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 Private Colleges Under $20K, 2014

When it comes to college costs, the price tag often has little resemblance to what students actually pay.

by: Susannah Snider, Marc A. Wojno
March 3, 2014
Education costs

Thinkstock

Skip advert

When it comes to college costs, the price tag often has little resemblance to what students actually pay. The net price -- the annual cost in tuition, fees, room, board and books after need and merit-based aid -- at private institutions is typically about half the sticker price.

These ten schools from our annual rankings of the best private college values do better than typical. Although the majority of them have high sticker prices (at three schools, the sticker price approaches $60,000), each has a net price of less than $17,000 for most students after need-based aid is figured in. Students who borrow from these schools walk away with less -- often much less -- than the average student debt of about $27,000.

As you click through the slides, expect to see a diverse group of schools from around the country. Six are liberal arts colleges, and four are private universities. Enrollments are as small as 400 and as large as 30,000. Three of them are among the top five in overall our rankings for private universities and liberal arts colleges.

Skip advert
Skip advert
Skip advert

1 of 11

1. Berea College

Skip advert
  • Location: Berea, Ky.
  • Undergraduate enrollment: 1,658
  • Total annual cost: $7,920
  • Avg. need-based aid: $3,469
  • Avg. net cost: $4,451
  • Kiplinger's rank: #63 among liberal arts colleges

The secret to Berea’s super-affordable net price is that the school awards each admitted student a full four-year tuition scholarship--full freight. Room, board, fees and books may be covered by other scholarships or through loans and savings. Berea Mountaineers shell out less than $5,000, on average, for their education, and students who borrow graduate with just $7,224 in average debt. Berea admits only students with financial need. More than half come from families where neither parent has a college degree.

Skip advert
Skip advert
Skip advert

2 of 11

2. Brigham Young University

Skip advert
  • Location: Provo, Utah
  • Undergraduate enrollment: 31,060
  • Total annual cost: $17,942 (non-Mormon); $13,092 (Mormon)
  • Avg. need-based aid: $4,603
  • Avg. net cost: $13,339 (non-Mormon); $8,489 (Mormon)
  • Kiplinger's rank: #32 among private universities

BYU is probably best-known for serving the Mormon community. The school is sponsored by The Church of Jesus Christ of Latter-day Saints, and members of the church get an almost $5,000 tuition break. But both Mormons and non-Mormons pay less than $18,000 to attend the institution. Fewer than one-third of students borrow, and those who do borrow graduate with an average debt of less than $15,000.

Skip advert
Skip advert
Skip advert

3 of 11

3. Principia College

Courtesy of Principia College

Skip advert
  • Location: Elsah, Ill.
  • Undergraduate enrollment: 489
  • Total annual cost: $37,480
  • Avg. need-based aid: $22,681
  • Avg. net cost: $14,799
  • Kiplinger's rank: #56 among liberal arts colleges

Perched on bluffs overlooking the Mississippi River 45 miles from St. Louis, this tiny liberal arts college is a National Historic Landmark. Although it’s not affiliated with the Christian Science church, church principles form the backdrop of college culture. Students who borrow graduate with less than $22,000 in debt, better than the national average.

Skip advert
Skip advert
Skip advert

4 of 11

4. Yale University

Yale University

Thinkstock

Skip advert
  • Location: New Haven, Conn.
  • Undergraduate enrollment: 5,405
  • Total annual cost: $58,550
  • Avg. need-based aid: $43,115
  • Avg. net cost: $15,435
  • Kiplinger's rank: #1 among private universities

Our top-ranked private university for the second consecutive year has an extensive student aid program. For those who gain entry (only 7% of applicants), Yale meets 100% of need and extends need-based aid to families earning as much as $200,000 per year. Just 17% of undergraduates borrow, and they graduate with a little more than $10,000 in debt, on average.

Skip advert
Skip advert
Skip advert

5 of 11

5. Amherst College

Skip advert
  • Location: Amherst, Mass.
  • Undergraduate enrollment: 1,817
  • Total annual cost: $59,714
  • Avg. need-based aid: $43,424
  • Avg. net cost: $16,290
  • Kiplinger's rank: #5 among liberal arts colleges

At almost $60,000, the sticker price at Amherst might look shocking, but $43,424 in need-based aid brings the average net price to just $16,290. Less than one-third of students borrow to attend this top-notch liberal arts college, and they graduate with an average debt that’s less than $15,000.

Skip advert
Skip advert
Skip advert

6 of 11

6. Christendom College

Courtesy of Christendom College

Skip advert
  • Location: Front Royal, Va.
  • Undergraduate enrollment: 388
  • Total annual cost: $31,650
  • Avg. need-based aid: $15,192
  • Avg. net cost: $16,458
  • Kiplinger's rank: #49 among liberal arts colleges

Overlooking the Shenandoah River in the shadow of the Blue Ridge Mountains, this small, Roman Catholic college provides an 86-hour core curriculum that includes such subjects as theology, philosophy, literature, political science, mathematics and the natural sciences. Founded in 1977, the school attracts students from 45 states and seven foreign countries. It provides generous need-based aid to 77% of its students and merit aid to 96% of undergraduates without need. Christendom meets 90% of financial need in no-loan packages averaging more than $15,000.

Skip advert
Skip advert
Skip advert

7 of 11

7. Harvard University

Harvard in the spring

Thinkstock

Skip advert
  • Location: Cambridge, Mass.
  • Undergraduate enrollment: 6,658
  • Total annual cost: $57,497
  • Avg. need-based aid: $40,950
  • Avg. net cost: $16,547
  • Kiplinger's rank: #4 among private universities

America’s oldest college also has one of the most generous financial-aid packages among Ivy League schools, thanks in part to its huge endowment valued at $33 billion as of September. With an average need-based-aid per student of more than $40,000, the net cost drops by a sharp 71%. Harvard provides full aid to 63% of undergraduates who receive need-based assistance. The school recently launched a $6.5 billion capital campaign -- the largest fund-raising effort to date in higher education if successful -- that would, in part, help fund research into neuroscience, stem cell science and energy.

Skip advert
Skip advert
Skip advert

8 of 11

8. Wofford College

Skip advert
  • Location: Spartanburg, S.C.
  • Undergraduate enrollment: 1,568
  • Total annual cost: $45,795
  • Avg. need-based aid: $28,915
  • Avg. net cost: $16,880
  • Kiplinger's rank: #32 among liberal arts colleges

This liberal arts college, affiliated with the United Methodist Church, offers 25 majors and 17 minors in fields including economics, intercultural studies and computer science. Founded in 1854, the pre-Civil War college provides generous need-based financial aid, dropping the sticker price by nearly two-thirds on average. Merit aid averaging $14,769 helps students who do not qualify for need-based aid.

Skip advert
Skip advert
Skip advert

9 of 11

9. Centenary College of Louisiana

Skip advert
  • Location: Shreveport, La.
  • Undergraduate enrollment: 698
  • Total annual cost: $42,175
  • Avg. need-based aid: $25,230
  • Avg. net cost: $16,945
  • Kiplinger's rank: #74 among private universities

The oldest chartered liberal arts college west of the Mississippi River, this small school is also affiliated with the United Methodist Church, like Wofford. More than half of its students qualify for need-based aid, and half of students without need qualify for merit aid. Need-based aid helps drive down the total annual cost to students who qualify by 60%, making this one of the most affordable colleges in the South on our combined list of private universities and liberal arts colleges.

Skip advert
Skip advert
Skip advert

10 of 11

10. Thomas Aquinas College

Courtesy of Thomas Aquinas College

Skip advert
  • Location: Santa Paula, Cal.
  • Undergraduate enrollment: 370
  • Total annual cost: $32,450
  • Avg. need-based aid: $15,498
  • Avg. net cost: $16,952
  • Kiplinger's rank: #41 among liberal arts colleges

For 42 years, this small, Roman Catholic college has provided a curriculum based on “the great books” -- by its description, “seminal texts that have, for good or for ill, animated Western civilization . . . [speaking] to the reality at the core of human experience.” Teachers guide small groups of students (the student-faculty ratio is 12-to-one) in Socratic discussions. Thomas Aquinas’s classics-based education is affordable, too. Its modest sticker price of $32,450 -- one of the lowest for private colleges on our list -- drops nearly 50%, on average, after need-based aid is applied. Although it doesn’t offer merit aid, Thomas Aquinas does meet 100% of need; 81% of students qualify for this aid.

Skip advert
Skip advert
Skip advert

11 of 11

More From Kiplinger

College Students on Campus

Thinkstock

Skip advert

TOOL: Find the Best College for You

SLIDE SHOW: 10 Best Values in Private Universities, 2014

SLIDE SHOW: 10 Best Values in Liberal Arts Colleges, 2014

TOOL: Compare All Top 200 Schools

SPECIAL REPORT: College Rankings, 2014

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 Best Dow Dividend Stocks to Buy Now
blue chip stocks

5 Best Dow Dividend Stocks to Buy Now

This mini-portfolio of blue-chip dividend payers is well-positioned to both generate income and hold up to headwinds for the rest of 2022.
June 27, 2022
Your Guide to Roth Conversions
Special Report
Tax Breaks

Your Guide to Roth Conversions

A Kiplinger Special Report
February 25, 2021
Top Bear Market Tips from 10 Financial Advisers
investing

Top Bear Market Tips from 10 Financial Advisers

When a bull market turns into a bear market, it can be hard to know what to do. Take comfort in the guidance of 10 financial professionals.
June 30, 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