This week, Loras College was ranked the 8th best college in Iowa, and 352nd nationally, according to MONEY magazine. The rankings evaluated roughly 1,500 of the nation’s four-year colleges based on graduation rates, educational quality, affordability and alumni earnings provided by PayScale.com.
“Rankings are but one tool for the public to use in discerning the quality of higher education institutions. This particular listing appears to be more viable than many others in that it does not require a subscription, fee, application or survey to be completed. Further, it incorporates a number of valid, consistent and verifiable metrics when calculating the rankings. As such, Loras is honored to have garnered such prestigious recognition again,” said Loras College President Jim Collins
With 98.7 percent of the Loras College Class of 2013 employed or continuing their education 12 months after graduation, MONEY ranked Loras ahead of Simpson College, Coe College, Grand View University, Wartburg College, Clarke University, St. Ambrose University, Cornell College and Morningside College, respectively. Loras was ranked behind the four regent universities: Grinnell College, Drake University, Luther College and Dordt College.
To generate the rankings, MONEY first identified schools with an above-average six-year graduation rate and screened out those with a speculative bond rating from Moody’s—indicating financial difficulties—or those which did not have sufficient data available. The rankings also did not include military schools that require a service-commitment in exchange for free tuition.
From there, MONEY ranked each of the 665 remaining schools based on the quality of education, affordability and outcomes:
Quality of education focused on the six-year graduation rate, peer quality, instructor quality, students’ perception of quality and the value-added graduation rate.
Affordability reviewed the net price of a degree, student loan debt and parent federal PLUS loans, student loan default risk, and value-added student loan default risk.
Outcomes focused on early and mid-career alumni earnings, earnings adjusted by majors, value-added earnings and career service staffing.
For more information or to access the complete MONEY Best Colleges rankings please click here