The University of the East (or Pamantasan ng Silangan in Filipino and commonly abbreviated as UE) is a private nonsectarian university located in University Belt Area, district of Sampaloc, Manila, Philippines. The university was founded in 1946 as a coeducational institution. Once labeled as the "Largest University in Asia" in terms of population, UE became the first university in Asia to have an enrollment of over 60,000 students. University of the East is one of the most financially stable universities in the Philippines in terms of assets. Realizing that education is the only way to escape poverty, Dr. Lucio C. Tan heavily invested in education. He bought the University of the East in 1990, which he considers his biggest feat in promoting education in the country. In over 65 years of existence, the University of the East has grown into a respected private university in the Philippines. University of the East was granted by the Commission on Higher Education with an Autonomous Status that was given to few tertiary institutions in terms of Quality Education.