Strongest financial health – master's universities

These 50 master's universities rank highest by NACUBO Composite Financial Index (CFI), drawn from 454 institutions with reported data in the U.S. Department of Education data for 2024-25. California State Polytechnic University-Humboldt (Arcata, CA) leads at 9.7.

Institutions ranked by Financial Health Index (CFI).
#	Institution	Financial Health Index (CFI)
1	California State Polytechnic University-HumboldtCA · Public	9.7
2	Wayland Baptist UniversityTX · Private	9.7
3	Everglades UniversityFL · Private	9.5
4	Lindsey Wilson UniversityKY · Private	9.4
5	Geneva CollegePA · Private	9.1
6	California State University-BakersfieldCA · Public	8.9
7	Worcester State UniversityMA · Public	8.9
8	Mercy UniversityNY · Private	8.8
9	John Brown UniversityAR · Private	8.7
10	Freed-Hardeman UniversityTN · Private	8.6
11	Asbury UniversityKY · Private	8.4
12	Indiana Wesleyan University-MarionIN · Private	8.4
13	Savannah College of Art and DesignGA · Private	8.4
14	Weber State UniversityUT · Public	8.4
15	Bellevue UniversityNE · Private	8.3
16	Oklahoma Baptist UniversityOK · Private	8.3
17	Universidad Politecnica de Puerto RicoPR · Private	8.3
18	California State University-NorthridgeCA · Public	8.1
19	Bay Path UniversityMA · Private	8.0
20	Berry CollegeGA · Private	8.0
21	Citadel Military College of South CarolinaSC · Public	8.0
22	New England Institute of TechnologyRI · Private	8.0
23	Indiana University-South BendIN · Public	7.9
24	Indiana University-EastIN · Public	7.8
25	La Sierra UniversityCA · Private	7.7
26	Troy UniversityAL · Public	7.7
27	Universidad Ana G. Mendez-Carolina CampusPR · Private	7.7
28	Hamline UniversityMN · Private	7.6
29	South Carolina State UniversitySC · Public	7.6
30	Southern New Hampshire UniversityNH · Private	7.6
31	Emporia State UniversityKS · Public	7.5
32	Lenoir-Rhyne UniversityNC · Private	7.5
33	Northwestern CollegeIA · Private	7.5
34	Indiana University-SoutheastIN · Public	7.4
35	Friends UniversityKS · Private	7.3
36	Johnson & Wales University-ProvidenceRI · Private	7.3
37	Kettering UniversityMI · Private	7.3
38	Chaminade University of HonoluluHI · Private	7.2
39	Point Loma Nazarene UniversityCA · Private	7.2
40	Saint Joseph's University - PhiladelphiaPA · Private	7.2
41	Cedarville UniversityOH · Private	7.1
42	Dordt UniversityIA · Private	7.1
43	Elmhurst UniversityIL · Private	7.1
44	Ithaca CollegeNY · Private	7.1
45	Marist UniversityNY · Private	7.1
46	Muskingum UniversityOH · Private	7.1
47	University of Maryland Global CampusMD · Public	7.1
48	Evangel UniversityMO · Private	7.0
49	University of New Hampshire College of Professional Studies OnlineNH · Public	7.0
50	Bentley UniversityMA · Private	6.9

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 2024-25; 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 master's universities ranks highest by NACUBO Composite Financial Index (CFI)?

California State Polytechnic University-Humboldt (Arcata, CA), at 9.7. It leads 50 institutions shown here, drawn from 454 with reported data.

How is this ranking calculated?

On one disclosed metric only: by NACUBO Composite Financial Index (CFI), from College Scorecard & IPEDS, 2024-25. 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 collection on disk, using the most recent figure each of them publishes for the metric it ranks: College Scorecard & IPEDS, 2024-25. 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.