With the costs of college continuing to climb, figuring out whether a school is a good investment is paramount for many when choosing the right place to earn a degree.
PayScale.com has released its annual list ranking how colleges fare in terms of return on investment. The list is a good resource for parents and students to consult when making a decision.
In the end, college is about more than dollars and cents, of course. But it's hard to ignore the data in PayScale's list. It might be worth considering whether being saddled with student loan debt is worth it for a school whose graduates earn less than students from other schools.
The methodology PayScale used to compare 962 schools in the U.S. includes only data on graduates who earned bachelor's degrees. It calculates 20-year ROI by taking the difference between the 20-year median pay for a 2015 graduate and the 24-year median pay for a 2015 high school graduate, then subtracting the 4-year cost of attending the college. Most of the schools on this list have a negative ROI.
Some public schools made this list separately for in-state and out-of-state grads; in those cases we eliminated the out-of-state numbers from our ranking. But the out-of-state grads, with higher tuition, fared worse.
Continue reading to learn about 30 colleges for the worst ROI…
30. Evangel University
Location: Springfield, Missouri
20-Year Net ROI: $4,430
4-Year Cost: $127,000
Typical Years to Graduate: 4
Average Loan Amount: $30,300
Photo: Trask Hall is one of the academic buildings on Evangel's campus. (evangel.edu)
29. Buena Vista University
Location: Storm Lake, Iowa
20-Year Net ROI: $1,300
4-Year Cost: $160,000
Typical Years to Graduate: 4
Average Loan Amount: $34,300
28. Berklee College of Music
Location: Boston
20-Year Net ROI: ($3,700)
4-Year Cost: $231,000
Typical Years to Graduate: 4
Average Loan Amount: $62,000
Photo: The Isley Brothers, Ronald, left, and Ernie, right, receive honorary doctor of music degrees from Berklee College of Music during commencement ceremonies in Boston on May 7, 2016. (AP Photo/Michael Dwyer)
27. Ripon College
Location: Ripon, Wisconsin
20-Year Net ROI: ($5,100)
4-Year Cost: $168,000
Typical Years to Graduate: 4
Average Loan Amount: $35,400
26. Nazareth College of Rochester
Location: Rochester, New York
20-Year Net ROI: ($6,900)
4-Year Cost: $173,000
Typical Years to Graduate: 4
Average Loan Amount: $35,000
Photo: Nazareth College 2016 commencement (Facebook.com/NazarethCollege)
25. The College of Saint Rose
Location: Albany, New York
20-Year Net ROI: ($7,100)
4-Year Cost: $166,000
Typical Years to Graduate: 4
Average Loan Amount: $30,700
24. Chatham University
Location: Pittsburgh
20-Year Net ROI: ($7,200)
4-Year Cost: $182,000
Typical Years to Graduate: 4
Average Loan Amount: $23,500
Photo: Chatham University features a campus labyrinth. (Wikimedia Commons)
23. Manfield University
Location: Mansfield, Pennsylvania
20-Year Net ROI: ($7,300)
4-Year Cost: $132,000
Typical Years to Graduate: 4
Average Loan Amount: $33,700
22. Maryland Institute College of Art (MICA)
Location: Baltimore
20-Year Net ROI: ($8,100)
4-Year Cost: $216,000
Typical Years to Graduate: 4
Average Loan Amount: $34,200
Photo: The Gateway building designed by RTKL Associates, Inc. is one of several noteworthy pieces of architecture at MICA. (Wikipedia Commons)
21. Elizabeth City State University (in state)
Location: Elizabeth City, North Carolina
20-Year Net ROI: ($9,000)
4-Year Cost: $49,000
Typical Years to Graduate: 5
Average Loan Amount: $19,500
20. University of Hawaii at Hilo (out of state)
Location: Hilo
20-Year Net ROI: $10,000
4-Year Cost: $116,000
Typical Years to Graduate: 5
Average Loan Amount: $27,900
Photo: Some people would rather call this 10-branch university system, of which Hilo is one, "Hawaii State University." (By Vreed/Wikipedia Commons)
19. Clarke University
Location: Dubuque, Iowa
20-Year Net ROI: ($11,000)
4-Year Cost: $160,000
Typical Years to Graduate: 4
Average Loan Amount: $35,300
18. (tie). Morehead State University (out of state)
Location: Morehead, Kentucky
20-Year Net ROI: ($14,000)
4-Year Cost: $119,000
Typical Years to Graduate: 5
Average Loan Amount: $24,200
Photo: This is the view of Fields Hall, Camden-Carroll Library and Little Bell Tower on the Morehead State University campus. (Wikipedia Commons)
17. (tie). University of North Carolina at Asheville (out of state)
Location: Asheville, North Carolina
20-Year Net ROI: ($14,000)
4-Year Cost: $129,000
Typical Years to Graduate: 5
Average Loan Amount: $23,400
16. Grambling State University (in state)
Location: Grambling, Louisiana
20-Year Net ROI: ($17,000)
4-Year Cost: $88,900
Typical Years to Graduate: 5
Average Loan Amount: $30,300
Photo: The "Tiger" at the entrance to Grambling State University. (Billy Hathorn/Wikipedia Commons)
15. College of New Rochelle
Location: New Rochelle, New York
20-Year Net ROI: ($20,000)
4-Year Cost: $187,000
Typical Years to Graduate: 5
Average Loan Amount: $23,700
14. Mercyhurst College
Location: Erie, Pennsylvania
20-Year Net ROI: ($23,000)
4-Year Cost: $176,000
Typical Years to Graduate: 4
Average Loan Amount: $31,500
Photo: U.S. Air Force Academy sophomore defenseman Brandon Johnson jostles for the puck with Mercyhurst University left wing Nick Vandenbeld. (U.S. Air Force/Wikipedia Commons)
13. Black Hills State University (in state)
Location: Spearfish, South Dakota
20-Year Net ROI: ($24,000)
4-Year Cost: $72,400
Typical Years to Graduate: 5
Average Loan Amount: $25,400
12. Jackson State University
Location: Jackson, Mississippi
20-Year Net ROI: ($24,000)
4-Year Cost: $116,000
Typical Years to Graduate: 5
Average Loan Amount: $33,300
Photo: First lady Michelle Obama speaks during graduation ceremonies for Jackson State University's Class of 2016 at the Mississippi Veterans Memorial Stadium in Jackson, Miss., Saturday, April 23, 2016. (AP Photo/Rogelio V. Solis)
11. School of the Art Institute of Chicago
Location: Chicago
20-Year Net ROI: ($25,000)
4-Year Cost: $230,000
Typical Years to Graduate: 4
Average Loan Amount: $39,600
8. University of North Carolina at Pembroke (out of state)
Location: Pembroke
20-Year Net ROI: ($25,000)
4-Year Cost: $105,000
Typical Years to Graduate: 5
Average Loan Amount: $20,900
Photo: The University of North Carolina at Pembroke was founded to serve American Indians. It is the only college in the nation exempted from a ban on using Indian nicknames and mascots in postseason tournaments. UNCP uses the nickname "Braves" and includes the bust of an American Indian with a hawk in its logo. (AP Photo/Steve Humbert)
7. Saint Francis University
Location: Loretto, Pennsylvania
20-Year Net ROI: ($26,000)
4-Year Cost: $177,000
Typical Years to Graduate: 5
Average Loan Amount: $41,700
6. Goshen College
Location: Goshen, Ind.
20-Year Net ROI: ($29,000)
4-Year Cost: $159,000
Typical Years to Graduate: 4
Average Loan Amount: $36,500
Photo: More than 100 fans filled the stands for a baseball game between Goshen College and Sienna Heights in Goshen, Indiana on Tues., March 23, 2010. The national anthem was played before this game for the first time at the Mennonite-affiliated school. (AP Photo/Michael Conroy)
5. SUNY — College at Potsdam (in state)
Location: Potsdam, New York
20-Year Net ROI: ($34,000)
4-Year Cost: $82,700
Typical Years to Graduate: 4
Average Loan Amount: $27,000
4. University of South Carolina – Aiken Campus (in state)
Location: Aiken
20-Year Net ROI: ($40,000)
4-Year Cost: $83,800
Typical Years to Graduate: 5
Average Loan Amount: $23,000
Photo: In this March 2013 photo, running back Marcus Lattimore, center, speaks with the media during the University of South Carolina's NFL football pro day. (AP Photo/Rainier Ehrhardt, File)
3. Fayetteville State University (in state)
Location: Fayetteville, North Carolina
20-Year Net ROI: ($58,000)
4-Year Cost: $54,500
Typical Years to Graduate: 5
Average Loan Amount: $22,600
2. University of Montevallo (in state)
Location: Montevallo, Alabama
20-Year Net ROI: ($77,000)iv
4-Year Cost: $86,100
Typical Years to Graduate: 5
Average Loan Amount: $24,000
Photo: Built in the Federal style in 1823, the King House is the oldest building on the University of Montevallo campus, and was added to the National Register of Historic Places on January 14, 1972. (Rivers Langley/Wikipedia Commons)
1. Shaw University
Location: Raleigh, North Carolina
20-Year Net ROI: ($110,000)
4-Year Cost: $111,000
Typical Years to Graduate: 5
Average Loan Amount: $3,500
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