If you take $37.6B and assume a VERY modest 4% return on it, that works out to $1.5B income per year. If u divide $1.5B by 6700 undergrads, that works out to $224k per year.
Even if you divide by 21,000 total undergrad+grad students, that works out to $71k per year. And keep in mind that 4% return is waaaaay lower than what these “hedge funds w schools” are achieving.