2023 Best Value Colleges for Economics (Income $0-$30k) in the Great Lakes Region
78
Ranked Colleges
6,916
Degrees Awarded
$8,700
Avg Net Price*
When it comes to choosing a college, students have a lot of options - but not all of them are good. One of our goals at College Factual is to give you as much information as we can - such as our “Best Value Economics Schools in the Great Lakes Region For Those Making $0-$30k” ranking - to help you make that decision.
In 2020-2021, 49,055 people earned their degree in economics, making the major the 19th most popular in the United States. In 2019-2020, economics graduates who were awarded their degree in 2017-2019, earned an average of $48,736 and had an average of $22,046 in loans still to pay off.
Across the Great Lakes region, there were 6,916 economics graduates with average earnings and debt of $48,027 and $23,639 respectively.
This year’s “Best Value Economics Schools in the Great Lakes Region For Those Making $0-$30k” ranking looked at 78 colleges that offer degrees in a bachelor’s in economics. The schools that top this list are recognized because they have great economics programs and cost less that schools of similar quality.
To come up with these rankings, we looked at factors such as the cost to attend the school after aid is awarded and overall quality of the economics program at the school. For more information, check out our ranking methodology.
One Size Does Not Fit All
Since picking the right college can be one of the most important decisions of your life, we’ve developed the “Best Value Economics Schools in the Great Lakes Region For Those Making $0-$30k” ranking, along with many other major-related rankings, to help you make that decision.
One of our other unique offerings is College Combat. This tool lets you build your own customized comparisons utilizing the factors that are most important to you. Test it out by comparing your favorite schools against others you are considering, or bookmark the tool so you can experiment with it later.
Best Value Economics Schools in the Great Lakes Region For Those Making $0-$30k
The following schools top our list of the Best Best Value Economics Schools in the Great Lakes Region For Those Making $0-$30k.
Top 25 Best Value Colleges for Economics (Income $0-$30k) in the Great Lakes Region
You’ll join some of the best and brightest minds around if you attend Northwestern University. The school came in at #1 for the Best Value Economics Schools in the Great Lakes Region For Those Making $0-$30k. Evanston, Illinois is the setting for this large institution of higher learning. The private not-for-profit school handed out ’s economics degrees to 402 students in 2020-2021.
Northwestern did well in our major quality rankings, too. It placed #2 on our “Best Economics Schools in the Great Lakes Region” list. The yearly cost to attend Northwestern University is $245 for Great Lakes Region Economics students whose families make $0-$30k.
Students who start out at the school are likely to stick around. The freshman retention rate is 97%. The undergraduate student-to-faculty ratio of 6 to 1 is a sign that students will have more opportunities to engage with their professors one-on-one. The low undergrad student loan default rate of 0.6% is a good sign that students have an easier time paying off their loans than they might at other schools. For comparison, the national default rate is 10.1%.
Read more about Economics at Northwestern
You’ll be in good company if you decide to attend University of Chicago. It ranked #2 on our 2023 Best Value Economics Schools in the Great Lakes Region For Those Making $0-$30k list. University of Chicago is a fairly large school located in Chicago, Illinois that handed out 626 ’s economics degrees in 2020-2021.
UChicago also took the #1 spot in our “Best Economics Schools in the Great Lakes Region” ranking. It costs about $2,500 for Great Lakes Region Economics students whose families make $0-$30k per year to attend University of Chicago.
The school has an excellent freshman retention rate of 100%, which means students like the school well enough to return for a second year. The undergraduate student-to-faculty ratio of 5 to 1 is a sign that students will have more opportunities to engage with their professors one-on-one. The school has an impressive undergrad student loan default rate. It’s only 1.0%, which is much lower than the national rate of 10.1%.
Read more about Economics at UChicago
You’ll be in good company if you decide to attend University of Michigan - Ann Arbor. It ranked #3 on our 2023 Best Value Economics Schools in the Great Lakes Region For Those Making $0-$30k list. U-M is a large school located in Ann Arbor, Michigan that handed out 728 ’s economics degrees in 2020-2021.
U-M also took the #4 spot in our “Best Economics Schools in the Great Lakes Region” ranking. The yearly cost to attend U-M is $2,670 for great lakes region economics students whose families make $0-$30k.
The low undergrad student loan default rate of 1.3% is a good sign that students have an easier time paying off their loans than they might at other schools. For comparison, the national default rate is 10.1%. With a freshman retention rate of 96%, the school does an excellent job of retaining its undergraduate students.
Full University of Michigan - Ann Arbor Economics Report
Out of the 78 schools in the Best Value Economics Schools in the Great Lakes Region For Those Making $0-$30k that were part of this year’s ranking, University of Wisconsin - Madison landed the #4 spot on the list. UW - Madison is a large public school situated in Madison, Wisconsin. It awarded 864 ’s economics degrees in 2020-2021.
UW - Madison also took the #5 spot in our “Best Economics Schools in the Great Lakes Region” ranking. The estimated yearly cost for UW - Madison is $3,981 for Great Lakes Region Economics students whose families make $0-$30k.
The low undergrad student loan default rate of 0.9% is a good sign that students have an easier time paying off their loans than they might at other schools. For comparison, the national default rate is 10.1%. The school has an excellent freshman retention rate of 95%, which means students like the school well enough to return for a second year.
Full UW - Madison Economics Report
You’ll be in good company if you decide to attend University of Illinois at Urbana-Champaign. It ranked #5 on our 2023 Best Value Economics Schools in the Great Lakes Region For Those Making $0-$30k list. UIUC is located in Champaign, Illinois and, has a large student population. In 2020-2021, this school awarded 563 ’s economics degrees to qualified students.
UIUC not only placed well in this ranking. It is also #6 on our “Best Economics Schools in the Great Lakes Region” list. The yearly cost to attend UIUC is $4,858 for Great Lakes Region Economics students whose families make $0-$30k.
The school has an excellent freshman retention rate of 94%, which means students like the school well enough to return for a second year. The undergrad student loan default rate at the school is 2.3%, which is quite low when compared to the national default rate of 10.1%.
Full UIUC Economics Report
With a ranking of #6, University of Notre Dame did quite well on the 2023 Best Value Economics Schools in the Great Lakes Region For Those Making $0-$30k list. Notre Dame is a fairly large private not-for-profit school situated in Notre Dame, Indiana. It awarded 260 ’s economics degrees in 2020-2021.
Notre Dame also took the #3 spot in our “Best Economics Schools in the Great Lakes Region” ranking. The yearly cost to attend University of Notre Dame is $9,872 for great lakes region economics students whose families make $0-$30k.
Since the school has a undergrad student-to-faculty ratio of 9 to 1, those pursuing a degree will have more opportunities to interact with their professors. The low undergrad student loan default rate of 0.7% is a good sign that students have an easier time paying off their loans than they might at other schools. For comparison, the national default rate is 10.1%. Students who start out at the school are likely to stick around. The freshman retention rate is 97%.
Read more about Economics at University of Notre Dame
Purdue University - Main Campus ranked #7 on this year’s Best Value Economics Schools in the Great Lakes Region For Those Making $0-$30k list. This large school is located in West Lafayette, Indiana, and it awarded 196 ’s economics degrees in 2020-2021.
Purdue did well in our major quality rankings, too. It placed #9 on our “Best Economics Schools in the Great Lakes Region” list. The estimated yearly cost for Purdue is $5,995 for Great Lakes Region Economics students whose families make $0-$30k.
Students who start out at the school are likely to stick around. The freshman retention rate is 93%. The low undergrad student loan default rate of 1.7% is a good sign that students have an easier time paying off their loans than they might at other schools. For comparison, the national default rate is 10.1%.
Full Purdue Economics Report
Michigan State University ranked #8 on this year’s Best Value Economics Schools in the Great Lakes Region For Those Making $0-$30k list. Michigan State is located in East Lansing, Michigan and, has a large student population. In 2020-2021, this school awarded 379 ’s economics degrees to qualified students.
Michigan State also took the #7 spot in our “Best Economics Schools in the Great Lakes Region” ranking. The estimated yearly cost for Michigan State University is $6,927 for Great Lakes Region Economics students whose families make $0-$30k.
With a freshman retention rate of 91%, the school does an excellent job of retaining its undergraduate students. The low undergrad student loan default rate of 2.6% is a good sign that students have an easier time paying off their loans than they might at other schools. For comparison, the national default rate is 10.1%.
Read more about Economics at Michigan State
With a ranking of #9, Indiana University - Bloomington did quite well on the 2023 Best Value Economics Schools in the Great Lakes Region For Those Making $0-$30k list. Indiana University - Bloomington is a large school located in Bloomington, Indiana that handed out 140 ’s economics degrees in 2020-2021.
IU Bloomington not only placed well in this ranking. It is also #14 on our “Best Economics Schools in the Great Lakes Region” list. The estimated yearly cost for IU Bloomington is $5,752 for great lakes region economics students whose families make $0-$30k.
The undergrad student loan default rate at the school is 3.4%, which is quite low when compared to the national default rate of 10.1%. The school has an excellent freshman retention rate of 91%, which means students like the school well enough to return for a second year.
Read more about Economics at IU Bloomington
Ohio State University - Main Campus ranked #10 on this year’s Best Value Economics Schools in the Great Lakes Region For Those Making $0-$30k list. Ohio State is a large school located in Columbus, Ohio that handed out 331 ’s economics degrees in 2020-2021.
In addition to being on our great lakes region economics students whose families make $0-$30k list, Ohio State has also earned the #8 rank in our “Best Economics Schools in the Great Lakes Region” ranking. The yearly cost to attend Ohio State is $7,068 for great lakes region economics students whose families make $0-$30k.
The school has an impressive undergrad student loan default rate. It’s only 3.6%, which is much lower than the national rate of 10.1%. Students who start out at the school are likely to stick around. The freshman retention rate is 94%.
Read more about Economics at Ohio State
Oberlin College landed the #11 spot on the 2023 Best Value Economics Schools in the Great Lakes Region For Those Making $0-$30k ranking. Oberlin is a private not-for-profit institution located in Oberlin, Ohio. The school has a small population, and it awarded 34 ’s degrees in 2020-2021.
As a testament to the quality of education offered at Oberlin, the school also landed the #17 spot in our “Best Economics Schools in the Great Lakes Region” ranking. The estimated yearly cost for Oberlin College is $8,756 for great lakes region economics students whose families make $0-$30k.
The undergrad student loan default rate at the school is 2.0%, which is quite low when compared to the national default rate of 10.1%. The impressive undergraduate student-to-faculty ratio of 9 to 1 means that students may have more opportunities to work more closely with their professors than they would at other schools.
Read more about Economics at Oberlin
Beloit College landed the #12 spot on the 2023 Best Value Economics Schools in the Great Lakes Region For Those Making $0-$30k ranking. This small school is located in Beloit, Wisconsin, and it awarded 15 ’s economics degrees in 2020-2021.
Beloit did well in our major quality rankings, too. It placed #23 on our “Best Economics Schools in the Great Lakes Region” list. The estimated yearly cost for Beloit College is $7,970 for Great Lakes Region Economics students whose families make $0-$30k.
With a undergrad student-to-faculty ratio of 10 to 1, it’s easy to see that the school is committed to helping their undergraduates succeed. The undergrad student loan default rate at the school is 2.5%, which is quite low when compared to the national default rate of 10.1%. Students who start out at the school are likely to stick around. The freshman retention rate is 90%.
Read full report on Economics at Beloit College
Indiana University - Purdue University - Indianapolis came in at #13 in this year’s edition of the Best Value Economics Schools in the Great Lakes Region For Those Making $0-$30k ranking. Located in Indianapolis, Indiana, this large public school handed out 26 diplomas to qualified ’s economics students in 2020-2021.
The yearly cost to attend Indiana University - Purdue University - Indianapolis is $7,026 for Great Lakes Region Economics students whose families make $0-$30k.
The school has an impressive undergrad student loan default rate. It’s only 4.2%, which is much lower than the national rate of 10.1%.
Read full report on Economics at IUPUI
University of Wisconsin - River Falls did quite well in the 2023 Best Value Economics Schools in the Great Lakes Region For Those Making $0-$30k ranking, coming in at #14. Located in River Falls, Wisconsin, this medium-sized public school handed out 23 degrees to qualified ’s economics students in 2020-2021.
UW - River Falls also made our “Best Economics Schools in the Great Lakes Region” list, coming in at #24. It costs about $8,438 for Great Lakes Region Economics students whose families make $0-$30k per year to attend University of Wisconsin - River Falls.
The low undergrad student loan default rate of 3.0% is a good sign that students have an easier time paying off their loans than they might at other schools. For comparison, the national default rate is 10.1%.
Full UW - River Falls Economics Report
University of Illinois at Chicago came in at #15 in this year’s edition of the Best Value Economics Schools in the Great Lakes Region For Those Making $0-$30k ranking. University of Illinois at Chicago is located in Chicago, Illinois and, has a large student population. In 2020-2021, this school awarded 129 ’s economics degrees to qualified students.
As a testament to the quality of education offered at UIC, the school also landed the #19 spot in our “Best Economics Schools in the Great Lakes Region” ranking. It costs about $10,549 for Great Lakes Region Economics students whose families make $0-$30k per year to attend UIC.
The undergrad student loan default rate at the school is 2.5%, which is quite low when compared to the national default rate of 10.1%.
Read more about Economics at UIC
Miami University - Oxford ranked #16 on this year’s Best Value Economics Schools in the Great Lakes Region For Those Making $0-$30k list. Miami University - Oxford is located in Oxford, Ohio and, has a fairly large student population. In 2020-2021, this school awarded 155 ’s economics degrees to qualified students.
As a testament to the quality of education offered at Miami University - Oxford, the school also landed the #12 spot in our “Best Economics Schools in the Great Lakes Region” ranking. The estimated yearly cost for Miami University - Oxford is $13,956 for great lakes region economics students whose families make $0-$30k.
The low undergrad student loan default rate of 4.0% is a good sign that students have an easier time paying off their loans than they might at other schools. For comparison, the national default rate is 10.1%. The school has an excellent freshman retention rate of 88%, which means students like the school well enough to return for a second year.
Read more about Economics at Miami University - Oxford
DePauw University came in at #17 in this year’s edition of the Best Value Economics Schools in the Great Lakes Region For Those Making $0-$30k ranking. DePauw University is a small private not-for-profit school situated in Greencastle, Indiana. It awarded 90 ’s economics degrees in 2020-2021.
As a testament to the quality of education offered at DePauw, the school also landed the #11 spot in our “Best Economics Schools in the Great Lakes Region” ranking. The estimated yearly cost for DePauw is $19,503 for great lakes region economics students whose families make $0-$30k.
The school has an impressive undergrad student loan default rate. It’s only 1.0%, which is much lower than the national rate of 10.1%. With a freshman retention rate of 89%, the school does an excellent job of retaining its undergraduate students. The undergraduate student-to-faculty ratio of 8 to 1 is a sign that students will have more opportunities to engage with their professors one-on-one.
Full DePauw University Economics Report
University of Wisconsin - La Crosse came in at #18 in this year’s edition of the Best Value Economics Schools in the Great Lakes Region For Those Making $0-$30k ranking. La Crosse, Wisconsin is the setting for this fairly large institution of higher learning. The public school handed out ’s economics degrees to 25 students in 2020-2021.
The estimated yearly cost for UW - La Crosse is $7,517 for Great Lakes Region Economics students whose families make $0-$30k.
With a freshman retention rate of 86%, the school does an excellent job of retaining its undergraduate students. The undergrad student loan default rate at the school is 1.5%, which is quite low when compared to the national default rate of 10.1%.
Read full report on Economics at University of Wisconsin - La Crosse
Kenyon College ranked #19 on this year’s Best Value Economics Schools in the Great Lakes Region For Those Making $0-$30k list. Kenyon College is a private not-for-profit institution located in Gambier, Ohio. The school has a small population, and it awarded 28 ’s degrees in 2020-2021.
Kenyon not only placed well in this ranking. It is also #18 on our “Best Economics Schools in the Great Lakes Region” list. It costs about $14,958 for Great Lakes Region Economics students whose families make $0-$30k per year to attend Kenyon College.
With a undergrad student-to-faculty ratio of 9 to 1, it’s easy to see that the school is committed to helping their undergraduates succeed. With a freshman retention rate of 89%, the school does an excellent job of retaining its undergraduate students. The undergrad student loan default rate at the school is 0.5%, which is quite low when compared to the national default rate of 10.1%.
Read more about Economics at Kenyon College
Ball State University landed the #20 spot on the 2023 Best Value Economics Schools in the Great Lakes Region For Those Making $0-$30k ranking. Ball State is a large public school situated in Muncie, Indiana. It awarded 43 ’s economics degrees in 2020-2021.
The yearly cost to attend Ball State University is $8,273 for great lakes region economics students whose families make $0-$30k.
The undergrad student loan default rate at the school is 4.2%, which is quite low when compared to the national default rate of 10.1%.
Read full report on Economics at Ball State University
With a ranking of #21, University of Southern Indiana did quite well on the 2023 Best Value Economics Schools in the Great Lakes Region For Those Making $0-$30k list. University of Southern Indiana is a public institution located in Evansville, Indiana. The school has a medium-sized population, and it awarded 17 ’s degrees in 2020-2021.
The estimated yearly cost for USI is $7,815 for great lakes region economics students whose families make $0-$30k.
The school has an impressive undergrad student loan default rate. It’s only 3.9%, which is much lower than the national rate of 10.1%.
Full University of Southern Indiana Economics Report
With a ranking of #22, Southern Illinois University Edwardsville did quite well on the 2023 Best Value Economics Schools in the Great Lakes Region For Those Making $0-$30k list. Southern Illinois University Edwardsville is located in Edwardsville, Illinois and, has a fairly large student population. In 2020-2021, this school awarded 12 ’s economics degrees to qualified students.
It costs about $8,047 for great lakes region economics students whose families make $0-$30k per year to attend SIUE.
Read full report on Economics at SIUE
With a ranking of #23, Valparaiso University did quite well on the 2023 Best Value Economics Schools in the Great Lakes Region For Those Making $0-$30k list. Valparaiso, Indiana is the setting for this small institution of higher learning. The private not-for-profit school handed out ’s economics degrees to 23 students in 2020-2021.
As a testament to the quality of education offered at Valpo, the school also landed the #20 spot in our “Best Economics Schools in the Great Lakes Region” ranking. The estimated yearly cost for Valparaiso University is $19,548 for great lakes region economics students whose families make $0-$30k.
The school has an impressive undergrad student loan default rate. It’s only 3.0%, which is much lower than the national rate of 10.1%.
Read full report on Economics at Valparaiso University
Wabash College came in at #24 in this year’s edition of the Best Value Economics Schools in the Great Lakes Region For Those Making $0-$30k ranking. Crawfordsville, Indiana is the setting for this small institution of higher learning. The private not-for-profit school handed out ’s economics degrees to 21 students in 2020-2021.
The estimated yearly cost for Wabash College is $16,637 for Great Lakes Region Economics students whose families make $0-$30k.
With a undergrad student-to-faculty ratio of 9 to 1, it’s easy to see that the school is committed to helping their undergraduates succeed. The low undergrad student loan default rate of 2.8% is a good sign that students have an easier time paying off their loans than they might at other schools. For comparison, the national default rate is 10.1%.
Read more about Economics at Wabash
University of Michigan - Dearborn came in at #25 in this year’s edition of the Best Value Economics Schools in the Great Lakes Region For Those Making $0-$30k ranking. Dearborn, Michigan is the setting for this medium-sized institution of higher learning. The public school handed out ’s economics degrees to 23 students in 2020-2021.
The yearly cost to attend University of Michigan - Dearborn is $9,113 for Great Lakes Region Economics students whose families make $0-$30k.
The undergrad student loan default rate at the school is 3.7%, which is quite low when compared to the national default rate of 10.1%.
Read full report on Economics at University of Michigan - Dearborn
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