Thursday, July 16, 2015
“Thanks to generous aid packages or lower-than-average tuition — or a combination of the two —the total cost of a four-year education at one of these 50 schools is typically the lowest you’ll pay at any private school on Money’s Best Colleges list,” according to the magazine.
Money evaluated the nation’s roughly 1,500 four-year colleges and universities to determine which give students and families the best value for their money. Of those, 736 made the list and, from there, they were ranked on 21 factors in three main categories: Quality of Education, Affordability, and Outcomes. The rankings also took into account graduation rates, return on investment and alumni earnings, among other factors.
From the 736 colleges and universities, Money further narrowed its rankings to select groups of top schools, with Mercyhurst taking its place among the “50 Most Affordable Private Colleges.” A Mercyhurst degree costs just over $119,700, Money said. Other categories include:
“As a Mercy institution, we’ve long been committed to ensuring a Mercyhurst degree is affordable and accessible to students from all walks of life,” said Joseph Howard, Mercyhurst’s vice president for enrollment. “To that end, last year, we awarded nearly $50 million in institutional scholarships and grants to students on our Erie and North East campuses. We’re proud that Money’s recent rankings affirm that commitment.”
This marks Money’s second year in ranking US colleges and universities and, according to a July 13 report in The Washington Post, “Given the relative youth of Money’s list, it doesn’t get nearly as much attention as the one from U.S. News, but it should. Money tries to crack the code on answering the ROI question, and of all the rankings out there, comes the closest.”
The report also stated that “Unlike U.S. News, which focuses on several measures that really shouldn’t matter to students — percentage of alumni who donate, for example — Money magazine tries to answer the questions that prospective students should be asking on their college tours this summer: What is the graduation rate, net price (what’s the real tuition they’ll pay), how much do they and their parents have to borrow in loans, and will they learn any marketable skills that will help them get a job in order to pay back those loans?”