The richest public universities in the country boast endowments above 10 figures, placingthem in the upper echelon of higher education.Texas A&M University at College Station, for example, has an endowment of $10.52 billion, not only making it the wealthiestpublic university in America, but also the sixth wealthiestamongall universities, right behind MIT and Princeton.Whether public or private, university endowments support a school's operating budget and help it invest in its future, from providing scholarships and financial aid to funding research and other initiatives. The richest colleges, frequently the most prestigious, can offer more of these opportunities to their students and community, giving them a leg up in recruitment and helping them burnish their academic reputation.The National Center for Education Statistics (NCES),an organization under the US government that collects and analyzes education data, provided Business Insider with the most recent figureson US college endowments (the fiscal year ending in October 2014). Italso provided itsmost recent data on the annual cost for a student to attend each college while living on campus.The following 12colleges eachhave endowments of more than $2.4 billion, making them the richest public universities in America.Additional reporting by Alex Morrell.DON'T MISS:The 20 wealthiest private colleges in AmericaSEE ALSO:The 30 richest colleges in America12. Purdue UniversityLocation:West Lafayette, IndianaEndowment: $2.45 billionTuition: $23,002 (in-state); $41,804 (out-of-state)Purdue University is home to the country's best undergraduate biological and agricultural engineering program.Discovery Parkthe school's 40-acre collaborative research hub with more than $1 billion in research investmentsis a leader inseveral areas fromcancer treatment and drug discovery to environmentaland STEM learning.11. Michigan State UniversityLocation:East Lansing, MichiganEndowment: $2.55 billionTuition: $25,350 (in-state); $47,115 (out-of-state)MSU was founded as a land-grant university and thefirst US institute of higher educationto teach scientific agriculture.The school now offers 15 majors focused on environmentalism and reports that it's one of thetop-five campuses for sustainability.10. University of North Carolina at Chapel Hill Location:Chapel Hill, North CarolinaEndowment: $2.66 billionTuition: $25,650 (in-state); $50,732 (out-of-state)In the late 18th century, UNC Chapel Hill became the first public university in America to award degrees. Today, it's revered as one of the best public colleges in the nation for its accomplishments in research, innovation, and healthcare. The school whichis part of the 16-school UNC systemalso boasts a top-rated undergraduate business program with specialties in marketing, management, and finance. See the rest of the story at Business Insider
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