HILLSDALE, Mich., Jan. 11, 2016 /PRNewswire/ -- Hillsdale College has been named the No. 1 "Best College Value" among all Michigan colleges and universities, according to Kiplinger's Personal Finance's list of the Top 300 Best College Values of 2016 released Jan. 5.
"Hillsdale College's innovative fundraising and student aid programs significantly reduce the cost of tuition for our students," said Rich Moeggenberg, director of financial aid. "While it costs more than $66,000 each year to educate a student, the average Hillsdale College student pays less than $19,700 after scholarship and loan aid."
Though Hillsdale does not accept taxpayer funding, even indirectly in the form of student grants or loans, the college provides this tuition value through partnerships with private donors. More than 92 percent of students receive some form of aid, and Hillsdale College awarded more than $22 million in gift aid in the 2014-2015 academic year.
"Hillsdale's approach connects students to funding their education more effectively, because they know and develop relationships with those who make their education possible: our donors," Moeggenberg said.
By not accepting federal funds, including from federal student loan programs, Hillsdale College estimates that it saves taxpayers approximately $6 million per year. Additionally, the college offers privately funded student loans with terms and rates competitive to those offered by the federal government.
The college also provides full scholarships for U.S. military veterans, allowing them to reserve GI Bill funds for post-graduate studies or to help a family member pay for their education.
Hillsdale College's average tuition rate increase of 3.4 percent over the last 10-years is lower than the national 10-year average of 5 percent, which is tracked by the College Board. Hillsdale offsets increases in tuition costs with additional funding from donors and supporters of the College rather than passing those increases along to parents, students, or taxpayers.
Hillsdale College is ranked No. 21 on the magazine's list of 100 best values among liberal arts colleges nationally. This is the eighth consecutive year Hillsdale College has made Kiplinger's list, and the seventh consecutive year that it has been named the No. 1 "Best College Value" among liberal arts colleges in Michigan.
Introduced in 1998, the rankings are arranged in three categories: public universities, private universities, and private liberal arts colleges that combine outstanding academics with affordable cost. In addition, Kiplinger's ranks the top 100 best values in each category.
Kiplinger's assesses value by measurable standards of academic quality and affordability. Quality measures include the admission rate, the percentage of students who return for sophomore year, the student-faculty ratio and four-year graduation rate. Cost criteria include sticker price, financial aid and average debt at graduation.
The complete rankings are available online at Kiplinger's.com/links/college appears in print in the February 2016 issue of Kiplinger's Personal Finance, on newsstands Jan. 5.
Hillsdale College has also been listed on Business Insiders' "Smartest Colleges," Forbes' "America's Top Colleges" and U.S. News & World Report's "Best Colleges." To learn more about Hillsdale College, visit www.hillsdale.edu/admissions/2015-rankings.
About Hillsdale College
Hillsdale College, founded in 1844, has built a national reputation through its classical liberal arts core curriculum and its principled refusal to accept federal or state taxpayer subsidies, even indirectly in the form of student grants or loans. It also conducts an educational outreach effort promoting civil and religious liberty, including a free monthly speech digest, Imprimis, with a circulation of more than 2.9 million.
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SOURCE Hillsdale College