Release date:September 15, 2006
Wayland ranks high on the list of USNews' "Best Values"
PLAINVIEW – In this day and age, cost of higher education is a primary concern for college-bound students and their families, and getting the most bang for your educational buck is of utmost priority.
According to U.S.News & World Report’s recent America’s Best Colleges rankings, Wayland Baptist University is listed among the top ten school’s in its region for “Great Values.”
Wayland is No. 6 in the west region for master’s universities, the category assigned by U.S. News, which distributes its rankings each year. According to the list, 71 percent of WBU students receive financial aid based on need, with a 41 percent average discount from the total cost. The average cost of a year at Wayland after receiving need-based grants is $9,834.
According to the magazine, the “Great Values” determinations are made using a formula involving the school’s academic quality as indicated by its overall rankings, related to the net cost of attendance for a student who receives the average level of need-based financial aid. The west region includes Texas and Oklahoma, Colorado, Wyoming, Montana and all states to the west of those. Master’s universities are schools that offer the master’s degree as the highest degree.
Overall, Wayland ranked in the third tier of master’s universities in the west region. Rankings are based on a formula that includes peer evaluation, acceptance rates, entrance exam scores for incoming students, alumni giving rates, graduation rate and others.
The rankings are good news for the university, which has attempted to keep its tuition cost accessible for many years. It also is good news for the new generation of college students, who place quite an importance on value of their education.
According to the August 2006 edition of Consider the Facts, a report published by the Council for Christian Colleges and Universities, Millennial students are more price-conscious about their higher education than were students entering school ten years ago. The report also said that students in 2004 were more than twice as likely as those in 1994 to say that educational cost was a factor that affected their decision to attend their institution. Only 17 percent of students in 2004 said they had “major concerns” about financing their education, compared to 22 percent in 1994.