<p>Yes, TheThoughtProcess, they include graduate students.</p>
<p>Hawkette, among top 25 universities, Michigan's undergraduate student population as a percentage of the total student population is one of the highest. 65% of Michigan's students are undergrads. Harvard, Yale, Columbia, Penn, Stanford, Duke, University of Chicago, MIT, Northwestern, Washington University, Emory University, Vanderbilt, Georgetown, Rice University, Caltech, Johns Hopkins and Carnegie Mellon all have a lower percentage of undergraduate students. </p>
<p>At any rate, I assume that if you give Michigan a rating of B (or less as you seem to think would be fair), then schools like Tufts, Georgetown, Carnegie Mellon, Boston College, Tulane, NYU, USC and other decent universities would get a rating of C or D in terms of institutional resources. Do you agree with that? Afterall, they all have endowments per student range between $50,000-$120,000 and none of them receive hundreds of millions of dollars in funding from their respective states.</p>
<p>"So U Michigan places 27th out of the 40 schools." What 40 schools would that be Hawkette? Michigan is #27 out of over 1,000 national universities.</p>