Money magazine has named La Salle University a “Value All-Star,” ranking it the eighth best college nationwide for adding the most value for a college education in its recent college rankings.
The magazine also ranked the University in the top quarter of all American colleges for educational quality, affordability, and alumni earnings.
“We are very pleased that Money magazine has recognized La Salle’s long-held value of providing personal attention and mentoring to our students,” said Joseph Marbach, Ph.D., Provost of La Salle University. “This student-centered focus results in their success at the University and throughout their lives.”
In the category of 25 schools that are “Value All-Stars,” the magazine factored in the percentage of students who complete college and the average alumni salary. This category was to “determine which schools actually add the most value, taking into account the economic and academic profiles of the incoming students and, in the case of earnings, the mix of majors at each school,” according to the magazine.
Factors considered in the value ranking included the percentage of students who complete college and how much alumni typically earn. These colleges also “turn out graduates who exceed the averages for their peer groups by the widest margin,” the magazine reported on its Web site.
The magazine reported that colleges whose graduates earned more than would be predicted, given their student body, appear to be creating more opportunity and thus are ranked higher.
In the subcategory of “earnings outperformance,” La Salle graduates earned an average of $10,270 more than predicted than those at peer colleges. The University’s graduation rate was 18 percent higher than predicted than at peer colleges.
The magazine stated that the graduation rate outperformance represents the percentage by which the school’s graduation rate exceeds the average for schools with student bodies from similar socioeconomic and academic backgrounds; the earnings outperformance represents how much more the average graduate earns than would be predicted (measured by the percentage of Pell Grant recipients and average standardized test scores and, for earnings, the mix of majors at the school).Also considered were student-loan default rates.
To see the rankings, visit: http://time.com/money/3025341/colleges-that-add-the-most-value-moneys-best-colleges/
For overall rankings of colleges that offer “the most bang for the (tuition) buck,” Money screened out those with a below-average graduation rate and then ranked 665 colleges on 17 factors in three categories: educational quality, affordability, and alumni earnings. La Salle was tied with two others for 166th, placing it in the top quarter of American colleges.
To see the full ranking of schools, visit: http://ti.me/UFuLeL
On Money’s Web site, it stated the survey “wanted to find colleges that did what education is supposed to do—help hardworking students from any background break into a good career. So (the magazine) calculated the impact of test scores and of coming from a low-income family on graduates’ earnings.” Then, using federal data on the test scores and economic background of each school’s student body, the magazine calculated what the expected earnings would be for each school.
In a press release, Money stated it would take “a new approach to ranking colleges that uses unique measures of educational quality, affordability, and career outcomes to help families find the right school at the right price.”
The press release went on to state that “among the rankings’ distinctive analyses: The list provides a more realistic way to price colleges, taking into account the complete cost of a degree rather than a single year. It is also the only ranking to evaluate which schools add the most value given the academic and economic background of the students who attend, and to level the playing field on majors, to show whether graduates of a particular college earn more (or less) than average, whether they got degrees in engineering or English.”
The result, said Money senior writer Kim Clark, who created the rankings, “is a list of colleges—some famous, some surprising—that, according to the best data available, provide real value. College is expensive, but the highly rated colleges on our list are the most likely to do a great job of educating your student and helping to launch him or her into a well-paying job.”
To develop the new rankings, Money partnered with Mark Schneider, former commissioner of the Department of Education’s National Center for Education Statistics, and his company College Measures, which collects and analyzes data to drive improvements in higher ed. Major contributions also came from Payscale.com, which provided the earnings data. One of the most important findings to come out of the rankings, Schneider notes, is that you don’t have to pay a lot to get a high quality education that really helps in the job market. “The published price of a college doesn’t tell you very much about what you’ll actually pay or of students’ later life success,” he says. “There is zero correlation with most of our measures.”
La Salle University was established in 1863 through the legacy of St. John Baptist de La Salle and the Christian Brothers teaching order, which St. La Salle founded in 1680. La Salle is an educational community shaped by traditional Catholic and Lasallian values.