2023 best colleges in Indiana

On top of its favorable location in an up-and-coming city for young professionals, Indiana University Bloomington boasts an NCAA Division I sports team and ranks as a Public Ivy for its high-quality academic programs. But don’t sleep on Purdue University, which is home to one of the country’s best engineering programs and consistently ranks among the most innovative colleges. When not socializing or studying at the renowned University of Notre Dame, students head to support the Fighting Irish, another one of the state’s NCAA Division I sports teams.

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  • Indiana
  • Liberal Arts
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Net cost: The median annual cost of all students that receive any aid. This does not refer to the “sticker price”, the price listed by the college.

Earnings: The median earnings of all bachelor-level students 10 years after enrollment. This includes both students that do and do not graduate, across all majors.

Payback measures how long it takes the average student to pay back the total cost of attending college with marginal earnings. Marginal earnings are the difference between what the average student would have earned before attending college and what they earn afterwards.

EarningsPlus compares student earnings after college against a benchmark that Degreechoices adjusts based on each school’s unique mix of academic programs and the in-state/out-of-state composition of the student body.

Rankings: The ranking order is based on the economic score.The economic score is the combination of payback and earningsplus, and is how we determine a school’s rank. The lower the economic score the better.

Net cost
Payback
Earnings
EarningsPlus
Rankings
Ranking methodology
#1 in Indiana | #18 in Liberal Arts

Wabash College

Crawfordsville, Indiana

Economic score: 2.18

The Economic Score is the combination of payback and earningsplus, and is how we determine a school’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.

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Net cost: $22,910

The median net cost of students who receive federal financial aid. This is lower than the price advertised by the school.

Payback: 2.5 years

Payback measures how long it takes the average student to pay back the total cost of attending college with marginal earnings. Marginal earnings are the difference between what the average student would have earned before attending college and what they earn afterwards.

Earnings: $63,425

Median earnings of all students 10 years after enrollment. Includes students that did not graduate.

EarningsPlus: + $3,761

EarningsPlus compares student earnings after college against a benchmark that Degreechoices adjusts based on each school’s unique mix of academic programs and the in-state/out-of-state composition of the student body.

Admission rate: 62%
Graduation rate: 73%

Graduation rates below the school’s state average are shown in red. Schools with graduation rates in the bottom 25% nationally (48%) are not ranked and are displayed at the end of the ranking list.

#2 in Indiana | #35 in Liberal Arts

DePauw University

Greencastle, Indiana

Economic score: 2.55

The Economic Score is the combination of payback and earningsplus, and is how we determine a school’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.

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Net cost: $25,587

The median net cost of students who receive federal financial aid. This is lower than the price advertised by the school.

Payback: 2.8 years

Payback measures how long it takes the average student to pay back the total cost of attending college with marginal earnings. Marginal earnings are the difference between what the average student would have earned before attending college and what they earn afterwards.

Earnings: $62,462

Median earnings of all students 10 years after enrollment. Includes students that did not graduate.

EarningsPlus: + $3,549

EarningsPlus compares student earnings after college against a benchmark that Degreechoices adjusts based on each school’s unique mix of academic programs and the in-state/out-of-state composition of the student body.

Admission rate: 65%
Graduation rate: 84%

Graduation rates below the school’s state average are shown in red. Schools with graduation rates in the bottom 25% nationally (48%) are not ranked and are displayed at the end of the ranking list.

#3 in Indiana | #49 in Liberal Arts

Saint Mary's College

Notre Dame, Indiana

Economic score: 2.94

The Economic Score is the combination of payback and earningsplus, and is how we determine a school’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.

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Net cost: $23,625

The median net cost of students who receive federal financial aid. This is lower than the price advertised by the school.

Payback: 3.1 years

Payback measures how long it takes the average student to pay back the total cost of attending college with marginal earnings. Marginal earnings are the difference between what the average student would have earned before attending college and what they earn afterwards.

Earnings: $56,655

Median earnings of all students 10 years after enrollment. Includes students that did not graduate.

EarningsPlus: + $2,483

EarningsPlus compares student earnings after college against a benchmark that Degreechoices adjusts based on each school’s unique mix of academic programs and the in-state/out-of-state composition of the student body.

Admission rate: 83%
Graduation rate: 79%

Graduation rates below the school’s state average are shown in red. Schools with graduation rates in the bottom 25% nationally (48%) are not ranked and are displayed at the end of the ranking list.

#4 in Indiana | #80 in Liberal Arts

Hanover College

Hanover, Indiana

Economic score: 3.53

The Economic Score is the combination of payback and earningsplus, and is how we determine a school’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.

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Net cost: $20,732

The median net cost of students who receive federal financial aid. This is lower than the price advertised by the school.

Payback: 3.5 years

Payback measures how long it takes the average student to pay back the total cost of attending college with marginal earnings. Marginal earnings are the difference between what the average student would have earned before attending college and what they earn afterwards.

Earnings: $49,535

Median earnings of all students 10 years after enrollment. Includes students that did not graduate.

EarningsPlus: - $1,117

EarningsPlus compares student earnings after college against a benchmark that Degreechoices adjusts based on each school’s unique mix of academic programs and the in-state/out-of-state composition of the student body.

Admission rate: 73%
Graduation rate: 69%

Graduation rates below the school’s state average are shown in red. Schools with graduation rates in the bottom 25% nationally (48%) are not ranked and are displayed at the end of the ranking list.

#5 in Indiana | #124 in Liberal Arts

Franklin College

Franklin, Indiana

Economic score: 4.43

The Economic Score is the combination of payback and earningsplus, and is how we determine a school’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.

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Net cost: $20,535

The median net cost of students who receive federal financial aid. This is lower than the price advertised by the school.

Payback: 3.9 years

Payback measures how long it takes the average student to pay back the total cost of attending college with marginal earnings. Marginal earnings are the difference between what the average student would have earned before attending college and what they earn afterwards.

Earnings: $46,950

Median earnings of all students 10 years after enrollment. Includes students that did not graduate.

EarningsPlus: - $5,260

EarningsPlus compares student earnings after college against a benchmark that Degreechoices adjusts based on each school’s unique mix of academic programs and the in-state/out-of-state composition of the student body.

Admission rate: 95%
Graduation rate: 66%

Graduation rates below the school’s state average are shown in red. Schools with graduation rates in the bottom 25% nationally (48%) are not ranked and are displayed at the end of the ranking list.

#6 in Indiana | #133 in Liberal Arts

Holy Cross College

Notre Dame, Indiana

Economic score: 4.89

The Economic Score is the combination of payback and earningsplus, and is how we determine a school’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.

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Net cost: $23,997

The median net cost of students who receive federal financial aid. This is lower than the price advertised by the school.

Payback: 5.2 years

Payback measures how long it takes the average student to pay back the total cost of attending college with marginal earnings. Marginal earnings are the difference between what the average student would have earned before attending college and what they earn afterwards.

Earnings: $44,032

Median earnings of all students 10 years after enrollment. Includes students that did not graduate.

EarningsPlus: + $3,122

EarningsPlus compares student earnings after college against a benchmark that Degreechoices adjusts based on each school’s unique mix of academic programs and the in-state/out-of-state composition of the student body.

Admission rate: 86%
Graduation rate: 57%

Graduation rates below the school’s state average are shown in red. Schools with graduation rates in the bottom 25% nationally (48%) are not ranked and are displayed at the end of the ranking list.

#7 in Indiana | #142 in Liberal Arts

Earlham College

Richmond, Indiana

Economic score: 5.67

The Economic Score is the combination of payback and earningsplus, and is how we determine a school’s rank. The lower the economic score the better. For an analysis of how we arrive at the economic score, and a description of our data sources, please visit our methodology page.

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Net cost: $19,368

The median net cost of students who receive federal financial aid. This is lower than the price advertised by the school.

Payback: 4.4 years

Payback measures how long it takes the average student to pay back the total cost of attending college with marginal earnings. Marginal earnings are the difference between what the average student would have earned before attending college and what they earn afterwards.

Earnings: $43,449

Median earnings of all students 10 years after enrollment. Includes students that did not graduate.

EarningsPlus: - $11,058

EarningsPlus compares student earnings after college against a benchmark that Degreechoices adjusts based on each school’s unique mix of academic programs and the in-state/out-of-state composition of the student body.

Admission rate: 69%
Graduation rate: 64%

Graduation rates below the school’s state average are shown in red. Schools with graduation rates in the bottom 25% nationally (48%) are not ranked and are displayed at the end of the ranking list.

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