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Public colleges with the best return on investment

Stacker looked at the public colleges with the best return on investment, using Georgetown University's Center on Education and the Workforce study.    

Posted
Madison Troyer, Data Work By Emma Rubin

From behind, a group of graduates in their caps and gown walking toward a building.

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College students and graduates, and their families, owe a combined $1.6 trillion in student loans, according to federal data. About 17% of U.S. adults have outstanding student loan debt, averaging more than $35,000 per person. That level of debt has caused people to wonder if college is a sound investment.

Researchers at Georgetown University's Center on Education and the Workforce say it is. A 2019 analysis found that workers with bachelor's degrees make 80% more than workers with only a high school diploma. That study and a 2022 follow-up study found that some colleges have greater return on investment—the money spent on tuition and other expenses—than others.

To help future students make a more informed decision, the research team behind the studies ranked 4,500 colleges, determining the best financial options. To do this, the team used data collected by College Scorecard.

The study ranks schools by the net present value, a measure of the projected earnings of an investment against the anticipated costs, both in today's dollars and taking into account discounting interest rates, to determine whether an investment is worth making. Colleges were then ranked by the highest 40-year return on investment, with ties broken by the 10-year return.

Stacker looked at the public colleges with the best return on investment, highlighting information like graduation rates, net price, and median debt. This story only considers four-year, public colleges that predominantly grant bachelor's degrees.

Here's a breakdown of some key factors in the researchers' calculations.

- 40-year NPV: What the sum of all earnings 40 years after enrollment is worth today, adjusted for the school's education cost.

- Median earnings after 10 years: The typical annual salary 10 years after enrollment.

- Net price: The average price students pay per year after scholarships and financial aid, including books and living expenses.

- Graduation rate: The share of students who complete bachelor's degrees within six years.

- Median debt: The typical amount of student debt graduates from this school hold.

#50. Rutgers University-New Brunswick

A large brick building with a tower on top.

Benjamin Clapp // Shutterstock

- 40-year NPV: $1,389,000
- Median earnings after 10 years: $65,661
- Net-price: $21,654
- Graduation rate: 82%
- Median debt: $19,000

#49. New Mexico Institute of Mining and Technology

Lightning striking a hilltop bristling with towers for lightning.

Wild Horizon // Getty Images

- 40-year NPV: $1,393,000
- Median earnings after 10 years: $64,650
- Net-price: $14,595
- Graduation rate: 53%
- Median debt: $11,870

#48. University of Wisconsin-Madison

Stately buildings on a college campus covered in snow.

Canva

- 40-year NPV: $1,400,000
- Median earnings after 10 years: $65,213
- Net-price: $17,708
- Graduation rate: 87%
- Median debt: $18,250

#47. George Mason University

A close up of large, concrete building with many windows and a sign that says George Mason University.

Daniel J. Macy // Shutterstock

- 40-year NPV: $1,402,000
- Median earnings after 10 years: $66,148
- Net-price: $21,048
- Graduation rate: 70%
- Median debt: $16,000

#46. University of Rhode Island

A gray stone building with a white tower top.

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- 40-year NPV: $1,403,000
- Median earnings after 10 years: $66,484
- Net-price: $20,607
- Graduation rate: 68%
- Median debt: $17,750

#45. Purdue University-Main Campus

A red brick building with large windows and a tower.

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- 40-year NPV: $1,415,000
- Median earnings after 10 years: $65,257
- Net-price: $13,986
- Graduation rate: 81%
- Median debt: $15,162

#44. Texas A & M University-College Station

Stately buildings on a college campus with an American and Texas flag flying on a pole.

Canva

- 40-year NPV: $1,418,000
- Median earnings after 10 years: $66,566
- Net-price: $19,057
- Graduation rate: 82%
- Median debt: $15,404

#43. Rutgers University-Newark

A large brick modern building with a sign that says Rutgers in red and audible in white.

Andriy Blokhin // Shutterstock

- 40-year NPV: $1,425,000
- Median earnings after 10 years: $65,661
- Net-price: $14,109
- Graduation rate: 67%
- Median debt: $19,000

#42. University of Florida-Online

Two students working on laptops.

Canva

- 40-year NPV: $1,425,000
- Median earnings after 10 years: $64,463
- Net-price: $7,492
- Graduation rate: Not available
- Median debt: $14,986

#41. University of California-Santa Barbara

A brown stone gate with University of California Santa Barbara lettering on the right side of the gate.

Claudine Van Massenhove // Shutterstock

- 40-year NPV: $1,427,000
- Median earnings after 10 years: $66,491
- Net-price: $15,884
- Graduation rate: 83%
- Median debt: $12,500

#40. Rutgers University-Camden

A row of red brick and white buildings.

Library of Congress

- 40-year NPV: $1,428,000
- Median earnings after 10 years: $65,661
- Net-price: $13,660
- Graduation rate: 61%
- Median debt: $19,000

#39. University of Florida

A red brick sign that says University of Florida, with red flowers in front of it.

Kyle S Lo // Shutterstock

- 40-year NPV: $1,431,000
- Median earnings after 10 years: $64,463
- Net-price: $6,302
- Graduation rate: 89%
- Median debt: $14,986

#38. Stony Brook University

A modern red brick and white building.

Steve Cukrov // Shutterstock

- 40-year NPV: $1,436,000
- Median earnings after 10 years: $66,678
- Net-price: $15,160
- Graduation rate: 75%
- Median debt: $15,000

#37. Citadel Military College of South Carolina

A white building with the tower in the center.

Eli Wilson // Shutterstock

- 40-year NPV: $1,443,000
- Median earnings after 10 years: $67,770
- Net-price: $18,548
- Graduation rate: 73%
- Median debt: $18,500

#36. University of Delaware

Red brick building with tall white columns.

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- 40-year NPV: $1,447,000
- Median earnings after 10 years: $67,298
- Net-price: $17,220
- Graduation rate: 81%
- Median debt: $21,000

#35. The University of Texas at Austin

Aerial view of university campus with red roof buildings and tall tower at sunset.

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- 40-year NPV: $1,449,000
- Median earnings after 10 years: $67,839
- Net-price: $18,023
- Graduation rate: 84%
- Median debt: $18,500

#34. Oregon Institute of Technology

A modern brick four story building with large windows.

Tada Images // Shutterstock

- 40-year NPV: $1,457,000
- Median earnings after 10 years: $67,184
- Net-price: $16,210
- Graduation rate: 49%
- Median debt: $16,475

#33. San José State University

A Spanish Colonial Revival style building covered in ivy and surrounded by palm trees and other greenery.

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- 40-year NPV: $1,463,000
- Median earnings after 10 years: $67,365
- Net-price: $14,928
- Graduation rate: 64%
- Median debt: $12,000

#32. University of Washington-Seattle Campus

A gray stone building surrounded by mature trees.

f11photo // Shutterstock

- 40-year NPV: $1,500,000
- Median earnings after 10 years: $68,925
- Net-price: $13,297
- Graduation rate: 84%
- Median debt: $12,545

#30. CUNY Bernard M Baruch College

A modern glass and brick building with signs for Baruch College.

Education Images // Getty Images

- 40-year NPV: $1,509,000
- Median earnings after 10 years: $67,136
- Net-price: $3,562
- Graduation rate: 69%
- Median debt: $9,500

#31. University of California-Davis

A brick gate entrance to U.C. Davis with a brick building in the background.

Chris Allan // Getty Images

- 40-year NPV: $1,509,000
- Median earnings after 10 years: $69,766
- Net-price: $14,669
- Graduation rate: 87%
- Median debt: $11,500

#29. University of Washington-Bothell Campus

A brown brick building with the words Makerspace and Discovery Hall on it.

Colleen Michaels // Shutterstock

- 40-year NPV: $1,511,000
- Median earnings after 10 years: $68,925
- Net-price: $11,060
- Graduation rate: 66%
- Median debt: $12,545

#28. University of Washington-Tacoma Campus

Warehouse style brown and glass building with a glass cat walk over a road from one building to another.

Colleen Michaels // Shutterstock

- 40-year NPV: $1,512,000
- Median earnings after 10 years: $68,925
- Net-price: $10,817
- Graduation rate: 57%
- Median debt: $12,545

#27. South Dakota School of Mines and Technology

A large brick building in the distance with a snowy campus with large bare trees in the foreground.

Library of Congress

- 40-year NPV: $1,521,000
- Median earnings after 10 years: $71,287
- Net-price: $19,815
- Graduation rate: 49%
- Median debt: $20,500

#26. University of Connecticut

A brick sign with UCONN university lettering.

Ken Wolter // Shutterstock

- 40-year NPV: $1,527,000
- Median earnings after 10 years: $72,460
- Net-price: $22,012
- Graduation rate: 84%
- Median debt: $19,292

#25. University of Maryland-College Park

A red brick building with a brick lane leading to it.

Jon Bilous // Shutterstock

- 40-year NPV: $1,541,000
- Median earnings after 10 years: $71,837
- Net-price: $19,045
- Graduation rate: 87%
- Median debt: $17,369

#24. Virginia Military Institute

A large stone building with two flags flying and a statue of a person in front of it.

The Old Major // Shutterstock

- 40-year NPV: $1,544,000
- Median earnings after 10 years: $71,910
- Net-price: $17,804
- Graduation rate: 79%
- Median debt: $17,674

#23. University of Illinois Urbana-Champaign

A red brick building with white tower with grass and trees in the foreground.

Ken Wolter // Shutterstock

- 40-year NPV: $1,550,000
- Median earnings after 10 years: $71,539
- Net-price: $15,880
- Graduation rate: 85%
- Median debt: $17,000

#22. University of California-Irvine

A tall white modern building with many windows and the words Aldrich Hall.

Steve Cukrov // Shutterstock

- 40-year NPV: $1,551,000
- Median earnings after 10 years: $71,961
- Net-price: $14,783
- Graduation rate: 84%
- Median debt: $14,390

#21. Binghamton University

A modern white and brown building with a sign that says Binghamton University.

Steve Cwik // Shutterstock

- 40-year NPV: $1,557,000
- Median earnings after 10 years: $72,980
- Net-price: $19,353
- Graduation rate: 82%
- Median debt: $15,000

#20. Virginia Polytechnic Institute and State University

A large gray stone building with a tower in the middle and two flags flying in front of it.

Rui Serra Maia // Shutterstock

- 40-year NPV: $1,559,000
- Median earnings after 10 years: $73,159
- Net-price: $21,198
- Graduation rate: 85%
- Median debt: $19,500

#19. Maine Maritime Academy

Waterfront with a portside view of a tall ship.

Ken Schulze // Shutterstock

- 40-year NPV: $1,571,000
- Median earnings after 10 years: $72,837
- Net-price: $23,239
- Graduation rate: 73%
- Median debt: $24,250

#18. University of Connecticut-Stamford

Modern brick building with lots of windows and sign saying UCONN on top and a parking lot in the foreground.

GREG PATTON // Shutterstock

- 40-year NPV: $1,576,000
- Median earnings after 10 years: $72,460
- Net-price: $11,982
- Graduation rate: 66%
- Median debt: $19,292

#17. University of Connecticut-Avery Point

A large historic stone building.

Faina Gurevich // Shutterstock

- 40-year NPV: $1,585,000
- Median earnings after 10 years: $72,460
- Net-price: $9,981
- Graduation rate: 59%
- Median debt: $19,292

#16. University of Connecticut-Waterbury Campus

A high-up view of a town with red brick buildings and thick tree-covered land in the background.

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- 40-year NPV: $1,594,000
- Median earnings after 10 years: $72,460
- Net-price: $8,046
- Graduation rate: 64%
- Median debt: $19,292

#15. Michigan Technological University

A brick and stone sign saying Michigan Technological University.

ehrlif // Shutterstock

- 40-year NPV: $1,595,000
- Median earnings after 10 years: $73,541
- Net-price: $16,463
- Graduation rate: 69%
- Median debt: $20,164

#14. University of California-Los Angeles

A red brick building with two towers and dramatic archways.

Pandora Pictures // Shutterstock

- 40-year NPV: $1,597,000
- Median earnings after 10 years: $73,744
- Net-price: $14,279
- Graduation rate: 91%
- Median debt: $14,035

#13. University of California-San Diego

A modern gray cement and glass building with a courtyard in front of it filled with plants.

Nagel Photography // Shutterstock

- 40-year NPV: $1,622,000
- Median earnings after 10 years: $74,771
- Net-price: $14,232
- Graduation rate: 87%
- Median debt: $14,988

#12. University of Michigan-Ann Arbor

An aerial view of campus focused on a large gray building with columns and many windows.

Agnieszka Gaul // Shutterstock

- 40-year NPV: $1,646,000
- Median earnings after 10 years: $75,842
- Net-price: $15,336
- Graduation rate: 93%
- Median debt: $16,633

#11. University of Virginia-Main Campus

A reflective pond in front a white and red brick building.

Canva

- 40-year NPV: $1,649,000
- Median earnings after 10 years: $77,048
- Net-price: $20,397
- Graduation rate: 94%
- Median debt: $15,711

#10. New Jersey Institute of Technology

A close up of two pairs of hands typing on laptops.

Canva

- 40-year NPV: $1,717,000
- Median earnings after 10 years: $80,043
- Net-price: $19,706
- Graduation rate: 66%
- Median debt: $17,500

#9. California Polytechnic State University-San Luis Obispo

Name and banners on street at entrance to university campus under a blue sky.

Claudine Van Massenhove // Shutterstock

- 40-year NPV: $1,730,000
- Median earnings after 10 years: $80,643
- Net-price: $21,595
- Graduation rate: 82%
- Median debt: $16,500

#8. Missouri University of Science and Technology

Three people wearing lab coats working in a lab.

Canva

- 40-year NPV: $1,749,000
- Median earnings after 10 years: $80,289
- Net-price: $14,262
- Graduation rate: 64%
- Median debt: $18,500

#7. University of California-Berkeley

A large, red brick building with many windows.

Sheila Fitzgerald // Shutterstock

- 40-year NPV: $1,752,000
- Median earnings after 10 years: $80,364
- Net-price: $15,329
- Graduation rate: 92%
- Median debt: $12,390

#6. SUNY Maritime College

An aerial view of a large vessel with cargo containers., with many more like it in the background.

Canva

- 40-year NPV: $1,832,000
- Median earnings after 10 years: $84,443
- Net-price: $20,616
- Graduation rate: 71%
- Median debt: $18,250

#5. United States Merchant Marine Academy

A sunset with the chapel and bell in the foreground.

fisheradam13 // Shutterstock

- 40-year NPV: $1,880,000
- Median earnings after 10 years: $83,209
- Net-price: $6,433
- Graduation rate: 82%
- Median debt: $7,000

#4. Colorado School of Mines

A gray building with a tall tower a large piece of a stone with a placard in front of it.

Framalicious // Shutterstock

- 40-year NPV: $1,922,000
- Median earnings after 10 years: $90,060
- Net-price: $26,750
- Graduation rate: 82%
- Median debt: $19,500

#3. Georgia Institute of Technology-Main Campus

A red brick building with a tall tower in the center and concrete stairs leading to it.

Rob Hainer // Shutterstock

- 40-year NPV: $1,947,000
- Median earnings after 10 years: $88,196
- Net-price: $14,739
- Graduation rate: 89%
- Median debt: $20,250

#2. Massachusetts Maritime Academy

Buildings and ships anchored by the river.

Yingna Cai // Shutterstock

- 40-year NPV: $1,971,000
- Median earnings after 10 years: $91,668
- Net-price: $20,485
- Graduation rate: 75%
- Median debt: $23,099

#1. California State University Maritime Academy

Black, red and white large vessel anchored in the port.

MediaNews Group/Bay Area News via Getty Images // Getty Images

- 40-year NPV: $1,977,000
- Median earnings after 10 years: $91,461
- Net-price: $20,597
- Graduation rate: 64%
- Median debt: $19,500

Additional writing by Jeff Inglis. Story editing by Ashleigh Graf. Copy editing by Kristen Wegrzyn. Photo selection by Ania Antecka.

 

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