By Thomas Guengerich
SOCORRO, N.M., Feb. 27, 2009 – The national business magazine Kiplinger’s has again ranked New Mexico Tech among the best values in universities in the nation.
The most recent rankings place New Mexico Tech as the 37th best value among American universities.
The rankings are based on graduation rates, student debt, tuition costs, faculty-to-student ratio, entrance requirements and financial aid. The complete list is available at content.kiplinger.com/tools/colleges/ataglance.html.
Tech ranks near the bottom for four-year and six-year graduation rates, but the low cost and high availability of financial aid bolster the Socorro university’s ranking as a good value.
The University of North Carolina-Chapel Hill tops the best value rankings, followed by the universities of Florida, Virginia and Georgia. The top universities in the West are California-San Diego (10), Washington (11), Cal-Berkeley (12) and UCLA (13).
The top-ranked technical engineering schools are Virginia Tech (15) and Georgia Tech (16).
New Mexico Tech is just behind Texas A&M (36) and Wisconsin-La Crosse (38).
Notable schools ranked below New Mexico Tech include Indiana (40), Louisiana State (47), Iowa (52), Purdue (63) and Colorado (87).
Tech is the only New Mexico university in the top 100. Also, none of Tech’s “peer institutions,” such as Colorado School of Mines and Rochester Institute of Technology – made the top 100.
New Mexico Tech ranks second for student-to-faculty ratio at 11:1. Tech ranks by far the best in the nation for student debt upon graduation at $6,744. The next lowest figure is $9,587 at the Missouri University of Science and Technology.
With 94 percent of student costs met by financial aid, Tech ranks fifth in the nation.
Tech’s overall rankings are hurt by low graduation rates. Only 15.9 percent of Tech students graduate in four years – second lowest among the top 100. The six-year graduation rate is 43.2 percent – dead last among the top 100.
– NMT –