On May 22, Forbes Magazine gave Dartmouth an impressive “A+” along with a perfect GPA of 4.5 in its annual financial report for 2026. This review involved over 900 private, nonprofit colleges in the U.S., with many receiving lower grades. In fact, more than half scored “C” or worse, and a notable 27% got the lowest grade of “D.” Some colleges were even labeled as “looting” their endowments to stay afloat.
This marks the second consecutive year Dartmouth has achieved a perfect score, following a dip to an “A” with a 3.79 in 2024. Other Ivy League institutions like Brown, Columbia, Harvard, and the University of Pennsylvania also earned perfect GPAs this year. Notably, Dartmouth’s endowment saw a return of 10.8% in 2025, which was the lowest in its league.
According to Dartmouth’s chief financial officer, R. Scott Frew, the College is in a solid financial position, but still must navigate various pressures in higher education. With the new One Big Beautiful Bill Act, the College now faces an increased tax on endowment returns—jumping from 1.4% to 4%.
Frew commented that the Forbes grades offer a “useful lens” into the financial health of institutions, though he noted some of their metrics might not reflect all nuances. For instance, he explained that having many students on financial aid is treated negatively in their assessment, despite being a necessary support.
On January 25, President Sian Leah Beilock shared her thoughts in a Wall Street Journal op-ed, emphasizing the need for colleges to commit to affordability. She highlighted that if the public loses faith in the investment value of a college education, it poses a significant concern.
Dartmouth is committed to making education accessible. In recent years, the financial aid budget has doubled, and the College guarantees to meet 100% of the demonstrated financial need for all admitted students, irrespective of their background.
Forbes bases its grades on a range of factors like a college’s ability to manage debt, reserve funds, changes in net assets, endowment per student, and tuition revenue. The data comes from the Department of Education and analysis from Perspective Data Science.
Economics professor Bruce Sacerdote, an alumnus, credits Dartmouth’s financial stability to the generosity of alumni, smart investment management, and thoughtful resource allocation. He expressed pride in the focus on enhancing student experiences through financial aid and expanded opportunities in research, wellness, and outdoor activities.
In recent years, the push for affordability in higher education has gained momentum. According to a 2022 survey by the Institute for College Access and Success, nearly 70% of students reported concerns about college costs impacting their educational choices. This trend illustrates a growing awareness of financial issues in higher education.
For more information on higher education financing, you can check out this government report.
