FOR IMMEDIATE RELEASE
Aug. 20, 2004

CONTACT: Lisa Lacher, (515) 271-3119, (515) 202-1773, lisa.lacher@drake.edu

DRAKE MOVES UP ON 'BEST VALUE' LIST, ADVANCES TO NO. 4 OVERALL

Drake University has jumped to third from sixth place in the "best value" category for Midwestern institutions classified as Universities-Master's in U.S. News and World Report magazine's 2005 edition of America's Best Colleges. The magazine noted that 58 percent of Drake students receive grants based on financial need. The University also provides scholarships based on academic merit, which are not calculated in this category.

"Our improved ranking in the 'best value' category demonstrates the success of Drake's commitment to offer the highest quality in educational opportunity that is more affordable than many students and families realize," said Drake University President David Maxwell. "People know that we're one of the very best; it's important for them to know that we're financially accessible. Last year, we committed $29 million of our own funds in financial aid. Overall, almost 95 percent of our students receive some form of support from the University, and the average award is approaching $15,000 per year."

The magazine's formula used to determine which schools offer the best value relates a school's academic quality, as indicated by its U.S. News ranking, to the net cost of attendance for a student who receives the average level of financial aid. The higher the quality of the program and the lower the cost, the better the ranking.

In the overall rankings of 142 Midwest Universities-Master's, Drake advanced from fifth to fourth and remains as one of two highest rated universities in reputation for academic quality (peer assessment). It has the highest ranking in its category of any Iowa college or university.

Drake's academic quality is reflected in the university's student/faculty ratio of 14/1 and the high percentage of full-time faculty (85 percent). In addition, the percentage of classes with fewer than 20 students climbed to 41 percent from 38 percent the previous year. Learning research has demonstrated a strong correlation between small class size and the quality of learning.

U.S. News' annual "America's Best Colleges" special issue and complete guidebook will be on newsstands and in bookstores next week. All of the latest U.S. News rankings are available at http://www.USNews.com.