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 Values in U.S. Colleges, 2016

These 10 schools represent the top-scoring schools on our combined rankings, which compare private universities, private liberal arts colleges and public colleges (based on out-of-state costs) to help you see your options side by side.

by: Kaitlin Pitsker
January 30, 2016

Thinkstock

Skip advert

These 10 schools represent the top-scoring schools on our combined rankings, which compare private universities, private liberal arts colleges and public colleges (based on out-of-state costs) to help you see your options side by side. We rank our full list of 300 colleges and universities based on our definition of value: a quality education at an affordable price. Among the factors we consider for academic quality: competitive admission rates, high four-year graduation rates and low student-faculty ratios. On the cost side of the equation, we look for schools with a reasonable price tag, generous need-based aid for students who qualify, and low student debt.

This year, for the first time, we present future earnings data for each school on our best values list as a starting point to estimate your student’s post-graduation earnings. The figures, which show the median earnings of workers who started at a particular college 10 years earlier and received federal financial aid, come from the U.S. Department of Education. The data do not consider whether the workers graduated from college or went on to graduate school. Because of these limitations, we don't include these figures in calculating each school's rank on our list.

In 2015–2016, the average sticker price of a private college or university is $43,921, according to the College Board. Meanwhile, the average sticker price for out-of-state students at public colleges is $34,031. Despite their higher price tags, private liberal arts colleges and private universities dominate the top spots on our combined list. Private colleges perform well in our rankings because they typically have higher graduation rates and more generous financial aid packages than public institutions—making a private education at some colleges more affordable than the school’s sticker price suggests. When we published our first combined college ranking last year, none of the public schools piled up enough points to score a spot in the top 10. But this year, one public university—the University of North Carolina at Chapel Hill—shows up as number 10 on our combined list. Take a look.

Skip advert
Skip advert
Skip advert

1 of 10

1. Washington and Lee University

Skip advert
  • Location: Lexington, Va.
  • Undergraduate enrollment: 1,890
  • 4-year grad rate: 85%
  • Total annual cost: $59,202
  • Avg. need-based aid: $41,472
  • Average graduating debt: $23,224
  • Salary yardstick: $77,600
  • SEE ALSO: SLIDE SHOW: 10 Great Colleges Where Your Kid Can Graduate in 4 Years or Less

A blend of academic quality and affordability helps Washington and Lee move up three places this year to top our combined best values list. This small liberal arts college, nestled between the Blue Ridge and Allegheny mountains, also leads our list of liberal arts colleges for the second time, after consistently landing in our top 10 since 2007. A modest 2% total cost increase over last year (well below the national average of 3.5% for private schools), combined with generous need-based aid for students who qualify, propel W&L to the top. Students with good grades, strong test scores or other qualities the school is seeking may also qualify for merit aid. W&L offers merit aid to 14% of students who don’t receive need-based aid, at an average of $36,293 per year in non-need-based aid to students who qualify.

This 266-year-old school, named for George Washington and Robert E. Lee, is competitive. W&L accepts only 20% of applicants. Nearly half of incoming freshmen score 700 or higher on the critical-reading portion of the SAT, and 53% score top marks on the math section. Students abide by the school's honor code, which lets students proctor their own exams, and a "speaking tradition" that dictates that students and faculty greet everyone they pass on campus.

Skip advert
Skip advert
Skip advert

2 of 10

2. Princeton University

stu_spivak via Flickr

Skip advert
  • Location: Princeton, N.J.
  • Undergraduate enrollment: 5,391
  • 4-year grad rate: 90%
  • Total annual cost: $58,660
  • Avg. need-based aid: $42,097
  • Average graduating debt: $6,600
  • Salary yardstick: $75,100

Generous financial aid awards and low student debt, plus outstanding academics, solidify Princeton's second-place finish on our combined list (it also earns top honors on our list of private universities for the second time in a row). The generous need-based aid cuts this Ivy League school's annual sticker price by an average of 72%. And at Princeton, borrowing isn't part of the deal. In 2001, the school became the first to institute a no-loan financial aid policy—awarding all accepted students 100% of their demonstrated financial need in the form of scholarships and grants. Roughly one in five families borrow on their own, but the average debt among students that do borrow is less than a quarter of the national average for private school students ($30,200) and the second lowest, after Berea College, of all 300 schools in our rankings.

Princeton is one of the most selective schools on our list. The school accepts only 7% of applicants; two-thirds of accepted students decide to enroll, and 98% of freshmen return for their sophomore year. Among incoming freshmen, nearly three-fourths score 700 or higher on the critical-reading portion of the SAT, and 79% score 700 or higher on the math portion. Once on Princeton's 500-acre campus, in central New Jersey, students can select from academic courses in 36 areas of study and some 300 student-led organizations, exploring everything from astrobiology to cooking to 3D printing.

Skip advert
Skip advert
Skip advert

3 of 10

3. Harvard University

Skip advert
  • Location: Cambridge, Mass.
  • Undergraduate enrollment: 6,636
  • 4-year grad rate: 86%
  • Total annual cost: $61,659
  • Avg. need-based aid: $44,430
  • Average graduating debt: $15,117
  • Salary yardstick: $87,200
  • SEE ALSO: SLIDE SHOW: 10 Best Colleges With the Lowest Average Graduating Debt

Harvard moves up three places this year to nab the third spot on our combined best values list. Despite an annual sticker price of more than $60,000, generous need-based financial aid, which is awarded to 60% of students, helps make a Harvard education surprisingly affordable. The average annual need-based aid award for students who qualify cuts the school's annual sticker price by 72%. About three-fourths of families avoid borrowing—and the average debt among students who do borrow is about half of the national average for private school students.

Middling students need not apply: Harvard's 6% admission rate ties with Yale's as the second most competitive of all 300 schools in our ranking. Of the students who are offered admission, 85% of students enroll (the highest yield of all of the schools in our ranking). The school also boasts some of the highest test scores in our combined top 10; 79% of students score 700 or higher on the critical-reading portion of the SAT, and 81% score top marks on the math portion.

Skip advert
Skip advert
Skip advert

4 of 10

4. Davidson College

Skip advert
  • Location: Davidson, N.C.
  • Undergraduate enrollment: 1,770
  • 4-year grad rate: 90%
  • Total annual cost: $61,119
  • Avg. need-based aid: $37,170
  • Average graduating debt: $22,000
  • Salary yardstick: $58,500

Strong academics help Davidson College, located about 20 miles north of Charlotte, excel in our rankings. Davidson's 22% admission rate and 90% four-year graduation rate have both improved in recent years, enabling this tiny liberal arts college to climb consistently on our list. The school's broad-based liberal arts curriculum allows students to select from more than 850 courses each year. Outside of class, students can explore other interests through more than 200 student organizations. Life on Davidson's 665-acre campus centers on the school’s honor code, which emphasizes trust between students and faculty and responsible behavior.

Nearly half of Davidson students receive need-based aid, which cuts the total cost of attendance by 61%, on average, for students who qualify. The school also awards an average of $23,834 to 15% of students who don't qualify for need-based aid. And Davidson's financial aid programs don't saddle students with aid that has to be repaid. In 2007, the school became the first liberal arts college to eliminate loans from all financial aid packages. Nearly 30% of students do take loans, but the average debt among those who do borrow is about $8,000 less than the national average for students at private colleges and universities.

Skip advert
Skip advert
Skip advert

5 of 10

5. Swarthmore College

Skip advert
  • Location: Swarthmore, Pa.
  • Undergraduate enrollment: 1,542
  • 4-year grad rate: 89%
  • Total annual cost: $62,690
  • Avg. need-based aid: $40,314
  • Average graduating debt: $21,866
  • Salary yardstick: $49,400
  • SEE ALSO: SLIDE SHOW: 10 Best Values in Public Colleges, 2016

This small liberal arts college, on a 425-acre campus 11 miles southwest of Philadelphia, attracts stellar students. The school accepts just 17% of applicants; 64% score 700 or higher on the critical-reading portion of the SAT, and 68% score top marks on the math section. Swarthmore offers its students more than 600 courses in more than 40 areas of study. Students can also choose additional courses offered through an agreement with nearby Bryn Mawr and Haverford Colleges as well as the University of Pennsylvania. Three-fourths of Swarthmore graduates plan to go on to graduate school within five years of graduation, and nearly 20% of Swarthmore alums complete a doctoral program.

A generous average need-based financial aid award of $40,314 slashes the total cost of attendance for students who qualify to about one-third of the school's annual sticker price. As a no-loan school, Swarthmore's financial aid packages consist entirely of scholarships and grants. One-third of students still borrow, but the average debt at graduation for those students is about 70% of the national average for students at private colleges.

Skip advert
Skip advert
Skip advert

6 of 10

6. Vanderbilt University

Brent Moore via Flickr

Skip advert
  • Location: Nashville, Tenn.
  • Undergraduate enrollment: 6,851
  • 4-year grad rate: 88%
  • Total annual cost: $61,470
  • Avg. need-based aid: $39,953
  • Average graduating debt: $20,790
  • Salary yardstick: $60,900

Vanderbilt University, located a mile and a half southwest of downtown Nashville, racks up points in our ranking for its strong academics, including a competitive 13% admission rate, high test scores among incoming freshmen (90% score 30 or higher on the ACT), and an eight-to-one student-faculty ratio, which generally leads to small class sizes. On campus, students can study subjects ranging from civil engineering to economics to musical arts and join any of more than 500 clubs and organizations outside of class.

The school's $4 billion endowment helps Vanderbilt meet 100% of student’s demonstrated financial need. Nearly half of students qualify for need-based aid, and the average need-based aid award slashes 65% off the school's annual sticker price. Vanderbilt’s no-loan financial aid packages means students don't have to load up on debt. About one-fourth of students borrow, but generous need-based and non-need-based aid help keep student borrowing to a minimum. Vandy awards non-need-based aid to 20% of students who don't receive need-based financial aid. The average non-need-based aid award of $22,372 cuts the school's annual sticker price by 36%.

Skip advert
Skip advert
Skip advert

7 of 10

7. Rice University

Courtesy of Rice University

Skip advert
  • Location: Houston, Tex.
  • Undergraduate enrollment: 3,926
  • 4-year grad rate: 82%
  • Total annual cost: $56,703
  • Avg. need-based aid: $34,954
  • Average graduating debt: $22,241
  • Salary yardstick: $59,900
  • SEE ALSO: SLIDE SHOW: 10 Best College Majors for a Lucrative Career

Located in the heart of the nation's fourth-largest city, Rice University stands out for its low six-to-one student-faculty ratio and 97% freshman retention rate. The school is also an attractive option for families who don't expect to qualify for financial aid but still need to keep college costs in check. Rice's annual sticker price of $56,703 is the second lowest among the top 20 schools in our combined list. The school awards need-based aid to nearly 40% of students—cutting the annual sticker price by 62%. And 21% of students who don't qualify for need-based aid receive merit aid, with an average non-need-based aid award of $13,730. About two-thirds of graduates avoid borrowing.

Skip advert
Skip advert
Skip advert

8 of 10

8. Pomona College

Skip advert
  • Location: Claremont, Calif.
  • Undergraduate enrollment: 1,650
  • 4-year grad rate: 90%
  • Total annual cost: $63,670
  • Avg. need-based aid: $41,443
  • Average graduating debt: $16,273
  • Salary yardstick: $52,600

This small college in southern California attracts bright students from around the country and the world for its broad-based liberal arts curriculum and idyllic campus, located within an hour's drive of Los Angeles, the mountains, the desert and beaches. Fueling its success in our rankings are stellar academics, including a competitive 12% admission rate and high test scores among incoming freshmen—73% score 700 or higher on the critical-reading portion of the SAT, and 75% score top marks on the math portion. Students can select from 47 majors in the arts, humanities, social sciences and natural sciences. With a freshman retention rate of 99%, Pomona has one of the highest rate of any school on our list, and 90% of its students graduate on time.

On the financial side, the school's average need-based-aid award cuts the annual sticker price by 65%. And Pomona's no-loan policy keeps student debt to a minimum. About one-third of students borrow, but the average debt of $16,273 is just over half of the national average for private-school borrowers.

Skip advert
Skip advert
Skip advert

9 of 10

9. Yale University

Skip advert
  • Location: New Haven, Conn.
  • Undergraduate enrollment: 5,477
  • 4-year grad rate: 87%
  • Total annual cost: $63,250
  • Avg. need-based aid: $45,710
  • Average graduating debt: $14,853
  • Salary yardstick: $66,000
  • SEE ALSO: SLIDE SHOW: 10 Worst College Majors for Your Career

Yale's top-notch academics—including a highly competitive 6% acceptance rate and high test scores among incoming freshmen—help this Ivy secure its place on our best values list. Nearly 80% of incoming freshmen score 700 or higher on the critical-reading and math portions of the SAT. Once on campus, Yalies can choose from among roughly 2,000 courses each year in more than 145 departments and programs. And no matter which courses students choose to enroll in, they have access to plenty of academic brainpower, thanks to the school's six-to-one student-faculty ratio.

Yale's $25.6 billion endowment helps the school meet 100% of financial need for students who qualify, with half of students receiving need-based aid. The average need-based-aid award cuts the school’s annual sticker price by 72%. Like many of our top contenders, Yale doesn't include loans in financial aid awards. Parents: Don't assume that you make too much money to qualify for need-based aid—the only kind that Yale offers. Families earning $200,000 or more may still qualify for some financial help.

Skip advert
Skip advert
Skip advert

10 of 10

10. The University of North Carolina at Chapel Hill

Skip advert
  • Location: Chapel Hill, N.C.
  • Undergraduate enrollment: 18,350
  • 4-year grad rate: 81%
  • Total out-of-state annual cost: $46,017
  • Avg. need-based aid: $14,791
  • Average graduating debt: $18,945
  • Salary yardstick: $50,400

A blend of strong academics and financial aid help the Tar Heels, a perennial winner of our public college rankings, break into the top 10 on our combined best values list. The school also heads our list of public colleges, for both in-state and out-of-state students. The University of North Carolina at Chapel Hill has a stellar academic record, including a 28% admission rate and solid test scores (24% of students score 700 or higher on the critical-reading portion of the SAT, and 32% score top marks on the math section).

Although UNC's annual out-of-state sticker price is higher than the national average for out-of-state cost of attendance at four-year public colleges ($34,031), generous need-based aid awards, which are doled out to 43% of students, cut the school's annual out-of-state sticker price by 32%. Much of this aid is awarded as scholarships and grants (which don't have to be repaid) rather than loans.

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

Recommended

11 Education Tax Credits and Deductions for 2022
Tax Breaks

11 Education Tax Credits and Deductions for 2022

Whether you're saving for college, currently paying tuition, or dealing with student loan debt, there's probably an education tax break that can help …
June 30, 2022
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
How to Qualify for Public Service Loan Forgiveness
Paying for College

How to Qualify for Public Service Loan Forgiveness

The Department of Education revamped the Public Service Loan Forgiveness program started under the Bush administration. Here's how to see if you quali…
June 1, 2022

Most Popular

How to Use Your Estate Plan to Save on Taxes While You’re Still Alive!
estate planning

How to Use Your Estate Plan to Save on Taxes While You’re Still Alive!

Upstream basis planning is a trust strategy that can save wealthy people on their capital gains taxes and income taxes associated with highly apprecia…
July 3, 2022
Your Guide to Roth Conversions
Special Report
Tax Breaks

Your Guide to Roth Conversions

A Kiplinger Special Report
February 25, 2021
The 15 Best Growth Stocks for the Rest of 2022
growth stocks

The 15 Best Growth Stocks for the Rest of 2022

A sharp selloff in growth stocks this year creates opportunity for keen investors. Here are 15 top-rated picks to consider in the second half of 2022.
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