Truman State University president Troy Paino sits at the head of a long table facing six students, all members of an honors society that regularly meets with him. "What's the value of a Truman education?" he asks.
As the winter sun descends over the red-brick campus buildings outside the window, the students extol the merits of core courses and ponder whether taxpayers should subsidize nonvocational training. One student contends that employers will value her well-rounded background; another argues that the liberal arts endanger your ability to reason by encouraging you to value all ideas equally—even the crackpot theories. The meeting ends, and the students head out into the cold to study or socialize, setting aside the bigger questions of college value for the daily rigors—and fun—of academic life.
When it comes to Kiplinger's top 100 values in public education, we'll leave the philosophical debates to the academics. Instead, we rank our schools on more-tangible measures of academic quality—including test scores and four-year graduation rates—as well as affordability. Truman State, a small public school in Kirksville, Mo., has traditionally landed in the top third of our rankings. This year, it finishes at number 19, thanks to strong academics and an affordable price.
The University of North Carolina at Chapel Hill tops the list for the 12th time. The school has earned a first-place trophy every time Kiplinger's has ranked public colleges. SUNY Geneseo claims the number-one title for out-of-state value.
Why is the University of North Carolina at Chapel Hill a perennial favorite? Credit its stellar academics, reasonable sticker price and generous financial aid. At 77%, Carolina's four-year graduation rate is about 45 percentage points higher than the average rate for four-year public schools. Its 31% admission rate (the percentage of applicants who are accepted out of those who apply) makes it among the most competitive schools on our list.
Carolina's total annual cost runs less than $20,000—a bargain compared with private schools, which run an average of $39,518 a year, according to the College Board. Financial aid brings the cost to an average of $6,035 a year. And Carolina meets 100% of students' financial need, one of only two schools in our rankings to do so (the University of Virginia, number two, is the other). "Meeting full need is a huge challenge, but it is such a high priority for us that we make whatever adjustments we have to," says UNC Chancellor Holden Thorp, who will step down in June.
Although UNC has absorbed more than $230 million in state cuts since 2008, this year's budget has held steady and even included a modest salary increase for university employees. "We're getting things back to where they were," says Thorp. "And we're happy about that."
SUNY Geneseo, a small honors college 35 miles south of Rochester, N.Y., edged out UNC for the top spot for out-of-state value, based primarily on total cost ($27,769 for out-of-staters). Its academics didn't top UNC's but were solid enough when combined with price to launch it into first place.
Other high achievers include the University of Virginia, which moved up one spot over last year. Its 97% freshman retention rate ties with several other schools, including UNC, for the best record, and UVA's 87% four-year graduation rate is the highest on our list. The University of Maryland at College Park jumped three places, to number five, thanks to an improved four-year graduation rate and a minimal increase in total cost over last year.
The State of State Schools
Despite a slowly improving economy, the landscape for public colleges continues to look bleak. Having endured cuts in state appropriations over the past several years, colleges have bumped up class sizes and trimmed administrative staff. Meanwhile, the average sticker price—$17,860 for in-staters and $30,911 for out-of-staters, according to the College Board—climbed 4.2% and 4.1%, respectively, over last year, once again outpacing inflation and family incomes. An even bigger cause for concern: The net price (sticker price minus financial aid) for in-state students has risen for the third year in a row.
The outlook for new grads isn't much better. Many recent graduates are swapping mortarboards for part-time or low-paying jobs, while tackling student debt. "The notion that college is a ticket to a good, middle-class life of prosperity is perceived to be less true today," says Richard Vedder, of the Center for College Affordability and Productivity. Still, a typical college grad can expect to make about $20,000 more per year than the typical high school graduate.
As the winter sun descends over the red-brick campus buildings outside the window, the students extol the merits of core courses and ponder whether taxpayers should subsidize nonvocational training. One student contends that employers will value her well-rounded background; another argues that the liberal arts endanger your ability to reason by encouraging you to value all ideas equally—even the crackpot theories. The meeting ends, and the students head out into the cold to study or socialize, setting aside the bigger questions of college value for the daily rigors—and fun—of academic life.
When it comes to Kiplinger's top 100 values in public education, we'll leave the philosophical debates to the academics. Instead, we rank our schools on more-tangible measures of academic quality—including test scores and four-year graduation rates—as well as affordability. Truman State, a small public school in Kirksville, Mo., has traditionally landed in the top third of our rankings. This year, it finishes at number 19, thanks to strong academics and an affordable price.
The University of North Carolina at Chapel Hill tops the list for the 12th time. The school has earned a first-place trophy every time Kiplinger's has ranked public colleges. SUNY Geneseo claims the number-one title for out-of-state value.
Why is the University of North Carolina at Chapel Hill a perennial favorite? Credit its stellar academics, reasonable sticker price and generous financial aid. At 77%, Carolina's four-year graduation rate is about 45 percentage points higher than the average rate for four-year public schools. Its 31% admission rate (the percentage of applicants who are accepted out of those who apply) makes it among the most competitive schools on our list.
Carolina's total annual cost runs less than $20,000—a bargain compared with private schools, which run an average of $39,518 a year, according to the College Board. Financial aid brings the cost to an average of $6,035 a year. And Carolina meets 100% of students' financial need, one of only two schools in our rankings to do so (the University of Virginia, number two, is the other). "Meeting full need is a huge challenge, but it is such a high priority for us that we make whatever adjustments we have to," says UNC Chancellor Holden Thorp, who will step down in June.
Although UNC has absorbed more than $230 million in state cuts since 2008, this year's budget has held steady and even included a modest salary increase for university employees. "We're getting things back to where they were," says Thorp. "And we're happy about that."
SUNY Geneseo, a small honors college 35 miles south of Rochester, N.Y., edged out UNC for the top spot for out-of-state value, based primarily on total cost ($27,769 for out-of-staters). Its academics didn't top UNC's but were solid enough when combined with price to launch it into first place.
Other high achievers include the University of Virginia, which moved up one spot over last year. Its 97% freshman retention rate ties with several other schools, including UNC, for the best record, and UVA's 87% four-year graduation rate is the highest on our list. The University of Maryland at College Park jumped three places, to number five, thanks to an improved four-year graduation rate and a minimal increase in total cost over last year.
The State of State Schools
Despite a slowly improving economy, the landscape for public colleges continues to look bleak. Having endured cuts in state appropriations over the past several years, colleges have bumped up class sizes and trimmed administrative staff. Meanwhile, the average sticker price—$17,860 for in-staters and $30,911 for out-of-staters, according to the College Board—climbed 4.2% and 4.1%, respectively, over last year, once again outpacing inflation and family incomes. An even bigger cause for concern: The net price (sticker price minus financial aid) for in-state students has risen for the third year in a row.
The outlook for new grads isn't much better. Many recent graduates are swapping mortarboards for part-time or low-paying jobs, while tackling student debt. "The notion that college is a ticket to a good, middle-class life of prosperity is perceived to be less true today," says Richard Vedder, of the Center for College Affordability and Productivity. Still, a typical college grad can expect to make about $20,000 more per year than the typical high school graduate.
