University of Arkansas Named as One of the Best Values by "Kiplinger’s Personal Finance"

FAYETTEVILLE, Ark. — The University of Arkansas has been named one of the best values among public colleges by "Kiplinger’s Personal Finance." The magazine ranked the university 45^th among the 100 public institutions. The U of A placed seventh among Southeastern Conference public schools ranked in the report.

"The cost of higher education is a matter of great concern," Chancellor John A. White said. "At the University of Arkansas, we strive to create an environment that is not only conducive to an effective academic experience but also offers excellent value in return for students’ and parents’ investments."

Three primary criteria used to rank the top 100 public colleges included quality, cost and average debt after graduation. Those categories were then broken into subcategories, providing more detail about each institution.

The U of A tied for second with the University of Georgia in the subcategory of standardized testing. Of 2002-03 UA freshmen, 59 percent scored 24 or better on the ACT. The University of Florida ranked first among SEC schools with 67 percent of its new freshmen scoring 24 or better on the ACT.

In the category of in-state costs (tuition, fees, room, board, books and supplies), the report stated the average UA student pays $10,706 annually. However, the average need-based gift award (excluding loans and work-study income) for students was more than $3,500, making the final average cost for in-state students $7,166 annually.

"Kiplinger’s" reported that out-of-state students pay an average of $17,456 annually at the U of A. After an average need-based gift of $3,562, out-of-state costs drop to $13,894, which ranked the university 40^th among the best buys for out-of-state students.

"The university has implemented several programs aimed at attracting out-of-state students to its campus," said Bob Smith, provost and vice chancellor for Academic Affairs. "This will create a diverse environment consisting of people from many different regions that will enable our students to benefit from a well-rounded experience, both academically and socially."

The university’s lowest ranking among SEC institutions came in the category of graduation rates. According to the report, the U of A graduated 22 percent of its 1996-97 freshmen class in four years and 46 percent of freshmen from that same class in six years.

"One of the university’s primary goals is to increase its six-year graduation rate to 66 percent by the year 2010," White said. "We have seen the six-year graduation rate increase between fall 1996 and fall 1997 freshman classes to 48.1 percent.. We remain committed to seeing those numbers match and exceed the current national six-year average of 54.4 percent."

Data for "Kiplinger’s" report was gathered from Peterson’s 2002-03 Annual Survey of Undergraduate Institutions and through independent research. For the complete report, log onto http://www.kiplinger.com/tools/colleges/.