In 2003, Chancellor James Moeser announced the Carolina Covenant, wherein UNC offers a debt free education to low-income students who are accepted to the university. The program was the first of its kind at a public university and the second overall in the nation (following Princeton University). About 80 other universities have since followed suit.[161]
Kiplinger's Personal Finance in 2015 ranked UNC-Chapel Hill as the number one "best value" public college in the country.[152] The university also topped The Princeton Review's list of the Best Value Colleges in 2014.[153] Similarly, the university is first among public universities and ninth overall in "Great Schools, Great Prices", on the basis of academic quality, net cost of attendance and average student debt.[154]