In a competitive job market, the quality and reputation of a graduate’s alma mater can mean the difference between a job offer and a rejection letter.
That's why next year's high school graduating class must carefully weigh the pros and cons of the colleges or universities they want to attend as the freshman class of 2020, according to a new report by personal finance website WalletHub.
Cost will inevitably be one factor, the report noted, with tuition and room and board at four-year colleges and universities averaging between $21,000 and $48,000 per year.
"For those prices, students want to know they are getting a good deal," WalletHub said.
WalletHub studied 1,003 U.S. schools and assessed them in seven key categories: student selectivity; cost and financing; faculty resources; campus safety; campus experience; educational outcomes; and career outcomes.
"WalletHub’s Best Colleges ranking also analyzes post-attendance metrics—the student-loan default rate and the share of former students outearning high school graduates, for instance—to show the value of the education students can expect to receive beyond their undergraduate studies," the report said.
Following, in ascending order, are WalletHub's top 10 best colleges and universities of 2020.
10. University of North Carolina-Chapel Hill
Founded in 1789, the University of North Carolina at Chapel Hill, also known as UNC, is the flagship of the university’s 17 campuses. The school ranked first in educational outcomes, 159th in career outcomes and 396th in cost and financing and 889th in campus safety.
9. Northwestern University
Northwestern University, founded in 1851, is a private research university located in Evanston, Ill. The school ranked eleventh in student selectivity and 49th in career outcomes, but 945th in cost and financing.
8. University of Pennsylvania
In 1749, Benjamin Franklin founded a small academy now known as the University of Pennsylvania, a private Ivy League research university in Philadelphia. The school ranked fourth in faculty resources, eighth in student selectivity and 16th in career outcomes, but 984th in cost and financing.
7. Duke University
Founded by Methodists and Quakers in 1838, Duke University is a private research university in Durham, N.C., where it moved in 1892. The school is ranked 16th in student selectivity and 11th in career outcomes, but 947th in cost and financing.
6. California Institute of Technology
Founded in 1891, the California Institute of Technology, known as Caltech, is a private research university in Pasadena, Calif., with a strong reputation in natural science and engineering. Caltech ranked first in faculty resources, second in career outcomes, third in student selectivity and 954th in cost and financing.
5. Stanford University
Leland Stanford Junior University, founded in 1885, is now known as Stanford University, a private research university in Stanford, Calif. The school ranks fifth in student selectivity and 13th in career outcomes, 310th in campus safety and 926th in cost and financing.
4. Yale University
Founded in 1701 to train ministers and lay leadership, Yale University is a private Ivy League research university in New Haven, Conn. Yale ranks fifth in faculty resources, seventh in student selectivity and 13th in career outcomes and 930th in cost and financing.
3. Princeton University
Princeton University is a private Ivy League research university in Princeton, N.J., founded in 1746 to train ministers. The school ranks sixth in student selectivity, 17th in career outcomes, 628th in campus safety and 863rd in cost and financing.
2. Harvard University
Harvard University is a private Ivy League research university in Cambridge, Mass., founded in 1636 and named for its first donor, Rev. John Harvard. The school ranks first in student selectivity, seventh in career outcomes and 908th in cost and inancing.
1. Massachusetts Institute of Technology
Founded in 1861, the Massachusetts Institute of Technology, known as MIT, is a private research university in Cambridge, Mass. The school ranks first in career outcomes, second in student selectivity, seventh in faculty resources, 529th in campus safety and 910th in cost and financing.
The full report can be viewed here.
