UConn is among the best universities in the country when it comes to value for money, according to new ratings by Money Magazine.
Rating 745 four-year institutions on metrics that weigh affordability, quality of education, and outcomes, Money awarded 4.5 of 5 stars to UConn, earning the University a designation as one of America’s best colleges, in line with schools like the University of North Carolina, Michigan State University, the University of Virginia, and the University of Wisconsin.
“This is welcome recognition of the outstanding value UConn provides for our students and their families,” says UConn President Radenka Maric. “Putting students first is the heart of our mission as a University, and making sure a world-class education is affordable is a major part of that.”
Money’s analysis does not rank universities in comparison with each other, but offers individual ratings for each of the 745 schools considered.
“In a numbered ranking, very small differences in colleges’ scores result in different ranks, exaggerating the difference in performance,” wrote Money’s Kaitlin Mulhere. “As experts have long advised, it’s more important to look broadly at where a college lands on a list and not its precise rank.”
Money’s formula weights affordability at 40% of a university’s rating, followed by quality of education and outcomes at 30% each. Among the 25 individual factors taken into account are measures like the graduation rate, the net price of a degree, and the weighted averages of graduates’ incomes over a 10-year span.
Affordability is a key value for UConn, as demonstrated in the budget adopted last month by the University Board of Trustees.
The total amount allocated in the new budget for students’ financial aid will increase from $283.1 million in FY24 to $306.6 million in the coming fiscal year. Of that, the institutionally funded amount that comes as a portion of tuition revenue will increase from $181.2 million to $198.4 million.
The rest comes from federal sources such as the Pell Grant, state programs, scholarships funded by specific departments, and scholarships from private sources such as donor endowments.
In fact, almost three-quarters of UConn’s students receive financial aid in the form of grants and scholarships that they don’t need to repay.
The median earnings of UConn graduates who received federal financial aid, measured 10 years after enrolling, are $73,997 – significantly higher than the national 4-year institution median of $53,617.
The rating by Money follows UConn’s ranking by the Wall Street Journal as one of the 50 best universities, public or private, in the entire country as measured by factors like affordability, the average time it takes students to earn a degree, and the value a degree adds to graduates’ salaries.
