Founded in 1813, Colby is one of the oldest liberal arts colleges in the U.S. and prides itself on the opportunities it provides for undergraduate research.

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On campus, Colby's roughly 2,300 undergraduates praise the close relationships they're able to form with professors, some of whom even invite students over for home-cooked dinners. Academically, the top fields of study include economics, natural resources conservation and research, and political science.

Although Colby has a high sticker price — its total cost of attendance is about $87,000 per year — students from low- and middle-income families pay a fraction of that. Colby also scores well in several outcome measures in Money’s analysis. The median early-career earnings after students leave Colby, for example, are over $80,000, higher than that of comparable schools.

The campus has an idyllic, New England feel, with an on-campus arboretum and nature trails. But its location in central Maine is a bit off the beaten path, with the nearest large city, Portland, some 90 minutes to the south.