Student loan debt, the second largest consumer debt category in the United States after home mortgages, reached an all time high of $1.6 trillion in 2020, roughly equivalent to the GDP of South Korea.
In the 1990-91 academic year, the average published annual cost of tuition and fees at a four-year institution was $18,560 at private schools and $3,800 at public schools. In the 2020-21 school year, those published costs rose to $37,650 and $10,560, or 103% and 178% increases, respectively.
While the growing student debt crisis is contributing to annual declines in college enrollment — as do the effects of the pandemic — a four-year college education does not have to mean a lifetime of paying off student loans. Across the country, there are schools with relatively low tuition costs, where graduates typically go on to secure well-paying jobs upon graduation.
Using data from the U.S. Department of Education, 24/7 Wall St. reviewed a range of data at over 6,800 colleges and universities, including tuition costs, graduate employment rates, student debt repayment, and median salary after enrollment, to identify the most affordable colleges with the best outcomes in every state.
Public schools tend to have lower tuition and are therefore more affordable to a broader range of prospective students than private schools, and not surprisingly, the majority of institutions on this list are public. Additionally, most of the schools on this list are not especially selective. Of the 50 schools on this list, only a handful admit fewer than half of all applicants. Here is a look at the hardest colleges to get into.
Click here to see the most affordable colleges with best outcomes in every state.
Click here to see our detailed methodology.
Alabama: Auburn University
> City: Auburn
> Admission rate: 80.7%
> Undergraduate enrollment: 24,147
> Avg. annual cost of attendance: $31,282
> Employment rate 6 yrs. after enrollment: 94.5%
> Typical earnings 6 yrs. after enrollment: $39,500
[in-text-ad]
Alaska: University of Alaska Anchorage
> City: Anchorage
> Admission rate: 83.0%
> Undergraduate enrollment: 10,482
> Avg. annual cost of attendance: $19,942
> Employment rate 6 yrs. after enrollment: 85.2%
> Typical earnings 6 yrs. after enrollment: $36,000
[recirclink id=825111]
Arizona: University of Arizona
> City: Tucson
> Admission rate: 84.6%
> Undergraduate enrollment: 33,509
> Avg. annual cost of attendance: $26,712
> Employment rate 6 yrs. after enrollment: 91.6%
> Typical earnings 6 yrs. after enrollment: $36,900
Arkansas: University of Arkansas
> City: Fayetteville
> Admission rate: 77.1%
> Undergraduate enrollment: 23,121
> Avg. annual cost of attendance: $22,750
> Employment rate 6 yrs. after enrollment: 91.9%
> Typical earnings 6 yrs. after enrollment: $37,100
[in-text-ad-2]
California: California Polytechnic State University-San Luis Obispo
> City: San Luis Obispo
> Admission rate: 28.4%
> Undergraduate enrollment: 21,047
> Avg. annual cost of attendance: $27,073
> Employment rate 6 yrs. after enrollment: 94.6%
> Typical earnings 6 yrs. after enrollment: $52,100
Colorado: Colorado School of Mines
> City: Golden
> Admission rate: 53.1%
> Undergraduate enrollment: 4,906
> Avg. annual cost of attendance: $33,038
> Employment rate 6 yrs. after enrollment: 94.5%
> Typical earnings 6 yrs. after enrollment: $69,200
[in-text-ad]
Connecticut: University of Connecticut-Stamford
> City: Stamford
> Admission rate: 91.3%
> Undergraduate enrollment: 1,858
> Avg. annual cost of attendance: $21,620
> Employment rate 6 yrs. after enrollment: 94.6%
> Typical earnings 6 yrs. after enrollment: $46,400
[recirclink id=825465]
Delaware: University of Delaware
> City: Newark
> Admission rate: 71.4%
> Undergraduate enrollment: 19,060
> Avg. annual cost of attendance: $25,584
> Employment rate 6 yrs. after enrollment: 96.2%
> Typical earnings 6 yrs. after enrollment: $46,700
Florida: Embry-Riddle Aeronautical University-Worldwide
> City: Daytona Beach
> Admission rate: 62.0%
> Undergraduate enrollment: 10,254
> Avg. annual cost of attendance: $22,944
> Employment rate 6 yrs. after enrollment: 93.9%
> Typical earnings 6 yrs. after enrollment: $47,900
[in-text-ad-2]
Georgia: Georgia Institute of Technology-Main Campus
> City: Atlanta
> Admission rate: 20.6%
> Undergraduate enrollment: 15,201
> Avg. annual cost of attendance: $28,501
> Employment rate 6 yrs. after enrollment: 95.0%
> Typical earnings 6 yrs. after enrollment: $65,500
Hawaii: University of Hawaii at Manoa
> City: Honolulu
> Admission rate: 58.5%
> Undergraduate enrollment: 12,609
> Avg. annual cost of attendance: $23,948
> Employment rate 6 yrs. after enrollment: 89.6%
> Typical earnings 6 yrs. after enrollment: $35,700
[in-text-ad]
Idaho: Lewis-Clark State College
> City: Lewiston
> Admission rate: 99.8%
> Undergraduate enrollment: 2,787
> Avg. annual cost of attendance: $15,993
> Employment rate 6 yrs. after enrollment: 88.5%
> Typical earnings 6 yrs. after enrollment: $30,800
[recirclink id=817966]
Illinois: University of Illinois at Urbana-Champaign
> City: Champaign
> Admission rate: 59.0%
> Undergraduate enrollment: 32,974
> Avg. annual cost of attendance: $30,082
> Employment rate 6 yrs. after enrollment: 94.5%
> Typical earnings 6 yrs. after enrollment: $47,100
Indiana: Purdue University-Main Campus
> City: West Lafayette
> Admission rate: 59.8%
> Undergraduate enrollment: 33,495
> Avg. annual cost of attendance: $22,430
> Employment rate 6 yrs. after enrollment: 94.6%
> Typical earnings 6 yrs. after enrollment: $44,800
[in-text-ad-2]
Iowa: Iowa State University
> City: Ames
> Admission rate: 92.1%
> Undergraduate enrollment: 29,248
> Avg. annual cost of attendance: $20,476
> Employment rate 6 yrs. after enrollment: 95.9%
> Typical earnings 6 yrs. after enrollment: $41,200
Kansas: Kansas State University
> City: Manhattan
> Admission rate: 95.4%
> Undergraduate enrollment: 17,611
> Avg. annual cost of attendance: $23,724
> Employment rate 6 yrs. after enrollment: 94.2%
> Typical earnings 6 yrs. after enrollment: $38,400
[in-text-ad]
Kentucky: Northern Kentucky University
> City: Highland Heights
> Admission rate: 90.2%
> Undergraduate enrollment: 10,201
> Avg. annual cost of attendance: $17,711
> Employment rate 6 yrs. after enrollment: 92.9%
> Typical earnings 6 yrs. after enrollment: $32,800
[recirclink id=768812]
Louisiana: Louisiana State University and Agricultural & Mechanical College
> City: Baton Rouge
> Admission rate: 74.6%
> Undergraduate enrollment: 23,468
> Avg. annual cost of attendance: $28,539
> Employment rate 6 yrs. after enrollment: 92.8%
> Typical earnings 6 yrs. after enrollment: $40,200
Maine: University of Southern Maine
> City: Portland
> Admission rate: 80.9%
> Undergraduate enrollment: 5,281
> Avg. annual cost of attendance: $19,385
> Employment rate 6 yrs. after enrollment: 92.9%
> Typical earnings 6 yrs. after enrollment: $33,000
[in-text-ad-2]
Maryland: University of Maryland-College Park
> City: College Park
> Admission rate: 44.2%
> Undergraduate enrollment: 30,184
> Avg. annual cost of attendance: $25,919
> Employment rate 6 yrs. after enrollment: 93.2%
> Typical earnings 6 yrs. after enrollment: $47,200
Massachusetts: MCPHS University
> City: Boston
> Admission rate: 85.3%
> Undergraduate enrollment: 3,933
> Avg. annual cost of attendance: $51,537
> Employment rate 6 yrs. after enrollment: 96.2%
> Typical earnings 6 yrs. after enrollment: $75,700
[in-text-ad]
Michigan: Michigan Technological University
> City: Houghton
> Admission rate: 74.3%
> Undergraduate enrollment: 5,736
> Avg. annual cost of attendance: $28,176
> Employment rate 6 yrs. after enrollment: 96.6%
> Typical earnings 6 yrs. after enrollment: $55,200
[recirclink id=640586]
Minnesota: Minnesota State University-Mankato
> City: Mankato
> Admission rate: 62.7%
> Undergraduate enrollment: 11,675
> Avg. annual cost of attendance: $19,883
> Employment rate 6 yrs. after enrollment: 96.1%
> Typical earnings 6 yrs. after enrollment: $37,200
Mississippi: University of Mississippi
> City: University
> Admission rate: 88.1%
> Undergraduate enrollment: 17,784
> Avg. annual cost of attendance: $24,822
> Employment rate 6 yrs. after enrollment: 92.1%
> Typical earnings 6 yrs. after enrollment: $35,100
[in-text-ad-2]
Missouri: Truman State University
> City: Kirksville
> Admission rate: 62.6%
> Undergraduate enrollment: 4,906
> Avg. annual cost of attendance: $20,745
> Employment rate 6 yrs. after enrollment: 96.3%
> Typical earnings 6 yrs. after enrollment: $34,300
Montana: Montana State University
> City: Bozeman
> Admission rate: 81.9%
> Undergraduate enrollment: 14,566
> Avg. annual cost of attendance: $20,464
> Employment rate 6 yrs. after enrollment: 92.1%
> Typical earnings 6 yrs. after enrollment: $33,500
[in-text-ad]
Nebraska: Wayne State College
> City: Wayne
> Admission rate: 0.0%
> Undergraduate enrollment: 2,754
> Avg. annual cost of attendance: $18,288
> Employment rate 6 yrs. after enrollment: 95.5%
> Typical earnings 6 yrs. after enrollment: $33,000
[recirclink id=825111]
Nevada: University of Nevada-Reno
> City: Reno
> Admission rate: 88.2%
> Undergraduate enrollment: 17,513
> Avg. annual cost of attendance: $21,792
> Employment rate 6 yrs. after enrollment: 91.5%
> Typical earnings 6 yrs. after enrollment: $37,700
New Hampshire: University of New Hampshire-Main Campus
> City: Durham
> Admission rate: 84.0%
> Undergraduate enrollment: 12,668
> Avg. annual cost of attendance: $32,469
> Employment rate 6 yrs. after enrollment: 95.9%
> Typical earnings 6 yrs. after enrollment: $42,400
[in-text-ad-2]
New Jersey: New Jersey Institute of Technology
> City: Newark
> Admission rate: 72.8%
> Undergraduate enrollment: 7,820
> Avg. annual cost of attendance: $30,562
> Employment rate 6 yrs. after enrollment: 91.7%
> Typical earnings 6 yrs. after enrollment: $53,600
New Mexico: University of New Mexico-Main Campus
> City: Albuquerque
> Admission rate: 94.3%
> Undergraduate enrollment: 17,321
> Avg. annual cost of attendance: $19,235
> Employment rate 6 yrs. after enrollment: 84.5%
> Typical earnings 6 yrs. after enrollment: $28,100
[in-text-ad]
New York: SUNY Maritime College
> City: Throggs Neck
> Admission rate: 73.6%
> Undergraduate enrollment: 1,581
> Avg. annual cost of attendance: $25,308
> Employment rate 6 yrs. after enrollment: 94.8%
> Typical earnings 6 yrs. after enrollment: $61,200
[recirclink id=825465]
North Carolina: University of North Carolina at Chapel Hill
> City: Chapel Hill
> Admission rate: 22.6%
> Undergraduate enrollment: 18,946
> Avg. annual cost of attendance: $25,527
> Employment rate 6 yrs. after enrollment: 93.5%
> Typical earnings 6 yrs. after enrollment: $41,000
North Dakota: North Dakota State University-Main Campus
> City: Fargo
> Admission rate: 93.6%
> Undergraduate enrollment: 11,182
> Avg. annual cost of attendance: $20,733
> Employment rate 6 yrs. after enrollment: 96.3%
> Typical earnings 6 yrs. after enrollment: $40,400
[in-text-ad-2]
Ohio: Ohio Northern University
> City: Ada
> Admission rate: 70.1%
> Undergraduate enrollment: 2,144
> Avg. annual cost of attendance: $46,118
> Employment rate 6 yrs. after enrollment: 96.5%
> Typical earnings 6 yrs. after enrollment: $51,400
Oklahoma: Oklahoma State University-Main Campus
> City: Stillwater
> Admission rate: 70.0%
> Undergraduate enrollment: 20,323
> Avg. annual cost of attendance: $23,446
> Employment rate 6 yrs. after enrollment: 92.7%
> Typical earnings 6 yrs. after enrollment: $38,300
[in-text-ad]
Oregon: Oregon Institute of Technology
> City: Klamath Falls
> Admission rate: 97.1%
> Undergraduate enrollment: 3,558
> Avg. annual cost of attendance: $22,493
> Employment rate 6 yrs. after enrollment: 93.6%
> Typical earnings 6 yrs. after enrollment: $54,400
[recirclink id=817966]
Pennsylvania: Lehigh University
> City: Bethlehem
> Admission rate: 32.1%
> Undergraduate enrollment: 5,030
> Avg. annual cost of attendance: $65,652
> Employment rate 6 yrs. after enrollment: 95.4%
> Typical earnings 6 yrs. after enrollment: $66,200
Rhode Island: Rhode Island College
> City: Providence
> Admission rate: 78.4%
> Undergraduate enrollment: 6,480
> Avg. annual cost of attendance: $16,619
> Employment rate 6 yrs. after enrollment: 94.5%
> Typical earnings 6 yrs. after enrollment: $33,600
[in-text-ad-2]
South Carolina: Citadel Military College of South Carolina
> City: Charleston
> Admission rate: 74.7%
> Undergraduate enrollment: 2,882
> Avg. annual cost of attendance: $28,743
> Employment rate 6 yrs. after enrollment: 96.2%
> Typical earnings 6 yrs. after enrollment: $44,600
South Dakota: South Dakota School of Mines and Technology
> City: Rapid City
> Admission rate: 76.6%
> Undergraduate enrollment: 2,177
> Avg. annual cost of attendance: $23,275
> Employment rate 6 yrs. after enrollment: 94.0%
> Typical earnings 6 yrs. after enrollment: $53,200
[in-text-ad]
Tennessee: The University of Tennessee-Knoxville
> City: Knoxville
> Admission rate: 78.8%
> Undergraduate enrollment: 22,653
> Avg. annual cost of attendance: $30,930
> Employment rate 6 yrs. after enrollment: 93.6%
> Typical earnings 6 yrs. after enrollment: $36,900
[recirclink id=768812]
Texas: Texas A & M University-College Station
> City: College Station
> Admission rate: 57.8%
> Undergraduate enrollment: 53,194
> Avg. annual cost of attendance: $28,314
> Employment rate 6 yrs. after enrollment: 95.1%
> Typical earnings 6 yrs. after enrollment: $48,600
Utah: University of Utah
> City: Salt Lake City
> Admission rate: 62.1%
> Undergraduate enrollment: 23,396
> Avg. annual cost of attendance: $20,422
> Employment rate 6 yrs. after enrollment: 90.2%
> Typical earnings 6 yrs. after enrollment: $40,800
[in-text-ad-2]
Vermont: University of Vermont
> City: Burlington
> Admission rate: 67.3%
> Undergraduate enrollment: 10,612
> Avg. annual cost of attendance: $32,825
> Employment rate 6 yrs. after enrollment: 94.5%
> Typical earnings 6 yrs. after enrollment: $37,100
Virginia: Virginia Polytechnic Institute and State University
> City: Blacksburg
> Admission rate: 70.0%
> Undergraduate enrollment: 27,730
> Avg. annual cost of attendance: $26,240
> Employment rate 6 yrs. after enrollment: 96.1%
> Typical earnings 6 yrs. after enrollment: $48,000
[in-text-ad]
Washington: University of Washington-Bothell Campus
> City: Bothell
> Admission rate: 74.1%
> Undergraduate enrollment: 5,363
> Avg. annual cost of attendance: $22,125
> Employment rate 6 yrs. after enrollment: 91.0%
> Typical earnings 6 yrs. after enrollment: $44,900
[recirclink id=640586]
West Virginia: West Virginia University
> City: Morgantown
> Admission rate: 84.3%
> Undergraduate enrollment: 20,499
> Avg. annual cost of attendance: $21,278
> Employment rate 6 yrs. after enrollment: 93.1%
> Typical earnings 6 yrs. after enrollment: $34,500
Wisconsin: University of Wisconsin-La Crosse
> City: La Crosse
> Admission rate: 73.0%
> Undergraduate enrollment: 9,517
> Avg. annual cost of attendance: $17,213
> Employment rate 6 yrs. after enrollment: 96.4%
> Typical earnings 6 yrs. after enrollment: $38,300
[in-text-ad-2]
Wyoming: University of Wyoming
> City: Laramie
> Admission rate: 96.0%
> Undergraduate enrollment: 9,854
> Avg. annual cost of attendance: $19,777
> Employment rate 6 yrs. after enrollment: 92.6%
> Typical earnings 6 yrs. after enrollment: $38,700
Methodology
To determine the most affordable colleges with the best outcomes in every state, 24/7 Wall St. constructed an index of seven measures. To measure the affordability of a college, we included: 1) average annual net price; 2) average cost of attendance; and 3) percentage of students who have made progress paying their student loans. To evaluate the outcomes of graduates of each college, we included: 4) employment rates for graduates six years after the first year of enrollment; 5) employment rates for graduates 10 years after the first year of enrollment; 6) median earnings for graduates six years after the first year of enrollment; and 7) median earnings for graduates 10 years after the first year of enrollment. We reviewed data for over 6,000 bachelor-degree granting institutions. All data are from the U.S. Department of Education program and are for the most recent period available.
- Data on the average net price — which is the average yearly price of attending a school (tuition plus living expenses) for first-time, full-time undergraduates after financial aid — for students who receive financial aid in the 2018-19 academic year was included in the index at full weight.
- Data on the average cost of attendance, which does not account for financial aid, for all students in the 2017-18 academic year was included in the index at full weight.
- Data on the percentage of students who left school with federal loans in the 2011-12 academic year who are not in default on their loans and who have put some money toward the initial loan balance within five years of entering repayment was included in the index at full weight.
- Data on the percentage of individuals who entered university in the 2008-09 academic year and were employed six years later was included in the index at half weight.
- Data on the percentage of individuals who entered university in the 2004-05 academic year and were employed 10 years later was included in the index at half weight.
- Data on the median earnings of individuals who entered university in the 2008-09 academic year and were employed six years later was included in the index at half weight.
- Data on the median earnings of individuals who entered university in the 2004-05 academic year and were employed 10 years later was included in the index at half weight.
Only universities that primarily grant bachelor’s degrees and have at least 1,500 undergraduates enrolled as of fall 2018 were considered. Data on acceptance rates are also from the Department of Education and are for the 2019-20 school year.
Top Gaining Stocks
Top Losing Stocks