2022 Best Value Bachelor’s Degree Colleges for Economics (Income $30-$48k) in Illinois
Students have lots of options to chooose from today when trying to decide which college to attend. Our mission at College Factual is to arm you with as much information as we can to help you make that decision. Our “Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $30-$48k” ranking is one tool we have developed to help in this regard.
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 $30-$48k” 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. See our ranking methodology to learn more.
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Since picking the right college can be one of the most important decisions of your life, we’ve developed the “Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $30-$48k” ranking, along with many other major-related rankings, to help you make that decision.
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Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $30-$48k
The colleges and universities below are the best for illinois bachelor’s degree economics students whose families make $30-$48k.
Top 25 Best Value Bachelor’s Degree Colleges for Economics (Income $30-$48k) in Illinois
Out of the 27 schools in the Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $30-$48k that were part of this year’s ranking, Northwestern University landed the #1 spot on the list. Northwestern is a large private not-for-profit school situated in Evanston, Illinois. It awarded 338 bachelors’s economics degrees in 2019-2020.
In addition to being on our illinois bachelor’s degree economics students whose families make $30-$48k list, Northwestern has also earned the #2 rank in our “Best Economics Bachelor’s Degree Schools in Illinois” ranking. The yearly cost to attend Northwestern is $3,995 for illinois bachelor’s degree economics students whose families make $30-$48k.
Since the school has a student-to-faculty ratio of 6 to 1, those pursuing a degree will have more opportunities to interact with their professors. Students who start out at the school are likely to stick around. The freshman retention rate is 97%. 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 be in good company if you decide to attend University of Chicago. It ranked #2 on our 2022 Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $30-$48k list. University of Chicago is located in Chicago, Illinois and, has a fairly large student population. In 2019-2020, this school awarded 423 bachelors’s economics degrees to qualified students.
As a testament to the quality of education offered at UChicago, the school also landed the #1 spot in our “Best Economics Bachelor’s Degree Schools in Illinois” ranking. The estimated yearly cost for UChicago is $2,800 for Illinois Bachelor’s Degree Economics students whose families make $30-$48k.
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%. 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. Students who start out at the school are likely to stick around. The freshman retention rate is 100%.
You’ll be in good company if you decide to attend University of Illinois at Urbana-Champaign. It ranked #3 on our 2022 Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $30-$48k list. UIUC is located in Champaign, Illinois and, has a large student population. In 2019-2020, this school awarded 490 bachelors’s economics degrees to qualified students.
UIUC did well in our major quality rankings, too. It placed #3 on our “Best Economics Bachelor’s Degree Schools in Illinois” list. It costs about $8,464 for Illinois Bachelor’s Degree Economics students whose families make $30-$48k per year to attend UIUC.
The school has an impressive student loan default rate. It’s only 2.4%, which is much lower than the national rate of 10.1%. Students who start out at the school are likely to stick around. The freshman retention rate is 94%.
Read more about Economics at University of Illinois at Urbana-Champaign
You’ll be in good company if you decide to attend University of Illinois at Springfield. It ranked #4 on our 2022 Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $30-$48k list. 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.
In addition to being on our illinois bachelor’s degree economics students whose families make $30-$48k list, UIS has also earned the #13 rank in our “Best Economics Bachelor’s Degree Schools in Illinois” ranking. It costs about $8,323 for illinois bachelor’s degree economics students whose families make $30-$48k per year to attend UIS.
You’ll be in good company if you decide to attend University of Illinois at Chicago. It ranked #5 on our 2022 Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $30-$48k list. University of Illinois at Chicago is a large public school situated in Chicago, Illinois. It awarded 99 bachelors’s economics degrees in 2019-2020.
UIC also took the #7 spot in our “Best Economics Bachelor’s Degree Schools in Illinois” ranking. The yearly cost to attend UIC is $11,185 for illinois bachelor’s degree economics students whose families make $30-$48k.
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%.
Read full report on Economics at University of Illinois at Chicago
With a ranking of #6, Southern Illinois University Edwardsville did quite well on the 2022 Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $30-$48k list. Southern Illinois University Edwardsville is a public institution located in Edwardsville, Illinois. The school has a fairly large population, and it awarded 9 bachelors’s degrees in 2019-2020.
As a testament to the quality of education offered at SIUE, the school also landed the #19 spot in our “Best Economics Bachelor’s Degree Schools in Illinois” ranking. It costs about $9,938 for Illinois Bachelor’s Degree Economics students whose families make $30-$48k per year to attend Southern Illinois University Edwardsville.
Full Southern Illinois University Edwardsville Economics Report
Eastern Illinois University came in at #7 in this year’s edition of the Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $30-$48k ranking. EIU is a medium-sized school located in Charleston, Illinois that handed out 3 bachelors’s economics degrees in 2019-2020.
As a testament to the quality of education offered at EIU, the school also landed the #21 spot in our “Best Economics Bachelor’s Degree Schools in Illinois” ranking. It costs about $11,316 for illinois bachelor’s degree economics students whose families make $30-$48k per year to attend Eastern Illinois University.
Knox College came in at #8 in this year’s edition of the Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $30-$48k ranking. Knox is a private not-for-profit institution located in Galesburg, Illinois. The school has a small population, and it awarded 18 bachelors’s degrees in 2019-2020.
Knox did well in our major quality rankings, too. It placed #12 on our “Best Economics Bachelor’s Degree Schools in Illinois” list. The estimated yearly cost for Knox is $19,186 for Illinois Bachelor’s Degree Economics students whose families make $30-$48k.
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%. The impressive student-to-faculty ratio of 10 to 1 means that students may have more opportunities to work more closely with their professors than they would at other schools.
Northern Illinois University ranked #9 on this year’s Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $30-$48k list. Northern Illinois University is a fairly large school located in Dekalb, Illinois that handed out 24 bachelors’s economics degrees in 2019-2020.
NIU did well in our major quality rankings, too. It placed #18 on our “Best Economics Bachelor’s Degree Schools in Illinois” list. It costs about $15,861 for Illinois Bachelor’s Degree Economics students whose families make $30-$48k per year to attend NIU.
Western Illinois University did quite well in the 2022 Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $30-$48k ranking, coming in at #10. Located in Macomb, Illinois, this medium-sized public school awarded 8 degrees to qualified bachelors’s economics students 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. It costs about $14,526 for illinois bachelor’s degree economics students whose families make $30-$48k per year to attend WIU.
Wheaton College Illinois landed the #11 spot on the 2022 Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $30-$48k ranking. Wheaton College Illinois is a small private not-for-profit school situated in Wheaton, Illinois. It awarded 40 bachelors’s economics degrees in 2019-2020.
As a testament to the quality of education offered at Wheaton College Illinois, the school also landed the #4 spot in our “Best Economics Bachelor’s Degree Schools in Illinois” ranking. The yearly cost to attend Wheaton College Illinois is $16,212 for illinois bachelor’s degree economics students whose families make $30-$48k.
The school has an excellent freshman retention rate of 90%, which means students like the school well enough to return for a second year. 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 0.7%, which is quite low when compared to the national default rate of 10.1%.
Illinois State University ranked #12 on this year’s Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $30-$48k list. Normal, Illinois is the setting for this large institution of higher learning. The public school handed out bachelors’s economics degrees to 46 students in 2019-2020.
Illinois State also made our “Best Economics Bachelor’s Degree Schools in Illinois” list, coming in at #10. The estimated yearly cost for Illinois State is $14,999 for illinois bachelor’s degree economics students whose families make $30-$48k.
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%.
Illinois College landed the #13 spot on the 2022 Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $30-$48k ranking. Illinois College is a private not-for-profit institution located in Jacksonville, Illinois. The school has a small population, and it awarded 14 bachelors’s degrees in 2019-2020.
Illinois College did well in our major quality rankings, too. It placed #20 on our “Best Economics Bachelor’s Degree Schools in Illinois” list. The yearly cost to attend Illinois College is $12,454 for illinois bachelor’s degree economics students whose families make $30-$48k.
Lake Forest College ranked #14 on this year’s Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $30-$48k list. This small school is located in Lake Forest, Illinois, and it awarded 21 bachelors’s economics degrees in 2019-2020.
Lake Forest did well in our major quality rankings, too. It placed #6 on our “Best Economics Bachelor’s Degree Schools in Illinois” list. It costs about $19,152 for Illinois Bachelor’s Degree Economics students whose families make $30-$48k per year to attend Lake Forest.
The student loan default rate at the school is 2.5%, which is quite low when compared to the national default rate of 10.1%.
Southern Illinois University Carbondale ranked #15 on this year’s Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $30-$48k list. SIUC is a public institution located in Carbondale, Illinois. The school has a fairly large population, and it awarded 13 bachelors’s degrees in 2019-2020.
SIUC not only placed well in this ranking. It is also #24 on our “Best Economics Bachelor’s Degree Schools in Illinois” list. It costs about $14,306 for illinois bachelor’s degree economics students whose families make $30-$48k per year to attend Southern Illinois University Carbondale.
With a ranking of #16, Dominican University did quite well on the 2022 Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $30-$48k list. Dominican U is a private not-for-profit institution located in River Forest, Illinois. The school has a small population, and it awarded 6 bachelors’s degrees in 2019-2020.
As a testament to the quality of education offered at Dominican U, the school also landed the #14 spot in our “Best Economics Bachelor’s Degree Schools in Illinois” ranking. The yearly cost to attend Dominican University is $17,586 for Illinois Bachelor’s Degree Economics students whose families make $30-$48k.
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, Northeastern Illinois University did quite well on the 2022 Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $30-$48k list. This medium-sized school is located in Chicago, Illinois, and it awarded 17 bachelors’s economics degrees in 2019-2020.
Northeastern Illinois University did well in our major quality rankings, too. It placed #25 on our “Best Economics Bachelor’s Degree Schools in Illinois” list. The estimated yearly cost for Northeastern Illinois University is $15,513 for illinois bachelor’s degree economics students whose families make $30-$48k.
Read full report on Economics at Northeastern Illinois University
Illinois Wesleyan University ranked #18 on this year’s Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $30-$48k list. Bloomington, Illinois is the setting for this small institution of higher learning. The private not-for-profit school handed out bachelors’s economics degrees to 14 students in 2019-2020.
As a testament to the quality of education offered at Illinois Wesleyan, the school also landed the #5 spot in our “Best Economics Bachelor’s Degree Schools in Illinois” ranking. The yearly cost to attend Illinois Wesleyan University is $19,857 for illinois bachelor’s degree economics students whose families make $30-$48k.
With a freshman retention rate of 87%, the school does an excellent job of retaining its students. 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%.
Olivet Nazarene University came in at #19 in this year’s edition of the Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $30-$48k ranking. This small school is located in Bourbonnais, Illinois, and it awarded 33 bachelors’s economics degrees in 2019-2020.
Olivet Nazarene also took the #16 spot in our “Best Economics Bachelor’s Degree Schools in Illinois” ranking. The yearly cost to attend Olivet Nazarene University is $15,390 for Illinois Bachelor’s Degree Economics students whose families make $30-$48k.
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%.
Elmhurst University did quite well in the 2022 Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $30-$48k ranking, coming in at #20. This small school is located in Elmhurst, Illinois, and it awarded 11 bachelors’s economics degrees in 2019-2020.
Elmhurst not only placed well in this ranking. It is also #15 on our “Best Economics Bachelor’s Degree Schools in Illinois” list. The yearly cost to attend Elmhurst University is $17,837 for illinois bachelor’s degree economics students whose families make $30-$48k.
The student loan default rate at the school is 3.0%, which is quite low when compared to the national default rate of 10.1%.
Bradley University did quite well in the 2022 Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $30-$48k ranking, coming in at #21. 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. The yearly cost to attend Bradley is $18,232 for illinois bachelor’s degree economics students whose families make $30-$48k.
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%. Students who start out at the school are likely to stick around. The freshman retention rate is 86%.
Augustana College came in at #22 in this year’s edition of the Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $30-$48k ranking. Augustana College is a private not-for-profit institution located in Rock Island, Illinois. The school has a small population, and it awarded 8 bachelors’s 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. It costs about $16,249 for illinois bachelor’s degree economics students whose families make $30-$48k per year to attend Augustana.
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%.
McKendree University ranked #23 on this year’s Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $30-$48k list. Lebanon, Illinois is the setting for this small institution of higher learning. The private not-for-profit school handed out bachelors’s economics degrees to 17 students in 2019-2020.
McKendree also made our “Best Economics Bachelor’s Degree Schools in Illinois” list, coming in at #23. The estimated yearly cost for McKendree University is $16,659 for Illinois Bachelor’s Degree Economics students whose families make $30-$48k.
North Central College ranked #24 on this year’s Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $30-$48k list. North Central College is a private not-for-profit institution located in Naperville, Illinois. The school has a small population, and it awarded 31 bachelors’s degrees in 2019-2020.
North Central also took the #9 spot in our “Best Economics Bachelor’s Degree Schools in Illinois” ranking. The yearly cost to attend North Central is $20,128 for illinois bachelor’s degree economics students whose families make $30-$48k.
The student loan default rate at the school is 3.9%, which is quite low when compared to the national default rate of 10.1%.
With a ranking of #25, Roosevelt University did quite well on the 2022 Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $30-$48k list. This small school is located in Chicago, Illinois, and it awarded 5 bachelors’s economics degrees in 2019-2020.
The estimated yearly cost for Roosevelt is $20,330 for Illinois Bachelor’s Degree Economics students whose families make $30-$48k.
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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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- Credit for the banner image above goes to pixabay.
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