Wolverine19, universities are restricted to using 4-6% of their endowment on an annual basis. The annual state funding received by public universities is used entirely during that fiscal year. So it is safe to say that each dollar a public universities receives from the state annually is roughly equivalent to $20 a private university’s endowment generates annually. In some instances, public universities generate far less income from tuition, but that is clearly not the case with Michigan, where 40% of the students come from OOS and pay high tuition fees while receiving virtually no financial aid.