Public universities receive varying degree of state funding and and due its reliance on public funding sources, usually have a much wider range of students as compared to private universities. Hence a very different stress test is required for public universities as compared to private colleges. For private colleges the focus is mostly on the 4 year graduation rate. In contrast, for public universities, you should look at both the 4 year and 6 year graduation rates in tandem. Most public universities will also report their 8 year graduation rate, which is quite different from private colleges where the 8 year graduation rate is rarely reported. However the graduation data shows that the 8 year graduation rate very closely tracks the 6 year graduation rate and only in very rare cases is there a marked difference between the 6 year and 8 year graduation rates. So for all practical purposes the 8 year graduation rate is not required while evaluating a public university.
Use this table as you evaluate or compare public universities:
| Range | 4-yr Graduation Rate | 6-yr Graduation Rate |
|---|---|---|
| Top | 50% and above | 75% and above |
| Mid | 25%-50% | 50%-75% |
| Bottom | Under 25% | Under 50% |
You may find that the stress test for a public university is more generous as compared to that for a private college. The reasons are manifold. Certainly the wider spectrum of students, the number of students, the number of majors offered, many schools under one umbrella...such as a college of engineering, arts and science, nursing etc, contribute to a wider graduation spectrum.
Going Out of State
If you are thinking of going to an out of state public university, then the distinction between the private and public stress tests for graduation rates blur a little bit. In that case, it is good to be a bit stricter with the graduation rates than you would for an in state public university. The costs of an out of state public university can come close to that of a private college. E.g. the cost of attending (tuition/fees + room and board) University of Virginia (UVA) is approximately $60-65,000 a year with a 4 year graduation rate of 87%.
A good stress test for out of state public university would be:
| Range | 4-yr Graduation Rate | 6-yr Graduation Rate |
|---|---|---|
| OOS Top 1 | 70% and above | |
| OOS Top 2 | 60%-70% | |
| OOS Top 3 | 50%-60% | 75% and above |
| Mid | 25%-50% | 50%-75% |
| Bottom | Under 25% | Under 50% |
It is much harder to compare an out of state public university with a private college in the same cost range without delving into admission rate, which will be the topic of discussion in our next newsletter. And yet these comparisons are important as many students apply to a range of public and private colleges.