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May 27, 2013 at 09:54 AM
Many factors can be used in determining which college to attend. Big school. Small school. Cost. Networking. Whether it offers the desired course of study. Whether graduates can expect a high starting salary.
All of those are fine, but with the cost of an education rising to astronomical heights, a better strategy might be to look at college the way you would view any other investment. Fortunately, payscale.com has collected data to determine how colleges fare in terms of return on investment (ROI), which some may call “bang for the buck” but ThinkAdvsior will call “best value.”
Most of the schools are private, but some state institutions made the list. In fact, three schools, including the top one on the list, made it twice, once each for in-state and out-of-state students.
The methodology payscale.com used to compare 1,511 schools in the U.S. includes only data on graduates who earned bachelor’s degrees. We thought it was interesting to look at the rankings based on annualized ROI. The annualized ROI, the site says, “is the earnings differential divided by the weighted cost for a 2012 graduate, annualized to represent the percent of expected ROI received each year after graduation.” For most schools, the confidence payscale.com has in its calculations is 90%, with an error rate of plus or minus 5%.
(Check out Top 30 Colleges for Highest Staring Salaries: 2013)
Here, then, are the Top 25 Best Value Colleges:
25. SUNY-BINGHAMTON
Location: Binghamton, N.Y.
Annual ROI: 8.7%
30-Year Net ROI: $861,700 (143rd)
2012 Cost: $80,640
24. UNIVERSITY OF MASSACHUSETTS-LOWELL
Location: Lowell, Mass.
Annual ROI: 8.8%
30-Year Net ROI: $1,094,000 (50th)
2012 Cost: $97,130
23. WILLIAM AND MARY
Location: Williamsburg, Va.
Annual ROI: 8.8%
30-Year Net ROI: $1,036,000 (65th)
2012 Cost: $92,910
22. UNIVERSITY OF ALASKA-FAIRBANKS
Location: Fairbanks, Alaska
30-Year Net ROI: $841,300 (159th)
Annual ROI: 8.8%
2012 Cost: $75,130
21. LOUISIANA TECH
Location: Ruston, La.
Annual ROI: 8.9%
30-Year Net ROI: $804,100 (184th)
2012 Cost: $69,980
20. OREGON INSTITUTE OF TECHNOLOGY
Location: Klamath Falls, Ore.
Annual ROI: 8.9%
30-Year Net ROI: $979,100 (85th)
2012 Cost: $84,510
19. VIRGINIA TECH
Location: Blacksburg, Va.
Annual ROI: 8.9%
30-Year Net ROI: $1,037,000 (63rd)
2012 Cost: $91,790
18. CALIFORNIA POLYTECHNIC STATE UNIVERSITY-SAN LUIS OBISPO
Location: San Luis Obispo, Calif.
Annual ROI: 9%
30-Year Net ROI: $1,151,000 (37th)
2012 Cost: $97,730
17. TEXAS A&M UNIVERSITY
Location: College Station, Texas
Annual ROI: 9%
30-Year Net ROI: $1,057,000 (57th)
2012 Cost: $88,920
16. SOUTHERN POLYTECHNIC UNIVERSITY
Location: Marietta, Ga.
Annual ROI: 9%
30-Year Net ROI: $934,500 (101st)
2012 Cost: $79,290
15. WEST VIRGINIA UNIVERSITY INSTITUTE OF TECHNOLOGY
Location: Montgomery, W.Va.
Annual ROI: 9%
30-Year Net ROI: $904,300 (117th)
2012 Cost: $76,610
14. SUNY MARITIME COLLEGE
(out-of-state)
Location: Bronx, N.Y.
Annual ROI: 9.2%
