2022 Best Value Colleges for Economics (Income $30-$48k) in Illinois
When it comes to choosing a college, students have a lot of options - but not all of them are good. College Factual was founded, in part, to help students make the decision as to what would be the best school for them. Our “Best Value Economics Schools in Illinois For Those Making $30-$48k” ranking is part of that endeavor.
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.
For this year’s “Best Value Economics Schools in Illinois For Those Making $30-$48k” ranking, we looked at 27 colleges that offer a degree in economics. Not only do the schools that top this list have excellent economics programs, but they also cost less that schools of similar quality.
When determining these rankings, we looked at things such as overall quality of the economics program at the school and the cost to attend the school once aid has been awarded. Check out our ranking methodology for more information.
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Best Value Economics Schools in Illinois For Those Making $30-$48k
The following schools top our list of the Best Best Value Economics Schools in Illinois For Those Making $30-$48k.
Top 25 Best Value Colleges for Economics (Income $30-$48k) in Illinois
You’ll be in good company if you decide to attend Northwestern University. It ranked #1 on our 2022 Best Value Economics Schools in Illinois For Those Making $30-$48k list. Located in Evanston, Illinois, this large private not-for-profit school awarded 392 degrees to qualified ’s economics students in 2019-2020.
Northwestern did well in our major quality rankings, too. It placed #2 on our “Best Economics Schools in Illinois” list. The estimated yearly cost for Northwestern is $3,995 for illinois economics students whose families make $30-$48k.
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%. Students who start out at the school are likely to stick around. The freshman retention rate is 97%. 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.
You’ll join some of the best and brightest minds around if you attend University of Chicago. The school came in at #2 for the Best Value Economics Schools in Illinois For Those Making $30-$48k. University of Chicago is a fairly large school located in Chicago, Illinois that handed out 525 ’s economics degrees in 2019-2020.
In addition to being on our illinois economics students whose families make $30-$48k list, UChicago has also earned the #1 rank in our “Best Economics Schools in Illinois” ranking. It costs about $2,800 for Illinois Economics students whose families make $30-$48k per year to attend University of Chicago.
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%. The school has an excellent freshman retention rate of 100%, which means students like the school well enough to return for a second year. With a student-to-faculty ratio of 5 to 1, it’s easy to see that the school is committed to helping their undergraduates succeed.
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 in Illinois For Those Making $30-$48k. This large school is located in Champaign, Illinois, and it awarded 581 ’s economics degrees in 2019-2020.
UIUC also made our “Best Economics Schools in Illinois” list, coming in at #3. The yearly cost to attend UIUC is $8,464 for illinois economics students whose families make $30-$48k.
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 join some of the best and brightest minds around if you attend University of Illinois at Springfield. The school came in at #4 for the Best Value Economics Schools in Illinois For Those Making $30-$48k. Located in Springfield, Illinois, this small public school handed out 4 degrees to qualified ’s economics students in 2019-2020.
In addition to being on our illinois economics students whose families make $30-$48k list, UIS has also earned the #13 rank in our “Best Economics Schools in Illinois” ranking. It costs about $8,323 for illinois economics students whose families make $30-$48k per year to attend University of Illinois at Springfield.
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 in Illinois For Those Making $30-$48k list. This large school is located in Chicago, Illinois, and it awarded 128 ’s economics degrees in 2019-2020.
UIC did well in our major quality rankings, too. It placed #8 on our “Best Economics Schools in Illinois” list. The yearly cost to attend University of Illinois at Chicago is $11,185 for Illinois Economics students whose families make $30-$48k.
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%.
Read more about Economics at University of Illinois at Chicago
Southern Illinois University Edwardsville landed the #6 spot on the 2022 Best Value Economics Schools in Illinois For Those Making $30-$48k ranking. Southern Illinois University Edwardsville is a public institution located in Edwardsville, Illinois. The school has a fairly large population, and it awarded 9 ’s degrees in 2019-2020.
SIUE also made our “Best Economics Schools in Illinois” list, coming in at #18. The yearly cost to attend SIUE is $9,938 for illinois economics students whose families make $30-$48k.
Read full report on Economics at Southern Illinois University Edwardsville
Eastern Illinois University landed the #7 spot on the 2022 Best Value Economics Schools in Illinois For Those Making $30-$48k ranking. Located in Charleston, Illinois, this medium-sized public school awarded 14 diplomas to qualified ’s economics students in 2019-2020.
EIU did well in our major quality rankings, too. It placed #21 on our “Best Economics Schools in Illinois” list. It costs about $11,316 for illinois economics students whose families make $30-$48k per year to attend EIU.
Knox College ranked #8 on this year’s Best Value Economics Schools in Illinois For Those Making $30-$48k list. This small school is located in Galesburg, Illinois, and it awarded 18 ’s economics degrees in 2019-2020.
As a testament to the quality of education offered at Knox, the school also landed the #12 spot in our “Best Economics Schools in Illinois” ranking. The yearly cost to attend Knox is $19,186 for Illinois 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 in Illinois For Those Making $30-$48k list. Located in Dekalb, Illinois, this fairly large public school awarded 30 diplomas to qualified ’s economics students in 2019-2020.
NIU not only placed well in this ranking. It is also #19 on our “Best Economics Schools in Illinois” list. The yearly cost to attend NIU is $15,861 for Illinois Economics students whose families make $30-$48k.
Read full report on Economics at Northern Illinois University
Wheaton College Illinois landed the #10 spot on the 2022 Best Value Economics Schools in Illinois For Those Making $30-$48k ranking. This small school is located in Wheaton, Illinois, and it awarded 40 ’s economics degrees in 2019-2020.
Wheaton College Illinois also took the #4 spot in our “Best Economics Schools in Illinois” ranking. The estimated yearly cost for Wheaton College Illinois is $16,212 for illinois 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. Students who start out at the school are likely to stick around. The freshman retention rate is 90%. 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 ranking of #11, Illinois College did quite well on the 2022 Best Value Economics Schools in Illinois For Those Making $30-$48k list. Illinois College is a small school located in Jacksonville, Illinois that handed out 14 ’s economics degrees in 2019-2020.
Illinois College also took the #20 spot in our “Best Economics Schools in Illinois” ranking. The estimated yearly cost for Illinois College is $12,454 for illinois economics students whose families make $30-$48k.
Lake Forest College landed the #12 spot on the 2022 Best Value Economics Schools in Illinois For Those Making $30-$48k ranking. Lake Forest is a small school located in Lake Forest, Illinois that handed out 21 ’s economics degrees in 2019-2020.
Lake Forest also took the #6 spot in our “Best Economics Schools in Illinois” ranking. It costs about $19,152 for Illinois Economics students whose families make $30-$48k 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%.
Illinois State University did quite well in the 2022 Best Value Economics Schools in Illinois For Those Making $30-$48k ranking, coming in at #13. Normal, Illinois is the setting for this large institution of higher learning. The public school handed out ’s economics degrees to 60 students in 2019-2020.
Illinois State did well in our major quality rankings, too. It placed #10 on our “Best Economics Schools in Illinois” list. The estimated yearly cost for Illinois State University is $14,999 for Illinois 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%.
Southern Illinois University Carbondale came in at #13 in this year’s edition of the Best Value Economics Schools in Illinois For Those Making $30-$48k ranking. SIUC is a fairly large school located in Carbondale, Illinois that handed out 23 ’s economics degrees in 2019-2020.
SIUC also made our “Best Economics Schools in Illinois” list, coming in at #23. It costs about $14,306 for illinois economics students whose families make $30-$48k per year to attend Southern Illinois University Carbondale.
Read full report on Economics at Southern Illinois University Carbondale
Western Illinois University did quite well in the 2022 Best Value Economics Schools in Illinois For Those Making $30-$48k ranking, coming in at #15. WIU is located in Macomb, Illinois and, has a medium-sized student population. In 2019-2020, this school awarded 18 ’s economics degrees to qualified students.
WIU also made our “Best Economics Schools in Illinois” list, coming in at #24. The estimated yearly cost for WIU is $14,526 for Illinois Economics students whose families make $30-$48k.
Dominican University came in at #16 in this year’s edition of the Best Value Economics Schools in Illinois For Those Making $30-$48k ranking. Dominican University is a small school located in River Forest, Illinois that handed out 6 ’s economics degrees in 2019-2020.
In addition to being on our illinois economics students whose families make $30-$48k list, Dominican U has also earned the #14 rank in our “Best Economics Schools in Illinois” ranking. The estimated yearly cost for Dominican U is $17,586 for illinois 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 in Illinois For Those Making $30-$48k list. Northeastern Illinois University is located in Chicago, Illinois and, has a medium-sized student population. In 2019-2020, this school awarded 17 ’s economics degrees to qualified students.
Northeastern Illinois University also made our “Best Economics Schools in Illinois” list, coming in at #25. The estimated yearly cost for Northeastern Illinois University is $15,513 for Illinois Economics students whose families make $30-$48k.
Read more about Economics at Northeastern Illinois University
Illinois Wesleyan University landed the #18 spot on the 2022 Best Value Economics Schools in Illinois For Those Making $30-$48k ranking. Illinois Wesleyan is a small private not-for-profit school situated in Bloomington, Illinois. It awarded 14 ’s economics degrees in 2019-2020.
Illinois Wesleyan also took the #5 spot in our “Best Economics Schools in Illinois” ranking. The yearly cost to attend Illinois Wesleyan is $19,857 for illinois economics students whose families make $30-$48k.
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%. With a freshman retention rate of 87%, the school does an excellent job of retaining its students.
With a ranking of #19, Olivet Nazarene University did quite well on the 2022 Best Value Economics Schools in Illinois For Those Making $30-$48k list. Olivet Nazarene University is located in Bourbonnais, Illinois and, has a small student population. In 2019-2020, this school awarded 33 ’s economics degrees to qualified students.
Olivet Nazarene also made our “Best Economics Schools in Illinois” list, coming in at #16. The estimated yearly cost for Olivet Nazarene University is $15,390 for illinois 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 ranked #20 on this year’s Best Value Economics Schools in Illinois For Those Making $30-$48k list. Elmhurst is a small school located in Elmhurst, Illinois that handed out 11 ’s economics degrees in 2019-2020.
In addition to being on our illinois economics students whose families make $30-$48k list, Elmhurst has also earned the #15 rank in our “Best Economics Schools in Illinois” ranking. It costs about $17,837 for Illinois Economics students whose families make $30-$48k per year to attend Elmhurst University.
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 #21, Bradley University did quite well on the 2022 Best Value Economics Schools in Illinois For Those Making $30-$48k list. Located in Peoria, Illinois, this medium-sized private not-for-profit school awarded 5 degrees to qualified ’s economics students in 2019-2020.
Bradley also took the #11 spot in our “Best Economics Schools in Illinois” ranking. The estimated yearly cost for Bradley is $18,232 for illinois economics students whose families make $30-$48k.
With a freshman retention rate of 86%, the school does an excellent job of retaining its students. 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%.
Augustana College landed the #22 spot on the 2022 Best Value Economics Schools in Illinois For Those Making $30-$48k ranking. Augustana College is located in Rock Island, Illinois and, has a small student population. In 2019-2020, this school awarded 8 ’s economics degrees to qualified students.
Augustana also made our “Best Economics Schools in Illinois” list, coming in at #7. The yearly cost to attend Augustana College is $16,249 for Illinois 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%. The school has an excellent freshman retention rate of 85%, which means students like the school well enough to return for a second year.
McKendree University ranked #23 on this year’s Best Value Economics Schools 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 ’s economics degrees to 17 students in 2019-2020.
As a testament to the quality of education offered at McKendree, the school also landed the #22 spot in our “Best Economics Schools in Illinois” ranking. The estimated yearly cost for McKendree University is $16,659 for Illinois Economics students whose families make $30-$48k.
With a ranking of #24, North Central College did quite well on the 2022 Best Value Economics Schools in Illinois For Those Making $30-$48k list. Located in Naperville, Illinois, this small private not-for-profit school handed out 31 diplomas to qualified ’s economics students in 2019-2020.
North Central also took the #9 spot in our “Best Economics Schools in Illinois” ranking. It costs about $20,128 for illinois economics students whose families make $30-$48k 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%.
With a ranking of #25, Roosevelt University did quite well on the 2022 Best Value Economics Schools in Illinois For Those Making $30-$48k list. Roosevelt University is a small private not-for-profit school situated in Chicago, Illinois. It awarded 6 ’s economics degrees in 2019-2020.
It costs about $20,330 for illinois economics students whose families make $30-$48k per year to attend Roosevelt.
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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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