That's thanks to strong investment returns and a tremendous fundraising advantage, according to credit rating agency Moodys.
Eighteen of the wealthiest schools have Aaa credit ratings -- that's a rare achievement for any businesses or government.
The top 40 include seven of eight Ivy League schools - all but Brown University - along with prestigious institutions such as Stanford, MIT and Duke. But half of the wealthiest schools were state schools, led by the universities of Texas, California and Michigan.
