What do colleges usually spend the most money on?

So from tuition to source of income, I'm now wondering what expenses consume the most of a college's budget. Faculty salaries, infrastructure, student services, or research maybe?

It's excellent that you're thinking about higher education from a broader perspective. The areas where colleges and universities most often spend their money can indeed include faculty salaries, infrastructure, research, and student services. However, the allocation can significantly vary based on the type of institution.

Faculty salaries are typically one of the largest expense categories, especially at institutions that emphasize instruction. Salaries not only for professors but also for administrative staff like deans, registrars, and counselors, are all included in this category.

At research institutions, a considerable portion of the budget may also be allocated towards research-related activities. This can include purchasing equipment, funding projects, and maintaining research facilities. Such institutions often receive external grants and contracts that supplement their income for these research activities.

Facilities and infrastructure, such as classroom buildings, residence halls, and athletic facilities, are also significant expenses, as maintaining and upgrading them can be costly. This section can also include expenditures related to utilities or campus security.

Student services is another area of considerable spending, particularly at schools that provide a wide range of support to students. This category can include health and counseling services, career advising, extracurricular activities, and financial aid offices, among other things.

That being said, it's also necessary to consider costs related to scholarships and financial aid. Many schools commit an extensive portion of their budget to financial aid, ensuring that they're accessible to a diverse population of students.

In summary, the allocation of a college's budget is multifaceted and depends a lot on the college's size, type (public or private), mission (liberal arts, research, etc.), and student body. Each college will have its own priorities and strategic plan that can significantly shape where its funds are directed.