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For Public Colleges, Funding Cuts Hit Hard

Falling state funding and rising enrollments have battered public colleges, but the University of Michigan at Ann Arbor has navigated the tough times with financial shrewdness, giving it the top spot among public schools in The Wall Street Journal/Times Higher Education College Rankings.

The research university provides its 44,000 undergraduate and graduate students with more resources and achieves higher measures of graduate success than any other public institution, thanks in part to a $10 billion endowment, one of the biggest in the U.S. Behind it on the list of top public schools are the University of California, Los Angeles at No. 2 and the University of North Carolina at Chapel Hill at No. 3.