Get "Best Bang for the Buck" at Ripon and St. Norbert college

File photo.

Ripon and St. Norbert College ranked high in "America's Best Bang for the Buck" liberal arts colleges list.

Ripon College is ranked at 23, while St. Norbet College ranked at 32, for the second year in a row.

According to Washington Monthly magazine, the schools that are ranked must do a good job in helping non-wealthy students attain marketable degrees at affordable prices.

Out of 1,572 colleges and universities, only 349 made the cut.

To get ranked, the schools must meet four criteria:

  1. 20 percent of students must be receiving Pell Grants

  2. Must have a graduation rate of at least 50 percent

  3. The school's actual graduation rate must exceed the rate that is statistically predicted for that school given the amount of lower-income students admitted

  4. Must have a student loan default rate of 10 percent or less.

You can see Washington Monthly's full list of rankings here: