2022 Best Value Bachelor’s Degree Colleges for Economics (Income $48-$75k) in the Great Lakes Region
With all of the options students have for higher education today, it can be tough to choose which direction to take. One of our goals at College Factual is to give you as much information as we can - such as our “Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $48-$75k” ranking - to help you make that decision.
In 2019-2020, 48,831 people earned their degree in economics, making the major the 18th most popular in the United States. In 2017-2018, economics graduates who were awarded their degree in 2015-2017, earned an average of $47,295 and had an average of $21,978 in loans still to pay off.
Across the Great Lakes region, there were 6,771 economics graduates with average earnings and debt of $45,903 and $22,924 respectively. At the bachelor’s degree level specifically, there were 5,709 economics graduates with average earnings and debt of $39,075 and $25,381 respectively.
This year’s “Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $48-$75k” ranking looked at 99 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.
When determining these rankings, we looked at things such as overall quality of the economics program at the school and the cost to attend the school once aid has been awarded. Check out our ranking methodology for more information.
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When choosing the right school for you, it’s important to arm yourself with all the facts you can. To that end, we’ve created a number of major-specific rankings, including this “Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $48-$75k” list to help you make the college decision.
To further help you make the college decision, we’ve developed a unique tool called College Combat that allows you to compare schools based on the factors that matter the most to you. When you have some time, check it out - you may want to bookmark the link so you don’t forget it.
Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $48-$75k
The following schools top our list of the Best Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $48-$75k.
Top 25 Best Value Bachelor’s Degree Colleges for Economics (Income $48-$75k) in the Great Lakes Region
You’ll join some of the best and brightest minds around if you attend University of Chicago. The school came in at #1 for the Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $48-$75k. Located in Chicago, Illinois, this fairly large private not-for-profit school awarded 423 degrees to qualified bachelors’s economics students in 2019-2020.
As a testament to the quality of education offered at UChicago, the school also landed the #1 spot in our “Best Economics Bachelor’s Degree Schools in the Great Lakes Region” ranking. It costs about $7,934 for Great Lakes Region Bachelor’s Degree Economics students whose families make $48-$75k per year to attend UChicago.
Since the school has a student-to-faculty ratio of 5 to 1, those pursuing a degree will have more opportunities to interact with their professors. The low 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%. Students who start out at the school are likely to stick around. The freshman retention rate is 100%.
Out of the 99 schools in the Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $48-$75k that were part of this year’s ranking, Northwestern University landed the #2 spot on the list. This large school is located in Evanston, Illinois, and it awarded 338 bachelors’s economics degrees in 2019-2020.
As a testament to the quality of education offered at Northwestern, the school also landed the #2 spot in our “Best Economics Bachelor’s Degree Schools in the Great Lakes Region” ranking. The yearly cost to attend Northwestern is $6,452 for great lakes region bachelor’s degree economics students whose families make $48-$75k.
The school has an impressive student loan default rate. It’s only 0.8%, which is much lower than the national rate of 10.1%. The impressive student-to-faculty ratio of 6 to 1 means that students may have more opportunities to work more closely with their professors than they would at other schools. Students who start out at the school are likely to stick around. The freshman retention rate is 97%.
You’ll be in good company if you decide to attend University of Michigan - Ann Arbor. It ranked #3 on our 2022 Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $48-$75k list. Located in Ann Arbor, Michigan, this large public school handed out 586 diplomas to qualified bachelors’s economics students in 2019-2020.
U-M also took the #4 spot in our “Best Economics Bachelor’s Degree Schools in the Great Lakes Region” ranking. The estimated yearly cost for University of Michigan - Ann Arbor is $10,028 for Great Lakes Region Bachelor’s Degree Economics students whose families make $48-$75k.
The school has an excellent freshman retention rate of 96%, which means students like the school well enough to return for a second year. The school has an impressive student loan default rate. It’s only 1.2%, which is much lower than the national rate of 10.1%.
Read more about Economics at University of Michigan - Ann Arbor
You’ll join some of the best and brightest minds around if you attend University of Notre Dame. The school came in at #4 for the Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $48-$75k. Located in Notre Dame, Indiana, this fairly large private not-for-profit school awarded 243 diplomas to qualified bachelors’s economics students in 2019-2020.
As a testament to the quality of education offered at Notre Dame, the school also landed the #3 spot in our “Best Economics Bachelor’s Degree Schools in the Great Lakes Region” ranking. It costs about $17,768 for great lakes region bachelor’s degree economics students whose families make $48-$75k per year to attend Notre Dame.
Students who start out at the school are likely to stick around. The freshman retention rate is 97%. The school has an impressive student loan default rate. It’s only 0.7%, which is much lower than the national rate of 10.1%. The impressive 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.
Out of the 99 schools in the Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $48-$75k that were part of this year’s ranking, University of Wisconsin - Madison landed the #5 spot on the list. University of Wisconsin - Madison is a large school located in Madison, Wisconsin that handed out 566 bachelors’s economics degrees in 2019-2020.
UW - Madison did well in our major quality rankings, too. It placed #6 on our “Best Economics Bachelor’s Degree Schools in the Great Lakes Region” list. It costs about $13,227 for Great Lakes Region Bachelor’s Degree Economics students whose families make $48-$75k per year to attend University of Wisconsin - Madison.
Students who start out at the school are likely to stick around. The freshman retention rate is 95%. The student loan default rate at the school is 0.8%, which is quite low when compared to the national default rate of 10.1%.
Purdue University - Main Campus landed the #6 spot on the 2022 Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $48-$75k ranking. Purdue University - Main Campus is a public institution located in West Lafayette, Indiana. The school has a large population, and it awarded 107 bachelors’s degrees in 2019-2020.
Purdue not only placed well in this ranking. It is also #16 on our “Best Economics Bachelor’s Degree Schools in the Great Lakes Region” list. The yearly cost to attend Purdue is $9,654 for great lakes region bachelor’s degree economics students whose families make $48-$75k.
Students who start out at the school are likely to stick around. The freshman retention rate is 93%. The low student loan default rate of 2.2% 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 Purdue University - Main Campus
University of Illinois at Urbana-Champaign came in at #7 in this year’s edition of the Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $48-$75k ranking. University of Illinois at Urbana-Champaign is located in Champaign, Illinois and, has a large student population. In 2019-2020, this school awarded 490 bachelors’s economics degrees to qualified students.
UIUC also took the #5 spot in our “Best Economics Bachelor’s Degree Schools in the Great Lakes Region” ranking. It costs about $13,351 for Great Lakes Region Bachelor’s Degree Economics students whose families make $48-$75k per year to attend University of Illinois at Urbana-Champaign.
Students who start out at the school are likely to stick around. The freshman retention rate is 94%. The student loan default rate at the school is 2.4%, which is quite low when compared to the national default rate of 10.1%.
Indiana University - Bloomington landed the #8 spot on the 2022 Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $48-$75k ranking. Bloomington, Indiana is the setting for this large institution of higher learning. The public school handed out bachelors’s economics degrees to 133 students in 2019-2020.
IU Bloomington not only placed well in this ranking. It is also #18 on our “Best Economics Bachelor’s Degree Schools in the Great Lakes Region” list. The estimated yearly cost for IU Bloomington is $12,060 for great lakes region bachelor’s degree economics students whose families make $48-$75k.
The student loan default rate at the school is 4.3%, 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 91%.
Read full report on Economics at Indiana University - Bloomington
Ohio State University - Main Campus landed the #9 spot on the 2022 Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $48-$75k ranking. Located in Columbus, Ohio, this large public school handed out 304 diplomas to qualified bachelors’s economics students in 2019-2020.
Ohio State also made our “Best Economics Bachelor’s Degree Schools in the Great Lakes Region” list, coming in at #14. The estimated yearly cost for Ohio State is $13,982 for great lakes region bachelor’s degree economics students whose families make $48-$75k.
With a freshman retention rate of 94%, the school does an excellent job of retaining its students. The low student loan default rate of 4.4% 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%.
University of Wisconsin - La Crosse did quite well in the 2022 Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $48-$75k ranking, coming in at #10. University of Wisconsin - La Crosse is a public institution located in La Crosse, Wisconsin. The school has a fairly large population, and it awarded 45 bachelors’s degrees in 2019-2020.
UW - La Crosse did well in our major quality rankings, too. It placed #20 on our “Best Economics Bachelor’s Degree Schools in the Great Lakes Region” list. It costs about $13,304 for Great Lakes Region Bachelor’s Degree Economics students whose families make $48-$75k per year to attend University of Wisconsin - La Crosse.
Students who start out at the school are likely to stick around. The freshman retention rate is 86%. The school has an impressive student loan default rate. It’s only 1.6%, which is much lower than the national rate of 10.1%.
Beloit College ranked #11 on this year’s Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $48-$75k list. This small school is located in Beloit, Wisconsin, and it awarded 20 bachelors’s economics degrees in 2019-2020.
It costs about $10,769 for Great Lakes Region Bachelor’s Degree Economics students whose families make $48-$75k per year to attend Beloit College.
With a student-to-faculty ratio of 10 to 1, it’s easy to see that the school is committed to helping their undergraduates succeed. Students who start out at the school are likely to stick around. The freshman retention rate is 90%. The school has an impressive student loan default rate. It’s only 1.9%, which is much lower than the national rate of 10.1%.
University of Illinois at Springfield came in at #12 in this year’s edition of the Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $48-$75k ranking. Located in Springfield, Illinois, this small public school awarded 4 degrees to qualified bachelors’s economics students in 2019-2020.
The estimated yearly cost for University of Illinois at Springfield is $11,857 for Great Lakes Region Bachelor’s Degree Economics students whose families make $48-$75k.
Read more about Economics at University of Illinois at Springfield
University of Wisconsin - River Falls ranked #13 on this year’s Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $48-$75k list. Located in River Falls, Wisconsin, this medium-sized public school handed out 17 degrees to qualified bachelors’s economics students in 2019-2020.
As a testament to the quality of education offered at UW - River Falls, the school also landed the #21 spot in our “Best Economics Bachelor’s Degree Schools in the Great Lakes Region” ranking. The yearly cost to attend UW - River Falls is $13,474 for Great Lakes Region Bachelor’s Degree Economics students whose families make $48-$75k.
The student loan default rate at the school is 2.7%, which is quite low when compared to the national default rate of 10.1%.
Denison University did quite well in the 2022 Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $48-$75k ranking, coming in at #14. Granville, Ohio is the setting for this small institution of higher learning. The private not-for-profit school handed out bachelors’s economics degrees to 78 students in 2019-2020.
Denison not only placed well in this ranking. It is also #8 on our “Best Economics Bachelor’s Degree Schools in the Great Lakes Region” list. The estimated yearly cost for Denison University is $22,652 for Great Lakes Region Bachelor’s Degree Economics students whose families make $48-$75k.
The school has an impressive student loan default rate. It’s only 2.4%, which is much lower than the national rate of 10.1%. Since the school has a student-to-faculty ratio of 9 to 1, those pursuing a degree will have more opportunities to interact with their professors. Students who start out at the school are likely to stick around. The freshman retention rate is 85%.
Wheaton College Illinois ranked #15 on this year’s Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $48-$75k list. Wheaton College Illinois is located in Wheaton, Illinois and, has a small student population. In 2019-2020, this school awarded 40 bachelors’s economics degrees to qualified students.
In addition to being on our great lakes region bachelor’s degree economics students whose families make $48-$75k list, Wheaton College Illinois has also earned the #9 rank in our “Best Economics Bachelor’s Degree Schools in the Great Lakes Region” ranking. It costs about $19,691 for great lakes region bachelor’s degree economics students whose families make $48-$75k per year to attend Wheaton College Illinois.
Students who start out at the school are likely to stick around. The freshman retention rate is 90%. The school has an impressive student loan default rate. It’s only 0.7%, which is much lower than the national rate of 10.1%. The student-to-faculty ratio of 10 to 1 is a sign that students will have more opportunities to engage with their professors one-on-one.
University of Illinois at Chicago came in at #16 in this year’s edition of the Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $48-$75k ranking. Chicago, Illinois is the setting for this large institution of higher learning. The public school handed out bachelors’s economics degrees to 99 students in 2019-2020.
The estimated yearly cost for UIC is $13,683 for great lakes region bachelor’s degree economics students whose families make $48-$75k.
The low student loan default rate of 3.4% 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%.
University of Wisconsin - Whitewater came in at #17 in this year’s edition of the Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $48-$75k ranking. This fairly large school is located in Whitewater, Wisconsin, and it awarded 25 bachelors’s economics degrees in 2019-2020.
The estimated yearly cost for UW - Whitewater is $14,941 for great lakes region bachelor’s degree economics students whose families make $48-$75k.
University of Wisconsin - Oshkosh landed the #18 spot on the 2022 Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $48-$75k ranking. Located in Oshkosh, Wisconsin, this fairly large public school awarded 57 diplomas to qualified bachelors’s economics students in 2019-2020.
The estimated yearly cost for UW Oshkosh is $15,236 for great lakes region bachelor’s degree economics students whose families make $48-$75k.
Read more about Economics at University of Wisconsin - Oshkosh
University of Wisconsin - Eau Claire landed the #19 spot on the 2022 Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $48-$75k ranking. UW - Eau Claire is a fairly large school located in Eau Claire, Wisconsin that handed out 43 bachelors’s economics degrees in 2019-2020.
The yearly cost to attend UW - Eau Claire is $14,887 for Great Lakes Region Bachelor’s Degree Economics students whose families make $48-$75k.
Read more about Economics at University of Wisconsin - Eau Claire
University of Wisconsin - Green Bay landed the #20 spot on the 2022 Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $48-$75k ranking. UW - Green Bay is a medium-sized school located in Green Bay, Wisconsin that handed out 4 bachelors’s economics degrees in 2019-2020.
The estimated yearly cost for University of Wisconsin - Green Bay is $14,584 for Great Lakes Region Bachelor’s Degree Economics students whose families make $48-$75k.
Indiana University - Purdue University - Indianapolis ranked #21 on this year’s Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $48-$75k list. Indiana University - Purdue University - Indianapolis is a large public school situated in Indianapolis, Indiana. It awarded 24 bachelors’s economics degrees in 2019-2020.
It costs about $12,314 for Great Lakes Region Bachelor’s Degree Economics students whose families make $48-$75k per year to attend Indiana University - Purdue University - Indianapolis.
Full Indiana University - Purdue University - Indianapolis Economics Report
With a ranking of #22, University of Michigan - Dearborn did quite well on the 2022 Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $48-$75k list. University of Michigan - Dearborn is a public institution located in Dearborn, Michigan. The school has a medium-sized population, and it awarded 27 bachelors’s degrees in 2019-2020.
The estimated yearly cost for UM Dearborn is $10,553 for Great Lakes Region Bachelor’s Degree Economics students whose families make $48-$75k.
The low student loan default rate of 4.5% 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 full report on Economics at University of Michigan - Dearborn
Case Western Reserve University came in at #23 in this year’s edition of the Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $48-$75k ranking. Case Western is a private not-for-profit institution located in Cleveland, Ohio. The school has a fairly large population, and it awarded 63 bachelors’s degrees in 2019-2020.
As a testament to the quality of education offered at Case Western, the school also landed the #11 spot in our “Best Economics Bachelor’s Degree Schools in the Great Lakes Region” ranking. It costs about $22,236 for great lakes region bachelor’s degree economics students whose families make $48-$75k per year to attend Case Western.
The school has an impressive student loan default rate. It’s only 1.4%, which is much lower than the national rate of 10.1%. With a freshman retention rate of 93%, the school does an excellent job of retaining its students.
Read full report on Economics at Case Western Reserve University
University of Wisconsin - Stevens Point came in at #24 in this year’s edition of the Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $48-$75k ranking. This medium-sized school is located in Stevens Point, Wisconsin, and it awarded 8 bachelors’s economics degrees in 2019-2020.
The estimated yearly cost for University of Wisconsin - Stevens Point is $14,165 for great lakes region bachelor’s degree economics students whose families make $48-$75k.
Read full report on Economics at University of Wisconsin - Stevens Point
Southern Illinois University Edwardsville did quite well in the 2022 Best Value Economics Schools for a Bachelor’s in the Great Lakes Region For Those Making $48-$75k ranking, coming in at #25. Edwardsville, Illinois is the setting for this fairly large institution of higher learning. The public school handed out bachelors’s economics degrees to 9 students in 2019-2020.
It costs about $13,705 for Great Lakes Region Bachelor’s Degree Economics students whose families make $48-$75k per year to attend SIUE.
Read full report on Economics at Southern Illinois University Edwardsville
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Notes and References
References
- 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).
- Information about the national average student loan default rate is from the U.S. Department of Education and refers to data about the 2016 borrower cohort tracking period for which the cohort default rate (CDR) was 10.1%.
Read more about our data sources and methodologies
Footnotes
- *Average salary, average net price, and average tuition and fees are for the top schools only.
- Some schools otherwise deserving of recognition may have been removed from this ranking in the event that new data identified post-publication warranted it, or at the request of the school.
Credits
- Credit for the banner image above goes to pixabay.
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