2022 Best Value Economics Schools for a Bachelor’s in Illinois
It’s not easy to decide which college to attend when there so many options available for students. College Factual was founded, in part, to help students make the decision as to what would be the best school for them. Our “Best Value Economics Schools for a Bachelor’s in Illinois” ranking is part of that endeavor.
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 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” 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. For more information, check out our ranking methodology.
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Best Value Economics Schools for a Bachelor’s in Illinois
The following schools top our list of the Best Best Value Economics Schools for a Bachelor’s in Illinois.
Top 25 Best Value Bachelor’s Degree Colleges for Economics in Illinois
You’ll be in good company if you decide to attend University of Illinois at Urbana-Champaign. It ranked #1 on our 2022 Best Value Economics Schools for a Bachelor’s in Illinois list. Champaign, Illinois is the setting for this large institution of higher learning. The public school handed out bachelors’s economics degrees to 490 students in 2019-2020.
UIUC not only placed well in this ranking. It is also #3 on our “Best Economics Bachelor’s Degree Schools in Illinois” list. The yearly cost to attend UIUC is $15,880 for Illinois Bachelor’s Degree Economics students.
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%. With a freshman retention rate of 94%, the school does an excellent job of retaining its students.
Read more about Economics at University of Illinois at Urbana-Champaign
You’ll be in good company if you decide to attend Illinois State University. It ranked #2 on our 2022 Best Value Economics Schools for a Bachelor’s in Illinois list. Located in Normal, Illinois, this large public school awarded 46 degrees to qualified bachelors’s economics students in 2019-2020.
In addition to being on our illinois bachelor’s degree economics students list, Illinois State has also earned the #10 rank in our “Best Economics Bachelor’s Degree Schools in Illinois” ranking. It costs about $20,895 for illinois bachelor’s degree economics students per year to attend Illinois State University.
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%.
Out of the 27 schools in the Best Value Economics Schools for a Bachelor’s in Illinois that were part of this year’s ranking, University of Illinois at Springfield landed the #3 spot on the list. UIS is a public institution located in Springfield, Illinois. The school has a small population, and it awarded 4 bachelors’s degrees in 2019-2020.
UIS also took the #13 spot in our “Best Economics Bachelor’s Degree Schools in Illinois” ranking. It costs about $12,477 for illinois bachelor’s degree economics students per year to attend University of Illinois at Springfield.
Read more about Economics at University of Illinois at Springfield
You’ll join some of the best and brightest minds around if you attend University of Illinois at Chicago. The school came in at #4 for the Best Value Economics Schools for a Bachelor’s in Illinois. UIC is a large public school situated in Chicago, Illinois. It awarded 99 bachelors’s economics degrees in 2019-2020.
UIC not only placed well in this ranking. It is also #7 on our “Best Economics Bachelor’s Degree Schools in Illinois” list. The estimated yearly cost for University of Illinois at Chicago is $13,312 for illinois bachelor’s degree economics 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%.
Out of the 27 schools in the Best Value Economics Schools for a Bachelor’s in Illinois that were part of this year’s ranking, Southern Illinois University Edwardsville landed the #5 spot on the list. SIUE is a fairly large public school situated in Edwardsville, Illinois. It awarded 9 bachelors’s economics degrees in 2019-2020.
SIUE also made our “Best Economics Bachelor’s Degree Schools in Illinois” list, coming in at #19. The estimated yearly cost for SIUE is $14,423 for Illinois Bachelor’s Degree Economics students.
Read more about Economics at Southern Illinois University Edwardsville
With a ranking of #6, Western Illinois University did quite well on the 2022 Best Value Economics Schools for a Bachelor’s in Illinois list. WIU is a medium-sized public school situated in Macomb, Illinois. It awarded 8 bachelors’s economics degrees in 2019-2020.
As a testament to the quality of education offered at WIU, the school also landed the #17 spot in our “Best Economics Bachelor’s Degree Schools in Illinois” ranking. It costs about $16,210 for illinois bachelor’s degree economics students per year to attend WIU.
Eastern Illinois University landed the #7 spot on the 2022 Best Value Economics Schools for a Bachelor’s in Illinois ranking. Charleston, Illinois is the setting for this medium-sized institution of higher learning. The public school handed out bachelors’s economics degrees to 3 students in 2019-2020.
EIU also took the #21 spot in our “Best Economics Bachelor’s Degree Schools in Illinois” ranking. The estimated yearly cost for Eastern Illinois University is $14,607 for Illinois Bachelor’s Degree Economics students.
Northeastern Illinois University came in at #8 in this year’s edition of the Best Value Economics Schools for a Bachelor’s in Illinois ranking. This medium-sized school is located in Chicago, Illinois, and it awarded 17 bachelors’s economics degrees in 2019-2020.
As a testament to the quality of education offered at Northeastern Illinois University, the school also landed the #25 spot in our “Best Economics Bachelor’s Degree Schools in Illinois” ranking. The yearly cost to attend Northeastern Illinois University is $15,843 for Illinois Bachelor’s Degree Economics students.
Read full report on Economics at Northeastern Illinois University
Northern Illinois University came in at #9 in this year’s edition of the Best Value Economics Schools for a Bachelor’s in Illinois ranking. Located in Dekalb, Illinois, this fairly large public school awarded 24 diplomas to qualified bachelors’s economics students in 2019-2020.
NIU not only placed well in this ranking. It is also #18 on our “Best Economics Bachelor’s Degree Schools in Illinois” list. The yearly cost to attend Northern Illinois University is $18,259 for Illinois Bachelor’s Degree Economics students.
Southern Illinois University Carbondale did quite well in the 2022 Best Value Economics Schools for a Bachelor’s in Illinois ranking, coming in at #10. SIUC is a public institution located in Carbondale, Illinois. The school has a fairly large population, and it awarded 13 bachelors’s degrees in 2019-2020.
SIUC did well in our major quality rankings, too. It placed #24 on our “Best Economics Bachelor’s Degree Schools in Illinois” list. It costs about $16,945 for Illinois Bachelor’s Degree Economics students per year to attend SIUC.
Wheaton College Illinois came in at #11 in this year’s edition of the Best Value Economics Schools for a Bachelor’s in Illinois ranking. Wheaton, Illinois is the setting for this small institution of higher learning. The private not-for-profit school handed out bachelors’s economics degrees to 40 students in 2019-2020.
Wheaton College Illinois not only placed well in this ranking. It is also #4 on our “Best Economics Bachelor’s Degree Schools in Illinois” list. The yearly cost to attend Wheaton College Illinois is $25,358 for illinois bachelor’s degree economics students.
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%. 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. Students who start out at the school are likely to stick around. The freshman retention rate is 90%.
McKendree University came in at #12 in this year’s edition of the Best Value Economics Schools for a Bachelor’s in Illinois ranking. Located in Lebanon, Illinois, this small private not-for-profit school handed out 17 degrees to qualified bachelors’s economics students in 2019-2020.
McKendree also took the #23 spot in our “Best Economics Bachelor’s Degree Schools in Illinois” ranking. It costs about $19,844 for Illinois Bachelor’s Degree Economics students per year to attend McKendree University.
Bradley University came in at #13 in this year’s edition of the Best Value Economics Schools for a Bachelor’s in Illinois ranking. This medium-sized school is located in Peoria, Illinois, and it awarded 5 bachelors’s economics degrees in 2019-2020.
Bradley not only placed well in this ranking. It is also #11 on our “Best Economics Bachelor’s Degree Schools in Illinois” list. It costs about $25,634 for Illinois Bachelor’s Degree Economics students per year to attend Bradley.
With a freshman retention rate of 86%, the school does an excellent job of retaining its students. 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%.
With a ranking of #14, Illinois College did quite well on the 2022 Best Value Economics Schools for a Bachelor’s in Illinois list. Illinois College is a small school located in Jacksonville, Illinois that handed out 14 bachelors’s economics degrees in 2019-2020.
Illinois College did well in our major quality rankings, too. It placed #20 on our “Best Economics Bachelor’s Degree Schools in Illinois” list. The estimated yearly cost for Illinois College is $16,562 for Illinois Bachelor’s Degree Economics students.
Olivet Nazarene University did quite well in the 2022 Best Value Economics Schools for a Bachelor’s in Illinois ranking, coming in at #15. Olivet Nazarene is a small private not-for-profit school situated in Bourbonnais, Illinois. It awarded 33 bachelors’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 Bachelor’s Degree Schools in Illinois” ranking. The yearly cost to attend Olivet Nazarene University is $20,195 for illinois bachelor’s degree economics students.
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%.
Dominican University came in at #16 in this year’s edition of the Best Value Economics Schools for a Bachelor’s in Illinois ranking. This small school is located in River Forest, Illinois, and it awarded 6 bachelors’s economics degrees in 2019-2020.
Dominican U also took the #14 spot in our “Best Economics Bachelor’s Degree Schools in Illinois” ranking. The estimated yearly cost for Dominican U is $19,268 for illinois bachelor’s degree economics students.
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.
Rockford University came in at #17 in this year’s edition of the Best Value Economics Schools for a Bachelor’s in Illinois ranking. Located in Rockford, Illinois, this small private not-for-profit school awarded 1 diplomas to qualified bachelors’s economics students in 2019-2020.
It costs about $22,197 for Illinois Bachelor’s Degree Economics students per year to attend Rockford.
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.
With a ranking of #18, Elmhurst University did quite well on the 2022 Best Value Economics Schools for a Bachelor’s in Illinois list. Elmhurst, Illinois is the setting for this small institution of higher learning. The private not-for-profit school handed out bachelors’s economics degrees to 11 students in 2019-2020.
Elmhurst not only placed well in this ranking. It is also #15 on our “Best Economics Bachelor’s Degree Schools in Illinois” list. The yearly cost to attend Elmhurst University is $21,485 for Illinois Bachelor’s Degree Economics students.
The low 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%.
Roosevelt University ranked #19 on this year’s Best Value Economics Schools for a Bachelor’s in Illinois list. Located in Chicago, Illinois, this small private not-for-profit school handed out 5 diplomas to qualified bachelors’s economics students in 2019-2020.
It costs about $22,749 for illinois bachelor’s degree economics students per year to attend Roosevelt.
North Central College landed the #20 spot on the 2022 Best Value Economics Schools for a Bachelor’s in Illinois ranking. North Central is a private not-for-profit institution located in Naperville, Illinois. The school has a small population, and it awarded 31 bachelors’s degrees 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 is $24,786 for illinois bachelor’s degree economics students.
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%.
Augustana College did quite well in the 2022 Best Value Economics Schools for a Bachelor’s in Illinois ranking, coming in at #21. Augustana is a small private not-for-profit school situated in Rock Island, Illinois. It awarded 8 bachelors’s economics degrees in 2019-2020.
Augustana not only placed well in this ranking. It is also #8 on our “Best Economics Bachelor’s Degree Schools in Illinois” list. It costs about $23,874 for Illinois Bachelor’s Degree Economics students per year to attend Augustana.
Students who start out at the school are likely to stick around. The freshman retention rate is 85%. 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%.
DePaul University ranked #22 on this year’s Best Value Economics Schools for a Bachelor’s in Illinois list. This large school is located in Chicago, Illinois, and it awarded 29 bachelors’s economics degrees in 2019-2020.
DePaul also took the #22 spot in our “Best Economics Bachelor’s Degree Schools in Illinois” ranking. The estimated yearly cost for DePaul University is $30,090 for Illinois Bachelor’s Degree Economics students.
The student loan default rate at the school is 4.5%, which is quite low when compared to the national default rate of 10.1%.
Lake Forest College landed the #23 spot on the 2022 Best Value Economics Schools for a Bachelor’s in Illinois ranking. Lake Forest is located in Lake Forest, Illinois and, has a small student population. In 2019-2020, this school awarded 21 bachelors’s economics degrees to qualified students.
Lake Forest did well in our major quality rankings, too. It placed #6 on our “Best Economics Bachelor’s Degree Schools in Illinois” list. The estimated yearly cost for Lake Forest is $26,426 for Illinois Bachelor’s Degree Economics students.
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%.
Knox College came in at #24 in this year’s edition of the Best Value Economics Schools for a Bachelor’s in Illinois ranking. Galesburg, Illinois is the setting for this small institution of higher learning. The private not-for-profit school handed out bachelors’s economics degrees to 18 students in 2019-2020.
Knox not only placed well in this ranking. It is also #12 on our “Best Economics Bachelor’s Degree Schools in Illinois” list. It costs about $22,292 for illinois bachelor’s degree economics students per year to attend Knox College.
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 low student loan default rate of 4.8% 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%.
Illinois Wesleyan University came in at #25 in this year’s edition of the Best Value Economics Schools for a Bachelor’s in Illinois ranking. This small school is located in Bloomington, Illinois, and it awarded 14 bachelors’s economics degrees in 2019-2020.
Illinois Wesleyan not only placed well in this ranking. It is also #5 on our “Best Economics Bachelor’s Degree Schools in Illinois” list. The estimated yearly cost for Illinois Wesleyan is $26,039 for illinois bachelor’s degree economics students.
Students who start out at the school are likely to stick around. The freshman retention rate is 87%. 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%.
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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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