A mixed outlook
How will next year's college applicants fare? Prospects are mixed. Tuition increases should remain in the 4.3% range, Warren said, making the average annual total cost of a private-college education a little more than $37,000 in 2010-11. That's a smaller bump than the 6% increase of recent years. But the amount itself is hardly peanuts, especially compared with the $14,500 average total cost at a public school. Many private colleges already charge more than $50,000 per year.Meanwhile, colleges that recently expanded their financial aid, including replacing loans with grants, must now do so with vastly diminished endowments -- the well from which much of the aid is drawn. So far, top-tier schools have stood by their commitment. But some schools are quietly adjusting their admissions policies to weed out more-needy students, said David Oxtoby, the president of Pomona. He hopes to continue Pomona's no-loan policy, introduced in 2007, but won't guarantee it. "We can't commit to never pulling back."
Best values in private liberal-arts colleges
| Rank | School | State | Enrollment | Total cost* | Cost after aid based on need | Cost after aid not based on need | Average debt at graduation |
|---|---|---|---|---|---|---|---|
1 | Calif. | 1,532 | $50,568 | $16,454 | $50,568 | $11,300 | |
2 | Pa. | 1,490 | $50,750 | $19,035 | $14,596 | N/A | |
3 | Mass. | 1,997 | $50,680 | $14,305 | $50,680 | $9,214 | |
4 | N.C. | 1,668 | $46,030 | $25,526 | $29,433 | $25,025 | |
5 | Calif. | 1,212 | $51,380 | $19,229 | $40,257 | $10,518 | |
6 | Mass. | 1,697 | $49,678 | $13,907 | $49,678 | $12,603 | |
7 | Va. | 1,752 | $50,352 | $21,968 | $25,036 | $23,616 | |
8 | Mass. | 2,898 | $50,042 | $24,418 | $27,442 | $16,800 | |
9 | Maine | 1,846 | $51,020 | $20,214 | $28,620 | $19,222 | |
10 | Maine | 1,723 | $51,700 | $19,909 | $50,700 | $17,560 | |
11 | Vt. | 2,455 | $51,380 | $22,072 | $51,380 | $19,981 | |
12 | Pa. | 1,169 | $52,359 | $21,838 | $52,359 | $17,125 | |
13 | Minn. | 2,000 | $50,933 | $24,542 | $47,538 | $20,083 | |
14 | N.Y. | 1,872 | $51,160 | $23,813 | $36,709 | $18,259 | |
15 | Maine | 1,776 | $50,500 | $20,407 | $50,500 | $18,785 | |
16 | Conn. | 2,772 | $54,097 | $26,339 | $7,142 | $27,402 | |
17 | Mass. | 2,344 | $50,594 | $18,219 | $50,594 | $12,639 | |
18 | N.Y. | 2,389 | $52,330 | $21,631 | $52,330 | $19,910 | |
19 | Iowa | 1,678 | $45,912 | $19,991 | $35,203 | $19,526 | |
20 | Wash. | 1,489 | $45,412 | $21,949 | $37,459 | $16,684 | |
21 | Ohio | 1,644 | $50,640 | $23,671 | $38,861 | $19,462 | |
22 | Ill. | 2,366 | $35,090 | $20,600 | $30,052 | $21,549 | |
23 | N.Y. | 2,836 | $51,890 | $19,951 | $51,890 | $20,164 | |
24 | Calif. | 738 | $51,937 | $25,560 | $41,497 | $21,018 | |
25 | Minn. | 1,900 | $47,866 | $22,490 | $42,551 | $17,304 |
* Total cost reflects tuition, mandatory fees, room and board, and estimated expenses for books. It does not include additional meals, transportation or personal expenses.
Best values in private universities
| Rank | School | State | Enrollment | Total cost* | Cost after aid based on need | Cost after aid not based on need | Average debt at graduation |
|---|---|---|---|---|---|---|---|
1 | Calif. Institute of Technology, Pasadena | Calif. | 921 | $46,629 | $18,159 | $17,715 | $9,871 |
2 | Princeton | N.J. | 4,981 | $49,055 | $17,704 | $49,055 | $5,955 |
3 | Yale, New Haven | Conn. | 5,277 | $48,450 | $12,747 | $48,450 | $12,297 |
4 | Rice, Houston | Texas | 3,051 | $44,088 | $19,984 | $29,423 | $11,108 |
5 | Harvard, Cambridge | Mass. | 6,678 | $49,684 | $12,834 | $49,684 | $10,813 |
6 | Duke, Durham | N.C. | 6,496 | $51,125 | $20,235 | $23,406 | $24,205 |
7 | Columbia, New York | N.Y. | 5,667 | $54,789 | $21,038 | $54,789 | $18,420 |
8 | University of Pennsylvania, Philadelphia | Pa. | 9,756 | $51,080 | $23,969 | $51,080 | $19,085 |
9 | Dartmouth College, Hanover | N.H. | 4,147 | $51,821 | $18,373 | $51,371 | $20,126 |
10 | MIT, Cambridge | Mass. | 4,153 | $50,292 | $20,234 | $50,292 | $14,148 |
11 | Stanford | Calif. | 6,532 | $51,267 | $20,661 | $47,752 | $15,724 |
12 | Brown, Providence | R.I. | 6,095 | $50,394 | $20,468 | $50,394 | $19,390 |
13 | Emory, Atlanta | Ga. | 6,890 | $50,032 | $23,074 | $31,530 | $23,181 |
14 | University of Richmond | Va. | 2,795 | $49,540 | $18,485 | $30,330 | $20,915 |
15 | Northwestern, Evanston | Ill. | 8,476 | $51,850 | $25,914 | $49,607 | $19,808 |
16 | University of Notre Dame | Ind. | 8,363 | $49,795 | $25,658 | $43,689 | $29,835 |
17 | Vanderbilt, Nashville | Tenn. | 6,637 | $52,520 | $22,104 | $34,276 | $19,839 |
18 | Cornell, Ithaca | N.Y. | 13,846 | $50,874 | $25,602 | $50,874 | $23,485 |
19 | University of Chicago | Ill. | 5,065 | $52,232 | $18,394 | $40,712 | $27,562 |
20 | Johns Hopkins, Baltimore | Md. | 4,744 | $52,890 | $25,538 | $28,101 | $21,984 |
21 | Washington Univ. in St. Louis | Mo. | 6,985 | $52,609 | $25,135 | $45,223 | N/A |
22 | Tufts, Medford | Mass. | 5,044 | $51,889 | $24,299 | $51,389 | $23,687 |
23 | Boston College, Chestnut Hill | Mass. | 9,060 | $52,308 | $26,761 | $34,412 | $19,358 |
24 | Brandeis, Waltham | Mass. | 3,196 | $50,739 | $26,712 | $28,291 | $20,095 |
25 | Wake Forest, Winston-Salem | N.C. | 4,476 | $49,932 | $25,557 | $37,148 | $24,827 |
* Total cost reflects tuition, mandatory fees, room and board, and estimated expenses for books. It does not include additional meals, transportation or personal expenses.
This article was reported by Jane Bennett Clark for Kiplinger's Personal Finance Magazine.
Published Nov. 23, 2009
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