Fox Business named BYU one of the 10 best-valued colleges for the price in an article late last week.
"For students who are LDS Church members, the school is an unbelievably good deal with consistently top-ranked academics and rock-bottom tuition set at $4,560 for 2011-2012," Fox reported, adding that this calculates to be about one-fifth the cost of the average four-year private college. "The sticker price for students who aren't LDS Church members is set at twice the figure for members — $9,120 for 2011-2012 undergrads."
BYU's admission department explains on its brochure that since the cost of education at BYU is "greatly reduced" by tithing funds from the LDS Church, church members have a lower tuition fee — similar to state colleges assigning a lower fee to in-state students.
But Fox also mentions that 97 percent of BYU's student body is LDS, so "if you're looking for a school with a religiously diverse student body, this isn't the spot for you," the outlet reported.
Other schools named in the "10 Best Colleges for the Money" by Fox Business included New Mexico Institute of Mining and Technology in Socorro, Arizona State, North Carolina-Asheville and Scripps College in Claremont, Calif. All of these schools had substantial financial aid packages for out-of-state students depending on how much money their families made.
U.S. News also recently ranked colleges based on academic value and net cost and BYU came in at No. 20 in the national universities category with about 29 percent of its students receiving need-based grants and an average discount from the total cost of tuition at 27 percent.
Yale University was ranked No. 1 in the U.S. News "Great Schools, Great Prices" ranking followed by Harvard, Princeton, the Massachusetts Institute of Technology and Stanford.