The table includes all schools with a reported subsidy (defined as the sum of student fees and institutional transfers) of less than 20% of the athletics department's revenues. There are 45 schools that make the cut. Of these, 9 have a reported subsidy of less than $1 million (which translates to less than 1% of total athletics revenues) and 16 others are less than 5%.
Almost all of these schools are part of the so-called Power 5 conferences where there is big time athletics and big time money.
If you want to redefine what The Chronicle calls a "subsidy" intro what might otherwise be called an "investment," then each of these schools show a return of at least 500% ($5 for every $1 invested) on funds invested into athletics. At the top end of schools that receive such "investments" the return is 500 to 1 (Michigan). In any department on campus such ROI numbers would cause administrators to smile.
A decision to call such funds "subsidies" or "investments" is probably based on how one views the overall worth of college athletes beyond just dollars and cents. Here are the numbers:
| institution | subsidy as % of athletics spending | external revenue | subsidy | |
| 156 | Oregon State University | 19.4% | $51,016,341 | $12,285,453 |
| 157 | University of Colorado Boulder | 19.0% | $52,017,285 | $12,209,473 |
| 158 | Washington State University | 18.6% | $44,322,180 | $10,104,638 |
| 159 | University of Utah | 17.5% | $46,608,204 | $9,862,106 |
| 160 | University of Virginia-Main Campus | 15.8% | $70,462,157 | $13,235,814 |
| 161 | Arizona State University-Tempe | 13.5% | $64,656,064 | $10,073,205 |
| 162 | Virginia Polytechnic Institute and State University | 11.1% | $64,954,358 | $8,110,828 |
| 163 | University of North Carolina at Chapel Hill | 10.8% | $74,693,320 | $9,078,593 |
| 164 | Georgia Institute of Technology-Main Campus | 10.4% | $61,361,761 | $7,107,777 |
| 165 | North Carolina State University at Raleigh | 9.5% | $63,792,160 | $6,708,651 |
| 166 | University of Louisville | 8.8% | $80,976,749 | $7,768,599 |
| 167 | University of Arizona | 7.9% | $92,009,900 | $7,901,134 |
| 168 | Florida State University | 7.6% | $96,794,108 | $7,980,366 |
| 169 | University of Minnesota-Twin Cities | 6.6% | $99,165,090 | $7,011,066 |
| 170 | Oklahoma State University-Main Campus | 6.4% | $110,281,827 | $7,521,475 |
| 171 | University of Wisconsin-Madison | 6.3% | $119,837,558 | $8,073,360 |
| 172 | Clemson University | 5.9% | $70,417,577 | $4,375,745 |
| 173 | University of South Carolina-Columbia | 5.7% | $92,987,503 | $5,631,976 |
| 174 | University of California-Berkeley | 5.5% | $85,279,969 | $4,982,173 |
| 175 | Texas Tech University | 5.3% | $72,636,657 | $4,086,756 |
| 176 | University of Mississippi | 5.1% | $71,962,577 | $3,886,423 |
| 177 | University of Illinois at Urbana-Champaign | 4.9% | $76,921,197 | $3,927,372 |
| 178 | Mississippi State University | 4.3% | $59,625,111 | $2,650,000 |
| 179 | The University of Alabama | 3.9% | $147,237,173 | $5,997,100 |
| 180 | Auburn University | 3.9% | $109,331,204 | $4,384,800 |
| 181 | Indiana University-Bloomington | 3.6% | $81,660,417 | $3,008,362 |
| 182 | University of Washington-Seattle Campus | 3.5% | $96,725,508 | $3,549,679 |
| 183 | University of Florida | 3.5% | $120,302,863 | $4,308,442 |
| 184 | University of Georgia | 3.2% | $100,220,875 | $3,274,712 |
| 185 | University of California-Los Angeles | 3.1% | $83,715,508 | $2,711,272 |
| 186 | Iowa State University | 2.9% | $66,212,985 | $1,957,396 |
| 187 | University of Kansas | 2.6% | $95,116,692 | $2,564,374 |
| 188 | University of Arkansas | 2.0% | $94,857,567 | $1,936,405 |
| 189 | University of Missouri-Columbia | 1.8% | $82,203,587 | $1,515,000 |
| 190 | University of Oregon | 1.1% | $193,875,299 | $2,155,099 |
| 191 | Michigan State University | 1.0% | $103,582,498 | $1,094,958 |
| 192 | Texas A & M University-College Station | 1.0% | $118,234,414 | $1,241,457 |
| 193 | University of Kentucky | 0.9% | $95,823,941 | $861,548 |
| 194 | University of Iowa | 0.6% | $105,275,037 | $683,917 |
| 195 | University of Michigan-Ann Arbor | 0.2% | $157,643,504 | $256,316 |
| 196 | Louisiana State University and Agricultural & Mechanical College | 0.0% | $133,679,256 | $0 |
| 196 | Ohio State University-Main Campus | 0.0% | $145,232,681 | $0 |
| 196 | Purdue University-Main Campus | 0.0% | $71,372,206 | $0 |
| 196 | University of Nebraska-Lincoln | 0.0% | $94,797,692 | $0 |
| 196 | University of Oklahoma-Norman Campus | 0.0% | $129,226,692 | $0 |
| 196 | The University of Texas at Austin | 0.0% | $161,035,182 | $0 |
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