The 12 wealthiest public colleges in America

The richest public universities in the country boast endowments above 10 figures, placing them in the upper echelon of higher education. Texas A&M University at College Station, for example, has an endowment of $10.52 billion, not only making it the wealthiest public university in America, but also the sixth wealthiest among all universities, right behind MIT and Princeton.

Whether public or private, university endowments support a school's operating budget and help it invest in its future, from providing scholarships and financial aid to funding research and other initiatives. The richest colleges, frequently the most prestigious, can offer more of these opportunities to their students and community, giving them a leg up in recruitment and helping them burnish their academic reputation.

The National Center for Education Statistics (NCES), an organization under the US government that collects and analyzes education data, provided Business Insider with the most recent figures on US college endowments (the fiscal year ending in October 2014). It also provided its most recent data on the annual cost for a student to attend each college while living on campus.

The following 12 colleges each have endowments of more than $2.4 billion, making them the richest public universities in America.

Additional reporting by Alex Morrell.