<p>grad06, you are absolutely right, and my son did not apply to Swat vs other LACs only because of the higher endowment. He was aware of it and it was a reassuring factor, but mostly he likes Swarthmore, and that is why he wanted to go there.</p>
<p>I think if you are looking at schools of similar size that have a MUCH larger endowment, that factor may make a difference, but maybe not, because, for instance, they could have unique programs, religious affiliations, locations, etc., and have a lower endowment but still really appeal to students. I wouldn’t think Swarthmore would be the best place for Marine Biology. Some of those schools may also have dedicated funds for various programs, anyhow. In addition, the large endowment doesn’t make Swat or other schools cheap, and other schools that provide excellent educations can be much cheaper.</p>
<p>Per your statement: “I know next to nothing about higher education, but it seems to me that when dealing with top schools that all have enormous endowments, an endowment is more an indicator of how financially successful the alumni have been, and how willing they have been to give back instead of necessarily how good the education will be.”</p>
<p>It may also reflect how well the endowment is handled by the financial advisors, but that is a whole other story. Having a very large group of rich alums (see Harvard and Yale) also helps over the years. Lots of very rich students pretty much went only to a few schools for generations, so imagine that wealth!</p>