The University of Nevada was established by the Nevada State Constitution, and was founded in Elko, Nevada in 1874. In 1885, the University of Nevada was moved from Elko to its current home in Reno.After nearly a century of quiet prominence in Nevada and around the western U.S., the University of Nevada has made large strides toward becoming the modern institution it is today with the opening of the Desert Research Institute in 1960 and a medical school in 1967. The University of Nevada remained the only four-year academic institution in the state of Nevada until 1965, when the Nevada Southern campus (now the University of Nevada, Las Vegas) was separated to become its own university.Today the University of Nevada, Reno is one of the best funded universities in the country. According to The Education Trust, UNR's per pupil spending ranked 62nd out of 553 public universities, spending $30,290 per pupil in 2006. Despite the high level of spending, UNR only graduates 46.7 percent of its students within 6 years, ranking 259th out of 553 public universities.The University of Nevada, Reno has been affected by the national economic crisis, which resulted in the vertical cutting of several programs rather than blanket across the board cuts. The Fall 2010 semester saw the largest incoming class in the history of the University.