Skip to headerSkip to main contentSkip to footer
Get our Free E-newslettersGet our Free E-newsletters
Kiplinger logoLink to homepage
Get our Free E-newslettersGet our Free E-newsletters
Subscribe to Kiplinger
Subscribe to Kiplinger
Save up to 76%
Subscribe
Subscribe to Kiplinger
  • Store
  • Home
  • Investing
  • Retirement
  • Taxes
  • Personal Finance
  • Your Business
  • Wealth Creation
    • Podcasts
    • Economic Outlooks
    • Tools
    • Kiplinger's Personal Finance Magazine
    • The Kiplinger Letter
    • The Kiplinger Tax Letter
    • Kiplinger's Investing for Income
    • Kiplinger's Retirement Report
    • Store
    • Manage My E-Newsletters
    • My Subscriptions
Skip advert
  • Home
  • College Rankings
College Rankings

10 Best College Values With the Lowest Average Graduating Debt

For over a decade, the rising cost of college has forced many families to take out tens of thousands of dollars in student loans.

by: Jacqueline Tanner
December 22, 2017

Getty Images

Skip advert

For over a decade, the rising cost of college has forced many families to take out tens of thousands of dollars in student loans. In 2016, the average student borrower at a four-year private college graduated with $32,000 in debt, while those attending public colleges borrowed an average of $27,000. Paying off those loans could take years.

But not all schools saddle their alumni with a financial burden. Of the 300 schools on our list of best college values, these 10 schools were most successful at getting their students out the door with the lowest average debt by graduation.

 

Skip advert
Skip advert
Skip advert

1 of 10

1. Berea College

Skip advert
  • Location: Berea, Ky.
  • Average debt at graduation: $7,062
  • Kiplinger's combined rank: #95 (#49 among liberal arts colleges)
  • Undergraduate enrollment: 1,665
  • Total annual cost: $7,234
  • Students who borrow: 65%

Berea's low tuition may appeal to prospective students looking for an affordable education, but the college admits only those with limited economic resources. In keeping with the school's no-tuition promise, students are awarded nearly $100,000 over the course of four years, not including additional financial aid for housing and other living expenses.

Established in 1855 by abolitionists and radical reformers, Berea is one of seven federally recognized work colleges in the nation. While students may not incur the financial costs of attendance, they are required to work on campus between 10 and 15 hours a week.

 

  • 10 Great Colleges That Won't Make Students Take Loans
Skip advert
Skip advert
Skip advert

2 of 10

2. Baruch College of the City University of New York (CUNY)

Skip advert
  • Location: New York, N.Y.
  • Average debt at graduation: $7,915
  • Kiplinger's combined rank: #122 (#44 among public colleges)
  • Undergraduate enrollment: 15,210
  • Total annual out-of-state cost: $39,395 ($25,525 in-state)
  • Students who borrow: 30%

Baruch College, conveniently located in New York City's Manhattan borough, encourages students to take advantage of internship and career opportunities on Wall Street and at the global headquarters of nearby companies.

The school attracts an ethnically diverse pool of students from around the world. Undergraduates may choose from 37 different majors offered through the Weissman School of Arts and Sciences, Zicklin School of Business and Marxe School of Public and International Affairs. About 56% of students are awarded need-based financial aid.

 

  • 10 Best Values in U.S. Colleges, 2018
Skip advert
Skip advert
Skip advert

3 of 10

3. Princeton University

Skip advert
  • Location: Princeton, N.J.
  • Average debt at graduation: $8,908
  • Kiplinger's combined rank: #1 (#1 among private colleges)
  • Undergraduate enrollment: 5,400
  • Total annual cost: $61,140
  • Students who borrow: 18%

The high price tag to attend Princeton University doesn't reflect the reduced amount many of its students end up paying. Since 2001, this Ivy League institution's financial aid policy has been recognized as one of the most generous funding programs in the country. The school became the first four-year undergraduate institution to offer no-loan financial aid packages, allowing students to graduate debt-free.

As part of an ongoing effort to draw a diverse pool of undergraduates, all qualified students are encouraged to apply for admission to Princeton. Of Princeton's admitted students, 98% earned a score of 600 or higher on the math portion of the SAT.

 

Skip advert
Skip advert
Skip advert

4 of 10

4. University of North Georgia

Skip advert
  • Location: Dahlonega, Ga.
  • Average debt at graduation: $10,062
  • Kiplinger's combined rank: #287 (#94 among public colleges)
  • Undergraduate enrollment: 17,704
  • Total annual out-of-state cost: $32,978 ($19,166 in-state)
  • Students who borrow: 46%

The University of North Georgia may not be the largest public university in the state of Georgia to make our best values list, but it's certainly the youngest. Established in January 2013, the university was created through the consolidation of two top-performing schools in the state's university system: North Georgia College & State University and Gainesville State College.

UNG's sticker price for out-of-state students falls well below the national average for out-of-state students at four-year institutions.

 

  • 10 Best Values in Public Colleges, 2018
Skip advert
Skip advert
Skip advert

5 of 10

5. Ramapo College of New Jersey

Skip advert
  • Location: Mahwah, N.J.
  • Average debt at graduation: $11,275
  • Kiplinger's combined rank: #188 (#72 among public colleges)
  • Undergraduate enrollment: 5,762
  • Total annual out-of-state cost: $36,963 ($27,829 in-state)
  • Students who borrow: 49%

Ramapo College, a public liberal arts college located about 30 miles from downtown Manhattan, offers more than 539 course offerings and over 36 academic programs. With an admission rate of 53% and a student-faculty ratio of 18 to 1, Ramapo is an attractive pick for those in search of a less selective school that maintains a small campus community.

The annual sticker price for out-of-state students is above the national average for public four-year institutions, but nearly half of Ramapo's students receive need-based financial aid.

 

Skip advert
Skip advert
Skip advert

6 of 10

6. Haverford College

Skip advert
  • Location: Haverford, Pa.
  • Average debt at graduation: $13,000
  • Kiplinger's combined rank: #31 (#17 among liberal arts colleges)
  • Undergraduate enrollment: 1,268
  • Total annual cost: $71,614
  • Students who borrow: 29%

This close-knit liberal arts college is located just eight miles from downtown Philadelphia on Pennsylvania's historic Main Line. Haverford's campus is home to 98% of its students and 61% of its faculty members.

The school attracts the nation's highest achievers, but only 21% of applicants are admitted. The average graduate's debt of $13,000 is well below the average of $32,000 for graduates of four-year private schools.

 

  • Kiplinger's Best College Values, 2018
Skip advert
Skip advert
Skip advert

7 of 10

7. Hunter College of the City University of New York (CUNY)

Skip advert
  • Location: New York, N.Y.
  • Average debt at graduation: $13,000
  • Kiplinger's combined rank: #137 (#45 among public colleges)
  • Undergraduate enrollment: 16,723
  • Total annual out-of-state cost: $27,869 ($16,999 in-state)
  • Students who borrow: 71%

Located on the Upper East Side of Manhattan, Hunter College is the largest college in the City University of New York. It provides educational opportunities for a diverse student body from all over the world.

While nearly three-fourths of its students take out loans, the school's average graduating debt is less than half the national average for students who borrow at four-year public institutions.

 

  • How We Rank the Best College Values
Skip advert
Skip advert
Skip advert

8 of 10

8. Wellesley College

Skip advert
  • Location: Wellesley, Mass.
  • Average debt at graduation: $13,415
  • Kiplinger's combined rank: #10 (#5 among liberal arts colleges)
  • Undergraduate enrollment: 2,347
  • Total annual cost: $67,784
  • Students who borrow: 48%

For more than 100 years, this all-women's college has promoted what it calls the Wellesley Effect, which is designed to help women make meaningful and professional contributions to the world.

Wellesley does not offer merit-based aid, but the school awards qualifying students an average need-based-aid package of $45,178, cutting the sticker price by nearly two-thirds. Graduates' average debt is less than half the average for graduates of four-year private institutions.

 

Skip advert
Skip advert
Skip advert

9 of 10

9. Yale University

Skip advert
  • Location: New Haven, Conn.
  • Average debt at graduation: $13,625
  • Kiplinger's combined rank: #13 (#7 among private colleges)
  • Undergraduate enrollment: 5,477
  • Total annual cost: $70,570
  • Students who borrow: 14%

Only 6% of applicants are accepted into Yale's multimillion-dollar cultural and scientific research community. And like its Ivy League counterparts, the college is committed to ensuring that all qualified students can afford a Yale education, regardless of their financial background.

Yale allocates need-based aid under a strict no-loan policy. The university meets 100% of financial need for qualifying students and maintains the lowest percentage of students who take out loans on this list.

 

Skip advert
Skip advert
Skip advert

10 of 10

10. Queens College of the City University of New York (CUNY)

Skip advert
  • Location: Queens, N.Y.
  • Average debt at graduation: $14,383
  • Kiplinger's combined rank: #245 (#77 among public colleges)
  • Undergraduate enrollment: 16,326
  • Total annual out-of-state cost: $34,724 ($23,854 in-state)
  • Students who borrow: 16%

Queens College's admission rate of 41% is the highest of any of the City University of New York schools on our list. The campus stretches across 80 tree-lined acres in the Flushing neighborhood of Queens. In the fall of 2009, the school opened its first residence hall, Summit Apartments, which houses approximately 500 students.

 

Skip advert
Skip advert
Skip advert
  • college
  • College Rankings
Share via EmailShare on FacebookShare on TwitterShare on LinkedIn
Skip advert
Skip advert
Skip advert
Skip advert

Recommended

When Will Student Loans Be Forgiven?
Paying for College

When Will Student Loans Be Forgiven?

Millions of Americans are waiting for the Biden Administration’s next hint, which could come later this summer, at how he’ll address the student loan …
June 27, 2022
Financial Advice I Would Give My Younger Self – Planning for Education Funding
college

Financial Advice I Would Give My Younger Self – Planning for Education Funding

College 529 plans vs. Roth IRAs: A financial expert shares what she wishes she had known when saving for her own law school and her son’s college. Tak…
June 21, 2022
25 Best College Majors for a Lucrative Career
college

25 Best College Majors for a Lucrative Career

One way to increase your chances of earning a good living is to pick a college major that prepares you to work in a field that pays well. Here are som…
May 31, 2022
How to Split $250,000 in Student Loans in a Divorce
Paying for College

How to Split $250,000 in Student Loans in a Divorce

Before you just sell the house and write a check to pay off your Parent PLUS loans, look at all your options. One could potentially save you a couple …
April 7, 2022

Most Popular

5 Ways to Prepare for a Recession
recession

5 Ways to Prepare for a Recession

The signs seem to be pointing in one direction these days, so if you’re worried about being ready for a recession, consider taking these five measures…
June 28, 2022
Your Guide to Roth Conversions
Special Report
Tax Breaks

Your Guide to Roth Conversions

A Kiplinger Special Report
February 25, 2021
In What Order Should You Tap Your Retirement Funds?
retirement planning

In What Order Should You Tap Your Retirement Funds?

Should you go with your IRA first or your brokerage account? Pulling money haphazardly can have negative implications. Instead follow this road map fo…
June 28, 2022
  • Customer Service
  • About Us
  • Advertise With Us (PDF)
  • Privacy Policy
  • Cookie Policy
  • Kiplinger Careers
  • Accessibility
  • Privacy Preferences

Subscribe to Kiplinger's Personal Finance

Be a smarter, better informed investor.
Save up to 76%Subscribe to Kiplinger's Personal Finance
Do Not Sell My Information

Kiplinger is part of Future plc, an international media group and leading digital publisher. Visit our corporate site www.futureplc.com
© Future US LLC, 10th floor, 1100 13th Street NW, Washington, DC 20005. All rights reserved.

Follow us on InstagramFollow us on FacebookFollow us on TwitterConnect on LinkedInConnect on YouTube