A study released this week by a national personal finance website has an Ohio city topping the list for the best college cities and towns in the country.
WalletHub.com, a national website that touts itself as “the web’s best personal finance resource,” released a study Wednesday titled “2014’s Best and Worst College Cities and Towns in America,” which found Oxford, Ohio — home to Miami University — atop its rankings as the best in the nation.
The study, which the website conducted “in order to find the college cities and towns in America that are most conducive to intellectual and personal development as well as a healthy billfold,” evaluated 280 cities across the United States using three different areas — wallet wellness, youth-oriented environment and opportunities — that were measured by 23 metrics, ranging from cost of living and higher education to crime rate, unemployment and even the number of nightlife options in the area.
Oxford ranked first overall for the best college city or town in the country, ahead of such college towns as State College, Pa.; Chapel Hill, N.C.; and Corvallis, Ore. It ranked first in the area of opportunities, while also ranking 16th for youth-oriented environment and 23rd for wallet wellness, according to the study.
Nicholas Prewett, director of financial aid for the University of Missouri and an expert who assisted WalletHub with the study, said the city or town a college is located in plays a major role in whether a students decides to attend that school.
“If someone wants opportunities outside of the classroom to grow as an individual, going to a school in a location which offers opportunities to experience new things, different cultures, and differing views of the world, would be important. There are opportunities to experience some of this at most institutions, but college towns are often more diverse and bring a greater amount of opportunities for those kinds of experiences,” he stated. “Students should feel safe and welcome not only by the institution but also the town they will be spending the next 4 plus years. In addition, students often look to do internships, jobs, or internships with local businesses to gain experience before graduating. If there are opportunities within a college town to get those experiences, it looks more appealing to prospective students.”
