University of the People
Pasadena, CA · official site ↗
Private nonprofitMaster's, Larger ProgramsMedium
1
Fin. Resilience
Resilience score
vs. 157 peers in its group
University of the People is a private nonprofit institution in Pasadena, CA, classified by Carnegie as “Master's, Larger Programs.”
It enrolls about 22,688 undergraduates and is benchmarked here against 157 peer institutions (Master's, Larger Programs · Private nonprofit).
On Ibex's Financial Resilience score it rates 1 out of 100 within that peer group, a transparent composite of endowment per undergraduate, net tuition revenue per student, and instructional spend per student.
Its strongest standing relative to peers is enrollment momentum (cagr) (35.9%, 100th percentile).
Its weakest is endowment (end of year) ($1.6M).
Peer group
Master's, Larger Programs · Private nonprofit
157 institutions
No cross-metric risk flags triggered.
Policy & demographic exposure
How exposed University of the People is to the structural shifts reshaping higher ed: a composite structural-risk index plus the 2025 federal budget law’s endowment excise tax, Grad PLUS elimination, new Parent PLUS borrowing cap and new Workforce Pell short-term-credential opportunity, and the demographic enrollment cliff. Only signals that apply to this institution are shown.
Structural risk indexAn indicative 0–100 structural-risk index (higher = more pressure) blending operating margin, months of cash cushion, tuition dependency and the home-state enrollment cliff. Screens for the financial and demographic strain that precedes closures and mergers, directional, not a prediction.
81
HighEnrollment cliff (home state)Projected change in the institution's home-state high-school graduates from 2025 to 2041 (WICHE). The U.S. total falls about 13%; a directional feeder-market signal, not an enrollment forecast.
-27.7%
Severe declineIndicative signals, not forecasts, see each metric’s definition and the methodology. Endowment-tax, Grad PLUS, Parent PLUS and Workforce Pell figures appear only where the institution is actually exposed; “nationally” compares against all schools that report each signal.
Turn these signals into action
Seeing exposure is step one. Ibex builds AI agents that monitor and act on exactly these pressures, explore an interactive demo. Live demos run real workflows; the rest are working mockups we build to your institution’s data.
Financial Health Index
2.0
on a −4 to 10 scale
Primary reserve 55%0 mo
Return on net assets 30%8%
Operating result 15%7%
Composite of four ratios on a strength-factor scale (−4 weak → 10 strong): below 3 falls short of the threshold for financial health, below 1 signals acute stress, and above 6 is strong. Computed from IPEDS FY2022-23, the most recent finance release (it lags the current year by 2–3 years). Branch campuses that report finances at a parent/system level can show distorted ratios. For informational benchmarking, not a credit rating or financial advice.
Revenue composition
Where the money comes from
$19.3M total revenue · IPEDS FY2022-23
Tuition & fees is the largest single source at 72% of revenue.
Tuition & fees72.2%
Private gifts & grants27.6%
Investment return0.2%
Where each dollar of revenue comes from, as a share of total positive revenue. Sources are standardized across public (GASB) and private (FASB) reporting; a net investment loss in a down market is shown as 0% and excluded from the mix.
Financial Health
Net tuition revenue / FTETuition revenue per full-time-equivalent student after institutional aid/discounts, what tuition actually nets.
Below peers
$549
1st percentile in peer grouppeer median $16,519
157 peers
Instructional spend / FTESpending on instruction per FTE student, how much of the budget reaches the classroom.
Below peers
$199
1st percentile in peer grouppeer median $9,612
157 peers
Endowment (end of year)Total endowment value at year end, long-term invested wealth that funds operations and cushions shocks.
Below peers
$1.6M
1st percentile in peer grouppeer median $65.6M
153 peers
In-state tuition & feesPublished in-state tuition and fees before aid (sticker price).
$1,400
1st percentile in peer grouppeer median $38,895
150 peers
Out-of-state tuition & feesPublished out-of-state tuition and fees before aid (sticker price).
$1,400
1st percentile in peer grouppeer median $38,895
150 peers
Endowment per undergradEndowment divided by undergraduate headcount, endowment wealth behind each undergrad.
Below peers
$69
1st percentile in peer grouppeer median $37,202
151 peers
Operating marginNet surplus as a share of total revenue, whether the institution runs in the black.
Thin
4%
57th percentile in peer grouppeer median 0.6%
FY2022-23148 peers
Net surplus as a share of total revenue (IPEDS FY2022-23): (total revenues − total expenses) ÷ total revenues. A surplus above 4% is strong; a thin surplus near 0% leaves little margin for shocks.
Tuition dependencyTuition's share of total revenue, how exposed the budget is to enrollment swings.
72.2%
77th percentile in peer grouppeer median 60.3%
FY2022-23148 peers
Tuition & fees as a share of total revenue (IPEDS FY2022-23). Higher = more exposed to enrollment swings.
Tuition discount rateInstitutional grant aid as a share of gross tuition (IPEDS, private nonprofits only) – the tuition-discount rate. The share of sticker tuition handed back as aid; a high rate (the national average is ~56%) signals heavy price competition for students.
Moderate
0%
2nd percentile in peer grouppeer median 39.2%
FY2022-23152 peers
Institutional grant aid as a share of gross tuition & fee revenue (IPEDS FY2022-23, FASB): allowances applied to tuition ÷ (net tuition revenue + those allowances) – the tuition-discount rate enrollment leaders track, i.e. the share of sticker tuition handed back as institutional aid. Private nonprofit institutions only; public (GASB) institutions report tuition differently and are not shown. The national private-college average is roughly 56% (NACUBO); above ~60% signals heavy price competition.
State appropriations shareState appropriations' share of total revenue, material for public institutions, near zero for private.
0%
84th percentile in peer grouppeer median 0%
FY2022-23148 peers
State appropriations as a share of total revenue (IPEDS FY2022-23). Material for public institutions; ~0 for private.
Months of operating cushionMonths of operating expenses covered by expendable reserves, the institution's cash cushion.
Thin
0 mo
5th percentile in peer grouppeer median 10.1 mo
FY2022-23147 peers
How many months of operating expenses the institution could cover from expendable reserves (IPEDS FY2022-23 primary reserve ratio × 12). About 5 months, one semester, is the accreditor benchmark for solid footing; below ~3 months is thin. A negative figure means expendable reserves are themselves negative.
Return on net assetsChange in net assets over the year, whether the institution grew wealthier.
Strong
8%
85th percentile in peer grouppeer median 0.9%
FY2022-23147 peers
Change in total net assets ÷ net assets (IPEDS FY2022-23) – whether the institution grew wealthier over the year. 2–4% is adequate; above 4% is strong.
Endowment per FTE studentEndowment per full-time-equivalent student, the FTE-correct measure of endowment wealth per student.
Below peers
$76
1st percentile in peer grouppeer median $24,354
FY2022-23153 peers
End-of-year endowment ÷ 12-month FTE enrollment, endowment wealth per full-time-equivalent student. The FTE-correct companion to endowment-per-undergraduate; FTE counts graduate and part-time load, so research universities look less wealthy on this basis than on a headcount basis.
Spent on instructionInstruction as a share of total functional expenses (private-nonprofit reporting).
24.3%
10th percentile in peer grouppeer median 34.1%
2024-25152 peers
Instruction spending divided by total functional expenses (IPEDS Finance, FY2022-23 (FASB)). 'Where the money goes' context, reported here for private-nonprofit (FASB) institutions only, where the functional split is comparable; not computed for public or for-profit institutions. Higher is not automatically better; research universities and those with hospitals or large auxiliaries spread spending across other functions.
Spent on student servicesStudent services as a share of total functional expenses (private-nonprofit reporting).
5.2%
3rd percentile in peer grouppeer median 19.7%
2024-25152 peers
Student-services spending (admissions, registrar, student life, counseling) divided by total functional expenses (IPEDS Finance, FY2022-23 (FASB)). Private-nonprofit (FASB) institutions only. Spending-mix context, not a quality measure.
Spent on academic supportAcademic support as a share of total functional expenses (private-nonprofit reporting).
13.7%
86th percentile in peer grouppeer median 8.6%
2024-25152 peers
Academic-support spending (libraries, academic computing, deans' offices) divided by total functional expenses (IPEDS Finance, FY2022-23 (FASB)). Private-nonprofit (FASB) institutions only. Context, not a quality measure.
Spent on researchResearch as a share of total functional expenses (private-nonprofit reporting).
0%
60th percentile in peer grouppeer median 0%
2024-25152 peers
Research spending divided by total functional expenses (IPEDS Finance, FY2022-23 (FASB)). Private-nonprofit (FASB) institutions only; near zero at teaching-focused colleges and sizeable at research universities. Spending-mix context, not a quality measure.
Structural risk indexAn indicative 0–100 structural-risk index (higher = more pressure) blending operating margin, months of cash cushion, tuition dependency and the home-state enrollment cliff. Screens for the financial and demographic strain that precedes closures and mergers, directional, not a prediction.
High
81
– percentile in peer group
2024-25148 peers
An indicative 0–100 structural-risk index (higher = more pressure), an equal-weight blend of the stress signals we measure: thin or negative operating margin, low months of operating cushion, high tuition dependency, and a shrinking home-state high-school-graduate pipeline (enrollment cliff). Averaged over whichever signals are available (at least two required). It screens for the financial and demographic pressures that precede closures and mergers, a directional indicator, NOT a prediction that any institution will close, and not a credit rating.
Graduation & completion
Graduation rate · first-time, full-time
33.5%
33.5% graduate within 6 years (150% of normal time)
17% on-time, within 4 years (100%)
Counts only students who entered full-time as first-time freshmen and earned a bachelor's here, the conventional headline rate. Excludes part-time entrants and transfer-ins.
Completion rate · all students
–
Not reported for this institution.
Why two numbers? They measure different students over different windows, so they are not directly comparable. The graduation rate is the standard federal headline but tracks only first-time, full-time students through a bachelor's; the all-students completion rate adds the part-time and transfer students it leaves out, over a longer window. Read each for what it covers. Source: U.S. Department of Education, IPEDS Graduation Rates & Outcome Measures, via College Scorecard.
Enrollment & Pipeline
Undergraduate enrollmentNumber of degree-seeking undergraduates (IPEDS fall headcount). A size measure, not a quality signal.
22,688
99th percentile in peer grouppeer median 2,199
155 peers
Graduation rate (6-yr · first-time, full-time)Of first-time, full-time freshmen, the share who earn a bachelor's at this institution within six years (150% of normal time) – the conventional headline graduation rate. It counts only first-time, full-time students and excludes part-time entrants and transfer-ins, who are captured instead by the all-students completion rate.
Below peers
33.5%
7th percentile in peer grouppeer median 58.8%
149 peers
Graduation rate (4-yr on-time · first-time, full-time)Of first-time, full-time freshmen, the share who earn a bachelor's within four years (100% of normal time) – the 'on-time' rate. It runs well below the six-year rate because many students take a fifth or sixth year; same first-time, full-time cohort as the six-year rate.
Below peers
17%
9th percentile in peer grouppeer median 47.9%
149 peers
Pell recipient shareShare of undergraduates on a federal Pell Grant, a proxy for the share from lower-income families.
0%
1st percentile in peer grouppeer median 32.8%
155 peers
Adult learners (25+)Share of undergraduates aged 25 or older.
72.9%
91st percentile in peer grouppeer median 12.5%
2024-25155 peers
Share of undergraduates aged 25 or older (College Scorecard, FY2024-25). Read as context on the student mix: schools serving many working adults look different on persistence and part-time measures than traditional-age campuses, and neither is inherently better.
Part-time undergraduatesShare of undergraduates enrolled part-time.
34.5%
86th percentile in peer grouppeer median 7.9%
2024-25155 peers
Share of undergraduates enrolled part-time (College Scorecard, FY2024-25). Context, not quality: a high part-time share is common at community and commuter institutions and affects graduation-rate comparisons, which are based only on full-time, first-time students.
Women (share of undergraduates)Share of undergraduates who are women.
47.4%
13th percentile in peer grouppeer median 58.9%
2024-25155 peers
Share of undergraduates who are women (College Scorecard, FY2024-25). Reported as context on the student mix, not a measure of quality.
Transfer-out rateShare of students who transfer to a different school within the tracking window. Shown as context, not quality.
1%
41st percentile in peer grouppeer median 10.8%
2024-25149 peers
Share of students who transfer OUT to a different institution within the tracking window (College Scorecard, FY2024-25). Reported as context, not a quality measure: it runs high at access-oriented schools and two-year feeders whose students routinely move on to a four-year program, and it should be read together with the completion and retention figures rather than on its own.
12-month FTE enrollmentFull-time-equivalent enrollment over the full year, the denominator for per-student finance measures.
20,686
99th percentile in peer grouppeer median 3,129
2022-23157 peers
Full-time-equivalent enrollment over the full 12-month year (IPEDS 12-month enrollment, 2022-23). Counts part-time students at their fractional load, so it runs above fall full-time headcount and is the denominator used for per-student finance measures.
Student-faculty ratioStudents per instructional faculty member, lower usually means smaller classes and more contact.
27:1
99th percentile in peer grouppeer median 13:1
2022-23155 peers
Students per instructional faculty member (IPEDS, fall 2023). Lower generally means smaller classes and more faculty contact, though the measure mixes undergraduate and graduate teaching and is institution-reported.
Fully online studentsShare of students enrolled exclusively in distance-education (online) courses.
100%
100th percentile in peer grouppeer median 19%
2024-25157 peers
Share of students enrolled exclusively in distance-education courses (IPEDS, Fall 2023). Describes delivery model, not quality; online-heavy institutions look different on residential measures.
Applicant-pool diversity shiftProjected change in the non-white share of the home state's public high-school graduating class, class of 2025 to 2037.
+5%
– percentile in peer group
WICHE 2024 (11th ed.)154 peers
Percentage-point change in the non-white share of the institution's home-state public high-school graduating class between the class of 2025 (the national peak) and 2037 (WICHE, Knocking at the College Door, 11th ed., public-school race detail). A forward look at who the future applicant pool will be: a positive value means the state's graduating class is projected to grow more racially diverse. Strategic recruiting context, not a forecast of any one school's enrollment, and a college recruits from many states.
Enrollment cliff (home state)Projected change in the institution's home-state high-school graduates from 2025 to 2041 (WICHE). The U.S. total falls about 13%; a directional feeder-market signal, not an enrollment forecast.
Severe decline
-27.7%
– percentile in peer group
2024-25154 peers
Projected change in the number of high-school graduates in the institution's HOME STATE from the class of 2025 (the national peak) to 2041, per WICHE's Knocking at the College Door, 11th Edition (Dec 2024). The 'enrollment cliff' is the post-2008 birth decline reaching college age; the U.S. total is projected to fall about 13% over this window. A college recruits from many states, so its home-state projection is an indicative directional signal of feeder-market pressure, not a forecast of that institution's own enrollment.
Enrollment momentum (CAGR)Enrollment momentum (CAGR).
Strong
35.9%
100th percentile in peer grouppeer median -1.8%
2024-25155 peers
Compound annual growth rate of undergraduate enrollment over the years the tool tracks (College Scorecard, roughly 2016-2024). Positive means the school is growing; negative means it is shrinking, the leading indicator of demand stress ahead of the demographic cliff. Banded against the school's peer group.
Net-price momentum (CAGR)Net-price momentum (CAGR).
Below peers
4.1%
92nd percentile in peer grouppeer median 1.1%
2024-25157 peers
Compound annual growth rate of net tuition revenue per full-time-equivalent student over the tracked years. A high positive rate means the school's real net price is climbing faster than peers, which can strain affordability and yield. Banded against the school's peer group. Lower is better.
States recruited fromNumber of distinct US states sending at least one first-time student.
Below peers
12
22nd percentile in peer grouppeer median 20
Fall 2022148 peers
How many distinct US states the school's first-time degree-seeking class is drawn from (IPEDS Residence & Migration, Fall 2022). A higher count signals broader geographic reach and less dependence on any single state's shrinking pool of high school graduates; a low count means the school recruits from a narrow region and is more exposed to that region's demographic decline. Banded against the school's peer group.
Foreign first-time shareShare of first-time students whose legal residence is a foreign country.
86.2%
100th percentile in peer grouppeer median 0.9%
Fall 2022150 peers
Share of the school's first-time degree-seeking class whose legal residence is outside the United States (IPEDS Residence & Migration, Fall 2022). A measure of international reach in the entering class. Neither high nor low is inherently better; it is context for tuition-revenue mix and exposure to visa and geopolitical risk. Banded against the school's peer group.
Direct competitors within 100 miNumber of same-type institutions (same Carnegie class and control) within 100 miles.
Average
7
61st percentile in peer grouppeer median 5
2024-25157 peers
How many institutions of the same type (same Carnegie classification and control, i.e. the schools competing for the same students) sit within roughly 100 miles. A higher count means a more crowded local market and a harder yield fight, which matters most as the regional pool of high school graduates shrinks; a low count means the school has its catchment largely to itself. Distance is straight-line from campus coordinates. Banded against the school's peer group. Fewer is better for recruiting leverage.
Hybrid (some online) enrollmentShare of students enrolled in some but not all courses online (hybrid), Fall 2023.
0%
6th percentile in peer grouppeer median 22%
Fall 2023157 peers
Share of all students taking some, but not all, of their courses at a distance (IPEDS, Fall 2023). This is the hybrid middle ground between the fully online share and the fully in-person share, and it signals how far a school has moved coursework online without going exclusively remote. Context metric, not better or worse. Banded against the school's peer group.
Transfer-in share (undergraduate)Transfer-in students as a share of undergraduate enrollment, Fall 2023.
0.8%
2nd percentile in peer grouppeer median 7.5%
Fall 2023155 peers
Transfer-in students as a share of all undergraduates (IPEDS, Fall 2023). A high share means the school depends on transfer pipelines rather than first-time freshmen, which changes both recruitment strategy and melt/retention risk. Context metric, not better or worse. Banded against the school's peer group.
Graduate share of enrollmentGraduate students as a share of total enrollment, Fall 2023.
15.1%
15th percentile in peer grouppeer median 27.4%
Fall 2023157 peers
Graduate students as a share of total headcount enrollment (IPEDS, Fall 2023). It separates research-intensive universities with large graduate bodies from undergraduate-focused institutions. Context metric, not better or worse. Banded against the school's peer group.
Enrollment forecast (5-yr)Projected change in total enrollment about five years out, from the school's own trend.
Strong
60%
100th percentile in peer grouppeer median -11.8%
2024-2029 projection155 peers
Projected cumulative change in total enrollment roughly five years out, modeled by a least-squares log-linear fit on the school's own enrollment history (2016-2024). It uses the full multi-year series, so a single shock year (such as 2020) does not drive the result. This is a naive trend extrapolation, not a demographic model, and is capped at plus or minus 60 percent; treat it as direction-of-travel, not a precise count. Banded against the school's peer group; higher means projected growth.
In-state HS graduatesPublic + private high-school graduates in the school's state, class of 2025.
469,214
100th percentile in peer grouppeer median 111,084
Class of 2025 (WICHE)154 peers
The size of the school's home-state high-school graduating class in 2025 (WICHE Knocking at the College Door, public and private combined). It is the near-term in-state feeder market, the complement to the enrollment-cliff projection, which shows the direction that market is heading. Context metric, not better or worse. Banded against the school's peer group.
Metro-area unemployment rateUnemployment rate in the school's metro area, ACS 2019-23.
Below peers
6.6%
95th percentile in peer grouppeer median 4.9%
ACS 2019-23150 peers
The civilian unemployment rate in the school's metropolitan or micropolitan area (US Census ACS 2019-23, mapped by the school's federal CBSA code). It is a proxy for local labor demand: a lower rate means a tighter job market, a stronger near-term destination for graduates and a smaller pool of working adults to recruit. It describes the local economy, not the school. Schools outside any metro area are not scored. Banded against the school's peer group.
Completion equity
Six-year graduation rate by group
First-time, full-time bachelor’s cohort · Scorecard 2024-25
White30%
Black30%
Hispanic/Latino39%
Asian63%
American Indian/Alaska Native50%
Two or more races20%
Six-year graduation rate (150% of normal time) for the first-time, full-time bachelor’s cohort, broken out by race and ethnicity and for Pell-grant recipients (College Scorecard). Each bar uses the same measure as the headline graduation rate, so the gaps between groups are directly comparable. School overall: 35%.
Student body
Undergraduate race & ethnicity
IPEDS 2024-25
Unknown87.9%
White4.7%
Hispanic/Latino2.7%
Black2.6%
Asian1.6%
Two or more races0.5%
American Indian/Alaska Native0.1%
Native Hawaiian/Pacific Islander0.1%
Undergraduate enrollment by race and ethnicity, as reported to IPEDS (College Scorecard). “International” denotes nonresident students; “Unknown” means race/ethnicity was not reported.
Student Outcomes & Risk
Share taking federal loansShare of students taking out federal loans, a borrowing-reliance signal.
0%
1st percentile in peer grouppeer median 52.5%
155 peers
Frequently asked
How financially healthy is University of the People?
On the NACUBO Composite Financial Index, the −4 to 10 balance-sheet score accreditors and institutional boards use – University of the People scores 2.0 (Watch), computed from its IPEDS FY2022-23 finances. This is informational benchmarking, not a credit rating.
What is University of the People's student-faculty ratio?
University of the People reports a student-faculty ratio of 27:1 (IPEDS, fall 2023) – that is, about 27 students for every instructional faculty member.
Which schools are University of the People's peers?
University of the People is benchmarked against 157 institutions in the Master's, Larger Programs · Private nonprofit peer group; all percentiles and medians on this page are computed within that group.
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Source: U.S. Department of Education, College Scorecard & IPEDS (most recent releases), with the U.S. Census Bureau (ACS), the U.S. Bureau of Labor Statistics (Employment Projections, field-demand outlook) and WICHE (enrollment-cliff projections). Figures lag the current academic year by roughly two to three years. Percentiles and medians are computed within the institution's peer group. Financial Resilience is a transparent composite, see each component above. Compiled by Ibex Insights.