). For example, both Michigan and Virginia consider “relation with alumnus” (legacy; Virginia considers it “very important”). Since alumni families mean college graduate parents, that correlates well to advantaged and less financially needy applicants, so their limited financial aid budgets can be generous to fewer financially needy students.