Strongest financial health – baccalaureate colleges

These 50 baccalaureate colleges rank highest by NACUBO Composite Financial Index (CFI), drawn from 344 institutions with reported data in the U.S. Department of Education data for FY2022-23 (IPEDS). California State Polytechnic University-Humboldt (Arcata, CA) leads at 9.4.

Institutions ranked by Financial Health Index (CFI).
#	Institution	Financial Health Index (CFI)
1	California State Polytechnic University-HumboldtCA · Public	9.4
2	Fisher CollegeMA · Private	8.8
3	Grove City CollegePA · Private	8.8
4	Hillsdale CollegeMI · Private	8.8
5	Taylor UniversityIN · Private	8.7
6	Berea CollegeKY · Private	8.6
7	Geneva CollegePA · Private	8.6
8	Saint Johns UniversityMN · Private	8.6
9	Carleton CollegeMN · Private	8.5
10	Augustana CollegeIL · Private	8.4
11	Indiana Wesleyan University-MarionIN · Private	8.4
12	Randolph-Macon CollegeVA · Private	8.4
13	Chipola CollegeFL · Public	8.3
14	College of the Holy CrossMA · Private	8.3
15	Occidental CollegeCA · Private	8.3
16	Oklahoma Baptist UniversityOK · Private	8.3
17	Austin CollegeTX · Private	8.2
18	Colorado CollegeCO · Private	8.2
19	Reed CollegeOR · Private	8.2
20	Virginia Military InstituteVA · Public	8.2
21	Ave Maria UniversityFL · Private	8.1
22	Grinnell CollegeIA · Private	8.1
23	Wilmington CollegeOH · Private	8.1
24	Berry CollegeGA · Private	8.0
25	Spelman CollegeGA · Private	8.0
26	The University of the SouthTN · Private	7.9
27	Indiana University-EastIN · Public	7.7
28	Indiana University-South BendIN · Public	7.7
29	Trinity UniversityTX · Private	7.7
30	Wellesley CollegeMA · Private	7.7
31	Wheaton CollegeIL · Private	7.7
32	Whitman CollegeWA · Private	7.7
33	Central Methodist University-College of Liberal Arts and SciencesMO · Private	7.6
34	Hamilton CollegeNY · Private	7.6
35	Kalamazoo CollegeMI · Private	7.6
36	The College of WoosterOH · Private	7.6
37	Williams CollegeMA · Private	7.6
38	Bryn Mawr CollegePA · Private	7.5
39	Florida SouthWestern State CollegeFL · Public	7.5
40	Saint Vincent CollegePA · Private	7.5
41	Skidmore CollegeNY · Private	7.5
42	University of Puget SoundWA · Private	7.5
43	Vincennes UniversityIN · Public	7.5
44	Virginia Wesleyan UniversityVA · Private	7.5
45	Pasco-Hernando State CollegeFL · Public	7.4
46	Pomona CollegeCA · Private	7.4
47	Amherst CollegeMA · Private	7.3
48	Indiana University-SoutheastIN · Public	7.3
49	Lafayette CollegePA · Private	7.3
50	Mount Holyoke CollegeMA · Private	7.3

The Composite Financial Index (CFI) is the NACUBO/accreditor balance-sheet health score. Bond-rating agencies track similar ratios. The CFI clamps and rewards reserves relative to budget size, so this list is limited to institutions with at least 1,000 undergraduates for comparability. A data ranking, not an Ibex endorsement or quality rating. Ranked solely on the metric named above using U.S. Department of Education data for FY2022-23 (IPEDS). Federal collections lag the current academic year, and some measures are no longer published at all, so the most recent figure is not always a recent one. Institutions that do not report this metric are excluded. Figures and peer context appear on each institution’s profile.

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Frequently asked

Which of these baccalaureate colleges ranks highest by NACUBO Composite Financial Index (CFI)?

California State Polytechnic University-Humboldt (Arcata, CA), at 9.4. It leads 50 institutions shown here, drawn from 344 with reported data.

How is this ranking calculated?

On one disclosed metric only: by NACUBO Composite Financial Index (CFI), from IPEDS, FY2022-23. Institutions that do not report the metric are excluded. It is a data ranking, not an Ibex endorsement, quality rating or reputation survey, and no part of it is estimated or AI-generated.

How current is the data?

This list is built from the College Scorecard release of June 10, 2026 and the newest IPEDS collections the tool uses, taking the most recent figure published for the metric it ranks: IPEDS, FY2022-23. Federal collections lag the current academic year by two to three years, so the newest published figure is not always a recent one. The release the leaderboard is dated on is printed under it.

Source: U.S. Department of Education, College Scorecard & IPEDS (each measure carries its own collection year; see the methodology), with NSF NCSES (HERD), the Clery Act & EADA collections, Census ACS, BLS Employment Projections, WICHE & the FSA Direct Loan Dashboard. Compiled by Ibex Insights. For informational benchmarking only, not financial, investment, or accreditation advice. See the methodology.