10 Michigan Colleges Offer Best Value For Money: Report

MICHIGAN — The University of Michigan-Ann Arbor was ranked as the top college in the nation for affordability and high quality, according to a report from Money’s new "Best Colleges in America, Ranked By Value."

The University of Michigan offers one of the highest graduation rates in the country at 93 percent with graduates' salaries well above the national average. Furthermore, is less than that of 600-some colleges in Money's rankings, the group said.

Quality of education, outcomes and affordability, including the availability of grants and other financial aid all factored in to Money's rankings, the group said. However, the list of colleges only includes financially sound schools with enrollments of 500 or more students and graduation rates at or above the mean for the category of institution.

Overall, the report listed 671 schools, including several in Michigan.

For students who want to stay in Michigan to go to college, the following colleges offer the most value, according to the ranking:

University of Michigan-Ann Arbor

• Overall score: 89.41 percent
• Acceptance rate: 26 percent
• Estimated full price, 2022-23: $32,400
• Estimated price with average grant: $18,800
• Percent of students who get grants: 53 percent

Michigan Technological University

• Overall score: 75.64 percent
• Acceptance rate: 70 percent
• Estimated full price, 2022-23: $32,200
• Estimated price with average grant: $18,300
• Percent of students who get grants: 94 percent

Michigan State University

• Overall score: 75.15 percent
• Acceptance rate: 76 percent
• Estimated full price, 2022-23: $30,000
• Estimated price with average grant: $17,600
• Percent of students who get grants: 60 percent

Kalamazoo College

• Overall score: 70.15 percent
• Acceptance rate: 74 percent
• Estimated full price, 2022-23: $68,100
• Estimated price with average grant: $29,100
• Percent of students who get grants: 99 percent

Grand Valley State University

• Overall score: 67.84 percent
• Acceptance rate: 88 percent
• Estimated full price, 2022-23: $26,500
• Estimated price with average grant: $17,800
• Percent of students who get grants: 73 percent

Hope College

• Overall score: 67.79 percent
• Acceptance rate: 78 percent
• Estimated full price, 2022-23: $51,800
• Estimated price with average grant: $32,000
• Percent of students who get grants: 93 percent

University of Michigan-Dearborn

• Overall score: 67.06 percent
• Acceptance rate: 68 percent
• Estimated full price, 2022-23: $28,000
• Estimated price with average grant: $13,300
• Percent of students who get grants: 72 percent

University of Detroit Mercy

• Overall score: 65.84 percent
• Acceptance rate: 79 percent
• Estimated full price, 2022-23: $44,900
• Estimated price with average grant: $19,400
• Percent of students who get grants: 88 percent

Lake Superior State University

• Overall score: 65.50 percent
• Acceptance rate: 69 percent
• Estimated full price, 2022-23: $27,000
• Estimated price with average grant: $14,300
• Percent of students who get grants: 75 percent

Calvin University

• Overall score: 65.84 percent
• Acceptance rate: 73 percent
• Estimated full price, 2022-23: $54,100
• Estimated price with average grant: $28,000
• Percent of students who get grants: 94 percent

Money also has a tool that students and parents can use to further narrow down their search and build a customized list that uses its high-value college rankings to create a grouping that best matches a student’s interests. The list can be re-ranked, based on the importance of financial aid and post-graduate earnings, Money said.

Nationally, the Top 10 schools based on value are:

1. University of Michigan, Ann Arbor
2. University of North Carolina at Chapel Hill
3. University of Virginia, Charlottesville
4. Massachusetts Maritime Academy, Buzzards Bay
5. Virginia Military Institute, Lexington
6. Georgia Institute of Technology, Atlanta
7. University of Illinois at Urbana-Champaign
8. University of Florida, Gainesville
9. University of California, Irvine
10. University of California, Davis