Rice University rises to No. 1 spot in new ranking of best college investments
money moves
By one measure, earning a degree at Rice University is the smartest move in the Lone Star State.
In its eighth annual ranking of colleges and university that give students the best return on their educational investment, personal finance website SmartAsset places Rice at No. 1 in Texas and No. 10 in the U.S. It’s the only Texas school to break into the national top 10.
To determine the best-value colleges and universities in each state, SmartAsset crunched data in these categories: scholarships and grants, starting salary for new graduates, tuition, living costs, and retention rate.
While the tuition ($47,350) and student living costs ($17,800) at Rice are the highest among the top 10 Texas schools on the list, the average amount of scholarships and grants ($43,615), average starting salary ($77,900), and retention rate (97 percent) also are among the highest.
According to Rice, tuition, fees, on-campus room and board, books, and personal expenses for the 2022-23 academic year add up to $74,110. That figure, which excludes financial aid, applies to a full-time, degree-seeking student living on campus.
“Rice University is consistently ranked as a best value in higher education and is one of America’s leading teaching and research universities,” the school’s Office of Financial Aid says. “By attending Rice, you will not only receive a superior education at a reasonable cost, you also will benefit from having a Rice degree long after graduation.”
Three other schools in or near the Houston metro area appear on SmartAsset’s list of the biggest-bang-for-your-buck schools in Texas:
- Prairie View A&M University, No. 4. The university posted the lowest retention rate (74 percent) among the 10 schools. The remaining figures sit roughly in the middle of the pack.
- University of Houston, No. 5. The university’s tuition ($8,913) was the lowest in the top 10, as was the average amount of scholarships and grants ($6,544).
- Texas A&M University-College Station, No. 6. The university’s living costs are the second highest among the top 10 ($17,636), while its average starting salary for new grads lands at No. 3 ($64,400).
Other schools in the state’s top 10 are:
- University of Texas at Austin, No. 2.
- University of Texas at Dallas (Richardson), No. 3.
- Texas Tech University in Lubbock, No. 7.
- LeTourneau University in Longview, No. 8.
- University of North Texas in Denton, No. 9.
- Texas State University in San Marcos, No. 10.
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This article originally ran on CultureMap.
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