Like I said, it doesn&#x27;t matter which one bills more.<p>The school almost certainly won&#x27;t get grad students if it doesn&#x27;t offer any graduate level courses.<p>A graduate program with poorly trained students is not going to get the bigger grant funding, if only because the research is likely to be less advanced.<p>It&#x27;s even more profitable to have a class without a teacher, where people simply get a degree in exchange for money and bypass all the intermediate work. These are called diploma mills.