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2022 Best Value Economics Schools for a Master’s in Illinois For Those Getting Aid

11 Ranked Colleges
256 Degrees Awarded
$27,700 Avg Grad Tuition & Fees*
Best Value Economics Schools for a Master's in Illinois For Those Getting Aid

It’s not easy to decide which college to attend when there so many options available for students. One of our goals at College Factual is to give you as much information as we can - such as our “Best Value Economics Schools for a Master’s in Illinois For Those Getting Aid” ranking - to help you make that 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 Illinois, there were 2,106 economics graduates with average earnings and debt of $49,350 and $22,044 respectively. At the master’s degree level specifically, there were 256 economics graduates with average earnings and debt of $57,267 and $46,814 respectively.

This year’s “Best Value Economics Schools for a Master’s in Illinois For Those Getting Aid” ranking analyzed 11 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.

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. For more information, check out our ranking methodology.

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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 Master’s in Illinois For Those Getting Aid” ranking, along with many other major-related rankings, to help you make that decision.

In addition to College Factual’s rankings, you may want to take a look at College Combat, our unique tool that lets you pit your favorite schools head-to-head and compare how they rate on factors that most interest 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 Master’s in Illinois For Those Getting Aid

The following schools top our list of the Best Best Value Economics Schools for a Master’s in Illinois For Those Getting Aid.

Top 11 Best Value Master’s Degree Colleges for Economics in Illinois (With Aid)

#1

University of Illinois at Urbana-Champaign

Champaign, Illinois
#3 in overall quality
$30,083 Avg Grad Tuition & Fees

Out of the 11 schools in the Best Value Economics Schools for a Master’s in Illinois For Those Getting Aid that were part of this year’s ranking, University of Illinois at Urbana-Champaign landed the #1 spot on the list. Located in Champaign, Illinois, this large public school handed out 76 diplomas to qualified masters’s economics students in 2019-2020.

As a testament to the quality of education offered at UIUC, the school also landed the #3 spot in our “Best Economics Master’s Degree Schools in Illinois” ranking. Average graduate tuition and fees at University of Illinois at Urbana-Champaign are $30,083, but some majors have different tuition rates.

Read full report on Economics at UIUC

#2

University of Illinois at Chicago

Chicago, Illinois
#4 in overall quality
$27,036 Avg Grad Tuition & Fees

Out of the 11 schools in the Best Value Economics Schools for a Master’s in Illinois For Those Getting Aid that were part of this year’s ranking, University of Illinois at Chicago landed the #2 spot on the list. UIC is a public institution located in Chicago, Illinois. The school has a large population, and it awarded 14 masters’s degrees in 2019-2020.

In addition to being on our illinois master’s degree economics students with aid list, UIC has also earned the #4 rank in our “Best Economics Master’s Degree Schools in Illinois” ranking. Although you might pay more or less depending on your area of study, average graduate tuition and fees at UIC are $27,036.

Full UIC Economics Report

#3

Eastern Illinois University

Charleston, Illinois
#8 in overall quality
$20,761 Avg Grad Tuition & Fees

You’ll be in good company if you decide to attend Eastern Illinois University. It ranked #3 on our 2022 Best Value Economics Schools for a Master’s in Illinois For Those Getting Aid list. Eastern Illinois University is a medium-sized school located in Charleston, Illinois that handed out 11 masters’s economics degrees in 2019-2020.

As a testament to the quality of education offered at EIU, the school also landed the #8 spot in our “Best Economics Master’s Degree Schools in Illinois” ranking. Average graduate tuition and fees at Eastern Illinois University are $20,761, but some majors have different tuition rates.

Full Eastern Illinois University Economics Report

#4

Northwestern University

Evanston, Illinois
#2 in overall quality
$56,567 Avg Grad Tuition & Fees

Out of the 11 schools in the Best Value Economics Schools for a Master’s in Illinois For Those Getting Aid that were part of this year’s ranking, Northwestern University landed the #4 spot on the list. Northwestern University is a private not-for-profit institution located in Evanston, Illinois. The school has a large population, and it awarded 34 masters’s degrees in 2019-2020.

In addition to being on our illinois master’s degree economics students with aid list, Northwestern has also earned the #2 rank in our “Best Economics Master’s Degree Schools in Illinois” ranking. Average graduate tuition and fees at Northwestern University are $56,567, but some majors have different tuition rates.

Full Northwestern Economics Report

#5

Northern Illinois University

Dekalb, Illinois
#10 in overall quality
$11,086 Avg Grad Tuition & Fees

You’ll be in good company if you decide to attend Northern Illinois University. It ranked #5 on our 2022 Best Value Economics Schools for a Master’s in Illinois For Those Getting Aid list. NIU is a fairly large school located in Dekalb, Illinois that handed out 4 masters’s economics degrees in 2019-2020.

In addition to being on our illinois master’s degree economics students with aid list, NIU has also earned the #10 rank in our “Best Economics Master’s Degree Schools in Illinois” ranking. Average graduate tuition and fees at Northern Illinois University are $11,086, but you may pay more or less depending on your major.

Read more about Economics at NIU

#6

Southern Illinois University Carbondale

Carbondale, Illinois
#7 in overall quality
$32,928 Avg Grad Tuition & Fees

Southern Illinois University Carbondale came in at #6 in this year’s edition of the Best Value Economics Schools for a Master’s in Illinois For Those Getting Aid ranking. SIUC is a fairly large school located in Carbondale, Illinois that handed out 4 masters’s economics degrees in 2019-2020.

SIUC also made our “Best Economics Master’s Degree Schools in Illinois” list, coming in at #7. Average graduate tuition and fees at SIUC are $32,928, but you may pay more or less depending on your major.

Full Southern Illinois University Carbondale Economics Report

#7

Western Illinois University

Macomb, Illinois
#9 in overall quality
$11,996 Avg Grad Tuition & Fees

Western Illinois University landed the #7 spot on the 2022 Best Value Economics Schools for a Master’s in Illinois For Those Getting Aid ranking. WIU is a medium-sized public school situated in Macomb, Illinois. It awarded 10 masters’s economics degrees in 2019-2020.

WIU also took the #9 spot in our “Best Economics Master’s Degree Schools in Illinois” ranking. Average graduate tuition and fees at WIU are $11,996, but you may pay more or less depending on your major.

Full WIU Economics Report

#8

Illinois State University

Normal, Illinois
#6 in overall quality
$11,069 Avg Grad Tuition & Fees

Illinois State University did quite well in the 2022 Best Value Economics Schools for a Master’s in Illinois For Those Getting Aid ranking, coming in at #8. Illinois State is a public institution located in Normal, Illinois. The school has a large population, and it awarded 14 masters’s degrees in 2019-2020.

As a testament to the quality of education offered at Illinois State, the school also landed the #6 spot in our “Best Economics Master’s Degree Schools in Illinois” ranking. Average graduate tuition and fees at Illinois State are $11,069, but you may pay more or less depending on your major.

Full Illinois State Economics Report

#9

University of Chicago

Chicago, Illinois
#1 in overall quality
$61,548 Avg Grad Tuition & Fees

University of Chicago ranked #9 on this year’s Best Value Economics Schools for a Master’s in Illinois For Those Getting Aid list. UChicago is a private not-for-profit institution located in Chicago, Illinois. The school has a fairly large population, and it awarded 59 masters’s degrees in 2019-2020.

UChicago also took the #1 spot in our “Best Economics Master’s Degree Schools in Illinois” ranking. Average graduate tuition and fees at University of Chicago are $61,548, but some majors have different tuition rates.

Read more about Economics at University of Chicago

#10

Roosevelt University

Chicago, Illinois
$21,605 Avg Grad Tuition & Fees

Roosevelt University did quite well in the 2022 Best Value Economics Schools for a Master’s in Illinois For Those Getting Aid ranking, coming in at #10. Roosevelt is a small private not-for-profit school situated in Chicago, Illinois. It awarded 1 masters’s economics degrees in 2019-2020.

Roosevelt also made our “Best Economics Master’s Degree Schools in Illinois” list, coming in at #0. Although you might pay more or less depending on your area of study, average graduate tuition and fees at Roosevelt University are $21,605.

Read more about Economics at Roosevelt University

#11

DePaul University

Chicago, Illinois
#5 in overall quality
$19,760 Avg Grad Tuition & Fees
$64,990 Average Early-Career Earnings

DePaul University came in at #11 in this year’s edition of the Best Value Economics Schools for a Master’s in Illinois For Those Getting Aid ranking. DePaul University is a large private not-for-profit school situated in Chicago, Illinois. It awarded 29 masters’s economics degrees in 2019-2020.

DePaul not only placed well in this ranking. It is also #5 on our “Best Economics Master’s Degree Schools in Illinois” list. Although you might pay more or less depending on your area of study, average graduate tuition and fees at DePaul are $19,760.

Full DePaul University Economics Report

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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