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Babson College tops list of best colleges for your money

Babson College is located just outside of Boston. Credit: Wikimedia Commons Babson College is located just outside of Boston.
Credit: Wikimedia Commons

Money magazine has just released its inaugural list of "The Best Colleges for Your Money" -- and the answers have surprised many.

Babson College, which is located in the Boston suburbs, topped the list. The college's strong focus on business and entrepreneurship were both cited as big reasons the school ranked so highly. The magazine reports that Babson alums earn an average of almost $60,000 a year five years after graduation, which is $13,000 more than comparable schools. Babson is also unusual for the fact that students can only earn a degree in business, though they can also specialize in a concentration.

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Another little-known school came in second on the list. With only 80 undergraduates, Webb Institute is probably the smallest college on the list by a long shot. Located in Long Island, NY the school specializes innaval architecture and marine engineering. Webb is also notable for the fact that thanks to an endowment every student who is an American citizen or a legal resident gets a full scholarship.

The Massachusetts Institute of Technology, Princeton University and Stanford University round out the top five on the list.

Money's editors say they based the list on how each school ranked in three categories:educational quality, affordability, and alumni earnings.

Follow Lakshmi Gandhi on Twitter @LakshmiGandhi.

 
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