Strongest financial health — public universities

These 50 public universities rank highest by NACUBO Composite Financial Index (CFI), drawn from 468 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	9.7
2	Ferris State UniversityMI	9.7
3	California State University-BakersfieldCA	8.9
4	Worcester State UniversityMA	8.9
5	Indiana University-IndianapolisIN	8.8
6	Mississippi State UniversityMS	8.6
7	Georgia State UniversityGA	8.3
8	University of Puerto Rico-AguadillaPR	8.3
9	Virginia Military InstituteVA	8.2
10	California State University-NorthridgeCA	8.1
11	Citadel Military College of South CarolinaSC	8.0
12	Indiana University-South BendIN	7.9
13	Western Michigan UniversityMI	7.9
14	Clemson UniversitySC	7.8
15	Indiana University-EastIN	7.8
16	University of Puerto Rico-BayamonPR	7.8
17	Troy UniversityAL	7.7
18	University of Alabama in HuntsvilleAL	7.7
19	South Carolina State UniversitySC	7.6
20	University of KentuckyKY	7.6
21	Emporia State UniversityKS	7.5
22	East Tennessee State UniversityTN	7.4
23	Indiana University-SoutheastIN	7.4
24	University of Alabama at BirminghamAL	7.4
25	University of North Carolina at Chapel HillNC	7.4
26	Wright State University-Main CampusOH	7.4
27	University of FloridaFL	7.3
28	Florida International UniversityFL	7.2
29	University of Oklahoma-Health Sciences CenterOK	7.2
30	University of Maryland Global CampusMD	7.1
31	University of Virginia-Main CampusVA	7.1
32	Idaho State UniversityID	7.0
33	University of New Hampshire College of Professional Studies OnlineNH	7.0
34	University of Pittsburgh-Pittsburgh CampusPA	7.0
35	Francis Marion UniversitySC	6.9
36	The University of Texas at ArlingtonTX	6.9
37	The University of Texas at DallasTX	6.9
38	University of KansasKS	6.9
39	Florida State UniversityFL	6.8
40	Louisiana State University-AlexandriaLA	6.8
41	Northern Michigan UniversityMI	6.8
42	Purdue University-Main CampusIN	6.8
43	University at BuffaloNY	6.8
44	University of Minnesota-Twin CitiesMN	6.8
45	University of Wisconsin-MadisonWI	6.8
46	Indiana University-KokomoIN	6.7
47	University of Illinois Urbana-ChampaignIL	6.7
48	Lincoln UniversityPA	6.6
49	Massachusetts Maritime AcademyMA	6.6
50	Northwest Missouri State UniversityMO	6.6

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.