A new report ranked Carleton College in Northfield at the top of the list among the best schools in Minnesota, based on categories including admission rate, net cost and financing, and career outcomes.

The school boasts a "strong admission rate, very selective, very low student faculty ratio – which is one of the key factors that we look at – very good diversity, graduation rate," said WalletHub's Chip Lupo.

Rounding out the list of Minnesota schools considered to be the best of the best were Macalester, St. Olaf, the University of Minnesota, and Concordia College in Moorhead.

If you are the parent of a teenager, chances are you're preoccupied with college rankings, rising costs and tough decisions. Money plays a big role in college decisions for eight out of 10 families, according to

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