Babson bests Harvard, MIT in value-based college rankings
In terms of affordability and post-grad outcomes, Babson takes the cake.
In terms of pure prestige, you’d be hard pressed to best Harvard or MIT in any college rankings.
But based on pure value and return on investment, you could say the same of Babson College.
In Money’s rankings of the best colleges, Babson sits in second place, above the typical MIT, Princeton, and Harvard. Although Babson technically fell from No. 1 to No. 2 since last year’s rankings — Stanford took the top spot — Babson President Kerry Healey said she was “incredibly thrilled’’ with the ranking.
“We think it really focuses people’s attention on the value of education in addition to quality,’’ she said. “Having this kind of standing, being there with Stanford, MIT, Cal Tech — these are outstanding institutions and I think people will take a different look at us.’’
Money’s rankings eschew the typical metrics of average SAT scores, percentage of students accepted, alumni who donate to their alma mater, or other prestige-based stats. Instead, they are weighted more towards affordability and the post-graduate incomes and successes of alumni.
“We’re Money magazine, we’re not Education Policy magazine, we’re not Poetry magazine,’’ said Kim Clark, a senior writer for Money who helped craft the rankings. “We’re all about affordability and value.’’
That starkly practical analysis hits right at home for students and parents concerned with the ballooning costs of higher-education. According to a recent survey of prospective and recently-enrolled students, the availability of financial aid and the college’s cost were two of the three most important factors in choosing a college [PDF]. Forget the feel of a place; money and affordability are the reality of college decision-making nowadays, Clark said.
“I’m not saying it should be the reality, but it is the reality,’’ she said. “You really have to think about the cost.’’
Healey pointed to Babson’s 50-50 split between liberal arts and business classes and its focus on entrepreneurship as the reasons for the high ranking. She also pointed out that the incoming Class of 2019 is 54 percent female – the first time more women than men have enrolled in the business school’s history.
“We make it our policy never to pursue these rankings,’’ Healey said. “[We’re] incredibly thrilled and pleased.’’
Gallery: Notable Commencement speakers at nearby colleges this year.
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