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Best value in private colleges

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Kiplinger's Personal Finance magazine just published its ranking of the "best values" in private colleges. The rankings featured two lists: one for the top liberal arts colleges, which offer mostly undergraduate programs, and the other for universities, which also offer graduate degrees.

As a sophomore of Amherst College, I was not surprised to see Swarthmore, Williams, and Amherst round out the top three colleges. Cal Tech, Yale, and Harvard topped the list for the top three universities.

Like many private institutions across the nation, Swarthmore uses its own calculation, in addition to the federal government's formula, to determine who qualifies for need-based aid. "We really want to know your situation and give a fair assessment," says James Bock, the financial aid director at Swarthmore college. The result can be surprising. "People can qualify for aid with incomes of $140,000 and above."

Not only does Swarthmore and these highly competitive liberal arts colleges offer a great education and financial aid packages, but they seem also to come with a degree of social conscience, e.g., the capacity to "change the world energy." Scott Storm, chose Swarthmore because he "wanted a place that was going to be very aware of social and civic responsibilities. One example that was noted was that Swarthmore sent "Swatties" to New Orleans to gut houses and to China to work in Aids clinics.


Last year, at Amherst, my lacrosse team was responsible for sending three truckloads of food, clothes, and other items to New Orleans in the wake of Katrina. Rather than passing off the transportation duties to a professional driver, our coaches personally drove the trucks from western Massachusetts down to New Orleans where they stayed to help for two weeks. The sense of social commitment to others is not only palpable in the student body, but extended to the faculty and staff.

On the university side, Cal Tech, offers a jaw dropping 3:1 student:faculty ratio and a financial aid policy where students graduate with less than $5,500 in debt -- the national median is $19,500. "I don't have to worry about money," says Andrew Kositsky, a junior whose package will allow him to graduate debt-free. "It's very reassuring."

Not only does Cal Tech offer great packages and flexibility with its aid, "for a math whiz seeking an atmosphere of 'math-science nerdiness,' this tiny institution proved to be a perfect fit." Cal Tech boats five nobel laureates on its faculty, and produces some of the brightest mathematicians and scientists around.

Private schools all over are starting to pledge more funds to those who typically won't end up at schools such as Williams, Harvard, Yale, and Amherst because of cost issues. Amherst President Tony Marx has set in motion an initiative to attract lower-income students whose annual family income is less than $40,000. The college plans to expand its total enrollment by admitting approximately 30 more students each year, and administrators project 10 to 12 will be from the low-income quartile.

Of course, the Kiplinger's report did not reflect in its rankings Mr. Marx's goals and aspirations for educating this segment of the population, which merits high marks in its purpose, but also comes with the potential risk of changing the university's standing on the academic indices Kiplinger reports.

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Last updated: July 10, 2009: 02:24 AM

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