|
|
Money magazine has named Neumann University as one of the 25 most affordable private colleges in America. According to the magazine’s website, “Among the highest-ranked 665 private colleges on our Best Colleges list, earning a degree at these schools typically costs the least.”
Neumann was ranked #12 in the Most Affordable list.
To calculate affordability, the magazine researched and weighted four factors:
|
Net price of a degree (40%), or the estimated amount a typical freshman starting in 2014 will pay to earn a degree taking into account the college’s sticker price; the school’s average need, merit, and athletic financial aid; tuition inflation; and the average time it takes students to graduate from the school |
|
|
Debt (40%), taking into account both student debt upon graduation (20%) and parent federal PLUS loans (20%) |
|
|
Student loan default risk (10%), a calculation of the odds that a student at the college will end up being unable to pay back a federal student loan |
|
|
Value-added student loan default risk (10%), adjusted for the economic and academic profile of the student body |
Among the magazine’s sources for data were the Integrated Postsecondary Education Data System (IPEDS), Peterson’s, and Payscale.com. Approximately 98% of Neumann full-time undergraduate students receive some form of financial aid. In 2013, Neumann students received $52 million in financial aid from the university, federal and state grants, and other sources.
The list of 25 most affordable private colleges includes:
|
1. Berea College, Kentucky 2. Principia College, Illinois 3.College of the Ozarks, Missouri 4. Webb Institute, New York 5. Brigham Young University, Utah 6. Mississippi College, Mississippi 7. Grove City College, Pennsylvania 8. Rockhurst University, Missouri 9. Presbyterian College, South Carolina 10. Doane College-Crete, Nebraska 11. Westminster College, Missouri 12. Neumann University, Pennsylvania 13. Saint Vincent College, Pennsylvania 14. Monmouth College, Illinois 15. Earlham College, Indiana 16. William Jewell College, Missouri 17. Cedarville University, Ohio 18. Centre College, Kentucky 19. College of Our Lady of the Elms, Massachusetts 20. Saint Norbert College, Wisconsin 21. Wabash College, Indiana 22. Augustana College, Illinois 23. Grinnell College, Iowa 24. Lake Forest College, Illinois 25. Messiah College, Pennsylvania
|
For more information on financial aid at Neumann University, visit www.neumann.edu/financialaid or email finaid@neumann.edu.