Top Return on Investment Colleges in 2023

Students searching for their ideal college often consider many criteria, including location, campus life, and academic options.  But a key criterion that students should take into account is the college’s ROI – return on investment – which identifies the long-term financial value of a degree.

 

With annual tuition and fees at some colleges exceeding $75,000, it’s wise for students to consider what the likely payoff will be in terms of their future earnings.  They can turn to research conducted by The Georgetown University Center on Education and the Workforce, which identified the ROI at 4,500 colleges throughout the United States.   

 

A degree from the sixteen non-profit or public colleges/universities topping the list all had a 40-year ROI exceeding $2 million. These schools, starting with the highest ROI, are University of Health Sciences & Pharmacy in St. Louis (MO), Albany College of Pharmacy & Health Sciences (NY), MCPHS University (MA), California Institute of Technology, Massachusetts Institute of Technology, Harvey Mudd College (CA), Bentley University (MA), Babson College (MA), University of Pennsylvania, Stanford University (CA), Princeton University (NJ), Carnegie Mellon University (PA), University of the Sciences (PA), Stevens Institute of Technology (NJ), Georgetown University (DC), and Lehigh University (PA).

The 40-year ROI for New Jersey public and private non-profit institutions exceeded $2 million at both Princeton University and Stevens Institute of Technology, and 1.7 million at New Jersey Institute of Technology.  Other New Jersey schools with a 40-year ROI exceeding $1.2 million, in decreasing order, are Rutgers University - Camden, Rutgers University – Newark, Seton Hall University, Rutgers University – New Brunswick, The College of New Jersey, Ramapo College, and Monmouth University. 

 

It's wise for students to carefully consider their likely future earnings when taking on college debt.  According to federal student loan data, 1.18 million New Jersey residents collectively hold $44.21 billion in student loans, the 12^th highest in the nation. By studying available data, such as that provided by The Georgetown University Center on Education and the Workforce, college bound students can aim to make financially sound decisions.

Susan Alaimo is the founder & director of Collegebound Review, offering PSAT/SAT^® preparation & private college advising by Ivy League educated instructors. Visit CollegeboundReview.com or call 908-369-5362