UVa-Wise students complete degrees with least debt, according to U.S. News ranking

The University of Virginia’s College at Wise once again tops the list of national liberal arts colleges whose students graduate with a low debt load.

The UVa-Wise Class of 2007 completed their degrees with less debt than students at any of the nation’s other liberal arts colleges, according to the latest issue of U.S. News and World Report’s annual college guide, which hits newsstands Aug. 25.

UVa-Wise ranked first among the nation’s 265 liberal arts colleges (public or private) for graduating students with the least amount of debt. Including this year, UVa-Wise has graduated students with less debt than students at any other liberal arts college (public or private) for the past four out of five years. This is the fifth consecutive year UVa-Wise has graduated students with less debt than students at any other public liberal arts college.

Among the UVa-Wise Class of 2007, 65 percent accrued some student debt. Of those UVa-Wise graduates who do have student loans to repay, the average amount of debt is $9,206. That compares to an average debt load of $35,839 for students at Bennett College in North Carolina, the liberal arts college with the largest average student debt.

“Our consistent ranking as the top liberal arts college that graduates students with the least debt load is a point of pride for the College,” said UVa-Wise Chancellor David J. Prior. “About 80 percent of the students who apply for financial aid demonstrate financial need, one of the highest percentages in Virginia. That our alumni can begin graduate school or their work life with a low debt load is a tremendous benefit of a UVa-Wise education.”

“The low debt load of UVa-Wise students also speaks volumes about the commitment and investment made by the Commonwealth, our alumni and our donors to help make scholarships and other forms of financial aid available to our students,” added Rusty Necessary, vice chancellor for enrollment management.

The U.S. News data includes loans taken out by students from financial institutions, federal, state and local governments, and from the colleges themselves. Parents’ loans are not included. The average amount of debt is the average cumulative amount borrowed by those students who incurred debt, not the average for all students.

In the recent rankings, UVa-Wise continues to be listed among the nation’s top public liberal arts colleges. The nation’s 265 liberal arts colleges – most of which are private – emphasize undergraduate education and award at least half of their degrees in the arts and sciences.

With only the top five national public liberal arts colleges ranked individually in the current report, a precise numerical ranking is not yet available for the College. This is the eighth time UVa-Wise has been included in the national ranking.

Each school’s rank within its group of peer institutions is based on the same set of quality measures. Seventy-five percent of the ranking is based on a formula that includes objective measures of academic quality, such as graduation rates, freshman retention, class size, student selectivity, student/faculty ratios, faculty salaries, SAT scores, acceptance rates, financial resources, and alumni giving rates.

The remaining 25 percent is based on a reputational survey of peer institutions conducted in the early spring. The magazine surveys the president, provost and dean of admissions at each school to rate the perceived quality of the academic programs for schools in the same category, including their own.

The only branch campus of the University of Virginia, UVa-Wise is ranked among the nation’s top ten public liberal arts colleges by U.S. News and World Report. UVa-Wise offers Virginia's only undergraduate degree in software engineering, among 28 other degrees and professional programs in the liberal arts tradition of Thomas Jefferson.

For more information, contact the Office of College Relations at 276-328-0130.

Posted August 22, 2008