U.S. News & World Report ranks Miami University third in the nation for "efficiently spend(ing) limited resources in order to produce the highest possible educational quality."
U.S. News released an “exclusive” new list Dec. 6 showing which schools in its 2013 edition of America's Best Colleges are able to spend relatively less money to achieve such high quality. The new list is based on operating efficiency, defined as a school's 2011 fiscal year financial resources per student, divided by its overall score in the 2013 Best Colleges rankings.
This new list's calculation reveals how much each school is spending to achieve one point in the overall score and its position in the rankings. The less a school is spending relative to its ranking, the more efficient it is in producing a quality education among its peers, say editors.
While Miami appeared at #89 in the September overall ranking, this equation brings Miami to a #3 spot for quality plus efficiency.
“Schools that are featured on this list are doing a good job in managing their financial resources relative to other schools that may have larger state funding, higher tuition, or larger endowments,” said Robert Morse and Diane Tolis, editors.
U.S. News measured financial resources by taking into account how much a school spends per student on instruction, research, student services and related educational expenditures. Financial resources have a 10 percent weight in the Best Colleges ranking methodology.
Among special lists in the September-released ranking, Miami is third among national universities for its "unusually strong commitment to undergraduate teaching." Miami has appeared in the top eight on this list since it was started four years ago.
Miami University ranks 11th in the nation when it comes to return on (tuition) investment, according to a September 2012 SmartMoney.com ranking.