Fresno State is among the nation’s most affordable universities according to a report by the U.S. Department of Education. The rankings of most and least expensive colleges in the country were released on Monday.

The annual affordability ranking is based on the net price to attend Fresno State, which is calculated by subtracting the average amount of financial aid from the total cost of attendance. Under this formula, Fresno State’s net price of $5,894 is well below the national average of $11,582 for public four-year universities.

“Our students get an extraordinary value with their Fresno State education,” said University President Joseph I. Castro. “Fresno State’s emphasis on student success is resonating with Valley students and their families.”

Congress mandated the U.S. Department of Education to compile the cost rankings as part of the 2008 reauthorization of the Higher Education Act, which determines how federal dollars are awarded to colleges and students.

Miami University-Oxford in Ohio topped the list as most expensive four-year public universities, with a net price of $24,674.

“These lists support our efforts to make college more accessible and to help families make informed decisions on the single most important investment students can make in their own futures,” said Arne Duncan, U.S. Secretary of Education.

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