College Affordability and U.S. News & World Report Rankings: Analyzing National and Regional Differences

In an era of billions of dollars in outstanding student loan debt, researchers have posited that the U.S. News & World Report rankings continue to be an influential source of information for prospective students, yet these rankings do not include college affordability metrics in their ranking algorithm. As a result, this study performed a series of college affordability experiments by integrating affordability metrics into the U.S. News ranking algorithm to explore whether any affordability metric predicts overall ranking. Results suggest better ranked institutions enrolled lower percentages of Pell grant receiving students (p < 0.00), while the percentage of undergraduates receiving state aid predicted better rankings only at Regional Midwest and Regional West Universities (p < 0.05). These results suggest many college affordability metrics are not predictive of ranking among the best-ranked, elite institutions. Implications for theory, practice, and college student choice are addressed.