2027 Best Value General Economics Schools in the Great Lakes Region
[General Economics](/majors/social-sciences/economics/economics-general/) degree programs vary widely in price and payoff across the country. The schools below stand out for delivering a strong general economics education at a price that pays off.
For its 2027 best-value ranking, College Factual looked at 43 schools to find the best return on investment for general economics students.
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2027 Best Value General Economics Schools in the Great Lakes Region
Below are the schools that deliver the strongest value in general economics, balancing cost against outcomes.
Best Value General Economics Schools
Leading the list is University Of Michigan Ann Arbor, our #1 best value for general economics in the Great Lakes Region. Located in the city of Ann Arbor, University Of Michigan Ann Arbor is a very large public university. The average in-state cost of tuition and fees is $18,848, while out-of-state students pay about $63,081. General Economics graduates carry a median of $19,690 in student loans. Soon after graduation, general economics degree recipients from University Of Michigan Ann Arbor generally make around $68,416. That is a strong return on a $19,690 median debt. The acceptance rate is 16%.
A rank of #2 makes University Of Illinois At Chicago one of the best values for general economics. Set in the city of Chicago, University Of Illinois At Chicago is a very large public institution. In-state tuition and fees average $15,949, compared with $32,009 for out-of-state students. General Economics graduates carry a median of $19,002 in student loans. Soon after graduation, general economics degree recipients from University Of Illinois At Chicago generally make around $37,767. Set against $19,002 in median debt, that is a healthy payoff. Roughly 77% of applicants are accepted.
Students looking for strong value in general economics will find it at University Of Chicago, which ranked #3. University Of Chicago is a very large private not-for-profit school located in the city of Chicago. Students from in state pay about $69,324 in tuition and fees. Typical student debt for general economics graduates is $13,197. General Economics graduates of University Of Chicago earn a median of $92,075 early in their careers. That is a strong return on a $13,197 median debt. The acceptance rate is 4%.
The strong cost-to-outcome balance at Indiana University Purdue University Indianapolis earned it the #4 place for general economics. Set in the city of Indianapolis, Indiana University Purdue University Indianapolis is a very large public institution. Students from in state pay about $10,762 in tuition and fees, with out-of-state students paying around $34,891. Typical student debt for general economics graduates is $18,711. Soon after graduation, general economics degree recipients from Indiana University Purdue University Indianapolis generally make around $45,443. Set against $18,711 in median debt, that is a healthy payoff. Roughly 76% of applicants are accepted.
University Of Illinois At Urbana Champaign is a great value for students pursuing a degree in general economics, landing the #5 spot this year. Set in the city of Champaign, University Of Illinois At Urbana Champaign is a very large public institution. In-state tuition and fees average $18,267, compared with $40,096 for out-of-state students. General Economics graduates carry a median of $21,228 in student loans. General Economics graduates of University Of Illinois At Urbana Champaign earn a median of $58,921 early in their careers. Set against $21,228 in median debt, that is a healthy payoff. University Of Illinois At Urbana Champaign admits about 42% of applicants.
Wayne State University ranked #6 on our 2027 list of the best value general economics schools. Set in the city of Detroit, Wayne State University is a very large public institution. In-state tuition and fees average $16,159, while out-of-state students pay about $34,650. Students borrow a median of $24,681 to complete the general economics program here. Early-career general economics graduates make about $50,648. Weighed against typical debt, the earnings make a compelling case for value. Roughly 81% of applicants are accepted.
University Of Southern Indiana placed #7 among the best values for general economics. Located in the suburb of Evansville, University Of Southern Indiana is a large public university. Expect in-state tuition and fees of around $10,066, with out-of-state students paying around $22,907. General Economics graduates carry a median of $21,999 in student loans. General Economics graduates of University Of Southern Indiana earn a median of $47,216 early in their careers. That is a strong return on a $21,999 median debt. University Of Southern Indiana admits about 96% of applicants.
Northern Illinois University came in at #8 for value in general economics this year. Located in the suburb of Dekalb, Northern Illinois University is a large public university. Expect in-state tuition and fees of around $13,060. Typical student debt for general economics graduates is $25,879. Soon after graduation, general economics degree recipients from Northern Illinois University generally make around $45,386. That is a strong return on a $25,879 median debt. Roughly 70% of applicants are accepted.
University Of Wisconsin Whitewater landed the #9 spot for general economics value this year. University Of Wisconsin Whitewater is a large public school located in the town of Whitewater. Expect in-state tuition and fees of around $8,616, compared with $18,716 for out-of-state students. General Economics graduates carry a median of $21,698 in student loans. Early-career general economics graduates make about $46,404. Weighed against typical debt, the earnings make a compelling case for value. The acceptance rate is 86%.
University Of Detroit Mercy came in at #10 for value in general economics this year. Located in the city of Detroit, University Of Detroit Mercy is a moderately-sized private not-for-profit university. The average in-state cost of tuition and fees is $32,946. Students borrow a median of $29,053 to complete the general economics program here. Soon after graduation, general economics degree recipients from University Of Detroit Mercy generally make around $76,755. Weighed against typical debt, the earnings make a compelling case for value. Roughly 75% of applicants are accepted.
Ball State University landed the #11 spot for general economics value this year. Set in the city of Muncie, Ball State University is a very large public institution. Students from in state pay about $11,082 in tuition and fees, with out-of-state students paying around $29,630. General Economics graduates carry a median of $22,054 in student loans. Early-career general economics graduates make about $56,782. Weighed against typical debt, the earnings make a compelling case for value. Ball State University admits about 86% of applicants.
Southern Illinois University Carbondale earned the #12 position for value in general economics this year. Set in the town of Carbondale, Southern Illinois University Carbondale is a large public institution. In-state tuition and fees average $13,334. Students borrow a median of $25,049 to complete the general economics program here. General Economics graduates of Southern Illinois University Carbondale earn a median of $37,798 early in their careers. Weighed against typical debt, the earnings make a compelling case for value. Roughly 87% of applicants are accepted.
University Of Wisconsin Stevens Point placed #13 among the best values for general economics. Located in the town of Stevens Point, University Of Wisconsin Stevens Point is a moderately-sized public university. Expect in-state tuition and fees of around $9,228, while out-of-state students pay about $18,248. Students borrow a median of $24,161 to complete the general economics program here. General Economics graduates of University Of Wisconsin Stevens Point earn a median of $41,256 early in their careers. Set against $24,161 in median debt, that is a healthy payoff. The acceptance rate is 92%.
Indiana University Bloomington placed #14 among the best values for general economics. Indiana University Bloomington is a very large public school located in the city of Bloomington. The average in-state cost of tuition and fees is $12,144, with out-of-state students paying around $41,891. General Economics graduates carry a median of $20,500 in student loans. Soon after graduation, general economics degree recipients from Indiana University Bloomington generally make around $59,142. That is a strong return on a $20,500 median debt. The acceptance rate is 78%.
Western Michigan University placed #15 among the best values for general economics. Set in the city of Kalamazoo, Western Michigan University is a large public institution. The average in-state cost of tuition and fees is $15,987, compared with $19,952 for out-of-state students. Typical student debt for general economics graduates is $27,981. Soon after graduation, general economics degree recipients from Western Michigan University generally make around $48,966. Set against $27,981 in median debt, that is a healthy payoff. Western Michigan University admits about 85% of applicants.
University Of Akron Main Campus came in at #16 for value in general economics this year. University Of Akron Main Campus is a large public school located in the city of Akron. The average in-state cost of tuition and fees is $13,135, with out-of-state students paying around $20,815. Typical student debt for general economics graduates is $25,347. General Economics graduates of University Of Akron Main Campus earn a median of $49,045 early in their careers. That is a strong return on a $25,347 median debt. University Of Akron Main Campus admits about 60% of applicants.
University Of Wisconsin Madison came in at #17 for value in general economics this year. Set in the city of Madison, University Of Wisconsin Madison is a very large public institution. In-state tuition and fees average $11,603, with out-of-state students paying around $42,103. General Economics graduates carry a median of $20,750 in student loans. Soon after graduation, general economics degree recipients from University Of Wisconsin Madison generally make around $64,223. Set against $20,750 in median debt, that is a healthy payoff. Roughly 45% of applicants are accepted.
Albion College earned the #18 position for value in general economics this year. Set in the town of Albion, Albion College is a small private not-for-profit institution. Students from in state pay about $56,950 in tuition and fees. General Economics graduates carry a median of $27,000 in student loans. Early-career general economics graduates make about $48,756. Set against $27,000 in median debt, that is a healthy payoff. Albion College admits about 81% of applicants.
University Of Wisconsin La Crosse ranked #19 on our 2027 list of the best value general economics schools. Located in the city of La Crosse, University Of Wisconsin La Crosse is a large public university. Students from in state pay about $10,070 in tuition and fees, compared with $19,517 for out-of-state students. Typical student debt for general economics graduates is $25,000. General Economics graduates of University Of Wisconsin La Crosse earn a median of $53,595 early in their careers. Weighed against typical debt, the earnings make a compelling case for value. The acceptance rate is 76%.
Northeastern Illinois University ranked #20 on our 2027 list of the best value general economics schools. Located in the city of Chicago, Northeastern Illinois University is a moderately-sized public university. The average in-state cost of tuition and fees is $12,383, while out-of-state students pay about $22,726. General Economics graduates carry a median of $17,600 in student loans. General Economics graduates of Northeastern Illinois University earn a median of $40,004 early in their careers. That is a strong return on a $17,600 median debt. Roughly 75% of applicants are accepted.
University Of Wisconsin Milwaukee landed the #21 spot for general economics value this year. Located in the city of Milwaukee, University Of Wisconsin Milwaukee is a very large public university. Expect in-state tuition and fees of around $10,398, compared with $22,398 for out-of-state students. Typical student debt for general economics graduates is $27,000. General Economics graduates of University Of Wisconsin Milwaukee earn a median of $44,327 early in their careers. Set against $27,000 in median debt, that is a healthy payoff. The acceptance rate is 91%.
Northern Michigan University came in at #22 for value in general economics this year. Set in the town of Marquette, Northern Michigan University is a moderately-sized public institution. Students from in state pay about $14,322 in tuition and fees, compared with $19,944 for out-of-state students. General Economics graduates carry a median of $22,608 in student loans. Soon after graduation, general economics degree recipients from Northern Michigan University generally make around $40,508. That is a strong return on a $22,608 median debt. Roughly 84% of applicants are accepted.
University Of Wisconsin Eau Claire ranked #23 on our 2027 list of the best value general economics schools. Set in the city of Eau Claire, University Of Wisconsin Eau Claire is a large public institution. In-state tuition and fees average $9,642, with out-of-state students paying around $19,228. Students borrow a median of $21,500 to complete the general economics program here. General Economics graduates of University Of Wisconsin Eau Claire earn a median of $51,344 early in their careers. That is a strong return on a $21,500 median debt. Roughly 82% of applicants are accepted.
Cleveland State University landed the #24 spot for general economics value this year. Set in the city of Cleveland, Cleveland State University is a large public institution. In-state tuition and fees average $12,982, compared with $18,502 for out-of-state students. Students borrow a median of $32,500 to complete the general economics program here. Early-career general economics graduates make about $44,759. Set against $32,500 in median debt, that is a healthy payoff. Cleveland State University admits about 91% of applicants.
Michigan State University landed the #25 spot for general economics value this year. Michigan State University is a very large public school located in the city of East Lansing. The average in-state cost of tuition and fees is $18,079, with out-of-state students paying around $44,850. Students borrow a median of $24,250 to complete the general economics program here. Soon after graduation, general economics degree recipients from Michigan State University generally make around $54,013. Weighed against typical debt, the earnings make a compelling case for value. Roughly 85% of applicants are accepted.
Rest of the Top 43 Best Value General Economics Schools
These schools also delivered strong value for general economics this year:
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Notes and References
The ranking above is published by College Factual (MF_RANKING_2025), 2027 edition. The methodology weighs the cost of a degree against the earnings graduates go on to achieve, drawn primarily from the U.S. Department of Education (IPEDS and College Scorecard).
Ranking method: College Major Best Value · 43 schools evaluated.
*Averages shown above reflect the top 43 ranked schools only.
- 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).
More about our data sources and methodologies.
