Top U.S. Universities and Where to Go To Avoid Debt

U.S. News and World Report's 2008 America's Best Colleges review is now available. While our three year old daughter is still 15 years away from attending, I have more than a passing interest in the article. One of my dream jobs is to be a College Application Coach for students applying to top U.S. universities. Since it has been a while since I applied to college myself, I wanted to begin to refresh my memory on the current state of today's colleges.

College Rankings

The college rankings are still similar to when I applied to college. Ivy League schools still have many of top spots, with Princeton, Harvard and Yale in the top three. Here are the top five schools:

1. Princeton University, Princeton, NJ
   Undergraduate student body: 4,906
   Tuition and fees: $33,000
   Room/board: $9,200



2. Harvard University, Cambridge, MA
   Undergraduate student body: 6,649
   Tuition and fees: $33,709
   Room/board: $9,946



3. Yale University, New Haven, CT
   Undergraduate student body: 5,409
   Tuition and fees: $33,030
   Room/board: $10,020



4. Stanford University, Stanford, CA
   Undergraduate student body: 6,576
   Tuition and fees: $32,994
   Room/board: $10,367



5. University of Pennsylvania (tie), Philadelphia, PA
   Undergraduate student body: 9,730
   Tuition and fees: $35,916
   Room/board: $10,208
   
   California Institute of Technology(tie), Pasadena, CA
   Undergraduate student body: 913
   Tuition and fees: $29,595
   Room/board: $9,102

As a previous reader noted, tuition and fees may not include text books, sports fees, insurance, and travel from home.

Student Debt Rankings

Surprisingly, Princeton and Harvard were the top two schools for the least student debt, among national universities. Here to the top five schools for low student debt:

1. Princeton University, Princeton, NJ
   Percent of graduates with debt: 26 percent
   Average amount of debt: $4,965



2. Harvard University, Cambridge, MA
   Percent of graduates with debt: 42 percent
   Average amount of debt: $9,717



3. Howard University, Washington, D.C.
   Percent of graduates with debt: 88 percent
   Average amount of debt: $10,868



4. Utah State University, Logan, UT
   Percent of graduates with debt: 25 percent
   Average amount of debt: $11,040



5. University of Massachusetts-Amherst
   Percent of graduates with debt: 55 percent
   Average amount of debt: $11,227

Of note, the article states that the data does not include loans taken out by parents. So the number may understate the total family debt to attend the university.

Overall, I was impressed average debt at some of the top universities, which offer about $20,000 to $25,000 of non-loan financial aid. Of course, the costs will be much higher when our daughter will be applying. If she should be fortunate enough to be admitted, perhaps she will qualify for one of these unique scholarships.

For more on Crossing Generations , check back every Thursday for a new segment.

Photo Credit: Princeton University

This is not financial advice. Please consult a professional advisor.

Copyright © 2007 Achievement Catalyst, LLC