https://www.thecollegefix.com/vanderbilt-launches-17-million-dollar-faculty-dei-initiative/One letter to a newly admitted Vanderbilt University engineering student showed an all-in price — room, board, personal expenses, a high-octane laptop — of $98,426...

According to Vanderbilt, its spending per undergraduate is $119,000. “The gap between the price and cost of attendance is funded by our endowment and the generous philanthropy of donors and alumni,” Brett Sweet, vice chancellor for finance, said in an emailed statement.

No one at the school would meet with me to break this figure down or get on the phone to talk about it. But Vanderbilt’s financial statements offer clues to how it spends money. In fiscal year 2023, 52 percent of its operating expenses went to faculty, staff and student salaries and wages, plus fringe benefits.