Here are the data for Massachusetts, according to the U.S. Department of Education:
UMass-Amherst: average debt $24,300; 60% receive federal loans.
Williams: average debt $13,212; 26% receive federal loans
Amherst: average debt $11,706; 16% receive federal loans
Wellesley: average debt $9,000; 32% receive federal loans
Smith: average debt $19,000; 52% receive federal loans
Why so much less debt at the LACs? They meet full need; UMass-Amherst doesn’t. So the lower sticker price at the flagship doesn’t translate into lower actual costs, except for those at higher income scales.
You can also compare median salaries 10 years out:
UMass-Amherst $49,300
Williams $54,200
Amherst $56,300
Wellesley $56,500
Smith $44,400
These data would suggest the LACs are a better value proposition. Granted, these are pretty elite LACs; many others can’t afford to meet full need, and UMass isn’t among the strongest state flagships. But a similar relationship holds in many states, e.g., Penn State average debt $27,000; Swarthmore $18,100, Haverford $14,000. I think a lot of people are scared off from the top LACs by the sticker price, without bothering to do actual net cost comparisons