2022 Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $0-$30k
When pursuing a degree in today’s world, students have many different options to choose from. College Factual has developed its “Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $0-$30k” ranking as one item you can use to help make this decision.
Economics is the 18th most popular major in the country with 48,831 degrees awarded in 2019-2020. In 2017-2018, economics graduates who were awarded their degree in 2015-2017, earned an average of $47,295 and had an average of $21,978 in loans still to pay off.
Across the Great Lakes region, there were 6,771 economics graduates with average earnings and debt of $45,903 and $22,924 respectively. At the bachelor’s degree level specifically, there were 5,709 economics graduates with average earnings and debt of $39,075 and $25,381 respectively.
For this year’s “Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $0-$30k” ranking, we looked at 99 colleges that offer a degree in economics. This ranking identifies schools with high-quality economics programs that also have a lower cost than schools of similar quality.
Some of the factors we look at when determining these rankings are overall quality of the economics program at the school and the cost of the school after aid is awarded among other things. For more information, check out our ranking methodology.
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When choosing the right school for you, it’s important to arm yourself with all the facts you can. To that end, we’ve created a number of major-specific rankings, including this “Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $0-$30k” list to help you make the college decision.
We’ve created a tool called College Combat that lets you create your own customized comparisons based on the factors that matter the most to you. If you’re torn between two schools, you can use it to help you see how they stack up against one another. Bookmark it so you can compare any new schools that might interest you.
Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $0-$30k
The following schools top our list of the Best Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $0-$30k.
Top 25 Best Value Bachelor’s Degree Colleges for Economics (Income $0-$30k) in the Great Lakes Region
Out of the 99 schools in the Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $0-$30k that were part of this year’s ranking, University of Chicago landed the #1 spot on the list. Located in Chicago, Illinois, this fairly large private not-for-profit school handed out 423 diplomas to qualified bachelors’s economics students in 2019-2020.
UChicago not only placed well in this ranking. It is also #1 on our “Best Economics Bachelor’s Degree Schools in the Great Lakes Region” list. It costs about $2,712 for Great Lakes Region Bachelor’s Degree Economics students whose families make $0-$30k per year to attend University of Chicago.
The school has an excellent freshman retention rate of 100%, which means students like the school well enough to return for a second year. The low student loan default rate of 0.6% is a good sign that students have an easier time paying off their loans than they might at other schools. For comparison, the national default rate is 10.1%. Since the school has a student-to-faculty ratio of 5 to 1, those pursuing a degree will have more opportunities to interact with their professors.
You’ll be in good company if you decide to attend Northwestern University. It ranked #2 on our 2022 Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $0-$30k list. This large school is located in Evanston, Illinois, and it awarded 338 bachelors’s economics degrees in 2019-2020.
Northwestern also made our “Best Economics Bachelor’s Degree Schools in the Great Lakes Region” list, coming in at #2. The estimated yearly cost for Northwestern University is $1,866 for Great Lakes Region Bachelor’s Degree Economics students whose families make $0-$30k.
The student-to-faculty ratio of 6 to 1 is a sign that students will have more opportunities to engage with their professors one-on-one. The student loan default rate at the school is 0.8%, which is quite low when compared to the national default rate of 10.1%. With a freshman retention rate of 97%, the school does an excellent job of retaining its students.
You’ll be in good company if you decide to attend University of Michigan - Ann Arbor. It ranked #3 on our 2022 Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $0-$30k list. Ann Arbor, Michigan is the setting for this large institution of higher learning. The public school handed out bachelors’s economics degrees to 586 students in 2019-2020.
U-M also took the #4 spot in our “Best Economics Bachelor’s Degree Schools in the Great Lakes Region” ranking. The yearly cost to attend U-M is $3,166 for great lakes region bachelor’s degree economics students whose families make $0-$30k.
The student loan default rate at the school is 1.2%, which is quite low when compared to the national default rate of 10.1%. With a freshman retention rate of 96%, the school does an excellent job of retaining its students.
You’ll join some of the best and brightest minds around if you attend University of Wisconsin - Madison. The school came in at #4 for the Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $0-$30k. UW - Madison is a large school located in Madison, Wisconsin that handed out 566 bachelors’s economics degrees in 2019-2020.
UW - Madison also made our “Best Economics Bachelor’s Degree Schools in the Great Lakes Region” list, coming in at #6. The estimated yearly cost for University of Wisconsin - Madison is $4,367 for Great Lakes Region Bachelor’s Degree Economics students whose families make $0-$30k.
With a freshman retention rate of 95%, the school does an excellent job of retaining its students. The school has an impressive student loan default rate. It’s only 0.8%, which is much lower than the national rate of 10.1%.
You’ll join some of the best and brightest minds around if you attend University of Notre Dame. The school came in at #5 for the Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $0-$30k. Notre Dame is a fairly large private not-for-profit school situated in Notre Dame, Indiana. It awarded 243 bachelors’s economics degrees in 2019-2020.
Notre Dame not only placed well in this ranking. It is also #3 on our “Best Economics Bachelor’s Degree Schools in the Great Lakes Region” list. It costs about $12,498 for Great Lakes Region Bachelor’s Degree Economics students whose families make $0-$30k per year to attend Notre Dame.
With a freshman retention rate of 97%, the school does an excellent job of retaining its students. The impressive student-to-faculty ratio of 9 to 1 means that students may have more opportunities to work more closely with their professors than they would at other schools. The student loan default rate at the school is 0.7%, which is quite low when compared to the national default rate of 10.1%.
University of Illinois at Urbana-Champaign did quite well in the 2022 Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $0-$30k ranking, coming in at #6. UIUC is a large public school situated in Champaign, Illinois. It awarded 490 bachelors’s economics degrees in 2019-2020.
UIUC also made our “Best Economics Bachelor’s Degree Schools in the Great Lakes Region” list, coming in at #5. The yearly cost to attend University of Illinois at Urbana-Champaign is $5,477 for great lakes region bachelor’s degree economics students whose families make $0-$30k.
Students who start out at the school are likely to stick around. The freshman retention rate is 94%. The student loan default rate at the school is 2.4%, which is quite low when compared to the national default rate of 10.1%.
Purdue University - Main Campus ranked #7 on this year’s Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $0-$30k list. West Lafayette, Indiana is the setting for this large institution of higher learning. The public school handed out bachelors’s economics degrees to 107 students in 2019-2020.
Purdue also took the #16 spot in our “Best Economics Bachelor’s Degree Schools in the Great Lakes Region” ranking. The yearly cost to attend Purdue University - Main Campus is $5,483 for Great Lakes Region Bachelor’s Degree Economics students whose families make $0-$30k.
The school has an excellent freshman retention rate of 93%, which means students like the school well enough to return for a second year. The low student loan default rate of 2.2% is a good sign that students have an easier time paying off their loans than they might at other schools. For comparison, the national default rate is 10.1%.
Read more about Economics at Purdue University - Main Campus
With a ranking of #8, Indiana University - Bloomington did quite well on the 2022 Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $0-$30k list. Indiana University - Bloomington is a large public school situated in Bloomington, Indiana. It awarded 133 bachelors’s economics degrees in 2019-2020.
In addition to being on our great lakes region bachelor’s degree economics students whose families make $0-$30k list, IU Bloomington has also earned the #18 rank in our “Best Economics Bachelor’s Degree Schools in the Great Lakes Region” ranking. It costs about $4,969 for Great Lakes Region Bachelor’s Degree Economics students whose families make $0-$30k per year to attend Indiana University - Bloomington.
The school has an impressive student loan default rate. It’s only 4.3%, which is much lower than the national rate of 10.1%. With a freshman retention rate of 91%, the school does an excellent job of retaining its students.
Michigan State University landed the #9 spot on the 2022 Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $0-$30k ranking. Located in East Lansing, Michigan, this large public school awarded 316 degrees to qualified bachelors’s economics students in 2019-2020.
Michigan State also made our “Best Economics Bachelor’s Degree Schools in the Great Lakes Region” list, coming in at #15. It costs about $6,686 for great lakes region bachelor’s degree economics students whose families make $0-$30k per year to attend Michigan State University.
With a freshman retention rate of 91%, the school does an excellent job of retaining its students. The school has an impressive student loan default rate. It’s only 3.6%, which is much lower than the national rate of 10.1%.
Ohio State University - Main Campus landed the #10 spot on the 2022 Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $0-$30k ranking. Located in Columbus, Ohio, this large public school awarded 304 diplomas to qualified bachelors’s economics students in 2019-2020.
In addition to being on our great lakes region bachelor’s degree economics students whose families make $0-$30k list, Ohio State has also earned the #14 rank in our “Best Economics Bachelor’s Degree Schools in the Great Lakes Region” ranking. It costs about $8,194 for Great Lakes Region Bachelor’s Degree Economics students whose families make $0-$30k per year to attend Ohio State.
The student loan default rate at the school is 4.4%, which is quite low when compared to the national default rate of 10.1%. The school has an excellent freshman retention rate of 94%, which means students like the school well enough to return for a second year.
Read full report on Economics at Ohio State University - Main Campus
Oberlin College landed the #11 spot on the 2022 Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $0-$30k ranking. Oberlin College is a private not-for-profit institution located in Oberlin, Ohio. The school has a small population, and it awarded 36 bachelors’s degrees in 2019-2020.
Oberlin did well in our major quality rankings, too. It placed #10 on our “Best Economics Bachelor’s Degree Schools in the Great Lakes Region” list. It costs about $9,037 for great lakes region bachelor’s degree economics students whose families make $0-$30k per year to attend Oberlin College.
The low student loan default rate of 1.7% is a good sign that students have an easier time paying off their loans than they might at other schools. For comparison, the national default rate is 10.1%. The student-to-faculty ratio of 9 to 1 is a sign that students will have more opportunities to engage with their professors one-on-one.
University of Wisconsin - La Crosse did quite well in the 2022 Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $0-$30k ranking, coming in at #12. La Crosse, Wisconsin is the setting for this fairly large institution of higher learning. The public school handed out bachelors’s economics degrees to 45 students in 2019-2020.
UW - La Crosse did well in our major quality rankings, too. It placed #20 on our “Best Economics Bachelor’s Degree Schools in the Great Lakes Region” list. The yearly cost to attend University of Wisconsin - La Crosse is $7,939 for great lakes region bachelor’s degree economics students whose families make $0-$30k.
The school has an impressive student loan default rate. It’s only 1.6%, which is much lower than the national rate of 10.1%. The school has an excellent freshman retention rate of 86%, which means students like the school well enough to return for a second year.
Read more about Economics at University of Wisconsin - La Crosse
University of Wisconsin - River Falls ranked #13 on this year’s Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $0-$30k list. This medium-sized school is located in River Falls, Wisconsin, and it awarded 17 bachelors’s economics degrees in 2019-2020.
In addition to being on our great lakes region bachelor’s degree economics students whose families make $0-$30k list, UW - River Falls has also earned the #21 rank in our “Best Economics Bachelor’s Degree Schools in the Great Lakes Region” ranking. The yearly cost to attend UW - River Falls is $8,366 for great lakes region bachelor’s degree economics students whose families make $0-$30k.
The school has an impressive student loan default rate. It’s only 2.7%, which is much lower than the national rate of 10.1%.
With a ranking of #14, University of Wisconsin - Whitewater did quite well on the 2022 Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $0-$30k list. Whitewater, Wisconsin is the setting for this fairly large institution of higher learning. The public school handed out bachelors’s economics degrees to 25 students in 2019-2020.
The yearly cost to attend UW - Whitewater is $11,868 for Great Lakes Region Bachelor’s Degree Economics students whose families make $0-$30k.
Indiana University - Purdue University - Indianapolis came in at #15 in this year’s edition of the Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $0-$30k ranking. This large school is located in Indianapolis, Indiana, and it awarded 24 bachelors’s economics degrees in 2019-2020.
The yearly cost to attend IUPUI is $5,052 for great lakes region bachelor’s degree economics students whose families make $0-$30k.
Beloit College did quite well in the 2022 Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $0-$30k ranking, coming in at #16. Beloit College is a small private not-for-profit school situated in Beloit, Wisconsin. It awarded 20 bachelors’s economics degrees in 2019-2020.
The yearly cost to attend Beloit College is $8,574 for great lakes region bachelor’s degree economics students whose families make $0-$30k.
The school has an excellent freshman retention rate of 90%, which means students like the school well enough to return for a second year. The school has an impressive student loan default rate. It’s only 1.9%, which is much lower than the national rate of 10.1%. Since the school has a student-to-faculty ratio of 10 to 1, those pursuing a degree will have more opportunities to interact with their professors.
With a ranking of #17, University of Wisconsin - Eau Claire did quite well on the 2022 Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $0-$30k list. University of Wisconsin - Eau Claire is a fairly large school located in Eau Claire, Wisconsin that handed out 43 bachelors’s economics degrees in 2019-2020.
The estimated yearly cost for University of Wisconsin - Eau Claire is $11,528 for great lakes region bachelor’s degree economics students whose families make $0-$30k.
With a ranking of #18, University of Wisconsin - Stevens Point did quite well on the 2022 Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $0-$30k list. UW - Stevens Point is a medium-sized public school situated in Stevens Point, Wisconsin. It awarded 8 bachelors’s economics degrees in 2019-2020.
The estimated yearly cost for University of Wisconsin - Stevens Point is $11,446 for great lakes region bachelor’s degree economics students whose families make $0-$30k.
Read more about Economics at University of Wisconsin - Stevens Point
Ball State University did quite well in the 2022 Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $0-$30k ranking, coming in at #18. This large school is located in Muncie, Indiana, and it awarded 44 bachelors’s economics degrees in 2019-2020.
The yearly cost to attend Ball State is $8,403 for Great Lakes Region Bachelor’s Degree Economics students whose families make $0-$30k.
University of Wisconsin - Oshkosh came in at #20 in this year’s edition of the Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $0-$30k ranking. UW Oshkosh is a public institution located in Oshkosh, Wisconsin. The school has a fairly large population, and it awarded 57 bachelors’s degrees in 2019-2020.
The estimated yearly cost for University of Wisconsin - Oshkosh is $11,687 for Great Lakes Region Bachelor’s Degree Economics students whose families make $0-$30k.
Read full report on Economics at University of Wisconsin - Oshkosh
University of Wisconsin - Green Bay ranked #21 on this year’s Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $0-$30k list. University of Wisconsin - Green Bay is a medium-sized public school situated in Green Bay, Wisconsin. It awarded 4 bachelors’s economics degrees in 2019-2020.
The estimated yearly cost for UW - Green Bay is $11,337 for Great Lakes Region Bachelor’s Degree Economics students whose families make $0-$30k.
Read more about Economics at University of Wisconsin - Green Bay
University of Southern Indiana landed the #22 spot on the 2022 Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $0-$30k ranking. University of Southern Indiana is a fairly large school located in Evansville, Indiana that handed out 18 bachelors’s economics degrees in 2019-2020.
It costs about $8,244 for great lakes region bachelor’s degree economics students whose families make $0-$30k per year to attend USI.
The student loan default rate at the school is 5.0%, which is quite low when compared to the national default rate of 10.1%.
University of Illinois at Chicago landed the #23 spot on the 2022 Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $0-$30k ranking. University of Illinois at Chicago is located in Chicago, Illinois and, has a large student population. In 2019-2020, this school awarded 99 bachelors’s economics degrees to qualified students.
The yearly cost to attend UIC is $10,648 for Great Lakes Region Bachelor’s Degree Economics students whose families make $0-$30k.
The student loan default rate at the school is 3.4%, which is quite low when compared to the national default rate of 10.1%.
Southern Illinois University Edwardsville landed the #24 spot on the 2022 Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $0-$30k ranking. Located in Edwardsville, Illinois, this fairly large public school awarded 9 degrees to qualified bachelors’s economics students in 2019-2020.
It costs about $8,055 for Great Lakes Region Bachelor’s Degree Economics students whose families make $0-$30k per year to attend SIUE.
University of Wisconsin - Parkside came in at #25 in this year’s edition of the Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $0-$30k ranking. UW - Parkside is a public institution located in Kenosha, Wisconsin. The school has a small population, and it awarded 9 bachelors’s degrees in 2019-2020.
The yearly cost to attend UW - Parkside is $6,652 for great lakes region bachelor’s degree economics students whose families make $0-$30k.
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Notes and References
References
- The Integrated Postsecondary Education Data System (IPEDS) from the National Center for Education Statistics (NCES), a branch of the U.S. Department of Education (DOE) serves as the core of our data about colleges.
- Some other college data, including much of the graduate earnings data, comes from the U.S. Department of Education’s (College Scorecard).
- Information about the national average student loan default rate is from the U.S. Department of Education and refers to data about the 2016 borrower cohort tracking period for which the cohort default rate (CDR) was 10.1%.
Read more about our data sources and methodologies
Footnotes
- *Average salary, average net price, and average tuition and fees are for the top schools only.
- Some schools otherwise deserving of recognition may have been removed from this ranking in the event that new data identified post-publication warranted it, or at the request of the school.
Credits
- Credit for the banner image above goes to pixabay.
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