Indiana Colleges Among Best Values

Press Release

Washington, DC (November 4, 2009)—Kiplinger’s Personal Finance today announces its 100 best values in private institutions, ranking private liberal arts colleges and universities that combine outstanding economic value with exceptional education. Pomona College tops the liberal-arts list for the second consecutive year, and the California Institute of Technology (Caltech) heads the private university list for the fourth time running. The annual private school rankings appear in Kiplinger’s December 2009 issue—on newsstands November 10—and online now at www.kiplinger.com/reports/best-college-values/.

Financial resources continue to be tight for both parents and colleges in the troubled economy, but many students who applied to college for the 2009–10 academic year actually received more financial help than the previous year’s applicants. Independent colleges boosted financial aid by 9% while keeping tuition increases—an average of 4.3%—to their lowest levels in four decades, increasing the average cost of a year at a private school to about $35,600. Worried about competition from public schools, some schools accepted more applicants, and many vigorously pruned expenses.

“This year’s top 100 private schools met the challenges of a slumping economy with brio,” says Janet Bodnar, editor of Kiplinger’s. “With so many private institutions offering generous financial aid packages, families are finding that private college is still affordable. In fact, the average tuition price can be as little as half or less of the sticker price—making them very competitive with public universities.”

Like many schools, Pomona College has coped with reduced endowment revenue and greater financial need by cutting expenses on everything except academics. As a member of the five-college Claremont consortium, Pomona is able to save money by sharing resources, including professors, across campuses. At this small school of some 1,500 students, almost all of its freshmen return for sophomore year, and 90% of its seniors graduate on time. As for financial aid, the average financial-aid package brings the $50,568 sticker price down to a modest $16,454.

Caltech students enjoy the ultimate in academic nurturing: a student-faculty ratio of three to one, the lowest ratio on the Kiplinger 100 list. Here, 100% of incoming freshmen score more than 700 on the math section of the SAT—and are educated by an elite faculty boasting five Nobel Prize winners. Caltech charges a relatively low sticker price of $46,629, and it knocks more than half off, on average, for students who qualify for need-based aid. Students graduate with an average debt of $9,871, the second-lowest on Kiplinger’s universities list.

Making an appearance on the Kiplinger 100 for the first time is the College of St. Benedict, which ranks #42 on the liberal-arts list, and Bradley University, which comes in at #42 among private universities. Liberal-arts institutions offering the lowest tuition include Wheaton (#22), Wofford (#31), College of St. Benedict (#42), Hillsdale (#45), Knox (#47) and Thomas Aquinas (#50). On the university side, Elon (#28), Creighton (#38), Whitworth (#39), Bradley (#42), the University of Tulsa (#45) and Gonzaga (#50) offer sticker prices under $40,000.

Selected from a pool of more than 600 private institutions provided by Peterson’s, schools in the Kiplinger 100 were ranked according to academic quality and affordability—with quality accounting for two-thirds of the total. The complete article—along with sortable rankings and methodology—is available at www.kiplinger.com/reports/best-college-values/.

About Kiplinger’s

For nine decades, the Kiplinger organization has led the way in personal finance and business forecasting. Founded in 1920 by W.M. Kiplinger, the company developed one of the nation's first successful newsletters in modern times. The Kiplinger Letter, launched in 1923, remains the longest continually published newsletter in the United States. In 1947, Kiplinger's created the nation's first personal finance magazine. Located in the heart of our nation's capital, the Kiplinger editors remain dedicated to delivering sound, unbiased advice for your family and your business in clear, concise language. Become a fan of Kiplinger on Facebook and follow Kiplinger updates on Twitter.

Source: Kiplinger's