By Iris Stone
Michigan is home to a particularly diverse group of colleges and universities. There are large state schools that support long-running athletic rivalries (think Michigan State and the University of Michigan), plus small colleges, religious schools, and career prep/technology universities. Michigan also stands at an advantage to many other states, as its lower cost of living and real estate prices make it an overall more affordable choice than other regions of the U.S. In fact, in our list below, 70% of the colleges represented have a net price below $23,000 a year – a clear indication that an affordable education is within easy reach in this state. For information about the best affordable online learning available in Michigan visit our ranking of the top affordable online schools in Michigan.
Our goal was to identify not just the top Michigan colleges, but more specifically the ones that offer a lot of "bang for their buck." As such, we developed a ranking system that pinpoints some of the most important factors you'll need to consider when applying to college: student success (graduation rate), affordability (net price), selectivity (acceptance rate), and long-term value (return on investment).
Our Ranking Methodology:
Graduation Rate: This indicator refers to the percentage of students who complete their degree within 150% of normal time (six years for a typical four-year degree program). Schools that perform well in this area have a track record of keeping students engaged and successful for their entire time on campus. We weighted this category 30% of the total and retrieved the information from College Navigator.
Net Price: In order to make sure that cost was still a factor in the ranking, we also considered overall net price as an indicator. Taken from data on College Navigator, "net price" is an approximate value that refers to the average amount of money a student could expect to pay each year after taking into account tuition, room and board, living expenses, scholarship awards, and financial aid packages. We weighted this category 25% of the total.
Acceptance Rate: Academically challenging, popular universities tend to be more selective and thus have a lower acceptance rate. In order to pinpoint those colleges that boast rigorous academics and also receive a large number of applications, we considered acceptance rate – the percentage of students out of the total number of applicants who receive an acceptance letter. We retrieved this information from College Navigator and weighted it 30% of the total.
20-Year Net Return on Investment: Taken from information on the website PayScale, this statistic provides a picture of how much students can expect to make after they graduate from a particular college. More specifically, the figure is calculated by taking the average income an alumnus will make over his or her first 20 years after graduation and subtracting the amount paid in tuition. Schools with a high ROI tend to be better at preparing their students for the job market. We weighted this category only 15% because data was not available for all colleges considered.
After adding all the points, we gave each university a final score out of 200. The schools below have scores ranging from 81 to 174, and each has something different to offer in terms of its cost, quality, and reputation. No one college is perfect (which is why the scores vary so much) but this ranking offers you a premier selection of universities to help get you started on your search for an education in Michigan.
Featured Online Programs
Figuring out where to apply? These top, accredited schools offer a variety of online degrees. Consider one of these accredited programs, and discover their value today.
Sources:
College Navigator
Pay Scale
About the Author:
Iris Stone began her writing career as a freelance writer and researcher. She now owns and operates a writing and editing firm that works with clients all across the country. Her work has included articles related to education policy, colleges and universities, academic programs, and careers.
