2027 Best Value Economics Schools in Illinois
[Economics](/majors/social-sciences/economics/) degree programs vary widely in price and payoff across the country. The schools below stand out for delivering a strong economics education at a price that pays off.
To produce this 2027 ranking, College Factual evaluated 16 schools on the balance of cost and outcomes for economics students.
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2027 Best Value Economics Schools in Illinois
If you want to know which schools deliver the best value for the economics degrees they offer, see the list below.
Best Value Economics Schools
For return on investment in economics, no school beat University Of Illinois At Chicago this year. Located in the city of Chicago, University Of Illinois At Chicago is a very large public university. The average in-state cost of tuition and fees is $15,949, with out-of-state students paying around $32,009. Students borrow a median of $19,002 to complete the economics program here. Soon after graduation, economics degree recipients from University Of Illinois At Chicago generally make around $37,767. That is a strong return on a $19,002 median debt. The acceptance rate is 77%.
University Of Chicago came in at #2 on our 2027 list of the best value economics schools. University Of Chicago is a very large private not-for-profit school located in the city of Chicago. Students from in state pay about $69,324 in tuition and fees. Economics graduates carry a median of $13,197 in student loans. Economics graduates of University Of Chicago earn a median of $92,075 early in their careers. That is a strong return on a $13,197 median debt. Roughly 4% of applicants are accepted.
Students looking for strong value in economics will find it at University Of Illinois At Urbana Champaign, which ranked #3. Located in the city of Champaign, University Of Illinois At Urbana Champaign is a very large public university. Expect in-state tuition and fees of around $18,267, while out-of-state students pay about $40,096. Students borrow a median of $21,228 to complete the economics program here. Early-career economics graduates make about $58,921. Weighed against typical debt, the earnings make a compelling case for value. Roughly 42% of applicants are accepted.
Students looking for strong value in economics will find it at Northern Illinois University, which ranked #4. Northern Illinois University is a large public school located in the suburb of Dekalb. The average in-state cost of tuition and fees is $13,060. Students borrow a median of $25,879 to complete the economics program here. Soon after graduation, economics degree recipients from Northern Illinois University generally make around $45,386. That is a strong return on a $25,879 median debt. Northern Illinois University admits about 70% of applicants.
The strong cost-to-outcome balance at Southern Illinois University Carbondale earned it the #5 place for economics. Located in the town of Carbondale, Southern Illinois University Carbondale is a large public university. Students from in state pay about $13,334 in tuition and fees. Economics graduates carry a median of $25,049 in student loans. Soon after graduation, economics degree recipients from Southern Illinois University Carbondale generally make around $37,798. That is a strong return on a $25,049 median debt. Roughly 87% of applicants are accepted.
Northeastern Illinois University landed the #6 spot for economics value this year. Located in the city of Chicago, Northeastern Illinois University is a moderately-sized public university. In-state tuition and fees average $12,383, with out-of-state students paying around $22,726. Typical student debt for economics graduates is $17,600. Early-career economics graduates make about $40,004. That is a strong return on a $17,600 median debt. Roughly 75% of applicants are accepted.
Illinois State University came in at #7 for value in economics this year. Located in the suburb of Normal, Illinois State University is a very large public university. Expect in-state tuition and fees of around $14,410, with out-of-state students paying around $26,058. Students borrow a median of $25,000 to complete the economics program here. Soon after graduation, economics degree recipients from Illinois State University generally make around $44,015. Weighed against typical debt, the earnings make a compelling case for value. Illinois State University admits about 88% of applicants.
Olivet Nazarene University ranked #8 on our 2027 list of the best value economics schools. Olivet Nazarene University is a mid-sized private not-for-profit school located in the suburb of Bourbonnais. Expect in-state tuition and fees of around $38,900. Economics graduates carry a median of $27,000 in student loans. Soon after graduation, economics degree recipients from Olivet Nazarene University generally make around $54,169. Weighed against typical debt, the earnings make a compelling case for value. Roughly 56% of applicants are accepted.
North Central College landed the #9 spot for economics value this year. Located in the city of Naperville, North Central College is a mid-sized private not-for-profit university. Expect in-state tuition and fees of around $45,726. Students borrow a median of $26,801 to complete the economics program here. Early-career economics graduates make about $52,728. Weighed against typical debt, the earnings make a compelling case for value. Roughly 77% of applicants are accepted.
Knox College earned the #10 position for value in economics this year. Knox College is a small private not-for-profit school located in the town of Galesburg. Expect in-state tuition and fees of around $57,903. Economics graduates carry a median of $25,000 in student loans. Economics graduates of Knox College earn a median of $23,222 early in their careers. That is a strong return on a $25,000 median debt. The acceptance rate is 71%.
Mckendree University ranked #11 on our 2027 list of the best value economics schools. Mckendree University is a mid-sized private not-for-profit school located in the suburb of Lebanon. Students from in state pay about $34,740 in tuition and fees. Students borrow a median of $24,362 to complete the economics program here. Economics graduates of Mckendree University earn a median of $51,068 early in their careers. Weighed against typical debt, the earnings make a compelling case for value. Mckendree University admits about 72% of applicants.
Wheaton College Illinois earned the #12 position for value in economics this year. Wheaton College Illinois is a mid-sized private not-for-profit school located in the suburb of Wheaton. In-state tuition and fees average $45,546. Economics graduates carry a median of $21,000 in student loans. Economics graduates of Wheaton College Illinois earn a median of $62,889 early in their careers. That is a strong return on a $21,000 median debt. Wheaton College Illinois admits about 87% of applicants.
Lake Forest College landed the #13 spot for economics value this year. Located in the suburb of Lake Forest, Lake Forest College is a small private not-for-profit university. The average in-state cost of tuition and fees is $56,402. Economics graduates carry a median of $27,000 in student loans. Early-career economics graduates make about $53,529. Weighed against typical debt, the earnings make a compelling case for value. Lake Forest College admits about 57% of applicants.
Northwestern University earned the #14 position for value in economics this year. Located in the city of Evanston, Northwestern University is a very large private not-for-profit university. In-state tuition and fees average $68,322. Students borrow a median of $16,227 to complete the economics program here. Early-career economics graduates make about $84,932. Weighed against typical debt, the earnings make a compelling case for value. Northwestern University admits about 8% of applicants.
Depaul University earned the #15 position for value in economics this year. Located in the city of Chicago, Depaul University is a very large private not-for-profit university. Expect in-state tuition and fees of around $45,405. Economics graduates carry a median of $22,433 in student loans. Economics graduates of Depaul University earn a median of $53,417 early in their careers. That is a strong return on a $22,433 median debt. Depaul University admits about 76% of applicants.
Loyola University Chicago ranked #16 on our 2027 list of the best value economics schools. Set in the city of Chicago, Loyola University Chicago is a large private not-for-profit institution. Expect in-state tuition and fees of around $53,710. Students borrow a median of $23,521 to complete the economics program here. Early-career economics graduates make about $58,568. Weighed against typical debt, the earnings make a compelling case for value. The acceptance rate is 82%.
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Notes and References
This ranking is produced by College Factual (MF_RANKING_2025), 2027 edition. The methodology weighs the cost of a degree against the earnings graduates go on to achieve, drawn primarily from the U.S. Department of Education (IPEDS and College Scorecard).
Ranking method: College Major Best Value · 16 schools evaluated.
*Averages shown above reflect the top 16 ranked schools only.
- 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).
More about our data sources and methodologies.
