Best Values in Higher Education:
Few people would disagree that attaining a college degree is a good decision, so it should come as no surprise that choosing the right college is an important decision also. Higher education should present great academic and life long career opportunities; but it should also present good value and costs that won’t break a bank account.
The Princeton Review has rated the best value schools based on data collected from more than 650 institutions during the 2005-2006 academic year and surveys of students attending them. Collectively, this 2008 Edition considers undergraduate academics, costs and financial aid as factors in determining the results.
Their list of top ten best value private schools include:
- Rice University
- Williams College
- Grinnell College
- Swarthmore College
- Thomas Aquinas College
- Wabash College
- Whitman College
- Amherst College
- Scripps College
- Harvard College.
Topping the tuition prices for this list is Amherst College with out-of-state tuition costing $35,580 per year. The lowest was Thomas Aquinas College with a cost of $21,400.
For public colleges, the University of Minnesota in Morris came in at $8,720 for one year of out-of-state, while the highest tuition in the top ten was University of Virginia at $25,643 for one year of out-of-state. Others in the top ten for public schools were:
- New College of Florida
- Truman State University
- University of North Carolina at Asheville
- University of California-Berkeley
- University of California-San Diego
- University of California-Santa Cruz
- University of Wisconsin-Madison
- St. Mary’s College of Maryland
- University of Minnesota in Morris
- University of Virginia
Great value means not just a good price, but a solid academic system as well. The schools in the review emulate those qualities. Within Arizona and Montana, these schools were listed as having the best value:
- Arizona State University in Tempe, AZ; average yearly tuition for in-state residents is $5,063 and $17,697 for out-of-state.
- Prescott College in Arizona with an average tuition of $21,492 for all students.
- Montana Tech of the University of Montana, located in Butte, MT; average yearly tuition for in-state residents is $5,644 and $15,076 for out-of-state.
There are also more advantages to attending school in-state for higher education besides a shorter trip home to do your laundry. Students who obtain out-of-state education often end up paying triple the amount they would if they had stayed in-state. Universities and colleges can charge tuition in favor of in-state residents; consequently the out-of-state residents cover the remainder of that year’s costs.
For example, while a student from Virginia attending the University of Virginia will only pay $6,628 per year, the out-of-state resident will be paying $25,643. That equals $102,572 for the out-of-state student and $26,512 for the in-state student after 4 years of attendance. That could be a big difference in expenses even if financial aid is applied.
So if you or your children are beginning to look at college options, keep in mind the studies from the Princeton Review and get the most bang for your buck. If tuition prices are a deciding factor in a choice for higher education, taking a look at what is available in your own state is a good place to start. The full report from the Princeton Review can be viewed on www.collegesavings.com within the research section.