The 10 Best College Bargains in America

By Brian Reed
August 30, 2011

Like almost everything in America, the cost of college tuition increases every year.

For 2011-12, the average cost for an in-state student attending a four-year, public university hit $30,420, almost double the amount from 20 years ago. 

For out-of-state public and private university tuitions, the numbers are even more shocking -- $47,960 and $109,172 respectively. 

With bursar bills soaring sky-high and millions of post-grads struggling with student loan debt, it's more important than ever that prospective students search for true value in higher education. 

 
Methodology:

We determined the overall tuition costs according to the latest rankings and research from US News and World Reports and Kiplinger.com. We then consider the starting and mid-career median pay from Payscale.com for each school.

The lowest tuition costs come from in-state tuition at a public college. The quality of education and overall value of the degree received is determined by the average salaries of recent graduates and mid-career earnings

The following schools each represent an excellent value for the money, making them 10 of the best college bargains in America. 

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10) New Mexico Institute of Mining & Technology -- Socorro, NM

10) New Mexico Institute of Mining & Technology -- Socorro, NM

Annual In-State Tuition: $4,942

Annual Out-of-State Tuition: $14,620

Starting Median Pay: $52,800 

Mid-Career Median Pay: $102,000 

If you're looking for a specialized school in mining technology and engineering, the inexpensive tuition and high mid-career pay make New Mexico Institute of Mining and Technology a real college bargain. 

Professor to student ratios are 11:1, and 63% of classes have fewer than 20 students, ensuring personalized contact with professors. Acceptance rates are high (79.33%), so getting into this value institution is an easier feat than almost any other school on the list. With a booming oil exploration and mineral market, jobs continue to look promising for these graduates.

Photo courtesy of Flickr.

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9) University of North Carolina at Chapel Hill -- Chapel Hill, NC

9) University of North Carolina at Chapel Hill -- Chapel Hill, NC

Annual In-State Tuition: $6,665

Annual Out-of-State Tuition: $25,280

Starting Median Pay:  $42,700 

Mid-Career Median Pay: $82,900 

North Carolina has ranked as Kiplinger's No.1 best value for colleges and universities for 10 straight years. Their in-state tuition is extremely reasonable, but getting in can be difficult. Their admission rates are some of the most competitive for public schools in the U.S. (31.63%). 

For students with financial needs, North Carolina consistently provides financial aid despite tightened budgets, which could make it an even better value for lower-income students.

Photo courtesy of Flickr.

8) State University of New York at Binghamton -- Binghamton, NY

8) State University of New York at Binghamton -- Binghamton, NY

Annual In-State Tuition: $6,815

Annual Out-of-State Tuition: $14,715 

Starting Median Pay: $49,700 

Mid-Career Median Pay: $86,000

With their $14,715 a year price tag, Kiplinger's ranked Binghamton as the best out-of-state value in 2010. In fact, students at Binghamton have actually said that their tuition is too low! So, this value might not last too long.

Binghamton is referred to as "Public Ivy" -- a public school that attracts first-rate students and professors and competes academically with Ivy League schools.

Photo courtesy of Flickr.

7) University of Florida -- Gainesville, FL

7) University of Florida -- Gainesville, FL

Annual In-State Tuition: $5,020

Annual Out-of-State Tuition: $27,300

Starting Median Pay: $45,200

Mid-Career Median Pay: $84,300

On top of their athletic prowess, Florida has received numerous honors as an exceptional value in higher education. Kiplinger's ranked Florida a 'Top 5 Best Values in Public Colleges' in 2006, 2007 and 2009, and USA Today named it the best value in public flagship universities in 2006. 

In addition to the value they provide in the classroom, Florida is also regularly voted as having some of the best career services to help students secure work after they leave. Even better, their students go on to earn a median pay of $84,300 by mid-career. 

Photo courtesy of Flickr.

6) Texas A&M University -- College Station, TX

6) Texas A&M University -- College Station, TX

Annual In-State Tuition: $8,387

Annual Out-of-State Tuition: $22,817

Starting Median Pay: $50,900 

Mid-Career Median Pay: $93,900

Sitting on one of the largest campuses in the U.S., Texas A&M is an exceptional bargain for in-state students. Freshmen retention rate, one of the best indicators of student satisfaction, is 92%. Aggies also enjoy success after entering the workforce. 

The Wall Street Journal ranks Texas A&M "2nd Most Likely to Steer Students Toward Key Careers and Professions" nationally. This is perhaps one of the reasons why alumni enjoy high pay fresh out of school ($50,900) and mid-career ($93,900). 

Photo courtesy of Flickr.

5) University of Colorado -- Boulder, CO

5) University of Colorado -- Boulder, CO

Annual In-State Tuition: $8,511

Annual Out-of-State Tuition: $28,193

Starting Median Pay: $46,200 

Mid-Career Median Pay: $91,600

As a member of the elite Association of American Universities -- a group of 34 highly ranked research universities -- The University of Colorado provides an excellent value for in-state students. Also considered a prestigious "Public Ivy League" school, Colorado attracts high-quality students and professors.

Their Career Services department deserves its acclaim for successfully helping students find work and with mid-career median pay topping $90,000 per year. Statistics also show that students can easily recoup the hefty tuition costs once they begin working.

Photo courtesy of www.colorado.edu.

4) Georgia Tech -- Atlanta, GA

4) Georgia Tech -- Atlanta, GA

Annual In-State Tuition: $8,716

Annual Out-of-State Tuition: $26,926

Starting Median Pay: $57,300 

Mid-Career Median Pay: $105,000

Year after year, Georgia Tech is one of the top-ranked universities in the world. Its specialty is engineering, with an undergraduate engineering program ranked 4th overall, but all of its schools rank in the top 10. 

Graduates leave the school and obtain a starting median pay of $57,300. The numbers balloon to $105,000 for mid-career graduates, one of the highest in the U.S. Considering the relatively low price of in-state tuition, Georgia Tech is an outstanding bargain for prospective students.

Photo courtesy of Flickr.

3) Virginia Tech University -- Blacksburg, VA

3) Virginia Tech University -- Blacksburg, VA

Annual In-State Tuition: $9,954

Annual Out-of-State Tuition: $26,404

Starting Median Pay: $52,400 

Mid-Career Median Pay: $94,700

A former military institute with specialties in science, engineering and business, Virginia Tech prepares students to earn generous, post-grad salaries. 

However, acceptance is increasingly competitive. In 2010, the average GPA of incoming freshmen was 4.00. The few that are accepted get the chance to take advantage of one of the best bargains in the country.

Photo courtesy of Flickr.

2) University of Virginia -- Charlottesville, VA

2) University of Virginia -- Charlottesville, VA

Annual In-State Tuition: $10,628

Annual Out-of-State Tuition: $33,574

Starting Median Pay: $50,500 

Mid-Career Median Pay: $93,900

Founded by Thomas Jefferson in 1819, the University of Virginia has consistently ranked as a "Top 5" in value among public colleges by Kiplinger's ever since they began rating higher education in 1998. 

UVA is also a highly selective school. More than 90% of this institution's students were in the top 10% of their high school class, and it boasts more Rhodes Scholars than any other state university in the United States. What's more, alumni reap financial success after they leave with mid-career median earnings just under $100,000 per year.

Photo courtesy of Flickr.

1) University of California, Berkeley -- Berkeley, CA

1) University of California, Berkeley -- Berkeley, CA

Annual In-State Tuition: $10,868

Annual Out-of-State Tuition: $33,747

Starting Median Pay: $53,100 

Mid-Career Median Pay: $109,000

University of California, Berkeley is highly selective (21.6% acceptance rate), but it's also the best bargain on our list, especially if you're a resident of California.

UC Berkeley is consistently one of the best-ranked universities, and the US News and World Report declared Berkeley the top public university in the world.

If the pay that graduates receive is any indication, the acclaim is deserved. Mid-career median pay is 10 times higher than the cost of a single year of tuition, making Berkeley's high tuition well worth it.

Photo courtesy of Flickr.

 
 
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