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.
Source: wellesenterprises / iStock Editorial via Getty Images
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]
Source: University of Alaska Anchorage
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
24/7 Wall St.
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
Source: Tashka / iStock via Getty Images
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]
Source: Gregg Erickson / Public Domain / Wikimedia Commons
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]
Source: John9474 / Wikimedia Commons
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
Source: gregobagel / iStock via Getty Images
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
Source: Embry-Riddle Prescott / Wikimedia Commons
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]
Source: Georgia Tech
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
Source: mizoula / iStock Editorial via Getty Images
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]
Source: Courtesy of Lewis-Clark State College
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
24/7 Wall St.
Source: eyfoto / iStock via Getty Images
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
Source: Purdue9394 / Getty Images
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]
Source: Wolterk / iStock Editorial via Getty Images
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
Source: wellesenterprises / iStock Editorial via Getty Images
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]
Source: Samvscat / Wikimedia Commons
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
Source: lsu.edu
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
Source: University of Southern Maine
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
Source: Courtesy of Massachusetts College of Pharmacy and Health Sciences via Facebook
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]
Source: nameinfame / iStock via Getty Images
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
24/7 Wall St.
Source: 79315705@N06 / Flickr
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
Source: BSPollard / iStock via Getty Images
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]
Source: nonorganical / Flickr
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
Source: Solidago / iStock Unreleased via Getty Images
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]
Source: Ammodramus / Public Domain / Wikimedia Commons
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
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
Source: DenisTangneyJr / Getty Images
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]
Source: Courtesy of NJIT via Facebook
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
Source: Wikimedia Commons
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]
Source: SUNY Maritime College
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
Source: Ryan Herron / iStock Unreleased via Getty Images
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
Source: North Dakota State University
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]
Source: aloha75 / Flickr
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
Source: DBinfo / Wikimedia Commons
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]
Source: oregondot / Flickr
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
Source: CynthiaAnnF / iStock via Getty Images
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
Source: Rhode Island College (RIC)
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]
Source: sailaway46 / iStock via Getty Images
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
Source: South Dakota School of Mines and Technology
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]
Source: sframephoto / iStock via Getty Images
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
24/7 Wall St.
Source: wellesenterprises / iStock Editorial via Getty Images
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
Source: walencienne / iStock Editorial via Getty Images
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]
Source: DenisTangneyJr / iStock Unreleased via Getty Images
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
Source: BSPollard / iStock via Getty Images
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]
Source: Joe Mabel / Wikimedia Commons
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
Source: LawrenceSawyer / E+ via Getty Images
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
Source: tinfoilraccoon / Flickr
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]
Source: Thecoldmidwest / Wikimedia Commons
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.
Sponsored: Attention Savvy Investors: Speak to 3 Financial Experts – FREE
Ever wanted an extra set of eyes on an investment you’re considering? Now you can speak with up to 3 financial experts in your area for FREE. By simply
clicking here you can begin to match with financial professionals who can help guide you through the financial decisions you’re making. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
