Abstract: In the era of big data, graphs have emerged as a natural representation of intricate relationships. However, graph sizes often become unwieldy, leading to storage, computation, and analysis challenges. A crucial demand arises for methods that can effectively downsize large graphs while retaining vital insights. Graph coarsening seeks to simplify large graphs while maintaining the basic statistics of the graphs, such as spectral properties and $\epsilon$-similarity in the coarsened graph. This ensures that downstream processes are more efficient and effective. Most published methods are suitable for homophilic datasets, limiting their universal use. We propose **U**niversal **G**raph **C**oarsening (UGC), a framework equally suitable for homophilic and heterophilic datasets. UGC integrates node attributes and adjacency information, leveraging the dataset's heterophily factor. Results on benchmark datasets demonstrate that UGC preserves spectral similarity while coarsening. In comparison to existing methods, UGC is 4x to 15x faster, has lower eigen-error, and yields superior performance on downstream processing tasks even at 70% coarsening ratios.