<p>I think this list is very useful. I especially like it for students who want to go away to school and are not eligible for financial aid (parents make too much money), are not eligible for a lot of merit aid, but whose parents will not be contributing toward their college expenses. It lets you see that there are some reasonable schools out there that are not too expensive, that would not lead to huge loans. You can click on the column headed "total out of state costs" without financial aid and the high quality, inexpensive schools bubble to the top. Here's how these schools were chosen.
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We start with nationwide data from more than 500 public four-year colleges and universities, which are provided to Peterson's/Nelnet. We supplement Peterson's data with our own reporting.</p>
<p>We narrow the list to about 120 schools based on several measures of academic quality, including:</p>
<pre><code>* Percentage of the 2008-09 freshman class scoring 600 or higher on the verbal and math components of the SAT (or scoring 24 or higher on the ACT)
* Admission rates
* Freshman retention rates
* Student-faculty ratios
* Four- and six-year graduation rates, which most schools reported for the student cohort entering in 2002
</code></pre>
<p>We then rank each school based on cost and financial aid.. We look at:</p>
<pre><code>* Total cost for in-state students (tuition, mandatory fees, room and board, and estimated expenses for books)
* Average cost for a student with need after subtracting grants (but not loans)
* Average cost for a student without need after subtracting non-need-based grants
* Average percentage of need met by aid (need-based assistance)
* Average debt a student accumulates before graduation
</code></pre>
<p>To determine out-of-state rankings, we run the academic-quality and cost numbers again, this time using total costs for out-of-state residents and average costs after aid.</p>
<p>In our scoring system, academic quality carries more weight than costs (almost two-thirds of the total). To braek ties, we use academic-quality scores and average debt at graduation.
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<p>I also think that in today's economy, the Kiplinger list is a valuable tool for finding an out-of-state financial safety especially if you don't have one in-state - Some kids really want to go "away" to college. Look at Louisiana Tech, with a total cost of attendance under $15K per year. For Liberal Arts, check the University of Minnesota at Morris. Would you have thought of University of Wisconsin Eau Claire or University of Wisconsin LaCrosse without seeing them on this list? They are both great schools, each with a total cost of attendance less than $20K per year.</p>