As if it weren’t already hard enough to get into an Ivy League school, the slumping economy is making the competition even greater this year. Respectable colleges, specifically those that focus on liberal arts, are hurting for applicants as many college-bound high school seniors target the bigger names in private academia instead. This is great news for students who have always longed to go to humanities enclaves like Swarthmore as well as those who open their minds to less popular but highly rated schools closer to home. I’d love for my children to enjoy the dinner table-size classes that I hear about outside the state schools, but how do you find those hidden gems?
U.S. News and World Report has been the authority in ranking American universities since before I went to college. Itsannual list is what determines the application strategies of countless prospective students as well as the bragging rights of graduates who moved on even decades ago. The magazine rates schools on the following criteria:
- Peer assessment (25 percent of rating). The ranking team polls provosts, deans of admissions, and presidents to determine how they rate their own schools, including academic programs and faculty enthusiasm for their work.
- Retention (20 percent of rating). Unlike peer assessment, this number is based on quantitative evidence. The magazine breaks this gauge down into two sections. The first, the rate of students who graduate from the school in six years, accounts for 80 percent of the score. The other 20 percent of the score is based on the number of freshman who return after their first year.
- Faculty resources (20 percent of rating). This measurement accounts for a number of components. U.S. Newsgives points for small classes (those with fewer than twenty students). It also credits the colleges for paying their faculty well, employing that faculty full time, and hiring professors with the highest degree in their fields.
- Student selectivity (15 percent of rating). Of course, a school is also rated on the caliber of its student body. For this reason, the magazine factors in the students’ scores on the SATs and ACT as well as their high school rankings. It also looks at the number of high school seniors who applied to the school and the rate of acceptance of those seniors.
- Financial resources (10 percent of rating). This component of the universities’ rankings regards the amount of money the school spends on each student’s education (e.g., instruction, research, etc.). It does not account for the money the college allots to dorms, sports, or healthcare.
- Graduation rate performance (5 percent of rating). This is a measure of the school’s progress in terms of retention. The magazine garners points for graduating more students than previous retention rates indicated the university would.
- Alumni giving rate (5 percent of rating). A theoretical indication of satisfaction, a large percentage of former students who donate to their alma mater can boost the school’s score.
U.S. News is a trusty source for rankings, but it overlooks eight hundred of the 2,200 four-year schools in the nation. Also, the dominant ranking system does not account for student evaluations of their professors or the salaries graduates make. For rankings that take these things into account, you should look at the Forbes/Center for College Affordability and Productivity (CCAP) list of best universities. It rates every four-year university, categorizing them by region, and highlighting some great values. The rankings are determined by the following criteria:
- Student evaluations (25 percent of rating). I love the idea behind this component of the Forbes/CCAP list, because who could be better at rating the quality of education at universities than the students who attend them?
- Debt load (20 percent of rating). The Forbes/CCAP list considers the cost of attending the school, an invaluable gauge for the practicality-minded, based on typical students’ debts after four years at the college.
- Graduation rates (16 2/3 percent of rating). Unlike U.S. News, Forbes expects students to graduate in four years.
- Who’s Who in America (12.5 percent of rating). The yearbook-style directory of high school achievers provides a strong basis for determining the caliber of students attending each university.
- Alumni salaries (12.5 percent of rating). Perhaps the best indicator of return on investment (ROI), the Forbes list looks at how well students do in terms of financial payoff after college.
- National awards (8 1/3 percent of rating). Schools receive credit for students who win prestigious national honors.
- Faculty awards (5 percent of rating). So too with the professors.
In perusing the Forbes/CCAP list, I saw a few overlaps with the U.S. News list, but the former shines in recognizing the smaller, worthwhile schools that may be closer to home. I know that it’s opened my eyes to attractive non-state schools that provide top-tier learning environments—without the hefty price tags of the big names. I’ve amended my son’s college road trip list to include those stops.