20 Private Colleges That Help You Afford Tuition — and Avoid Debt

As a college-bound student putting together a college wish list, you’ve probably noticed that private colleges tend to have high price tags. Maybe you’ve even decided that any private college is too far outside your budget to consider.

Indeed, the average annual tuition at a private college was $33,480 in 2016-17, according to the College Board Annual Survey of Colleges. Considering the average annual tuition at a four-year public college was $9,650 for in-state students and $24,930 for out-of-state students, it’s clear most private college students paid more.

Many of them likely relied on private student loans for their private education. In fact, graduates of private colleges ended up with more student debt: $32,300 on average, compared to the average debt of $25,550 for graduates of public colleges.

However, according to new Student Loan Hero college rankings, some nonprofit private colleges are worth a second look — even for cost-conscious college applicants. If you’ve been dreaming of the private-college experience on a public-college budget, start your search with this list of the 20 most cost-effective private colleges.

20 most affordable private colleges

The Student Loan Hero rankings highlighted private colleges that were affordable exceptions thanks to low tuition, subsidies, scholarships, and financial aid.

Among the top 20 private colleges offering the best deals for undergraduates, average graduate indebtedness was low. Students who attended these private colleges could expect to borrow less than even the $25,550 average for graduates of public colleges.

Plus, private colleges on this list charged tuition and fees that were often on par with what in-state students paid at public colleges. And these 20 private colleges’ costs were well below the typical tuition public colleges charged out-of-state students.

Lastly, these private colleges offered substantial financial aid awards that helped many students offset their total costs of attendance, from tuition to room and board. These awards contributed to lower net prices of attendance at top private colleges.

Here’s a look at the annual tuition costs, annual net prices (cost of attendance after financial aid was applied), and average student debt graduates left with for the top 20 most affordable private colleges.

1. College of the Ozarks in Missouri

• Annual tuition and fees: $18,730
• Annual net price: $13,567
• Average indebtedness of graduates: $5,339
• Students with educational debt: 7 percent

2. Davis College in New York

• Annual tuition and fees: $13,540
• Annual net price: $12,690
• Average indebtedness of graduates: $5,360
• Students with educational debt: 22 percent

3. Brigham Young University in Utah

• Annual tuition and fees: $5,150
• Annual net price: $12,900
• Average indebtedness of graduates: $15,720
• Students with educational debt: 27 percent

4. Amridge University in Alabama

• Annual tuition and fees: $6,900
• Annual net price: $4,613
• Average indebtedness of graduates: $10,500
• Students with educational debt: 63 percent

5. Alice Lloyd College in Kentucky

• Annual tuition and fees: $11,460
• Annual net price: $13,405
• Average indebtedness of graduates: $10,591
• Students with educational debt: 42 percent

6. Berea College in Kentucky

• Annual tuition and fees: $24,870
• Annual net price: $3,125
• Average indebtedness of graduates: $7,928
• Students with educational debt: 68 percent

7. Barclay College in Kansas

• Annual tuition and fees: $14,390
• Annual net price: $17,392
• Average indebtedness of graduates: $7,220
• Students with educational debt: 72 percent

8. The Baptist College of Florida

• Annual tuition and fees: $10,000
• Annual net price: $10,360
• Average indebtedness of graduates: $17,174
• Students with educational debt: 63 percent

9. Calvary Bible College and Theological Seminary in Missouri

• Annual tuition and fees: $11,320
• Annual net price: $13,133
• Average indebtedness of graduates: $15,498
• Students with educational debt: 63 percent

10. Princeton University in New Jersey

• Annual tuition and fees: $43,450
• Annual net price: $17,901
• Average indebtedness of graduates: $8,577
• Students with educational debt: 16 percent

11. Alaska Pacific University in Alaska

• Annual tuition and fees: $19,610
• Annual net price: $19,536
• Average indebtedness of graduates: $8,922
• Students with educational debt: 63 percent

12. Blue Mountain College in Mississippi

• Annual tuition and fees: $10,852
• Annual net price: $11,182
• Average indebtedness of graduates: $18,307
• Students with educational debt: 70 percent

13. Webb Institute in New York

• Annual tuition and fees: $46,000
• Annual net price: $18,149
• Average indebtedness of graduates: $10,000
• Students with educational debt: 20 percent

14. Piedmont International University in North Carolina

• Annual tuition and fees: $9,580
• Annual net price: $14,981
• Average indebtedness of graduates: $19,784
• Students with educational debt: 69 percent

15. Columbia College in Missouri

• Annual tuition and fees: $8,240
• Annual net price: $17,891
• Average indebtedness of graduates: $23,515
• Students with educational debt: 53 percent

16. Gallaudet University in Washington, D.C.

• Annual tuition and fees: $15,604
• Annual net price: $15,196
• Average indebtedness of graduates: $18,643
• Students with educational debt: 64 percent

17. Mercy College of Ohio

• Annual tuition and fees: $12,530
• Annual net price: $16,744
• Average indebtedness of graduates: $18,652
• Students with educational debt: 69 percent

18. Columbia International University in South Carolina

• Annual tuition and fees: $20,430
• Annual net price: $17,942
• Average indebtedness of graduates: $18,786
• Students with educational debt: 51 percent

19. Heritage Bible College

• Annual tuition and fees: $9,168
• Annual net price: $13,412
• Average indebtedness of graduates: $15,000
• Students with educational debt: 100 percent

20. Watkins College of Art, Design & Film in Tennessee

• Annual tuition and fees: $20,790
• Annual net price: $28,632
• Average indebtedness of graduates: $15,000
• Students with educational debt: 47 percent

5 strategies for finding the best affordable private colleges

The cost of attending a private college can keep away students who are on a budget. Still, as a student, you might dream of attending a private college for a variety of reasons, such as:

• A unique college major or top-rated program that matches your goals
• Academic rigor, smaller class sizes, and favorable student-to-instructor ratios
• A unique campus, culture, and community

If you know a private college more closely matches the college experience you hope to have, don’t overlook it as an option. Follow these tips so you can find an affordable private college and avoid leaving with a large amount of student debt.

1. Search for affordable private colleges that are a good fit

As you think about which college you want to attend, keep the whole picture in view. Although it’s important to consider tuition costs, make sure you consider other factors as well.

For example, a religious private college might not be a great fit for a nonbeliever, no matter the price tag. On the other hand, a studious or conservative student might prefer to avoid private universities with reputations as party schools.

Visiting colleges can be a great way to see campuses in person and get face-to-face time with students and university officials.

2. Widen your search to private colleges outside your state

As you consider colleges, it’s smart to include in-state public universities in your search. They can help you lower costs by allowing you to live closer to home — or even with family if there’s a college in your hometown.

But you might prefer to attend college farther afield, perhaps to assert your independence or because in-state choices are a poor fit for your academic and professional goals.

When you’re facing out-of-state tuition costs, the prices of private colleges seem more reasonable. Unlike public schools, private colleges don’t have different tuition rates based on residency. So whether a private college is in your state or across the country, its location won’t affect your costs.

As you search for colleges, widen your survey to include private colleges farther away.

3. Check graduation rates and career outcomes

Private colleges can improve your chances of academic and career success. Six-year graduation rates were 66 percent at private colleges in 2016, compared to 59 percent at public colleges, according to data from the National Center for Educational Statistics.

But just like you shouldn’t assume a private college is too expensive, you also shouldn’t assume it has rigorous academic standards or high-performing programs.

Ask colleges you’re interested in attending for statistics on the performance and success of the student body, including graduation rates, job placements, and average starting salaries. This information will give you a clearer picture of which college is most likely to set you on your desired career path.

Also, it’s probably best to steer clear of for-profit private colleges altogether. These colleges focus on making a buck, not offering the best educational experience to students. For-profit colleges often land students deep in debt and deliver poor job outcomes and decreased earning potential.

4. Pursue financial aid, grants, and scholarships

It pays off to maintain a focus on financial aid throughout the college admissions and acceptance process. To narrow down your private-college search, check for financial aid policies and programs that match your situation and needs.

Students from low-income families might seek out private colleges with policies that match 100 percent of demonstrated need. Berea College, for example, offers a Tuition Promise Scholarship that covers 100 percent of any tuition that is unpaid after applying other financial aid and scholarships.

Attending one of these schools can give you the peace of mind that, between financial and institutional aid, all costs will be covered.

Perhaps you come from a middle-income family and are unlikely to receive many need-based grants but have above-average academic records and test scores. In this case, private colleges can be the smarter choice. They have greater discretion (and larger budgets) to offer merit-based aid than public colleges, making it easier for you to bank on your academic performance to finance your education.

5. Compare your real costs at each college

Lastly, you won’t know for sure which college is the most affordable until you receive your financial aid award letter from each college you’re considering.

If you’ve filed a FAFSA (Free Application for Federal Student Aid) and received acceptance letters from colleges, the next step is to wait for financial award letters. These documents outline the financial aid packages colleges are offering you.

Each college will list grants and scholarships as well as other forms of aid, including work-study and student loans. Comparing these offers lets you figure out the net cost of attending each college, which can help you decide which one offers the best value.

Financial aid award letters typically arrive in plenty of time for students to compare offers, make their choice, and secure a spot by the college’s enrollment deadline. Take some time to understand each offer, including which aid is “free” and which aid will need to be repaid. Then you can see how the financial aid award letters match up and which colleges offer the best value without breaking your budget.

Give private colleges a chance

If you end up writing off an entire category of colleges, you could miss out on a unique experience and the generous financial aid packages many private colleges offer.

These new college rankings proved that private colleges can be a cost-effective option. Students can afford to attend a private college and still graduate with less student debt.

Any well-rounded college search should include private universities. These schools offer unique experiences, individualized assistance, and forms of financial aid many students would struggle to find at public colleges.

You won’t know if a private college could be a smart and cost-savvy fit until you investigate and compare costs for yourself.

Methodology: Student Loan Hero surveyed data for 670 private colleges and ranked institutions based on the factors of affordability and student debt.

Private colleges were ranked based on four factors: (1) tuition and fees for 2015-16 and (2) the 2014-15 estimates of net price, which is the cost of attendance after the average financial aid package is applied to costs, both sourced from the most recent data available from the National Center of Educational Statistics, and (3) the average indebtedness of a 2015 graduate from the college and (4) the proportion of students graduating with any student debt, both sourced from the most recent data from the Institute for College Access & Success Project on Student Debt.

Tuition and fees, net price, and proportion of students graduating with student debt were weighted equally (at one-fifth of the ranking score). The average indebtedness was weighted twice as heavily (at two-fifths of the ranking score). The top-ranked 100 private colleges are listed below.

Rank	Name of institution	State	2015-16 tuition and fees	2014-15 net price	Average indebtedness	Portion of students with debt
1	College of the Ozarks	MO	$18,730	$13,567	$5,339	7%
2	Davis College	NY	$13,540	$12,690	$5,360	22%
3	Brigham Young University-Provo	UT	$5,150	$12,900	$15,720	27%
4	Amridge University	AL	$6,900	$4,613	$10,500	63%
5	Alice Lloyd College	KY	$11,460	$13,405	$10,591	42%
6	Berea College	KY	$24,870	$3,125	$7,928	68%
7	Barclay College	KS	$14,390	$17,392	$7,220	72%
8	The Baptist College of Florida	FL	$10,000	$10,360	$17,174	63%
9	Calvary Bible College and Theological Seminary	MO	$11,320	$13,133	$15,498	63%
10	Princeton University	NJ	$43,450	$17,901	$8,577	16%
11	Alaska Pacific University	AK	$19,610	$19,536	$8,922	63%
12	Blue Mountain College	MS	$10,852	$11,182	$18,307	70%
13	Webb Institute	NY	$46,000	$18,149	$10,000	20%
14	Piedmont International University	NC	$9,580	$14,981	$19,784	69%
15	Columbia College	MO	$8,240	$17,891	$23,515	53%
16	Gallaudet University	DC	$15,604	$15,196	$18,643	64%
17	Mercy College of Ohio	OH	$12,530	$16,744	$18,652	69%
18	Columbia International University	SC	$20,430	$17,942	$18,786	51%
19	Heritage Bible College	NC	$9,168	$13,412	$15,000	100%
20	Watkins College of Art, Design & Film	TN	$20,790	$28,632	$15,000	47%
21	Maranatha Baptist University	WI	$13,940	$18,767	$20,461	63%
22	Yale University	CT	$47,600	$18,164	$15,521	17%
23	Harvard University	MA	$45,278	$15,742	$16,723	24%
24	Louisiana College	LA	$15,070	$14,002	$22,969	66%
25	Hodges University	FL	$13,220	$17,920	$17,775	84%
26	Martin Luther College	MN	$13,570	$17,676	$23,636	62%
27	Montreat College	NC	$24,220	$18,721	$21,238	52%
28	Williams Baptist College	AR	$16,430	$14,955	$21,121	76%
29	Amherst College	MA	$50,562	$16,861	$15,756	25%
30	Pomona College	CA	$47,620	$18,423	$13,381	39%
31	Haverford College	PA	$49,098	$21,056	$14,750	28%
32	Tennessee Wesleyan College	TN	$22,900	$10,754	$21,644	76%
33	Thomas More College of Liberal Arts	NH	$20,400	$15,489	$23,452	65%
34	Life University	GA	$10,860	$22,619	$36,200	20%
35	Campbellsville University	KY	$23,828	$16,576	$19,420	72%
36	Soka University of America	CA	$30,642	$12,295	$18,954	70%
37	Liberty University	VA	$20,109	$23,468	$21,067	62%
38	Cardinal Stritch University	WI	$27,540	$18,417	$12,888	90%
39	Ave Maria University	FL	$18,479	$18,800	$25,702	59%
40	Mississippi College	MS	$16,064	$16,017	$29,189	56%
41	Thomas Aquinas College	CA	$24,500	$19,736	$16,901	80%
42	Wellesley College	MA	$46,836	$22,138	$12,455	49%
43	Oklahoma Baptist University	OK	$24,000	$17,320	$24,451	58%
44	Stanford University	CA	$46,320	$19,245	$21,238	22%
45	Calumet College of Saint Joseph	IN	$17,000	$11,218	$23,465	90%
46	Bryan College — Dayton	TN	$23,300	$16,153	$16,992	93%
47	Saint Joseph’s College — New York	NY	$24,113	$15,702	$26,595	57%
48	Goddard College	VT	$15,476	$19,758	$25,883	69%
49	Villa Maria College	NY	$20,260	$10,522	$22,658	91%
50	Trinity College of Florida	FL	$15,690	$18,731	$29,231	58%
51	John Brown University	AR	$24,468	$19,943	$23,695	60%
52	Harding University	AR	$17,805	$17,578	$25,295	72%
53	Ouachita Baptist University	AR	$24,120	$19,102	$26,648	51%
54	Vanderbilt University	TN	$44,712	$22,937	$21,506	22%
55	LeMoyne-Owen College	TN	$10,680	$9,114	$27,441	96%
56	Swarthmore College	PA	$47,442	$21,580	$18,262	33%
57	Samford University	AL	$28,370	$28,578	$23,772	37%
58	San Diego Christian College	CA	$28,470	$27,243	$19,212	58%
59	Davidson College	NC	$46,966	$22,865	$19,929	27%
60	Truett-McConnell College	GA	$18,000	$17,725	$25,251	76%
61	Hilbert College	NY	$20,700	$16,019	$21,830	88%
62	Middlebury College	VT	$47,828	$20,197	$17,797	41%
63	Saint Augustine’s University	NC	$17,890	$21,503	$19,500	93%
64	Oklahoma Christian University	OK	$19,890	$18,758	$28,142	61%
65	University of Mount Olive	NC	$18,400	$14,654	$23,766	90%
66	University of the Cumberlands	KY	$21,000	$16,515	$25,198	76%
67	Friends University	KS	$25,965	$18,662	$19,008	86%
68	Young Harris College	GA	$28,012	$16,193	$23,733	69%
69	Lyon College	AR	$25,280	$17,213	$22,321	78%
70	Duke University	NC	$49,241	$21,295	$19,104	35%
71	Hamilton College	NY	$49,500	$21,907	$17,654	39%
72	Williams College	MA	$50,070	$21,546	$16,593	43%
73	Mercy College	NY	$18,076	$16,363	$26,100	81%
74	Bethune-Cookman University	FL	$14,410	$16,645	$24,430	95%
75	Drury University	MO	$24,905	$21,506	$26,451	57%
76	Washington and Lee University	VA	$46,417	$21,379	$21,683	34%
77	Lee University	TN	$15,000	$18,139	$32,016	64%
78	Aquinas College	MI	$28,820	$17,551	$22,396	76%
79	Fontbonne University	MO	$23,790	$18,514	$24,281	77%
80	University of Pikeville	KY	$18,840	$17,653	$27,645	76%
81	Chaminade University of Honolulu	HI	$21,780	$21,077	$27,439	64%
82	Flagler College — St. Augustine	FL	$16,830	$21,804	$28,897	67%
83	Cooper Union for the Advancement of Science and Art	NY	$42,650	$40,617	$17,338	22%
84	California Institute of Technology	CA	$45,390	$23,213	$20,677	39%
85	The Master’s College and Seminary	CA	$30,920	$24,397	$22,417	59%
86	Marymount California University	CA	$34,680	$25,886	$17,705	67%
87	Mount Carmel College of Nursing	OH	$12,180	$14,524	$32,455	78%
88	Webber International University	FL	$24,792	$23,783	$23,421	69%
89	Lancaster Bible College	PA	$19,980	$21,300	$24,681	79%
90	Rice University	TX	$42,253	$22,462	$25,528	29%
91	Bowdoin College	ME	$48,212	$23,156	$20,883	34%
92	Carson-Newman University	TN	$25,360	$16,662	$26,851	70%
93	Lindsey Wilson College	KY	$23,162	$16,100	$26,249	78%
94	Wingate University	NC	$27,930	$18,821	$30,145	48%
95	Colgate University	NY	$49,970	$21,741	$20,859	34%
96	Colby College	ME	$49,120	$18,908	$23,342	32%
97	Dartmouth College	NH	$49,506	$21,348	$19,135	43%
98	King University	TN	$26,480	$18,504	$22,607	82%
99	Xavier University of Louisiana	LA	$22,349	$16,385	$24,570	87%
100	University of Great Falls	MT	$22,170	$18,336	$26,328	77%

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The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. Information current as of 4/1/2021. Enrolling in autopay is not required to receive a loan from SoFi. SoFi Lending Corp., licensed by the Department of Business Oversight under the California Financing Law License No. 6054612. NMLS #1121636 (>www.nmlsconsumeraccess.org). 6 Important Disclosures for Citizens Bank. Citizens Bank Disclosures Undergraduate Rate Disclosure: Variable interest rates range from 1.15% – 11.01% (1.15% – 10.24 APR)Fixed interest rates range from 4.18% – 11.70% (4.18% – 10.83% APR). Graduate Rate Disclosure: Variable interest rates range from 1.89% – 10.66% (1.89% – 10.41% APR). Fixed interest rates range from 4.64% – 11.23%% (4.64% – 10.95% APR). Business/Law Rate Disclosure: Variable interest rates range from 1.89% – 9.22% (1.89% – 8.50% APR). Fixed interest rates range from 4.38% – 10.44% (4.38% – 9.72% APR). Medical/Dental Rate Disclosure: Variable interest rates range from 1.89% – 8.02% (1.89% – 7.72% APR). Fixed interest rates range from 4.28% – 9.24% (4.28% – 8.94% APR). Parent Loan Rate Disclosure: Variable interest rates range from 1.97% – 7.06% (1.97% – 7.06% APR). Fixed interest rates range from 4.94% – 8.58% (4.94% – 8.58% APR). Bar Study Rate Disclosure: Variable interest rates range from 4.44% – 9.58% (4.44% – 9.52% APR). Fixed interest rates range from 7.39% – 12.94% (7.40% – 12.83% APR). Medical Residency Rate Disclosure: Variable interest rates range from 3.53% – 7.03% (3.53% – 6.76% APR). Fixed interest rates range from 6.99% – 10.49% (6.98% – 10.09% APR). Variable Rate Disclosure: Variable Rates are based on the one-month London Interbank Offered Rate (“LIBOR”) published in The Wall Street Journal on the twenty-fifth day, or the next business day, of the preceding calendar month. As of June 1, 2021, the one-month LIBOR rate is 0.09%. Variable interest rates will fluctuate over the term of the loan with changes in the LIBOR rate, and will vary based on applicable terms, level of degree and presence of a co-signer. The maximum variable rate is the greater of 21.00% or Prime Rate plus 9.00%.  Fixed Rate Disclosure: Fixed rate ranges are based on applicable terms, level of degree, and presence of a co-signer. Lowest Rate Disclosure: Lowest rates require a 5-year repayment term, immediate repayment, a graduate degree (where applicable), and include our Loyalty and Automatic Payment discounts of 0.25 percentage points each, as outlined in the Loyalty Discount and Automatic Payment Discount disclosures. Rates are subject to additional terms and conditions, and are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change. Federal Loan vs. Private Loan Benefits: Some federal student loans include unique benefits that the borrower may not receive with a private student loan, some of which we do not offer.  Borrowers should carefully review federal benefits, especially if they work in public service, are in the military, are considering possible loan forgiveness options, are currently on or considering income based repayment options or are concerned about a steady source of future income and would want to lower their payments at some time in the future. When the borrower refinances, they waive any current and potential future benefits of their federal loans. For more information about federal student loan benefits and federal loan consolidation, visit http://studentaid.ed.gov/. We also have several resources available to help the borrower make a decision on our website including Should I Refinance My Student Loans? and our FAQs. Should I Refinance My Student Loans? includes a comparison of federal and private student loan benefits that we encourage the borrower to review. Eligibility Criteria: Applicants must be a U.S. citizen, permanent resident, or eligible non-citizen with a creditworthy U.S. citizen or permanent resident co-signer. For applicants who have not attained the age of majority in their state of residence, a co-signer is required. Citizens Bank reserves the right to modify eligibility criteria at any time. Citizens Bank private student loans are subject to credit qualification, completion of a loan application/Promissory Note, verification of application information, and if applicable, self-certification form, school certification of the loan amount, and student’s enrollment at a Citizens Bank participating school. Loyalty Discount Disclosure: The borrower will be eligible for a 0.25 percentage point interest rate reduction on their loan if the borrower or their co-signer (if applicable) has a qualifying account in existence with us at the time the borrower and their co-signer (if applicable) have submitted a completed application authorizing us to review their credit request for the loan. The following are qualifying accounts: any checking account, savings account, money market account, certificate of deposit, automobile loan, home equity loan, home equity line of credit, mortgage, credit card account, or other student loans owned by Citizens Bank, N.A. Please note, our checking and savings account options are only available in the following states: CT, DE, MA, MI, NH, NJ, NY, OH, PA, RI, and VT and some products may have an associated cost. This discount will be reflected in the interest rate disclosed in the Loan Approval Disclosure that will be provided to the borrower once the loan is approved. Limit of one Loyalty Discount per loan and discount will not be applied to prior loans. The Loyalty Discount will remain in effect for the life of the loan. Automatic Payment Discount Disclosure: Borrowers will be eligible to receive a 0.25 percentage point interest rate reduction on their student loans owned by Citizens Bank, N.A. during such time as payments are required to be made and our loan servicer is authorized to automatically deduct payments each month from any bank account the borrower designates. Discount is not available when payments are not due, such as during forbearance. If our loan servicer is unable to successfully withdraw the automatic deductions from the designated account three or more times within any 12-month period, the borrower will no longer be eligible for this discount. 7 Important Disclosures for Funding U. Funding U Disclosures Offered terms are subject to change. Loans are made by Funding University which is a for-profit enterprise. Funding University is not affiliated with the school you are attending or any other learning institution. None of the information contained in Funding University’s website constitutes a recommendation, solicitation or offer by Funding University or its affiliates to buy or sell any securities or other financial instruments or other assets or provide any investment advice or service. 8 Important Disclosures for CommonBond. CommonBond Disclosures Offered terms are subject to change and state law restriction. Loans are offered by CommonBond Lending, LLC (NMLS # 1175900), NMLS Consumer Access. If you are approved for a loan, the interest rate offered will depend on your credit profile, your application, the loan term selected and will be within the ranges of rates shown.  If you choose to complete an application, we will conduct a hard credit pull, which may affect your credit score. All Annual Percentage Rates (APRs) displayed assume borrowers enroll in auto pay and account for the 0.25% reduction in interest rate. All variable rates are based on a 1-month LIBOR assumption of 0.15% effective Jan 1, 2021 and may increase after consummation.