How We Rank the Top Private College Values
To come up with our best values for 2012-13, we started with the data on nearly 600 private institutions provided by Peterson's, then added our own reporting.
To come up with our best values for 2012-13, we started with the data on nearly 600 private institutions provided by Peterson's, then added our own reporting. Our list ranks the top 100 universities and top 100 liberal arts colleges in separate tables. The rankings measure academic quality and affordability; quality accounts for 56.25%, and cost factors account for 43.75%. Here's how the numbers break down.
SEE OUR SLIDE SHOW: 10 Best Values in Private Universities 2012-13
Cost and Financial Aid: 31.25%
We give the most points to schools with the lowest total cost (tuition, fees, room and board, and books), and equal points to schools that reduce the price through need-based aid (grants but not loans) and those that knock down the price through non-need-based aid. Some schools fail to cover the gap between expected family contribution and the aid they provide. We reward schools with the highest percentage of need met, and we give points up to the same maximum to schools based on the percentage of students without need who receive non-need-based aid.
Student Indebtedness: 12.5%
As college costs rise, so does average debt at graduation—to the tune of almost $27,000, according to a recent study by the Pew Research Center. Schools that work to keep down debt deserve extra points, and we reward them accordingly. We also recognize schools that help students avoid borrowing altogether by factoring in the percentage of students who borrow. The lower the number, the better the score.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Competitiveness: 25%
In this category, we include admission rate (the percentage of applicants offered admission) and yield (the percentage of students who enroll out of those admitted). The first number demonstrates the selectivity of the school, and the second shows its ability to compete with other schools for accepted applicants; both demonstrate a school's academic chops. We also consider test scores (SAT or ACT) of incoming freshmen, because high achievers create an intellectual synergy that enhances the academic atmosphere.
Graduation Rates: 18.75%
Our rankings give maximum weight to the four-year graduation rate to reward colleges that help students get undergraduate degrees on time and within budget. Because some students are late bloomers, we also give points—albeit half as many—to colleges with a strong showing of students who collect their degree in five years. Most schools reported graduation rates for the class that entered in 2005.
Academic Support: 12.5%
Freshman retention rate shows the percentage of students who return for their sophomore year, an indication of how successful the college is in keeping them engaged and on track. Students per faculty—the average number of students per faculty member—measures whether the college has the personnel to fulfill its academic mission.
Marc A. Wojno, Kaitlin Pitsker and Jonny Jaldin helped compile this data.
This article first appeared in Kiplinger's Personal Finance magazine. For more help with your personal finances and investments, please subscribe to the magazine. It might be the best investment you ever make.
Get Kiplinger Today newsletter — free
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.
-
Stock Market Today: Dow Climbs 288 Points After Amazon, Intel Earnings
Post-earnings strength from Amazon and Intel helped cushion the blow of a disappointing October jobs report.
By David Dittman Published
-
Nvidia Stock Is Joining the Dow. Is It Time to Buy?
Nvidia will replace Intel in the Dow Jones Industrial Average this Friday. What does it mean for the stock?
By Dan Burrows Published
-
403(b) Contribution Limits for 2024: Good News for Teachers
retirement plans Teachers and nonprofit workers can contribute more to a 403(b) retirement plan in 2024 than they could in 2023.
By Jackie Stewart Last updated
-
Roth IRA Contribution Limits for 2024 and 2025
Roth IRAs Roth IRA contribution limits have gone up. Here's what you need to know.
By Jackie Stewart Last updated
-
Four Tips for Renting Out Your Home on Airbnb
real estate Here's what you should know before listing your home on Airbnb.
By Miriam Cross Published
-
Five Ways to a Cheap Last-Minute Vacation
Travel It is possible to pull off a cheap last-minute vacation. Here are some tips to make it happen.
By Vaishali Varu Last updated
-
How to Figure Out How Much Life Insurance You Need
insurance Instead of relying on rules of thumb, you’re better off taking a systematic approach to figuring your life insurance needs.
By Kimberly Lankford Last updated
-
Amazon Big Deal Days Is Coming! We’ve Got All the Details
Amazon Prime To kick off the holiday season with a bang, Amazon Big Deal Days runs Tuesday, October 8 and Wednesday, October 9.
By Bob Niedt Last updated
-
How to Shop for Life Insurance in 3 Easy Steps
insurance Shopping for life insurance? You may be able to estimate how much you need online, but that's just the start of your search.
By Kaitlin Pitsker Published
-
Five Ways to Shop for a Low Mortgage Rate
Becoming a Homeowner Mortgage rates are high this year, but you can still find an affordable loan with these tips.
By Daniel Bortz Last updated