Baruch College ranked No. 3 among the list of 349 U.S. colleges in Washington Month's (WM) "Best Bang for the Buck". Washington Monthly launched the new ranking this year based on the economic value students receive per dollar.
The list features the colleges in America that "do the best job of helping non-wealthy students attain marketable degrees at affordable prices." WM looked at 1,572 colleges and universities, but only 349 made the list as "best-bang -for-the-buck" schools because they met four criteria:
1). At least 20 percent of the student population must be receiving Pell Grants, which are awarded to students whose annual household income is below $50,000.
2). Colleges must have a graduation rate of at least 50 percent, also considering that one-fifth of the student body come from lower income families, a demographic that tends to graduate in lower numbers.
3). Each school's actual graduation rate must meet or exceed the rate that would be statistically predicted for that school given the number of lower-income students admitted (among other things, this calculation assures that schools with more than the minimum 20 percent of students who receive Pell Grants are not penalized).
4). Schools must have a student loan default rate of 10 percent or less.
Baruch College was ranked No. 3 with 51% of students receiving Pell Grants; a 63% graduation rate; a 3% default rate on student loans and a Net Price of $3,429. The net price is the average tuition that first-time, full-time students from families with an annual income of $75,000 or less actually pay after subtracting the need-based financial aid they receive.
Visit WashingtonMonthly.com to learn more about the methodology and the "Best Bang for the Buck" ranking.
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