Students are increasingly associating higher education with the burden of student debt, leaving students and parents searching for affordable alternatives or delaying enrollment. Fortunately, most degrees still pay out in the long run, and attending university can be a smart first step in a young person’s career path. The well-known risks and downsides of accumulating education debt are leaving families to seek budget-friendly options without sacrificing quality or reputation.
The University of Alaska Anchorage stands out as a beacon of affordability and has departments that rival premier state schools in quality. In-state tuition at the university is incredibly reasonable, making it a prime choice for residents seeking higher education without incurring a mountain of debt. For instance, an Anchorage area student living with their parents can expect to spend $7,000 in tuition for their freshman year – and this is before any potential scholarships or financial aid. This is less than what most other schools in the Western Undergraduate Exchange (WUE) program charge.1 For instance, the University of Washington would charge roughly $40,000 in tuition for the same, and this doesn’t include the price difference for housing and meals.
But affordability is only one part of the decision of where to attend school. Quality education often leads to a professional network and access to opportunities upon graduation. The University of Alaska Anchorage College of Business and Public Policy (UAA CBPP) sets an example of excellence by being AACSB accredited, a standard met by only 6% of Business Schools.2 This prestigious accreditation ensures that students receive top-notch education and are equipped with skills that are highly sought after in the professional world.
I am most familiar with my own home department, the Department of Economics in the College of Business and Public Policy. Our BA and BBA programs are in person, and faculty are engaged and available to students. We have small class sizes and students often can often participate in academic research as undergraduates. We are ranked in the top 10% of all economics departments in research productivity in experimental.3 This ranking includes universities like Yale and Harvard. We regularly have high profile speakers who meet with undergraduate students and give public presentations. In the last 2 years we’ve had two Nobel Prize winners and speakers who served in the Clinton, Obama, Trump, and Biden White House administrations give public lectures and meet with students.
Department of Economics alumni have secured spots at graduate programs and law schools at institutions like Cambridge University, Johns Hopkins University, the London School of Economics, Harvard Kennedy School, and the University of Chicago. Moreover, many have received fully funded scholarships to pursue graduate degrees, including PhDs, along with stipends to cover living expenses. Some of our alumni are now faculty at top universities. And students who attend UAA are more likely to stay in Alaska – taking jobs in state government and the private sector. Our alumni are equipped to lead in the private sector, serving in the state government, and working as economists as well as in more general business roles.
Because of the UA Scholars program, students who take advantage of these opportunities often end up with advanced degrees with little to no debt and credentials that compete with those from the best schools in the lower 48 states. By choosing to take advantage of local opportunities like studying in the University of Alaska Anchorage College of Business, students position themselves for success, leaving the worries of education debt behind and embracing a bright and promising future.
Kevin Berry
Associate Professor of Economics
UAA College of Business and Public Policy
7/31/22
Material presented has been derived from sources considered to be reliable, but accuracy and completeness cannot be guaranteed.
1.Cost: Tuition and Fees | Students | University of Alaska Anchorage. Estimated Annual Cost of Attendance for First-Year Undergraduates | Office of Planning & Budgeting (washington.edu). WUE Savings Finder – WICHE
2. 2022 State of Accreditation Report | AACSB
3. Economics Field Rankings: Experimental Economics | IDEAS/RePEc
