When it comes time to apply to colleges, many students and parents wonder if the investment will be worth it for them. Georgetown University released a report ranking 4,500 colleges and universities in the United States based on their return on investment (ROI).
Georgetown’s research looks at overall ROI from a variety of degree options, majors, schools, and even breaks down the decision into different time frames for ROI, 10 years later. graduation at 40 years after graduation. The website allows those who evaluate colleges and universities to search for those schools by name to see where they rank in different categories.
When shortening the time frame to 10 years after graduation, few of those with a high net present value (NPV) after age 40 appear on the 10-year list. Only two of the top 10 schools for this shorter VAN period are licensing educational institutions, and most are unrecognizable.
In the top 10 for NPV a decade after graduation are Putnam Westchester BOCES-Practical Nursing Program, Greater Lowell Technical School, Southern Westchester BOCES-Practical Nursing Program, Veeb Nassau County School of Practical Nursing, St. Louis College of Pharmacy , Albany College of Pharmacy and Health Sciences, Rockland County BOCES – Practical Nursing Program, Delaware County Technical School-Practical Nursing Program, Eastern Center for Arts and Technology and Ocean Corporation.
In the top 10 for ROI 40 years after graduation are four-year colleges and universities (eight are private). Graduating in six of the top 10 results in an NPV of $2 million or more after 40 years. Many colleges and universities in the top 10 for NPV after 40 years rank significantly lower when looking at NPV 10 years after graduation.
Those in the top 10 for NPV 40 years after graduation are Albany College of Pharmacy and Health Sciences, St. Louis College of Pharmacy, Massachusetts College of Pharmacy and Health Sciences, Massachusetts Institute of Technology (MIT), Stanford University, Maine Maritime Academy, Babson College, Harvard University, Georgetown University and US Merchant Marine Academy.
Research found that, overall, 60% of those who choose to attend college and earn a degree make more money than those who only have a high school diploma. He also found that private colleges and universities have, on average, a higher return on investment than public colleges 40 years after enrollment.
Forty years after enrollment, those attending four-year liberal arts institutions have a return on investment of $918,000, which is comparable to that of engineering and technology schools ($917,000) and colleges. of commerce and management ($913,000). The research also found that the return on investment for liberal arts colleges is $200,000 higher than the average return on investment for all colleges.
For those who earn two-year degrees or attend community colleges, the short-term benefit 10 years after graduation is higher than those who earn full bachelor’s degrees from public and private universities. Eventually, those who earn a bachelor’s degree outgrow two-year degrees or long-term community colleges.
© Copyright IBTimes 2022. All rights reserved.