(Photo by Dan Addison, University Communications)
The University of Virginia is the third-best college in the nation, based on the value of its education, according to new rankings announced Monday by Money magazine.
UVA jumped from No. 6 in 2020 and No. 10 in 2019 on Money’s “Best Colleges” list. This year, the University of Michigan was ranked the top value overall, with the University of North Carolina at Chapel Hill second. The list compares and ranks public and private institutions with an acceptance rate of 20% or higher.
#3
Best Value School
Money’s rankings follow The Princeton Review’s April announcement of its 2022 list of Best Value Colleges, which ranked UVA the No. 1 public college or university in the country for financial aid and the No. 3 best value public school overall. More on UVA’s placement on The Princeton Review’s charts was detailed in UVA Today.
Money magazine ranks colleges on 24 criteria based on quality (including graduation and transfer rates), affordability (both short- and long-term) and outcomes (the earnings and employment rates of graduates). More details on Money’s ranking process can be found on its website.
Graduation rates, for example, must be 50% or better for the college’s respective institutional category in order to be considered. UVA has long maintained one of the nation’s highest six-year graduation rates, and Money’s data show the University with the highest graduation rate of any public university, with a six-year rate of 94%.
For its 2022 “Best Colleges” edition, Money found that 671 schools across the country met the minimum requirement for ranking.
UVA has a long-standing commitment to generous student support. The University’s financial aid program, Access UVA, meets 100% of undergraduates’ demonstrated financial need through a combination of grants, scholarships, jobs and need-based loans. It caps need-based loans at a maximum of $4,500 per year for in-state students and $7,000 annually for out-of-state students. Need-based loans are capped at $1,000 per year for in-state students with high financial need.
UVA covers full tuition, fees, and room and board for in-state students whose families earn less than $30,000 a year and have typical assets. The University fully covers tuition and fees for students from Virginia families who earn less than $80,000 per year and have typical assets.
November 20, 2024
