At the beginning of the current 2015-2016 academic year, a total of 100 universities and colleges were operating in Mongolia. Of this number, 17 are state-owned, 78 private and the remaining 5 are institutions with foreign investment. Regarding location: 91 of the total are situated in Ulaanbaatar, whilst the remaining 9 are in the provinces. This academic year, 162,600 students are studying in higher education; this being a 15,700 (8.8%) reduction on the previous year. The majority of students, 140,300 (86.3%), are undergraduates currently studying for bachelor degrees.