2022 Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $0-$30k
With all of the options students have for higher education today, it can be tough to choose which direction to take. At College Factual, we’re committed to helping you make that decision by providing information such as that found in our “Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $0-$30k” ranking.
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 Illinois, there were 2,106 economics graduates with average earnings and debt of $49,350 and $22,044 respectively. At the bachelor’s degree level specifically, there were 1,749 economics graduates with average earnings and debt of $38,319 and $24,183 respectively.
This year’s “Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $0-$30k” ranking analyzed 27 colleges that offered a degree in economics. This ranking identifies schools with high-quality economics programs that also have a lower cost than schools of similar quality.
To come up with these rankings, we looked at factors such as the cost to attend the school after aid is awarded and overall quality of the economics program at the school. For more information, check out our ranking methodology.
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Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $0-$30k
The colleges and universities below are the best for illinois bachelor’s degree economics students whose families make $0-$30k.
Top 25 Best Value Bachelor’s Degree Colleges for Economics (Income $0-$30k) in Illinois
Out of the 27 schools in the Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $0-$30k that were part of this year’s ranking, University of Chicago landed the #1 spot on the list. University of Chicago is a private not-for-profit institution located in Chicago, Illinois. The school has a fairly large population, and it awarded 423 bachelors’s degrees in 2019-2020.
UChicago did well in our major quality rankings, too. It placed #1 on our “Best Economics Bachelor’s Degree Schools in Illinois” list. The yearly cost to attend UChicago is $2,712 for illinois 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 100%. The student-to-faculty ratio of 5 to 1 is a sign that students will have more opportunities to engage with their professors one-on-one. The school has an impressive student loan default rate. It’s only 0.6%, which is much lower than the national rate of 10.1%.
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 Illinois For Those Making $0-$30k list. Northwestern University is located in Evanston, Illinois and, has a large student population. In 2019-2020, this school awarded 338 bachelors’s economics degrees to qualified students.
Northwestern also took the #2 spot in our “Best Economics Bachelor’s Degree Schools in Illinois” ranking. The yearly cost to attend Northwestern University is $1,866 for Illinois Bachelor’s Degree Economics students whose families make $0-$30k.
The school has an excellent freshman retention rate of 97%, which means students like the school well enough to return for a second year. 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%. The impressive student-to-faculty ratio of 6 to 1 means that students may have more opportunities to work more closely with their professors than they would at other schools.
You’ll join some of the best and brightest minds around if you attend University of Illinois at Urbana-Champaign. The school came in at #3 for the Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $0-$30k. UIUC is a large school located in Champaign, Illinois that handed out 490 bachelors’s economics degrees in 2019-2020.
UIUC not only placed well in this ranking. It is also #3 on our “Best Economics Bachelor’s Degree Schools in Illinois” list. The estimated yearly cost for UIUC is $5,477 for illinois bachelor’s degree economics students whose families make $0-$30k.
The low student loan default rate of 2.4% 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%. With a freshman retention rate of 94%, the school does an excellent job of retaining its students.
Read full report on Economics at University of Illinois at Urbana-Champaign
You’ll be in good company if you decide to attend University of Illinois at Chicago. It ranked #4 on our 2022 Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $0-$30k list. Located in Chicago, Illinois, this large public school handed out 99 degrees to qualified bachelors’s economics students in 2019-2020.
UIC also made our “Best Economics Bachelor’s Degree Schools in Illinois” list, coming in at #7. The yearly cost to attend UIC is $10,648 for illinois bachelor’s degree economics students whose families make $0-$30k.
The school has an impressive student loan default rate. It’s only 3.4%, which is much lower than the national rate of 10.1%.
Out of the 27 schools in the Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $0-$30k that were part of this year’s ranking, Southern Illinois University Edwardsville landed the #5 spot on the list. SIUE is located in Edwardsville, Illinois and, has a fairly large student population. In 2019-2020, this school awarded 9 bachelors’s economics degrees to qualified students.
SIUE also made our “Best Economics Bachelor’s Degree Schools in Illinois” list, coming in at #19. The yearly cost to attend Southern Illinois University Edwardsville is $8,055 for Illinois Bachelor’s Degree Economics students whose families make $0-$30k.
Read full report on Economics at Southern Illinois University Edwardsville
Wheaton College Illinois landed the #6 spot on the 2022 Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $0-$30k ranking. Wheaton College Illinois is a small school located in Wheaton, Illinois that handed out 40 bachelors’s economics degrees in 2019-2020.
Wheaton College Illinois also made our “Best Economics Bachelor’s Degree Schools in Illinois” list, coming in at #4. The estimated yearly cost for Wheaton College Illinois is $18,440 for illinois bachelor’s degree economics students whose families make $0-$30k.
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%. With a student-to-faculty ratio of 10 to 1, it’s easy to see that the school is committed to helping their undergraduates succeed. The school has an excellent freshman retention rate of 90%, which means students like the school well enough to return for a second year.
University of Illinois at Springfield came in at #7 in this year’s edition of the Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $0-$30k ranking. Springfield, Illinois is the setting for this small institution of higher learning. The public school handed out bachelors’s economics degrees to 4 students in 2019-2020.
UIS not only placed well in this ranking. It is also #13 on our “Best Economics Bachelor’s Degree Schools in Illinois” list. The estimated yearly cost for UIS is $9,771 for illinois bachelor’s degree economics students whose families make $0-$30k.
Northern Illinois University ranked #8 on this year’s Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $0-$30k list. This fairly large school is located in Dekalb, Illinois, and it awarded 24 bachelors’s economics degrees in 2019-2020.
NIU not only placed well in this ranking. It is also #18 on our “Best Economics Bachelor’s Degree Schools in Illinois” list. The yearly cost to attend Northern Illinois University is $15,281 for Illinois Bachelor’s Degree Economics students whose families make $0-$30k.
Eastern Illinois University came in at #9 in this year’s edition of the Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $0-$30k ranking. Eastern Illinois University is located in Charleston, Illinois and, has a medium-sized student population. In 2019-2020, this school awarded 3 bachelors’s economics degrees to qualified students.
In addition to being on our illinois bachelor’s degree economics students whose families make $0-$30k list, EIU has also earned the #21 rank in our “Best Economics Bachelor’s Degree Schools in Illinois” ranking. The yearly cost to attend EIU is $12,350 for illinois bachelor’s degree economics students whose families make $0-$30k.
Illinois State University landed the #10 spot on the 2022 Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $0-$30k ranking. Illinois State University is located in Normal, Illinois and, has a large student population. In 2019-2020, this school awarded 46 bachelors’s economics degrees to qualified students.
Illinois State also took the #10 spot in our “Best Economics Bachelor’s Degree Schools in Illinois” ranking. The yearly cost to attend Illinois State University is $14,470 for Illinois Bachelor’s Degree Economics students whose families make $0-$30k.
The school has an impressive student loan default rate. It’s only 4.4%, which is much lower than the national rate of 10.1%.
With a ranking of #11, Western Illinois University did quite well on the 2022 Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $0-$30k list. This medium-sized school is located in Macomb, Illinois, and it awarded 8 bachelors’s economics degrees in 2019-2020.
As a testament to the quality of education offered at WIU, the school also landed the #17 spot in our “Best Economics Bachelor’s Degree Schools in Illinois” ranking. The yearly cost to attend WIU is $13,942 for illinois bachelor’s degree economics students whose families make $0-$30k.
Illinois College came in at #12 in this year’s edition of the Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $0-$30k ranking. Located in Jacksonville, Illinois, this small private not-for-profit school awarded 14 diplomas to qualified bachelors’s economics students in 2019-2020.
As a testament to the quality of education offered at Illinois College, the school also landed the #20 spot in our “Best Economics Bachelor’s Degree Schools in Illinois” ranking. The estimated yearly cost for Illinois College is $11,376 for illinois bachelor’s degree economics students whose families make $0-$30k.
Lake Forest College did quite well in the 2022 Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $0-$30k ranking, coming in at #13. This small school is located in Lake Forest, Illinois, and it awarded 21 bachelors’s economics degrees in 2019-2020.
Lake Forest also made our “Best Economics Bachelor’s Degree Schools in Illinois” list, coming in at #6. It costs about $18,192 for illinois bachelor’s degree economics students whose families make $0-$30k per year to attend Lake Forest College.
The low student loan default rate of 2.5% 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%.
Southern Illinois University Carbondale landed the #14 spot on the 2022 Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $0-$30k ranking. Southern Illinois University Carbondale is a fairly large school located in Carbondale, Illinois that handed out 13 bachelors’s economics degrees in 2019-2020.
SIUC also took the #24 spot in our “Best Economics Bachelor’s Degree Schools in Illinois” ranking. The estimated yearly cost for Southern Illinois University Carbondale is $13,658 for Illinois Bachelor’s Degree Economics students whose families make $0-$30k.
Illinois Wesleyan University did quite well in the 2022 Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $0-$30k ranking, coming in at #15. Illinois Wesleyan is a private not-for-profit institution located in Bloomington, Illinois. The school has a small population, and it awarded 14 bachelors’s degrees in 2019-2020.
In addition to being on our illinois bachelor’s degree economics students whose families make $0-$30k list, Illinois Wesleyan has also earned the #5 rank in our “Best Economics Bachelor’s Degree Schools in Illinois” ranking. It costs about $18,570 for illinois bachelor’s degree economics students whose families make $0-$30k per year to attend Illinois Wesleyan University.
The low student loan default rate of 1.4% 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 school has an excellent freshman retention rate of 87%, which means students like the school well enough to return for a second year.
Knox College ranked #16 on this year’s Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $0-$30k list. Galesburg, Illinois is the setting for this small institution of higher learning. The private not-for-profit school handed out bachelors’s economics degrees to 18 students in 2019-2020.
Knox also made our “Best Economics Bachelor’s Degree Schools in Illinois” list, coming in at #12. It costs about $16,828 for Illinois Bachelor’s Degree Economics students whose families make $0-$30k per year to attend Knox College.
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. The student loan default rate at the school is 4.8%, which is quite low when compared to the national default rate of 10.1%.
With a ranking of #17, Elmhurst University did quite well on the 2022 Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $0-$30k list. Elmhurst University is a small school located in Elmhurst, Illinois that handed out 11 bachelors’s economics degrees in 2019-2020.
As a testament to the quality of education offered at Elmhurst, the school also landed the #15 spot in our “Best Economics Bachelor’s Degree Schools in Illinois” ranking. The estimated yearly cost for Elmhurst is $16,903 for illinois bachelor’s degree economics students whose families make $0-$30k.
The low student loan default rate of 3.0% 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%.
With a ranking of #18, Augustana College did quite well on the 2022 Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $0-$30k list. Augustana College is a small school located in Rock Island, Illinois that handed out 8 bachelors’s economics degrees in 2019-2020.
Augustana not only placed well in this ranking. It is also #8 on our “Best Economics Bachelor’s Degree Schools in Illinois” list. The estimated yearly cost for Augustana is $20,355 for Illinois Bachelor’s Degree Economics students whose families make $0-$30k.
With a freshman retention rate of 85%, the school does an excellent job of retaining its students. The school has an impressive student loan default rate. It’s only 3.4%, which is much lower than the national rate of 10.1%.
Bradley University ranked #19 on this year’s Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $0-$30k list. Peoria, Illinois is the setting for this medium-sized institution of higher learning. The private not-for-profit school handed out bachelors’s economics degrees to 5 students in 2019-2020.
Bradley did well in our major quality rankings, too. It placed #11 on our “Best Economics Bachelor’s Degree Schools in Illinois” list. It costs about $17,205 for illinois bachelor’s degree economics students whose families make $0-$30k per year to attend Bradley.
The school has an impressive student loan default rate. It’s only 2.5%, which is much lower than the national rate of 10.1%. With a freshman retention rate of 86%, the school does an excellent job of retaining its students.
Northeastern Illinois University came in at #20 in this year’s edition of the Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $0-$30k ranking. Located in Chicago, Illinois, this medium-sized public school awarded 17 degrees to qualified bachelors’s economics students in 2019-2020.
In addition to being on our illinois bachelor’s degree economics students whose families make $0-$30k list, Northeastern Illinois University has also earned the #25 rank in our “Best Economics Bachelor’s Degree Schools in Illinois” ranking. It costs about $14,816 for illinois bachelor’s degree economics students whose families make $0-$30k per year to attend Northeastern Illinois University.
Dominican University came in at #21 in this year’s edition of the Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $0-$30k ranking. Dominican U is located in River Forest, Illinois and, has a small student population. In 2019-2020, this school awarded 6 bachelors’s economics degrees to qualified students.
In addition to being on our illinois bachelor’s degree economics students whose families make $0-$30k list, Dominican U has also earned the #14 rank in our “Best Economics Bachelor’s Degree Schools in Illinois” ranking. The yearly cost to attend Dominican U is $17,060 for Illinois Bachelor’s Degree Economics students whose families make $0-$30k.
With a student-to-faculty ratio of 10 to 1, it’s easy to see that the school is committed to helping their undergraduates succeed.
Olivet Nazarene University ranked #22 on this year’s Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $0-$30k list. This small school is located in Bourbonnais, Illinois, and it awarded 33 bachelors’s economics degrees in 2019-2020.
Olivet Nazarene not only placed well in this ranking. It is also #16 on our “Best Economics Bachelor’s Degree Schools in Illinois” list. It costs about $15,806 for illinois bachelor’s degree economics students whose families make $0-$30k per year to attend Olivet Nazarene University.
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%.
McKendree University did quite well in the 2022 Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $0-$30k ranking, coming in at #23. This small school is located in Lebanon, Illinois, and it awarded 17 bachelors’s economics degrees in 2019-2020.
In addition to being on our illinois bachelor’s degree economics students whose families make $0-$30k list, McKendree has also earned the #23 rank in our “Best Economics Bachelor’s Degree Schools in Illinois” ranking. It costs about $15,184 for Illinois Bachelor’s Degree Economics students whose families make $0-$30k per year to attend McKendree University.
North Central College came in at #24 in this year’s edition of the Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $0-$30k ranking. North Central College is a small school located in Naperville, Illinois that handed out 31 bachelors’s economics degrees in 2019-2020.
North Central not only placed well in this ranking. It is also #9 on our “Best Economics Bachelor’s Degree Schools in Illinois” list. It costs about $18,889 for illinois bachelor’s degree economics students whose families make $0-$30k per year to attend North Central.
The low student loan default rate of 3.9% 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%.
Roosevelt University landed the #25 spot on the 2022 Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $0-$30k ranking. Roosevelt is a private not-for-profit institution located in Chicago, Illinois. The school has a small population, and it awarded 5 bachelors’s degrees in 2019-2020.
The yearly cost to attend Roosevelt University is $20,398 for illinois 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.
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