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Wofford 8th on ‘Best Values in Private Colleges’ list

Kiplinger ranks top 10 institutions for net price under $20,000
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2014-02-17

SPARTANBURG, S.C. – Wofford College is eighth on Kiplinger magazine’s top 10 “best values in private colleges under $20,000,” based on net price after need- and merit-based aid to students.

The 10 institutions are listed among Kiplinger’s annual rankings of the best private-college values; Wofford ranks number 32 on the magazine’s list of national liberal arts colleges. Among the diverse group of institutions on the top 10 list are Harvard University, Yale University, Amherst College and Brigham Young University. In the top spot is Berea College in Kentucky, which provides each admitted student a full four-year tuition scholarship.

“When it comes to college costs, the price tag often has little resemblance to what students actually pay,” the magazine writes. “The net price – the annual cost in tuition, fees, room, board and books after need- and merit-based aid – at private institutions is typically about half the sticker prices.” It notes that the 10 listed “do better than typical,” with a net price of less than $17,000 for most students after need-based aid is figured in. “Students who borrow from these schools walk away with less – often much less – than the average student debt of about $27,000.”

Wofford’s annual cost – including tuition, fees, room, board and books – of $45,795 becomes an average net cost of $16,880 after the average need-based aid of $28,915.

“Founded in 1854, the pre-Civil War college provides generous need-based financial aid, dropping the sticker price by nearly two-thirds on average,” the magazine writes of Wofford. “Merit aid averaging $14,769 helps students who do not qualify for need-based aid.”