Best Values in Public Colleges 2009-10

Best Values in Public Colleges 2009-10
Jane Bennett Clark
Thursday, January 21, 2010

Despite widespread budget cuts, these schools still deliver strong academics at affordable prices.
The economy may be recovering, but the effects of the recession continue to buffet the nation's public colleges and universities. State governments, coping with shrunken tax revenues and an overwhelming demand for services, have cut funding for higher education. Universities that once relied on the income from fat endowments have yet to recoup multimillion-dollar losses to their portfolios. Families continue to apply for financial aid in record numbers. Meanwhile, enrollment at state institutions has spiked as more students go public and more people overall seek college degrees.
The schools in our top 100 best values in public colleges and universities -- led by the University of North Carolina at Chapel Hill for overall value and by Binghamton University (SUNY) for out-of-state value -- continue to deliver strong academics at reasonable prices, in many cases by offering the same or more financial aid as in previous years. But no one can say that it has been easy.
To cope with less money and more students, public institutions, including many in our rankings, have slashed operating costs and raised tuition beyond the average increase of about five percentage points over inflation in recent years. The University of California system, caught in the downdraft of a state budget meltdown, imposed a midyear tuition hike of 15 percent, to be followed by another 15 percent increase in the summer, precipitating statewide protests. (Our rankings reflect tuition and fees, including midyear increases, as of December 1, 2009.)
With neither state nor college budgets able to turn on a dime, the immediate future for public higher education looks "difficult, challenging and messy," says Daniel Hurley, of the American Association of State Colleges and Universities. Your student could end up in bigger classes with more part-time instructors -- or worse yet, get shut out of a public college altogether as states limit enrollment to control costs.
In the best-case scenario, however, colleges will find more and better ways to preserve quality and eliminate fat, perhaps ultimately reducing the size or frequency of tuition increases. Some universities, including UNC-Chapel Hill and the University of Maryland at College Park (number 8 in our rankings), are already doing just that. "There's no reason we can't conduct nonacademic functions as efficiently as possible," says UNC chancellor Holden Thorp.
Last year, Thorp hired consultants Bain & Co. to help streamline operations, enabling the university to pare 10 percent in administrative expenses in anticipation of a state reduction in funding. "We insisted that the cuts be as far away from the classroom as we could get them," says Thorp. In Maryland, the university system struck a bargain with state leaders in which school administrators pledged to cut costs in exchange for a steady flow of state funding. Result? In-state students enjoyed a tuition freeze for four consecutive years.
Weighing Quality and Cost
Our definition of value begins with academics: No school is a bargain if it skimps on quality. All of the schools in our rankings perform well on measurable criteria, such as student-faculty ratios, academic competitiveness and on-time graduation rates.
The schools on our list also deliver an affordable education, our other measure of value, by keeping the sticker price low, offering plenty of financial aid or both. Of the colleges in our rankings, 39 charge about the same or less than the average annual in-state sticker price ($15,213) for four-year public institutions, and many come in well below that amount. Those prices look especially attractive compared with the average cost of a private-school education, which this year hit an average total of $35,636, according to the College Board.
You can also find bargains in our rankings for out-of-state students, who typically pay at least twice the price to attend someone else's home-state school. For example, Binghamton charges $26,075 a year to students who are not New York residents -- only one-third more than the in-state price. The school's large number of international students and its dual-degree programs with universities in Mexico, Russia and Turkey give the term out of state new meaning; but Binghamton's strong academics and affordable price attract interest from students across the U.S. as well. Says President Lois DeFleur, "With so many applications, we've become more selective. We're taking the best."
As for financial aid, the colleges on our list have managed to dig deep and dole out sufficient money to keep students coming. At UNC-Chapel Hill, an academic superstar that competes with the Ivies, the annual in-state cost for students with financial need comes to a dirt-cheap $5,912. The University of Virginia, another public Ivy (and number 3 on our list), and the New College of Florida (number 12), a tiny public honors school, charge students with need an average of less than $5,000.
Unlike many top-tier private universities, some of the high-ranked institutions on our list also offer non-need-based aid to encourage top achievers to enroll in-state. "One of our responsibilities as a land-grant institution is to keep the best and the brightest," says Sarah Bauder, director of the office of student financial aid at the University of Maryland. UNC-Chapel Hill, which offers need-based and merit aid to both residents and nonresidents, uses 25 percent of the revenue from logo-bearing T-shirts and sports memorabilia to stoke its merit-scholarship fund. Tar Heel fans keep the money rolling in, says Shirley Ort, associate provost and director of scholarships and student aid. "Luckily for us, we won a basketball championship in 2009."
UNC -- Still the One
Chapel Hill, a consistent winner of Kiplinger's top honors, maintains its lofty spot in our tables in part for its ability to attract and keep highflying students. Three-fourths or more of its incoming freshmen scored higher than 600 on both the verbal and math portions of their SATs, and almost all -- 96.5 percent -- stay on after freshman year. This year, Chapel Hill fielded more than 23,000 applications and admitted about 7,400, giving it a competitive 32 percent admission rate. Almost 20 percent of the admitted students were the first in their families to attend college.
Besides boasting top students, an outstanding faculty and a historic campus, Chapel Hill enjoys one big advantage over many other public schools: strong state support for financial aid. "Our aid money from the state has grown significantly over the past few years," says Ort. Although funding was trimmed a bit in the current academic year, she says, "we were still in an improved spot over the previous year." That support has enabled UNC to protect its financial-aid budget and to maintain its policy of minimizing or eliminating loans from the financial-aid packages for families with need.
Still, financial-aid applications at Chapel Hill jumped 17 percent this year over last year's number, which rose 13 percent over the previous year. Despite the demand, UNC plans to meet the need of every student who walks through its doors, says Thorp. "We're not going to back away from our traditions in financial aid."
Best Values in Public Colleges 2009-10


1. University of North Carolina at Chapel Hill
Undergraduate Enrollment: 17,895
SAT: 75 percent scored 600 or higher on verbal/math; ACT: 82 percent scored 24 or higher
Student/Faculty Ratio: 14
Graduation Rate 4-yr./6-yr.: 75 percent/88 percent
Total In-State Cost: $15,296
Total Out-of-State Cost: $33,184
Average Debt at Graduation: $14,936
Chapel Hill, a consistent winner of Kiplinger's top honors, maintains its lofty spot in part for its ability to attract and keep highflying students. This year, it fielded more than 23,000 applications and admitted about 7,400, giving it a competitive 32 percent admission rate.


2. University of Florida
Undergraduate Enrollment: 34,654
SAT: 65 percent; ACT: 73 percent
Student/Faculty Ratio: 20
Graduation Rate 4-yr./6-yr.: 54 percent/81 percent
Total In-State Cost: $12,863
Total Out-of-State Cost: $32,234
Average Debt at Graduation: $15,318
Low annual in-state costs and diverse academic programs are just a few reasons why this school ranks in the top of our list. On campus, students can find cutting-edge research facilities, ten libraries and Ben Hill Griffin Stadium (pictured right), home of the Florida Gators.


3. University of Virginia
Undergraduate Enrollment: 15,208
SAT: 78 percent; ACT: 83 percent
Student/Faculty Ratio: 15
Graduation Rate 4-yr./6-yr.: 85 percent/93 percent
Total In-State Cost: $19,312
Total Out-of-State Cost: $41,312
Average Debt at Graduation: $19,016
Considered a public Ivy League school, the University of Virginia doesn't come with a top-tier price tag for in-state students with financial need. It charges them, on average, less than $5,000.


4. College of William and Mary (Va.)
Undergraduate Enrollment: 5,850
SAT: 84 percent; ACT: 83 percent
Student/Faculty Ratio: 11
Graduation Rate 4-yr./6-yr.: 84 percent/92 percent
Total In-State Cost: $20,566
Total Out-of-State Cost: $40,358
Average Debt at Graduation: $12,859
This public school, which is the second oldest college in the U.S., looks and feels like an elite Ivy League institution. It has one of the lowest student-faculty ratios on our list and one the highest percentages of students who scored 600 or higher on the verbal and math SATs.


5. Binghamton University (SUNY)
Undergraduate Enrollment: 11,821
SAT: 66 percent; ACT: 83 percent
Student/Faculty Ratio: 20
Graduation Rate 4-yr./6-yr.: 69 percent/80 percent
Total In-State Cost: $18,175
Total Out-of-State Cost: $26,075
Average Debt at Graduation: $14,541
Binghamton charges $26,075 a year to students who are not New York residents -- only one-third more than the in-state price. The school's large number of international students and its dual-degree programs with universities in Mexico, Russia and Turkey give the term out of state new meaning; but Binghamton's strong academics and affordable price attract interest from students across the U.S. as well.


6. University of Georgia
Undergraduate Enrollment: 25,467
SAT: 58 percent; ACT: 62 percent
Student/Faculty Ratio: 18
Graduation Rate 4-yr./6-yr.: 51 percent/80 percent
Total In-State Cost: $16,636
Total Out-of-State Cost: $34,846
Average Debt at Graduation: $14,343
Most in-state students qualify for the merit-based HOPE scholarship, which covers tuition and mandatory fees -- making the school a great value for Georgia residents. University of Georgia is the nation's first state-chartered university, and recently it opened the world's first stand-alone academic school devoted specifically to the study of ecology. It also is home to Georgia's State Botanical Garden, State Museum of Art and State Museum of Natural History.


7. University of Washington
Undergraduate Enrollment: 29,397
SAT: 48 percent; ACT: 63 percent
Student/Faculty Ratio: 11
Graduation Rate 4-yr./6-yr.: 51 percent/77 percent
Total In-State Cost: $17,676
Total Out-of-State Cost: $34,351
Average Debt at Graduation: $16,800
One of the oldest public universities on the West Coast, this top research institution draws strong students from around the world to its Seattle-based campus, where the 11 to 1 student-faculty ratio gives them plenty of access to professors who include Nobel Prize winners and MacArthur Foundation award recipients.


8. University of Maryland, College Park
Undergraduate Enrollment: 26,431
SAT: 66 percent; ACT: 76 percent
Student/Faculty Ratio: 18
Graduation Rate 4-yr./6-yr.: 63 percent/82 percent
Total In-State Cost: $18,455
Total Out-of-State Cost: $34,392
Average Debt at Graduation: $20,091
University of Maryland, known for its engineering, journalism and computer-science programs, has risen to our top ten by keeping in-state costs virtually unchanged while improving on quality, especially in its graduation rates. Maryland also provides need-based financial aid to 50 percent of its students.


9. SUNY Geneseo
Undergraduate Enrollment: 5,451
SAT: 80 percent; ACT: 87 percent
Student/Faculty Ratio: 19
Graduation Rate 4-yr./6-yr.: 58 percent/78 percent
Total In-State Cost: $17,176
Total Out-of-State Cost: $25,076
Average Debt at Graduation: $18,700
Like the other State University of New York school on our list (Binghamton), SUNY Geneseo is a bargain for out-of-state students. Out-of-state costs are about $7,000 higher than in-state costs. Many public schools charge non-residents double the amount residents pay.


10. North Carolina State University
Undergraduate Enrollment: 24,741
SAT: 36 percent; ACT: 56 percent
Student/Faculty Ratio: 16
Graduation Rate 4-yr./6-yr.: 37 percent/70 percent
Total In-State Cost: $14,390
Total Out-of-State Cost: $26,875
Average Debt at Graduation: $14,996
This large university comprises ten colleges in disciplines including textiles, design, agriculture and veterinary medicine. At $14,390, its annual in-state costs are below the average ($15,213) for four-year public institutions and second-lowest in our top ten, after the University of Florida. NC State's relatively low out-of-state sticker price, $26,875, makes it number 9 for out-of-state value.
Click here to see the full list of Best Values in Public Colleges 2009-10