Strongest financial health — master's universities

These 50 master's universities rank highest by NACUBO Composite Financial Index (CFI), drawn from 444 institutions with reported data in the most recent U.S. Department of Education release (2024-25). California State Polytechnic University-Humboldt (Arcata, CA) leads at 9.7.

#	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 CollegeKY · 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	Bellevue UniversityNE · Private	8.3
15	Oklahoma Baptist UniversityOK · Private	8.3
16	Universidad Politecnica de Puerto RicoPR · Private	8.3
17	Siena Heights UniversityMI · Private	8.2
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	Indiana University-South BendIN · Public	7.9
23	Indiana University-EastIN · Public	7.8
24	La Sierra UniversityCA · Private	7.7
25	Troy UniversityAL · Public	7.7
26	Universidad Ana G. Mendez-Carolina CampusPR · Private	7.7
27	Hamline UniversityMN · Private	7.6
28	South Carolina State UniversitySC · Public	7.6
29	Southern New Hampshire UniversityNH · Private	7.6
30	Emporia State UniversityKS · Public	7.5
31	Lenoir-Rhyne UniversityNC · Private	7.5
32	Northwestern CollegeIA · Private	7.5
33	Indiana University-SoutheastIN · Public	7.4
34	Friends UniversityKS · Private	7.3
35	Johnson & Wales University-ProvidenceRI · Private	7.3
36	Kettering UniversityMI · Private	7.3
37	Chaminade University of HonoluluHI · Private	7.2
38	Point Loma Nazarene UniversityCA · Private	7.2
39	Saint Joseph's University - PhiladelphiaPA · Private	7.2
40	Cedarville UniversityOH · Private	7.1
41	Dordt UniversityIA · Private	7.1
42	Elmhurst UniversityIL · Private	7.1
43	Ithaca CollegeNY · Private	7.1
44	Marist UniversityNY · Private	7.1
45	Muskingum UniversityOH · Private	7.1
46	University of Maryland Global CampusMD · Public	7.1
47	Evangel UniversityMO · Private	7.0
48	University of New Hampshire College of Professional Studies OnlineNH · Public	7.0
49	Bentley UniversityMA · Private	6.9
50	Francis Marion UniversitySC · Public	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 the most recent College Scorecard & IPEDS release, which lags the current academic year by 2–3 years. Institutions that do not report this metric are excluded. Figures and peer context appear on each institution’s profile.

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Source: U.S. Department of Education — College Scorecard & IPEDS (most recent release, 2024-25), with 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.