Graduates from this Kentucky college are among the lowest in debt nationally
Berea College graduates leave school with the least amount of debt when compared to liberal arts schools across the country, according to the latest national college rankings released Monday.
Berea students, on average, graduate with $5,600 in federal loan debt, according to the 2018 data used for U.S. News & World Report’s latest college rankings. The next closest nationally accredited liberal arts school was California’s Pomona College with graduates leaving on average with more than $10,000 in debt.
The Madison County college boasts a “No-Tuition Promise” with the college paying the remainder of tuition for its students after federal and private grants. As a work-college, students are paid to work at least 10 hours per week in roles that support the university.
“We are pleased to receive recognition for providing a very high quality college education without expecting our graduates to take on the burden of substantial debt,” said Berea President Lyle Roelofs in a statement. “In order to serve talented students who might not otherwise be able to afford to attend college, we do not charge tuition and arrange for each student to work for the college, thus providing earnings that can be used to offset other expenses. We believe this is the correct approach for providing what we like to call, ‘the best education money can’t buy!’”
In the overall rankings of liberal arts colleges based on 17 measures, Berea placed 33rd — climbing 13 spots from last year’s rankings. Centre College wasn’t far behind at 52. Transylvania University came next among Kentucky liberal arts schools at 84 out of 223.
According to Berea College’s financial aid information, students pay nothing for tuition, but they pay just over $10,700 in fees, housing, books and other supplies. Before financial aid, a Centre student pays $58,750 for tuition, housing and other supplies. At Transylvania, students pay $56,620.
2 KY schools provide best value among southern regional colleges
Two Kentucky schools were in the top five for best value among southern regional colleges. Kentucky State University in Frankfort was ranked first while Alice Lloyd College in Knott County ranked fourth among 25 small southern schools for having high academic quality relative to the price of tuition.
According to the report, KSU’s average cost came in just under $25,000. As a work college, Alice Lloyd also has a no-tuition guarantee for students. Dorm-living students pay just under $10,000 per semester.
Among nationally accredited universities, Kentucky schools did not move much compared to last year. The University of Kentucky tied for 133rd out of 389; the University of Louisville was ranked at 176 and Bellarmine University, the next closest, came in at 206.
The report ranks more than 1,400 colleges and universities on such factors as graduation and retention rates; faculty compensation and education levels; class sizes; how schools select students; the schools’ financial resources and more. According to a press release, the report uses data that predates the COVID-19 pandemic.
“The pandemic has affected students across the country, canceling commencement ceremonies and switching classes from in person to remote,” said Kim Castro, editor and chief content officer of U.S. News. “Whether students have slightly altered their college plans or changed them entirely, it remains our mission to continue providing students and their families with the tools they need to help find the right school for them.”
This story was originally published September 14, 2020 at 7:53 AM.