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This is a selection made from among articles on Education Loans. For a permanent link to this article, or to bookmark it for future reading, click here.

Colleges and Universities

from: Kyle Besser

Except for the United States service academies and staff colleges, the federal government does not directly regulate colleges and universities, although it can give federal grants to them. The majority of public universities are operated by the states and territories, usually as part of a state university system.

Each state supports at least one state university and other states support many. California, for example, has three public higher education systems - the 11-campus University of California, the 23-campus California State University and the 109-campus California Community Colleges System.

Public universities often have a large student body with introductory classes numbering in the hundreds and some undergraduate classes taught by graduate students. Tribal colleges operated on Indian reservations by some federally recognized tribes are also public institutions.

Many private universities also exist. Among these, some are secular while others are involved in religious education. Some are non-denominational and some are affiliated with a certain sect or church, such as Roman Catholicism, with different institutions often sponsored by particular religious orders, or religions such as Lutheranism or Mormonism. Seminaries are private institutions for those preparing to become members of the clergy. Most private schools are non-profit, although some are for-profit.

Tuition is charged at almost all American colleges and universities, except the five federally sponsored service academies, which students attend free and receive a stipend in exchange for a service commitment in the U.S. armed forces after graduation. Public universities often have much lower tuition than private universities because funds are provided by state governments. Residents of the state that supports the university typically pay lower tuition than non-residents.

Students often use scholarships, student education loans or grants to help with the cost. Several states offer scholarships that allow students to attend free of tuition or at a lower cost, such as HOPE in Georgia and Bright Futures in Florida.

Most universities, both public and private, have endowments. A January 2007 report by the National Association of College and University Business Officers revealed that the top 765 U.S. colleges and universities had a combined $340 billion in endowment assets as of 2006. The largest endowment is that of Harvard University at $29 billion.

The majority of colleges and universities are coeducational. Single sex institutions were once more common. The number of women's colleges and men's colleges have dwindled in past years. Nearly all remaining single sex institutions are private liberal arts colleges.

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