U-M is among the 100 “Best Value Colleges for 2009” and one of only two Michigan colleges or universities to make the list, according to a Princeton Review/USA Today study.
The publications said U-M “offers a great balance of two very different college worlds — the huge state school with top tier athletics and vibrant social scene, paired with a strong, competitive academic environment with literally thousands of research opportunities. The 15-to-1 student-faculty ratio is another draw.”
The study notes that while average in-state tuition at U-M is $11,550, the average need-based grant is $5,498 with an average need-based loan of $5,839 leaving recent graduates with an average student loan indebtedness of $23,754, about the cost of a new car.
Financial aid generally is awarded to students from a combination of grants, scholarships, loans and Work-Study employment, the publications state, with 90 percent of the students’ financial need being met.
The “Best Value” colleges list features 50 public and 50 private colleges and universities.
The Princeton Review selected its choices based on surveys of administrators and students at more than 650 public and private colleges and universities. The selection criteria covered more than 30 factors in three areas: academics, costs of attendance and financial aid, using the most recently reported data from each institution for its 2007-08 academic year.
“We have always believed finding the ‘best fit’ college should be the foremost goal for student applicants and their families. But the economic crisis and financial downturn have presented sobering challenges both to families struggling to afford college and to higher education institutions struggling to maintain their programs in the face of budget and funding shortfalls,” says Robert Franek, Princeton Review vice president and publisher.
The only other Michigan college or university on the list is Hillsdale College, a private college that the study found had tuition “substantially less than the national average for private colleges.”
The Princeton Review, an education services program known for its test prep programs, previously reported annual “best value” public and private colleges lists on its Web site and in its book, “America’s Best Value Colleges,” which was published from 2004-07 but now partners with USA Today, the nation’s top-selling newspaper.
