It’s no secret that college education is expensive. So, many students ask the burning question: Is college worth it?
The price of private education is $33,480 USD on average. This amount can skyrocket up to a lot more by the time a student completes their degree. However, believe us when we tell your degrees are worth their cost, especially if you choose colleges with the best ROI.
The US Bureau of Labor Statistics reports that employees with a degree earn considerably more than high-school diploma holders. People who have a graduate degree have a better chance to move up in their career. College ROI is calculated on the basis of three key factors:
- Potential Debt
- Net Price
- Potential Earnings
Here is our list of 5 colleges with the best ROI:
The university is 15 miles away from Los Angeles. The school only has 250 admissions per year with an admission rate of only 9%. CalTech offers various STEM degrees at an average tuition fee of $45,390. However, you can apply for scholarships and almost 60% of students benefit from some kind of financial aid.
The average starting salary of this school’s graduates is $74,200 per year. Education at Caltech not only allows you to study at one of the greatest institutes for science and engineering but also, avail an astounding ROI.
Only the smartest and the most hardworking students have the opportunity to get into MIT. The university is ranked #1 in the QS World University Rankings. MIT’s admission rate stands at 7.9%. The university has strong connections with the biggest names in the industry.
The average tuition fee is $46,704 for most programs in the university. Almost 91% of the students get some financial aid through scholarships, work-study and/or loans.
The university also has one of the best ROI among colleges for engineering. The average starting salary is as high as $76,184 per annum. While it can also skyrocket to as high as $94,200 or more!
HMC can feel like both a small liberal arts college and a large university. The university offers programs for engineering and technology but also has a great collaborative environment.
The university has an admission rate of 12.9%. The average tuition fee of the program amounts up to $56,331 but 75% of the students can take advantage of financial aid. Students can benefit from an amazing ROI with an approximate median mid-career salary of $155,000.
This institute certainly ranks on the list of colleges with the best ROI. It is a public university with an admission rate of a solid 68%. This college is one of the oldest and largest maritime universities in USA. Students have to wake up early, wear uniforms and give on-ship duties full-military-style. However, you can prepare for any career you choose. Students aren’t obligated to serve in the military after graduation.
The average tuition fee is an amazing $17,659 for out-of-state students. With an average salary of $76,700, the university graduates can certainly reap a handsome ROI.
Stanford is one of the most renowned universities in the US and is ranked as the second-best in the QS rankings. The university is located near the highly popular Silicon Valley. Students can take part in graduate programs for an average tuition fee of $46,320.
About 70% of students are fortunate recipients of financial aid from Stanford. In some cases, the university covers the tuition fees and even the expenses of rooms and board fees. The brilliant Stanford graduates earn an average salary of $85,700 and is certainly one of the colleges with the best ROI.
A college education offers a high ROI for ambitious graduates. If you’re looking to find the university that suits your needs, you need to have the right contacts to get you through the admission process.
iSchoolConnect can not only help you manage your college or university application but also give you program and university recommendations based on your profile and scores. We guide you in every step so you can join the best minds of the world in the USA. So if you want to take a step closer to your academic success, contact us through our website now.
A writer by day and a reader by night, Rashmi is a quirky cog, in the wheel that is iSchoolConnect. She spends her days writing intriguing and informative articles about all things Higher-Ed.