BOSTON — The Big 5 schools are making huge savings on student loans and making big savings on faculty salaries.
The five largest public schools in the U.S. collectively made $1.4 trillion in student loans in the year ending June 30, according to a new report from the nonprofit nonprofit Alliance for Student Success.
The schools include historically black schools like Brown University and the University of Pennsylvania.
These institutions have the most students in the country and also have the highest student debt burdens.
The six smaller schools in this report include historically white schools like the University at Buffalo, Columbia University, University of Massachusetts Amherst, and Rutgers University.
These schools have smaller student populations and have lower average costs per student.
They also have more faculty members and less financial aid.
The four private schools in our report are public and private colleges, like University of Michigan, George Mason University, and the Massachusetts Institute of Technology.
These colleges are not publicly funded but they do provide tuition subsidies and aid to students who need it.
These schools are also smaller than the Big Five schools.
The Alliance for Graduate Student Financial Assistance estimates that the schools spent $7.3 billion on loans to help students with student debt.
The schools are collectively responsible for $1 trillion in loan debt, the report said.