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
  • More
    • Podcasts
    • Economic Outlooks
    • Tools
  • My Kiplinger
    • 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
  • Home
  • college
Paying for College

10 Private Colleges With the Lowest Graduating Debt

Amid national concern over the amount of debt college students are taking on, these private institutions -- five universities and five liberal arts colleges -- offer enough financial assistance to keep average student debt to a minimum while offering a great education.

by: Kiplinger Team
January 1, 2012

Amid national concern over the amount of debt college students are taking on, these private institutions -- five universities and five liberal arts colleges -- offer enough financial assistance to keep average student debt to a minimum while offering a great education. It is that combination of quality and affordability that puts these institutions among Kiplinger’s top 200 best values in private colleges and universities.By Jane Bennett Clark November 2010

1 of 11

1. Princeton University

  • Location: Princeton, New Jersey
  • Overall Rank: (among private universities): 1
  • Total Annual Cost: $49,780
  • Average Graduating Debt: $4,957

Princeton’s ground-breaking financial aid policy, which replaced loans with grants, contributes to its number-one ranking for overall value and puts it at the top of the list for average debt on graduation. Students at this Ivy League institution walk away with about one-fifth the average debt of students who borrow at all private schools.

2 of 11

2. Williams College

  • Location: Williamstown, Massachusetts
  • Overall Rank: (among liberal-arts colleges): 3
  • Total Annual Cost: $53,140
  • Average Graduating Debt: $7,960

This elite liberal arts college meets 100% of its students’ financial need and admits students regardless of their ability to pay. The school offers no-loan financial aid to families who qualify.

3 of 11

3. Berea College

Parkerdr

  • Location: Berea, Kentucky
  • Overall Rank: (liberal-arts colleges): 82
  • Total Annual Cost: $31,494
  • Average Graduating Debt: $8,133

You can’t beat scholarships that cover tuition for keeping student debt down. This Kentucky college covers tuition to all accepted students and extends additional grants to students who qualify for need-based aid. Some students borrow to meet other educational costs.

4 of 11

4. California Institute of Technology

  • Location: Pasadena, California
  • Overall Rank: (private universities): 3
  • Total Annual Cost: $49,002
  • Average Graduating Debt: $8,218

A longtime leader in limiting student debt, Caltech attracts top students from around the country -- almost 100% of its incoming class scored over 700 on the math SAT, and over 71% scored over 700 on the verbal -- and puts them in close contact with faculty, including five Nobel prize winners.

5 of 11

5. Claremont McKenna College

  • Location: Claremont, California
  • Overall Rank: (liberal-arts colleges): 7
  • Total Annual Cost: $53,625
  • Average Graduating Debt: $9,259

One of just five institutions in our top 200 to keep average debt on graduation below $10,000, Claremont McKenna is a member of the Claremont Colleges. Of the seven colleges in the consortium, all five of those that offer an undergraduate degree appear in Kiplinger’s top 50 best values.

6 of 11

6. Yale University

Michael Marsland/Yale University

  • Location: New Haven, Connecticut
  • Overall Rank: (private universities): 2
  • Total Annual Cost: $50,080
  • Average Graduating Debt: $10,717

With one of the most lavish financial aid packages on both our lists and a stellar graduation rate (97% of students graduate on time), Yale delivers its world-class education affordably and efficiently.

7 of 11

7. Harvard University

Harvard University

  • Location: Cambridge, Massachusetts
  • Overall Rank: (private universities): 6
  • Total Annual Cost: $53,227
  • Average Graduating Debt: $10,871

The most competitive school in the country extends need-based financial aid to families with incomes approaching $200,000. Its average aid package is among the highest on our rankings. A Harvard degree? Priceless.

8 of 11

8. Scripps College

  • Location: Claremont, California
  • Overall Rank: (liberal-arts colleges): 25
  • Total Annual Cost: $53,227
  • Average Graduating Debt: $11,270

This tiny, all-woman’s school has boosted its grant aid by 10% over the 2009-10 year and offers both need-based and merit-based financial aid. It shares its scenic setting at the foot of the San Gabriel Mountains with the other Claremont colleges, including Pomona and Claremont McKenna.

9 of 11

9. Amherst College

Location: Amherst, MassachusettsOverall Rank: (liberal-arts colleges): 8Total Annual Cost: $52,522Average Graduating Debt: $11,347 The average financial aid at this top-notch New England school -- $39,451 -- is the highest in our rankings. That generosity, combined with a no-loan financial aid policy, helps keep debt manageable for students who graduate.

10 of 11

10. Columbia University

Columbia University/Eileen Barroso

  • Location: New York, New York
  • Overall Rank: (private universities): 8
  • Total Annual Cost: $57,192
  • Average Graduating Debt: $11,564

Set in one of the world’s most expensive cities, Columbia still delivers its Ivy League education while keeping the average student debt at less than half the national average for graduating seniors.

11 of 11

More From Kiplinger

SLIDE SHOW: Top 10 Liberal Arts CollegesSLIDE SHOW: Top 10 Private UniversitiesSPECIAL REPORT: Best College ValuesTOOL: See Our Complete RankingsQUIZ: Test Your Knowledge of Financial AidSPECIAL REPORT: Paying for College

  • college
  • Paying for College
Share via EmailShare on FacebookShare on TwitterShare on LinkedIn

Recommended

12 Ways the Biden Stimulus Package Could Put (or Keep) Money in Your Pocket
Coronavirus and Your Money

12 Ways the Biden Stimulus Package Could Put (or Keep) Money in Your Pocket

President-elect Biden's "American Rescue Plan" includes several proposals to assist people financially harmed by the pandemic.
January 15, 2021
Will College Students Get a Second Stimulus Check? (Hint: It Depends!)
taxes

Will College Students Get a Second Stimulus Check? (Hint: It Depends!)

College students were shut out of the first round of stimulus payments, but they're hoping for a better deal with a second stimulus check.
December 28, 2020
What the New President Means for Your Money
Politics

What the New President Means for Your Money

President-Elect Biden wants more consumer protections and perks for the middle class and seniors.
November 17, 2020
20 Things You Need to Know About Getting Into a Military Service Academy
Paying for College

20 Things You Need to Know About Getting Into a Military Service Academy

The U.S. Military Academy at West Point, Naval Academy, Air Force Academy, Coast Guard Academy and Merchant Marine Academy offer a tuition-free educat…
November 11, 2020

Most Popular

Where's My Stimulus Check? Use the IRS's "Get My Payment" Portal to Get an Answer
Coronavirus and Your Money

Where's My Stimulus Check? Use the IRS's "Get My Payment" Portal to Get an Answer

The IRS has an online tool that lets you track the status of your second stimulus check.
January 18, 2021
Biden Calls for $1,400 Payments as Part of $1.9 Trillion Relief Package
Coronavirus and Your Money

Biden Calls for $1,400 Payments as Part of $1.9 Trillion Relief Package

Under Biden's plan for a third stimulus check, the $600 second-round stimulus checks would be increased to $2,000.
January 14, 2021
When Could We Get a Third Stimulus Check?
Coronavirus and Your Money

When Could We Get a Third Stimulus Check?

President-elect Joe Biden and others in Congress are pushing for a third-round of stimulus checks, but it might be a while before we get them.
January 18, 2021
  • 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
Dennis Publishing Ltd logoLink to Dennis Publishing Ltd website
Do Not Sell My Information

The Kiplinger Washington Editors, Inc., is part of the Dennis Publishing Ltd. Group.
All Contents © 2021, The Kiplinger Washington Editors

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