College tuition has more than doubled since the 1980s. Student loan debt is over $1 trillion. And, according to the Federal Reserve Bank of New York, about 44 percent of recent college graduates are underemployed, and working in jobs that don’t require their degree.
Out-of-control student loans and a competitive job market are pushing students, parents and policymakers to try to understand the value of a college degree. One calculation to determine this value is ROI, or return on investment.
Payscale puts out a yearly report that calculates ROI for colleges across the U.S. Payscale calculates ROI from the difference between an 20-year pay for a college grad and a 24-year pay for a high school grad, minus the cost for the degree.
These are the top seven schools for return-on-investment (ROI):
1. United States Merchant Marine Academy, with an ROI of $1,094,000
2. United States Military Academy, with an ROI of $1,041,000
3. Massachusetts Institute of Technology, ROI of $1,015,000
4. United States Naval Academy, ROI of $1,004,000
5. Suny Maritime College (in-state), ROI of $1,003,000
6. Harvey Mudd College, ROI of $978,000
7. Suny Maritime College (out-of-state), ROI of $964,000