2022 Best Value Colleges for Economics in Illinois (With Aid)
When it comes to choosing a college, students have a lot of options - but not all of them are good. At College Factual, we’re committed to helping you make that decision by providing information such as that found in our “Best Value Economics Schools in Illinois For Those Getting Aid” ranking.
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.
This year’s “Best Value Economics Schools in Illinois For Those Getting Aid” ranking looked at 27 colleges that offer degrees in a bachelor’s in economics. Not only do the schools that top this list have excellent economics programs, but they also cost less that 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. For more information, check out our ranking methodology.
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Since the program you select can have a significant impact on your future, we’ve developed a number of rankings, including this “Best Value Economics Schools in Illinois For Those Getting Aid” list, to help you choose the best school for you.
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Best Value Economics Schools in Illinois For Those Getting Aid
The colleges and universities below are the best for illinois economics students with aid.
Top 25 Best Value Colleges for Economics in Illinois (With Aid)
Out of the 27 schools in the Best Value Economics Schools in Illinois For Those Getting Aid that were part of this year’s ranking, University of Illinois at Urbana-Champaign landed the #1 spot on the list. Located in Champaign, Illinois, this large public school awarded 581 degrees to qualified ’s economics students in 2019-2020.
UIUC also made our “Best Economics Schools in Illinois” list, coming in at #3. It costs about $15,880 for Illinois Economics students with aid per year to attend University of Illinois at Urbana-Champaign.
The low student loan default rate of 2.4% 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 freshman retention rate of 94%, the school does an excellent job of retaining its students.
Read full report on Economics at University of Illinois at Urbana-Champaign
You’ll join some of the best and brightest minds around if you attend University of Illinois at Chicago. The school came in at #2 for the Best Value Economics Schools in Illinois For Those Getting Aid. UIC is a large public school situated in Chicago, Illinois. It awarded 128 ’s economics degrees in 2019-2020.
UIC also took the #8 spot in our “Best Economics Schools in Illinois” ranking. The estimated yearly cost for University of Illinois at Chicago is $13,312 for illinois economics students with aid.
The student loan default rate at the school is 3.4%, which is quite low when compared to the national default rate of 10.1%.
Read more about Economics at University of Illinois at Chicago
You’ll join some of the best and brightest minds around if you attend University of Illinois at Springfield. The school came in at #3 for the Best Value Economics Schools in Illinois For Those Getting Aid. Springfield, Illinois is the setting for this small institution of higher learning. The public school handed out ’s economics degrees to 4 students in 2019-2020.
In addition to being on our illinois economics students with aid list, UIS has also earned the #13 rank in our “Best Economics Schools in Illinois” ranking. The estimated yearly cost for UIS is $12,477 for Illinois Economics students with aid.
Out of the 27 schools in the Best Value Economics Schools in Illinois For Those Getting Aid that were part of this year’s ranking, Northwestern University landed the #4 spot on the list. Northwestern is located in Evanston, Illinois and, has a large student population. In 2019-2020, this school awarded 392 ’s economics degrees to qualified students.
As a testament to the quality of education offered at Northwestern, the school also landed the #2 spot in our “Best Economics Schools in Illinois” ranking. It costs about $24,664 for illinois economics students with aid per year to attend Northwestern University.
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. With a freshman retention rate of 97%, the school does an excellent job of retaining its students. 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%.
You’ll be in good company if you decide to attend Eastern Illinois University. It ranked #5 on our 2022 Best Value Economics Schools in Illinois For Those Getting Aid list. This medium-sized school is located in Charleston, Illinois, and it awarded 14 ’s economics degrees in 2019-2020.
EIU also took the #21 spot in our “Best Economics Schools in Illinois” ranking. The estimated yearly cost for Eastern Illinois University is $14,607 for Illinois Economics students with aid.
Read full report on Economics at Eastern Illinois University
Southern Illinois University Edwardsville ranked #6 on this year’s Best Value Economics Schools in Illinois For Those Getting Aid list. Southern Illinois University Edwardsville is a public institution located in Edwardsville, Illinois. The school has a fairly large population, and it awarded 9 ’s degrees in 2019-2020.
SIUE also took the #18 spot in our “Best Economics Schools in Illinois” ranking. The estimated yearly cost for Southern Illinois University Edwardsville is $14,423 for illinois economics students with aid.
Read more about Economics at Southern Illinois University Edwardsville
Northern Illinois University ranked #7 on this year’s Best Value Economics Schools in Illinois For Those Getting Aid list. NIU is a public institution located in Dekalb, Illinois. The school has a fairly large population, and it awarded 30 ’s degrees in 2019-2020.
As a testament to the quality of education offered at NIU, the school also landed the #19 spot in our “Best Economics Schools in Illinois” ranking. The yearly cost to attend Northern Illinois University is $18,259 for Illinois Economics students with aid.
Northeastern Illinois University landed the #8 spot on the 2022 Best Value Economics Schools in Illinois For Those Getting Aid ranking. This medium-sized school is located in Chicago, Illinois, and it awarded 17 ’s economics degrees in 2019-2020.
Northeastern Illinois University also made our “Best Economics Schools in Illinois” list, coming in at #25. The estimated yearly cost for Northeastern Illinois University is $15,843 for Illinois Economics students with aid.
Southern Illinois University Carbondale came in at #9 in this year’s edition of the Best Value Economics Schools in Illinois For Those Getting Aid ranking. Southern Illinois University Carbondale is located in Carbondale, Illinois and, has a fairly large student population. In 2019-2020, this school awarded 23 ’s economics degrees to qualified students.
SIUC did well in our major quality rankings, too. It placed #23 on our “Best Economics Schools in Illinois” list. The estimated yearly cost for Southern Illinois University Carbondale is $16,945 for Illinois Economics students with aid.
With a ranking of #10, Western Illinois University did quite well on the 2022 Best Value Economics Schools in Illinois For Those Getting Aid list. This medium-sized school is located in Macomb, Illinois, and it awarded 18 ’s economics degrees in 2019-2020.
WIU also took the #24 spot in our “Best Economics Schools in Illinois” ranking. The yearly cost to attend Western Illinois University is $16,210 for illinois economics students with aid.
Dominican University came in at #11 in this year’s edition of the Best Value Economics Schools in Illinois For Those Getting Aid ranking. Dominican University is located in River Forest, Illinois and, has a small student population. In 2019-2020, this school awarded 6 ’s economics degrees to qualified students.
Dominican U also made our “Best Economics Schools in Illinois” list, coming in at #14. It costs about $19,268 for illinois economics students with aid per year to attend Dominican U.
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.
Illinois College ranked #12 on this year’s Best Value Economics Schools in Illinois For Those Getting Aid list. Illinois College is a small school located in Jacksonville, Illinois that handed out 14 ’s economics degrees in 2019-2020.
Illinois College also took the #20 spot in our “Best Economics Schools in Illinois” ranking. The estimated yearly cost for Illinois College is $16,562 for illinois economics students with aid.
University of Chicago did quite well in the 2022 Best Value Economics Schools in Illinois For Those Getting Aid ranking, coming in at #13. University of Chicago is a private not-for-profit institution located in Chicago, Illinois. The school has a fairly large population, and it awarded 525 ’s degrees in 2019-2020.
UChicago also made our “Best Economics Schools in Illinois” list, coming in at #1. The estimated yearly cost for UChicago is $27,315 for Illinois Economics students with aid.
The student loan default rate at the school is 0.6%, which is quite low when compared to the national default rate of 10.1%. 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 school has an excellent freshman retention rate of 100%, which means students like the school well enough to return for a second year.
Illinois State University did quite well in the 2022 Best Value Economics Schools in Illinois For Those Getting Aid ranking, coming in at #14. Illinois State University is a large school located in Normal, Illinois that handed out 60 ’s economics degrees in 2019-2020.
As a testament to the quality of education offered at Illinois State, the school also landed the #10 spot in our “Best Economics Schools in Illinois” ranking. The yearly cost to attend Illinois State is $20,895 for illinois economics students with aid.
The school has an impressive student loan default rate. It’s only 4.4%, which is much lower than the national rate of 10.1%.
Olivet Nazarene University ranked #15 on this year’s Best Value Economics Schools in Illinois For Those Getting Aid list. This small school is located in Bourbonnais, Illinois, and it awarded 33 ’s economics degrees in 2019-2020.
As a testament to the quality of education offered at Olivet Nazarene, the school also landed the #16 spot in our “Best Economics Schools in Illinois” ranking. It costs about $20,195 for illinois economics students with aid per year to attend Olivet Nazarene.
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%.
Wheaton College Illinois came in at #16 in this year’s edition of the Best Value Economics Schools in Illinois For Those Getting Aid ranking. This small school is located in Wheaton, Illinois, and it awarded 40 ’s economics degrees in 2019-2020.
Wheaton College Illinois not only placed well in this ranking. It is also #4 on our “Best Economics Schools in Illinois” list. The yearly cost to attend Wheaton College Illinois is $25,358 for illinois economics students with aid.
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 student loan default rate at the school is 0.7%, 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%.
Elmhurst University did quite well in the 2022 Best Value Economics Schools in Illinois For Those Getting Aid ranking, coming in at #17. This small school is located in Elmhurst, Illinois, and it awarded 11 ’s economics degrees in 2019-2020.
Elmhurst also took the #15 spot in our “Best Economics Schools in Illinois” ranking. The yearly cost to attend Elmhurst University is $21,485 for illinois economics students with aid.
The school has an impressive student loan default rate. It’s only 3.0%, which is much lower than the national rate of 10.1%.
Augustana College did quite well in the 2022 Best Value Economics Schools in Illinois For Those Getting Aid ranking, coming in at #18. Rock Island, Illinois is the setting for this small institution of higher learning. The private not-for-profit school handed out ’s economics degrees to 8 students in 2019-2020.
Augustana also made our “Best Economics Schools in Illinois” list, coming in at #7. The yearly cost to attend Augustana College is $23,874 for Illinois Economics students with aid.
With a freshman retention rate of 85%, the school does an excellent job of retaining its students. 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%.
Knox College came in at #19 in this year’s edition of the Best Value Economics Schools in Illinois For Those Getting Aid ranking. Located in Galesburg, Illinois, this small private not-for-profit school handed out 18 degrees to qualified ’s economics students in 2019-2020.
Knox also made our “Best Economics Schools in Illinois” list, coming in at #12. The yearly cost to attend Knox College is $22,292 for Illinois Economics students with aid.
The school has an impressive student loan default rate. It’s only 4.8%, which is much lower than the national rate of 10.1%. 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.
McKendree University landed the #20 spot on the 2022 Best Value Economics Schools in Illinois For Those Getting Aid ranking. Lebanon, Illinois is the setting for this small institution of higher learning. The private not-for-profit school handed out ’s economics degrees to 17 students in 2019-2020.
McKendree also took the #22 spot in our “Best Economics Schools in Illinois” ranking. The yearly cost to attend McKendree University is $19,844 for illinois economics students with aid.
Lake Forest College came in at #21 in this year’s edition of the Best Value Economics Schools in Illinois For Those Getting Aid ranking. This small school is located in Lake Forest, Illinois, and it awarded 21 ’s economics degrees in 2019-2020.
Lake Forest did well in our major quality rankings, too. It placed #6 on our “Best Economics Schools in Illinois” list. The yearly cost to attend Lake Forest is $26,426 for Illinois Economics students with aid.
The low student loan default rate of 2.5% 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%.
North Central College came in at #22 in this year’s edition of the Best Value Economics Schools in Illinois For Those Getting Aid ranking. North Central College is a private not-for-profit institution located in Naperville, Illinois. The school has a small population, and it awarded 31 ’s degrees in 2019-2020.
In addition to being on our illinois economics students with aid list, North Central has also earned the #9 rank in our “Best Economics Schools in Illinois” ranking. The estimated yearly cost for North Central College is $24,786 for Illinois Economics students with aid.
The school has an impressive student loan default rate. It’s only 3.9%, which is much lower than the national rate of 10.1%.
Bradley University landed the #23 spot on the 2022 Best Value Economics Schools in Illinois For Those Getting Aid ranking. Located in Peoria, Illinois, this medium-sized private not-for-profit school awarded 5 diplomas to qualified ’s economics students in 2019-2020.
Bradley also made our “Best Economics Schools in Illinois” list, coming in at #11. It costs about $25,634 for illinois economics students with aid per year to attend Bradley University.
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 2.5%, which is much lower than the national rate of 10.1%.
Illinois Wesleyan University came in at #24 in this year’s edition of the Best Value Economics Schools in Illinois For Those Getting Aid ranking. This small school is located in Bloomington, Illinois, and it awarded 14 ’s economics degrees in 2019-2020.
Illinois Wesleyan also made our “Best Economics Schools in Illinois” list, coming in at #5. The yearly cost to attend Illinois Wesleyan is $26,039 for Illinois Economics students with aid.
The student loan default rate at the school is 1.4%, which is quite low when compared to the national default rate of 10.1%. The school has an excellent freshman retention rate of 87%, which means students like the school well enough to return for a second year.
Roosevelt University did quite well in the 2022 Best Value Economics Schools in Illinois For Those Getting Aid ranking, coming in at #25. Roosevelt University is a small private not-for-profit school situated in Chicago, Illinois. It awarded 6 ’s economics degrees in 2019-2020.
The yearly cost to attend Roosevelt University is $22,749 for Illinois Economics students with aid.
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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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