2022 Best Value Bachelor’s Degree Colleges for Economics (Income $48-$75k) in Illinois
With all of the options students have for higher education today, it can be tough to choose which direction to take. Our mission at College Factual is to arm you with as much information as we can to help you make that decision. Our “Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $48-$75k” ranking is one tool we have developed to help in this regard.
Economics is the 18th most popular major in the country with 48,831 degrees awarded in 2019-2020. 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 Illinois, there were 2,106 economics graduates with average earnings and debt of $49,350 and $22,044 respectively. At the bachelor’s degree level specifically, there were 1,749 economics graduates with average earnings and debt of $38,319 and $24,183 respectively.
For this year’s “Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $48-$75k” ranking, we looked at 27 colleges that offer a degree in economics. This ranking identifies schools with high-quality economics programs that also have a lower cost than schools of similar quality.
Some of the factors we look at when determining these rankings are overall quality of the economics program at the school and the cost of the school after aid is awarded among other things. Check out our ranking methodology for more information.
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Since picking the right college can be one of the most important decisions of your life, we’ve developed the “Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $48-$75k” ranking, along with many other major-related rankings, to help you make that decision.
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Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $48-$75k
The colleges and universities below are the best for illinois bachelor’s degree economics students whose families make $48-$75k.
Top 25 Best Value Bachelor’s Degree Colleges for Economics (Income $48-$75k) in Illinois
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 Illinois For Those Making $48-$75k. Chicago, Illinois is the setting for this fairly large institution of higher learning. The private not-for-profit school handed out bachelors’s economics degrees to 423 students in 2019-2020.
UChicago did well in our major quality rankings, too. It placed #1 on our “Best Economics Bachelor’s Degree Schools in Illinois” list. The estimated yearly cost for UChicago is $7,934 for Illinois Bachelor’s Degree Economics students whose families make $48-$75k.
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%. With a student-to-faculty ratio of 5 to 1, it’s easy to see that the school is committed to helping their undergraduates succeed. With a freshman retention rate of 100%, the school does an excellent job of retaining its students.
Out of the 27 schools in the Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $48-$75k that were part of this year’s ranking, Northwestern University landed the #2 spot on the list. Northwestern University is a large school located in Evanston, Illinois that handed out 338 bachelors’s economics degrees in 2019-2020.
In addition to being on our illinois bachelor’s degree economics students whose families make $48-$75k list, Northwestern has also earned the #2 rank in our “Best Economics Bachelor’s Degree Schools in Illinois” ranking. The estimated yearly cost for Northwestern University is $6,452 for Illinois Bachelor’s Degree Economics students whose families make $48-$75k.
The low student loan default rate of 0.8% 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%. Students who start out at the school are likely to stick around. The freshman retention rate is 97%. With a student-to-faculty ratio of 6 to 1, it’s easy to see that the school is committed to helping their undergraduates succeed.
You’ll join some of the best and brightest minds around if you attend University of Illinois at Urbana-Champaign. The school came in at #3 for the Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $48-$75k. This large school is located in Champaign, Illinois, and it awarded 490 bachelors’s economics degrees in 2019-2020.
UIUC also made our “Best Economics Bachelor’s Degree Schools in Illinois” list, coming in at #3. The estimated yearly cost for University of Illinois at Urbana-Champaign is $13,351 for illinois 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 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%.
You’ll join some of the best and brightest minds around if you attend University of Illinois at Springfield. The school came in at #4 for the Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $48-$75k. UIS is a small school located in Springfield, Illinois that handed out 4 bachelors’s economics degrees in 2019-2020.
As a testament to the quality of education offered at UIS, the school also landed the #13 spot in our “Best Economics Bachelor’s Degree Schools in Illinois” ranking. The yearly cost to attend University of Illinois at Springfield is $11,857 for Illinois Bachelor’s Degree Economics students whose families make $48-$75k.
You’ll join some of the best and brightest minds around if you attend Wheaton College Illinois. The school came in at #5 for the Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $48-$75k. Wheaton College Illinois is a private not-for-profit institution located in Wheaton, Illinois. The school has a small population, and it awarded 40 bachelors’s degrees in 2019-2020.
Wheaton College Illinois did well in our major quality rankings, too. It placed #4 on our “Best Economics Bachelor’s Degree Schools in Illinois” list. The yearly cost to attend Wheaton College Illinois is $19,691 for Illinois Bachelor’s Degree Economics students whose families make $48-$75k.
With a freshman retention rate of 90%, the school does an excellent job of retaining its students. 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. 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%.
With a ranking of #6, University of Illinois at Chicago did quite well on the 2022 Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $48-$75k list. UIC is located in Chicago, Illinois and, has a large student population. In 2019-2020, this school awarded 99 bachelors’s economics degrees to qualified students.
UIC also made our “Best Economics Bachelor’s Degree Schools in Illinois” list, coming in at #7. The estimated yearly cost for University of Illinois at Chicago is $13,683 for illinois 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%.
Read more about Economics at University of Illinois at Chicago
Southern Illinois University Edwardsville did quite well in the 2022 Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $48-$75k ranking, coming in at #7. Southern Illinois University Edwardsville is a fairly large school located in Edwardsville, Illinois that handed out 9 bachelors’s economics degrees in 2019-2020.
As a testament to the quality of education offered at SIUE, the school also landed the #19 spot in our “Best Economics Bachelor’s Degree Schools in Illinois” ranking. The estimated yearly cost for Southern Illinois University Edwardsville is $13,705 for Illinois Bachelor’s Degree Economics students whose families make $48-$75k.
Eastern Illinois University came in at #8 in this year’s edition of the Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $48-$75k ranking. Eastern Illinois University is a medium-sized school located in Charleston, Illinois that handed out 3 bachelors’s economics degrees in 2019-2020.
In addition to being on our illinois bachelor’s degree economics students whose families make $48-$75k list, EIU has also earned the #21 rank in our “Best Economics Bachelor’s Degree Schools in Illinois” ranking. The yearly cost to attend EIU is $13,560 for Illinois Bachelor’s Degree Economics students whose families make $48-$75k.
Northern Illinois University ranked #9 on this year’s Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $48-$75k list. Northern Illinois University is located in Dekalb, Illinois and, has a fairly large student population. In 2019-2020, this school awarded 24 bachelors’s economics degrees to qualified students.
NIU did well in our major quality rankings, too. It placed #18 on our “Best Economics Bachelor’s Degree Schools in Illinois” list. The estimated yearly cost for NIU is $18,346 for Illinois Bachelor’s Degree Economics students whose families make $48-$75k.
Knox College came in at #10 in this year’s edition of the Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $48-$75k ranking. Knox College is a small private not-for-profit school situated in Galesburg, Illinois. It awarded 18 bachelors’s economics degrees in 2019-2020.
Knox also made our “Best Economics Bachelor’s Degree Schools in Illinois” list, coming in at #12. The estimated yearly cost for Knox is $19,653 for illinois bachelor’s degree economics students whose families make $48-$75k.
Since the school has a student-to-faculty ratio of 10 to 1, those pursuing a degree will have more opportunities to interact with their professors. The student loan default rate at the school is 4.8%, which is quite low when compared to the national default rate of 10.1%.
Lake Forest College came in at #11 in this year’s edition of the Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $48-$75k ranking. This small school is located in Lake Forest, Illinois, and it awarded 21 bachelors’s economics degrees in 2019-2020.
Lake Forest not only placed well in this ranking. It is also #6 on our “Best Economics Bachelor’s Degree Schools in Illinois” list. The estimated yearly cost for Lake Forest College is $24,683 for illinois bachelor’s degree economics students whose families make $48-$75k.
The school has an impressive student loan default rate. It’s only 2.5%, which is much lower than the national rate of 10.1%.
Western Illinois University ranked #12 on this year’s Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $48-$75k list. This medium-sized school is located in Macomb, Illinois, and it awarded 8 bachelors’s economics degrees in 2019-2020.
WIU also took the #17 spot in our “Best Economics Bachelor’s Degree Schools in Illinois” ranking. The yearly cost to attend Western Illinois University is $15,912 for illinois bachelor’s degree economics students whose families make $48-$75k.
With a ranking of #13, Southern Illinois University Carbondale did quite well on the 2022 Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $48-$75k list. Southern Illinois University Carbondale is a fairly large public school situated in Carbondale, Illinois. It awarded 13 bachelors’s economics degrees in 2019-2020.
As a testament to the quality of education offered at SIUC, the school also landed the #24 spot in our “Best Economics Bachelor’s Degree Schools in Illinois” ranking. It costs about $14,985 for Illinois Bachelor’s Degree Economics students whose families make $48-$75k per year to attend Southern Illinois University Carbondale.
Augustana College landed the #14 spot on the 2022 Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $48-$75k ranking. Augustana is located in Rock Island, Illinois and, has a small student population. In 2019-2020, this school awarded 8 bachelors’s economics degrees to qualified students.
In addition to being on our illinois bachelor’s degree economics students whose families make $48-$75k list, Augustana has also earned the #8 rank in our “Best Economics Bachelor’s Degree Schools in Illinois” ranking. It costs about $21,453 for Illinois Bachelor’s Degree Economics students whose families make $48-$75k per year to attend Augustana.
The school has an impressive student loan default rate. It’s only 3.4%, which is much lower than the national rate of 10.1%. The school has an excellent freshman retention rate of 85%, which means students like the school well enough to return for a second year.
Olivet Nazarene University did quite well in the 2022 Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $48-$75k ranking, coming in at #15. Olivet Nazarene is a private not-for-profit institution located in Bourbonnais, Illinois. The school has a small population, and it awarded 33 bachelors’s degrees in 2019-2020.
Olivet Nazarene not only placed well in this ranking. It is also #16 on our “Best Economics Bachelor’s Degree Schools in Illinois” list. The estimated yearly cost for Olivet Nazarene is $17,841 for illinois bachelor’s degree economics students whose families make $48-$75k.
The school has an impressive student loan default rate. It’s only 3.4%, which is much lower than the national rate of 10.1%.
Illinois State University ranked #16 on this year’s Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $48-$75k list. Illinois State is a large public school situated in Normal, Illinois. It awarded 46 bachelors’s economics degrees in 2019-2020.
Illinois State not only placed well in this ranking. It is also #10 on our “Best Economics Bachelor’s Degree Schools in Illinois” list. The estimated yearly cost for Illinois State University is $19,080 for illinois bachelor’s degree economics students whose families make $48-$75k.
The student loan default rate at the school is 4.4%, which is quite low when compared to the national default rate of 10.1%.
Elmhurst University landed the #17 spot on the 2022 Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $48-$75k ranking. Located in Elmhurst, Illinois, this small private not-for-profit school handed out 11 degrees to qualified bachelors’s economics students in 2019-2020.
Elmhurst did well in our major quality rankings, too. It placed #15 on our “Best Economics Bachelor’s Degree Schools in Illinois” list. The estimated yearly cost for Elmhurst University is $19,703 for illinois bachelor’s degree economics students whose families make $48-$75k.
The student loan default rate at the school is 3.0%, which is quite low when compared to the national default rate of 10.1%.
Dominican University did quite well in the 2022 Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $48-$75k ranking, coming in at #18. This small school is located in River Forest, Illinois, and it awarded 6 bachelors’s economics degrees in 2019-2020.
Dominican U did well in our major quality rankings, too. It placed #14 on our “Best Economics Bachelor’s Degree Schools in Illinois” list. It costs about $18,582 for illinois bachelor’s degree economics students whose families make $48-$75k per year to attend Dominican U.
The impressive student-to-faculty ratio of 10 to 1 means that students may have more opportunities to work more closely with their professors than they would at other schools.
Illinois College came in at #19 in this year’s edition of the Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $48-$75k ranking. This small school is located in Jacksonville, Illinois, and it awarded 14 bachelors’s economics degrees in 2019-2020.
Illinois College also took the #20 spot in our “Best Economics Bachelor’s Degree Schools in Illinois” ranking. The estimated yearly cost for Illinois College is $14,942 for illinois bachelor’s degree economics students whose families make $48-$75k.
Northeastern Illinois University ranked #20 on this year’s Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $48-$75k list. Northeastern Illinois University is a medium-sized school located in Chicago, Illinois that handed out 17 bachelors’s economics degrees in 2019-2020.
Northeastern Illinois University not only placed well in this ranking. It is also #25 on our “Best Economics Bachelor’s Degree Schools in Illinois” list. The yearly cost to attend Northeastern Illinois University is $18,180 for illinois bachelor’s degree economics students whose families make $48-$75k.
North Central College landed the #21 spot on the 2022 Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $48-$75k ranking. Naperville, Illinois is the setting for this small institution of higher learning. The private not-for-profit school handed out bachelors’s economics degrees to 31 students in 2019-2020.
As a testament to the quality of education offered at North Central, the school also landed the #9 spot in our “Best Economics Bachelor’s Degree Schools in Illinois” ranking. The estimated yearly cost for North Central College is $23,353 for illinois bachelor’s degree economics students whose families make $48-$75k.
The student loan default rate at the school is 3.9%, which is quite low when compared to the national default rate of 10.1%.
McKendree University landed the #22 spot on the 2022 Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $48-$75k ranking. McKendree University is a private not-for-profit institution located in Lebanon, Illinois. The school has a small population, and it awarded 17 bachelors’s degrees in 2019-2020.
McKendree also took the #23 spot in our “Best Economics Bachelor’s Degree Schools in Illinois” ranking. The yearly cost to attend McKendree is $19,851 for Illinois Bachelor’s Degree Economics students whose families make $48-$75k.
Bradley University ranked #23 on this year’s Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $48-$75k list. Bradley is a private not-for-profit institution located in Peoria, Illinois. The school has a medium-sized population, and it awarded 5 bachelors’s degrees in 2019-2020.
As a testament to the quality of education offered at Bradley, the school also landed the #11 spot in our “Best Economics Bachelor’s Degree Schools in Illinois” ranking. It costs about $22,865 for illinois bachelor’s degree economics students whose families make $48-$75k per year to attend Bradley.
The school has an excellent freshman retention rate of 86%, which means students like the school well enough to return for a second year. The student loan default rate at the school is 2.5%, which is quite low when compared to the national default rate of 10.1%.
Illinois Wesleyan University came in at #24 in this year’s edition of the Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $48-$75k ranking. Illinois Wesleyan is located in Bloomington, Illinois and, has a small student population. In 2019-2020, this school awarded 14 bachelors’s economics degrees to qualified students.
As a testament to the quality of education offered at Illinois Wesleyan, the school also landed the #5 spot in our “Best Economics Bachelor’s Degree Schools in Illinois” ranking. The yearly cost to attend Illinois Wesleyan is $23,309 for Illinois Bachelor’s Degree Economics students whose families make $48-$75k.
With a freshman retention rate of 87%, the school does an excellent job of retaining its students. The low student loan default rate of 1.4% 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%.
With a ranking of #25, Roosevelt University did quite well on the 2022 Best Value Economics Schools for a Bachelor’s in Illinois For Those Making $48-$75k list. Located in Chicago, Illinois, this small private not-for-profit school awarded 5 degrees to qualified bachelors’s economics students in 2019-2020.
The yearly cost to attend Roosevelt is $21,870 for Illinois Bachelor’s Degree Economics students whose families make $48-$75k.
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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.
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- Credit for the banner image above goes to pixabay.
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