Money magazine ranks Louisiana Tech among nation’s best college values
Money magazine has ranked Louisiana Tech University as one of the nation’s best college values according to its 2014 Best Colleges list released Monday.
Of the nation’s approximately 1,500 four-year colleges, Money magazine ranked the top 665, placing Louisiana Tech at No. 154 nationally and second among all Louisiana public and private institutions. LSU ranked first in Louisiana and nationally at No. 95. Other Louisiana universities ranked include Tulane University at No. 555, Loyola University-New Orleans at No. 604 and Grambling State University at No. 637.
The rankings were based on three specific categories: educational quality, affordability, and alumni earnings data provided by PayScale.com. Money magazine also assigned each college or university a “value added” grade that rated each college according to the economic and academic profile of its student body, and the mix of majors at the school.
A statistical analysis was then used to award each ranked school a single score based on a five-point scale. Louisiana Tech earned a value grade of B+ with a ranking score of 3.24, which was second only to LSU’s value grade of B+ and ranking score of 3.37.
“National rankings such as these are a testament to the dedication of our faculty and staff who continue to provide our students with an excellent educational value and an unparalleled college experience,” said Louisiana Tech President Les Guice. “I congratulate them on this achievement and sincerely thank them for their ongoing commitment to the growth of our institution and our region.”
According to the data analyzed by Money, Louisiana Tech’s net cost for a degree was $83,193 with an average annual salary of $49,400 for graduates after five years. Tech’s net cost was the lowest among all the ranked schools in Louisiana while its average annual salaries for graduates at five years was the state’s highest. The data also showed that Louisiana Tech had the lowest average student debt of any ranked institution in Louisiana.
Babson College (Massachusetts) was at the top of Money’s Best College rankings followed by the Webb Institute (New York), the Massachusetts Institute of Technology, Princeton University and Stanford University.
Over the past 18 months, Louisiana Tech has been recognized by multiple national publications and websites for value and return on investment. Newsweek and The Daily Beast listed Tech as one of the 25 Most Affordable Colleges in the nation, for both in-state and out-of-state students. Affordable Colleges Online ranked Louisiana Tech No. 1 in Louisiana for overall return on investment (ROI) to its graduates while AdvisorOne also ranked Louisiana Tech highest in the state and No. 21 in the nation for providing its graduates with the best ROI.
“Louisiana Tech is engaging all of its stakeholders to seek out new ways to provide new opportunities for our students and the communities of north Louisiana,” said Guice. “We have never been satisfied with where we are, but rather motivated by where we can go. I look forward to the future of Louisiana Tech and to working with our faculty, staff, alumni and supporters to positively impact our students and our region.”