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Four N.C. schools were listed among the private colleges and universities determined to be the country's 100 best values by Kiplinger's Personal Finance magazine, the publication disclosed today.
The four are Davidson College (ranked no. 4 among colleges), Duke University (no. 5 among universities), Wake Forest University (no. 20) and Elon College (no. 29). Kiplinger included the school because their academic reputation and efforts to keep costs to a minimum.
The sinking economy has hurt schools with rich and modest endowments. Yet these schools are "cutting outlays to keep operations running and financial aid flowing. Schools with minimal endowments -- the vast majority -- continue to offer a mix of loans, work-study and grants funded by gifts to offset tuition costs," the magazine wrote.
For instance, Davidson, known for its rigorous academics, became in 2007 the first liberal arts college to eliminate loans from financial aid packages. The school instead is offering to fill demonstrated financial needs through grants and student employment, assuring students are debt-free when they graduate.
Davidson implemented its debt-free policy after officials became concerned many students weren't applying because their families couldn't afford it.
"Families hit by the economic downturn may feel that private institutions are out of their financial reach," said Kiplinger's editor Janet Bodnar. "But they will be surprised by our findings."
