Pomona College Named One of the Nation's Best Values in Liberal Arts Education
Kiplinger’s Personal Finance magazine has named Pomona College fifth on its list of the 50 Best Values in Liberal Arts Colleges. The list, which ranks private colleges and universities that combine outstanding economic value with an exceptional education, appears in the April 2008 issue of Kiplinger’s Personal Finance (on newsstands March 12) and at www.kiplinger.com/tools/privatecolleges.
“Families fearing that private education is out of their financial reach should know that there are some outstanding deals to be had,” says Fred Frailey, editor of Kiplinger’s. “Our list showcases a range of schools with strong academics, generous financial-aid practices and, in some cases, a decent price to begin with. You can receive a top-notch education without breaking the bank.”
Pomona College is one of only a handful of colleges with need-blind admissions that meet the full financial need of every accepted student. Beginning in the 2008-09 academic year, Pomona will be an even better value as it replaces all loans with scholarships in financial aid packages. The new policy will cost an additional $2.3 million per year. Currently 53% of Pomona students receive financial aid.
“Pomona College has a long-standing tradition of accessibility,” emphasized Pomona College President David W. Oxtoby. “This ranking of quality and financial aid provides the public with the important information that a high quality, private education is affordable to middle and low-income families, something that is too often missing from news stories about college tuition and admissions.”
Pomona College was selected from a pool of more than 1,000 private institutions provided by Peterson’s. Kiplinger’s Personal Finance ranked the top 50 universities and top 50 liberal arts colleges in separate tables. To rate each school, Kiplinger’s took into account admission rate, SAT or ACT scores, student-faculty ratio, four-year/five-year graduation rate, total costs, cost after need-based aid, aid from grants, cost after non-need-based aid, and average debt at graduation.
Pomona College is the founding member of The Claremont Colleges, a consortium of five independent undergraduate and two graduate institutions. Two of Pomona’s sister schools were also named among the top 50 best values among liberal arts colleges: Claremont McKenna College ranked 10th and Scripps College was 40th. Only one other California college made the top 50, Occidental at 42nd.
Kiplinger's Personal Finance magazine has provided advice on managing money and achieving financial security since 1947.