FAU is no longer at the top of the ranking from the Florida University System's Board of Governors.
Florida Atlantic University was tied for first in the rankings last year, but slipped to seventh place this year.
The rankings determine how much funding colleges receive each year. The drop in position means FAU will likely go from its $25 million in 2016 to $19 million this year.
Reportedly, part of the reason for the decline is that the university made only marginal improvements in its graduation rates, but a spokeswoman says a number of students dropped out or reduced their hours because of financial problems.
The University of Florida sits alone at the top of the rankings.