23 MI Schools Among Money’s Best Colleges In America 2023

MICHIGAN — Twenty-three institutions in Michigan were recently named to Money Magazine’s Best Colleges In America list, an analysis that looks at graduation rates, tuition, financial aid and alumni salaries.

Rather than ranking the colleges, Money said it used a six-star rating system to develop the list of 736 colleges “where your tuition (and time) is likely to pay off.”

“While the underlying methodology is similar to previous years, the new rating system can help families with their college search by highlighting the variety (and diversity) of high-value colleges in the U.S.,” Money said, “We hope the ratings show that, depending on your individual characteristics, priorities and goals, there may be multiple top colleges to consider.”

In Michigan, colleges selected for the list include:

Albion College, Albion
Acceptance rate: 69 percent
2023-24 estimated full price: $70,200
Estimated price with average grant: $21,200
Graduation rate: 70 percent

Alma College, Alma
Acceptance rate: 69 percent
2023-24 estimated full price: $62,000
Estimated price with average grant: $26,100
Graduation rate: 66 percent

Calvin College, Grand Rapids
Acceptance rate: 75 percent
2023-24 estimated full price: $55,400
Estimated price with average grant: $29,100
Graduation rate: 75 percent

Central Michigan, Mount Pleasant
Acceptance rate: 77 percent
2023-24 estimated full price: $27,600
Estimated price with average grant: $18,100
Graduation rate: 63 percent

College for Creative Studies, Detroit
Acceptance rate: 54 percent
2023-24 estimated full price: $63,800
Estimated price with average grant: $36,700
Graduation rate: 68 percent

Cornerstone University, Grand Rapids
Acceptance rate: 91 percent
2023-24 estimated full price: $43,000
Estimated price with average grant: $22,300
Graduation rate: 67 percent

Grand Valley State University, Allendale
Acceptance rate: 92 percent
2023-24 estimated full price: $27,500
Estimated price with average grant: $18,200
Graduation rate: 66 percent

Hope College, Holland
Acceptance rate: 92 percent
2023-24 estimated full price: $53,300
Estimated price with average grant: $30,800
Graduation rate: 81 percent

Kalamazoo College, Kalamazoo
Acceptance rate: 80 percent
2023-24 estimated full price: $72,100
Estimated price with average grant: $29,400
Graduation rate: 86 percent

Kettering University, Flint
Acceptance rate: 86 percent
2023-24 estimated full price: $60,900
Estimated price with average grant: $37,300
Graduation rate: 65 percent

Lake Superior State University, Sault Ste. Marie
Acceptance rate: 73 percent
2023-24 estimated full price: $29,000
Estimated price with average grant: $14,600
Graduation rate: 66 percent

Madonna University, Livonia
Acceptance rate: 52 percent
2023-24 estimated full price: $42,800
Estimated price with average grant: $19,800
Graduation rate: 66 percent

Michigan State University, East Lansing
Acceptance rate: 83 percent
2023-24 estimated full price: $31,200
Estimated price with average grant: $9,400
Graduation rate: 80 percent

Michigan Technological University, Houghton
Acceptance rate: 86 percent
2023-24 estimated full price: $33,800
Estimated price with average grant: $19,100
Graduation rate: 70 percent

Northwood University, Midland
Acceptance rate: 83 percent
2023-24 estimated full price: $48,300
Estimated price with average grant: $24,700
Graduation rate: 64 percent

Oakland University, Rochester Hills
Acceptance rate: 92 percent
2023-24 estimated full price: $29,900
Estimated price with average grant: $15,300
Graduation rate: 59 percent

Rochester University, Rochester Hills
Acceptance rate: 98 percent
2023-24 estimated full price: $39,100
Estimated price with average grant: $20,100
Graduation rate: 62 percent

Siena Heights University, Adrian
Acceptance rate: 68 percent
2023-24 estimated full price: $45,100
Estimated price with average grant: $20,300
Graduation rate: 62 percent

Spring Arbor University, Spring Arbor
Acceptance rate: 60 percent
2023-24 estimated full price: $46,200
Estimated price with average grant: $23,000
Graduation rate: 64 percent

University of Detroit Mercy, Detroit
Acceptance rate: 93 percent
2023-24 estimated full price: $46,400
Estimated price with average grant: $19,200
Graduation rate: 70 percent

University of Michigan, Ann Arbor
Acceptance rate: 20 percent
2023-24 estimated full price: $33,800
Estimated price with average grant: $20,600
Graduation rate: 93 percent

University of Michigan-Dearborn, Dearborn
Acceptance rate: 69 percent
2023-24 estimated full price: $28,900
Estimated price with average grant: $12,700
Graduation rate: 60 percent

Western Michigan University, Kalamazoo
Acceptance rate: 83 percent
2023-24 estimated full price: $29,300
Estimated price with average grant: $21,200
Graduation rate: 59 percent

In many cases, Money said, the cost of college is a primary reason students choose not to attend college or struggle to graduate once they do. Overall, freshmen starting at a four-year college this fall will pay an average of $20,000 a year at public universities and $30,000 at private colleges if they receive financial aid.

Money started with more than 2,400 four-year public and private nonprofit colleges with at least 500 undergraduate students. To be considered, schools also had to meet graduation rate standards and meet other criteria.

Considering 26 data points, the schools were ranked in three categories:

• Quality of education (30 percent weighting);
• Affordability (40 percent weighting)
• Outcomes, including alumni earnings (30 percent weighting)

The full methodology is found on Money’s website.