It would be wise to look for the best return on investment colleges after deciding to study abroad. As we all know, studying abroad has a high cost in every aspect, such as the preliminary language test, tuition fees and living expenses. Under this condition, entering those best return on investment colleges will save us a substantial amount of money. So today, the blogger will list the 10 best return on investment colleges in the US using the “Return on Investment (ROI)” ratio on the Festweb to improve your chances of earning back those fees after graduation.
P.S. ROI=income (students’ potential income)/investment cost (tuition fees, etc.)
What Is a Good ROI for College?
Calculating your return on investment in higher education is a complex but valuable process. This involves multiple factors, including the cost of schooling, expected future income, value of time, etc. It would be wise to complete the calculation using the following formula: ROI=income/investment cost. In this formula, “income” refers to the total additional income increased by receiving higher education, and “investment cost” includes direct costs such as tuition fees, book fees, accommodation fees, and living expenses.
In other words, ROI for colleges encapsulates the financial return on the investment made towards one’s education, considering the cost of attendance and the earnings one can expect upon entering the workforce. Financially speaking, a good ROI would be one where the increase in earning potential significantly exceeds the total cost of attending college. This includes tuition, fees, books, and the opportunity cost of time spent studying abroad.
College ROI Ranking Criteria
Evaluating whether you choose the best return on investment colleges requires a holistic approach, generally including the 4 components below.
- Tuition costs and associated fees
Colleges with lower tuition fees or extensive financial aid options such as grants and scholarships will offer a higher ROI. In this way, a degree is more accessible and financially viable for a wider range of students.
- Graduate potential earnings
This involves analysing the median salaries of alumni, typically a few years post-graduation, to gauge the economic benefits of earning a degree from that institution. Higher earnings potentially boost the ROI for colleges, affirming the value of the investment in education.
- Career opportunities
The factor serves as a long-term indicator of career progression and financial stability instead of a metric of immediate post-college success. Therefore, colleges that facilitate high-quality job opportunities can be regarded as among the best return on investment colleges, as graduates could earn back their tuition fees as quickly as possible.
- Graduation rates
The likelihood of graduating on time affects ROI. Higher graduation rates suggest that students are successfully completing their courses and moving towards their career goals within the expected timeframe, thus beginning to realise the return on their educational investment sooner.
By carefully considering these criteria, students are easier to make informed decisions that align with their educational and financial goals, paving the way for a successful and fulfilling career. In order to save you time in searching for information about those top ROI colleges, we have listed 10 colleges with the best return on investment below.
Best ROI Colleges
Top 10 California Maritime Academy
- Location: Vallejo, CA
- Number of undergraduate students: 880
- Acceptance rate: 82%
- Graduation rate: 59%
- Annual tuition: Out-of-State: $18,996; In-State: $7,116
- ROI: $1,098,000
As the only maritime college on the West Coast of the United States, CMA, one of colleges with best ROI, offers seven undergraduate programs, such as Marine Transportation, Marine Engineering Technology, and Business Administration.
CMA is not a sizable university, but the students usually have more job opportunities and more high-paying jobs after graduation since the majors it offers are basically engineering and business, and the maritime field is currently popular in the United States. Therefore, they are likely to earn more. In addition, CMA has financial donation projects such as the Yacht Donation Program. The funds raised will be used to distribute grants and scholarships. In this way, the learning and living costs are also significantly reduced.
Top 9 California Institute of Technology
- Location: Pasadena, CA
- Number of undergraduate students: 982
- Acceptance rate: 3%
- Graduation rate: 81%
- Annual tuition: $63,255
- ROI: $1,104,000
California Institute of Technology, one of the 3 giants of American polytechnics, is one of the highest return on investment colleges. It has countless strong majors, such as CS, engineering, mathematics, and statistics. The teacher-student ratio is 3:1, and the graduation rate exceeds 80%. At the same time, Caltech also maintains close cooperative relationships with NASA, various medical and scientific research institutes, etc. Therefore, there is no doubt that graduates must have a bright future because of the numerous job opportunities. In addition, the career counselling room in the school provides students with various information and job fairs at all times, which is warm, practical and convenient. It also has many donations and investment funds to distribute grants and scholarships, which will likely decrease the cost of living and learning.
Top 8 United States Air Force Academy
- Location: USAF Academy, CO
- Number of undergraduate students: 4085
- Acceptance rate: 13%
- Graduation rate: 87%
- Annual tuition: $0
- ROI: $1,121,000
As a university favored by US military, it is also one of the colleges with the best return on investment. So far, it has trained countless outstanding talents for the U.S. Air Force. In addition to serving in the Air Force, USAFA offers various engineering majors, such as aerospace engineering, civil engineering, etc., and some liberal arts research subjects, such as physics and politics.
USAFA is the Air Force Reserve School, meaning students here do not need to worry about employment after graduation. The school is also funded by the U.S. government to pay tuition and living expenses for students who have promised to serve in the military for a certain period in the future. Therefore, USAFA can be regarded as a representative of “low cost, high return”.
Top 7 Colorado School of Mines
- Location: Golden, CO
- Number of undergraduate students: 5733
- Acceptance rate: 58%
- Graduation rate: 66%
- Annual tuition: Out-of-State: $42,120; In-State: $20,040
- ROI: $1,161,000
Colorado School of Mines has many popular majors including Mechanical Engineering, CS and other engineering majors. In this way, the employment rate of graduates is as high as 95% only two years after graduation. More than 1,300 companies recruit students yearly. The median annual salary for recent graduates is also high—$84,900. At the same time, Colorado School of Mines also offers many scholarship options to help students relieve the pressure of tuition. After all, more than $950,000 is donated to this school. That’s why Colorado School of Mines is one of the highest ROI colleges.
Top 6 SUNY Maritime College
- Location: Throggs Neck, NY
- Number of undergraduate students: 1295
- Acceptance rate: 80%
- Graduation rate: 74%
- Annual tuition: Out-of-State: $18,480; In-State: $8,570
- ROI: $1,190,000
SUNY Maritime College, the second maritime college on this list, is a public school in New York State. SUNY Maritime College offers various majors related to marine research like CMA, such as marine science, naval architecture, and marine engineering. The school also provides other disciplines, such as business, social sciences, and other majors, to diversify students’ choices. At the same time, the school’s employment support services provide students with information on various job searches and internships. It holds many job fairs for students to participate in, providing many employment opportunities. In addition, the college offers scholarships, which will reduce your living costs.
Top 5 United States Naval Academy
- Location: Annapolis, MD
- Number of undergraduate students: 4450
- Acceptance rate: 11%
- Graduation rate: 88%
- Annual tuition: $0
- ROI: $1,216,000
The U.S. Naval Academy is one of the best ROI colleges among U.S. schools, entirely worthy of “investment”. Some popular majors for the students include shipbuilding, marine engineering, oceanography, and mathematics. The students who majored in those will have many job opportunities after graduation.USNA is a federal service academy and contributes to fully funding the tuition fees of students who will join the federal service after graduation. That’s the reason why it is one of the highest ROI colleges in the US. In addition, USNA could provide scholarships of up to $75,000, dramatically reducing students’ tuition burden.
Top 4 United States Military Academy
- Location: West Point, NY
- Number of undergraduate students: 4393
- Acceptance rate: 12%
- Graduation rate: 85%
- Annual tuition: $0
- ROI: $1,267,000
The United States Military Academy is the oldest military school and one of the colleges with the best return on investment, which continuously supplies talents to the army. Graduates will receive a degree in science and be appointed “Army Second Lieutenant.” In other words, the graduates don’t need to worry about finding a job because graduation equals “directed employment”. Due to the support of federal services, students at this college can also receive corresponding tuition assistance, etc. This is one of the reasons why it is one of the colleges with the biggest return on investment.
Top 3 United States Merchant Marine Academy
- Location: Kings Point, NY
- Number of undergraduate students: 931
- Acceptance rate: 29%
- Graduation rate: 74%
- Annual tuition: $2,016
- ROI: $1,312,000
This is the third federal service college to appear on this list. Federal services are indeed robust services that help students save money and find high-paying jobs. The U.S. Merchant Marine Academy trains licensed Merchant Marine Officers and Commissioned Officers to serve the national security, maritime transportation, and economic needs of the United States.
The U.S. Merchant Marine Academy mainly provides undergraduate courses in marine engineering, maritime transportation, maritime logistics and safety, etc., for students to learn various knowledge related to marine transportation. At the same time, the college’s tuition and living expenses are also meagre, so students can spend their college years at a meagre cost while reaping higher returns.
Top 2 Massachusetts Institute of Technology (MIT)
- Location: Cambridge, MA
- Number of undergraduate students: 4657
- Acceptance rate: 4%
- Graduation rate: 89%
- Annual tuition: $60,156
- ROI: $1,338,000
The famous MIT has long been the dream school of numerous students and parents. The letters MIT alone are enough to be the recruitment standard for many companies, which naturally reflects that it must be one of the highest ROI colleges. MIT attaches great importance to basic sciences, engineering, and other research and cooperates closely with many research institutes. Therefore, there is a lot of financial support related to scientific research and many corresponding scholarship opportunities.
According to statistics, MIT’s teacher-student ratio is 3:1, and 71% of MIT’s classes have no more than 20 students, which means the relationship between students and professors is very close. Students will also have a good classroom experience. In addition, although MIT’s tuition is relatively high and the cost of living in Boston is not cheap, the average annual salary for MIT recent graduates is $102,988. Earning the tuition back is effortless!
Top 1 Harvey Mudd College
- Location: Claremont, CA
- Number of undergraduate students: 906
- Acceptance rate: 13%
- Graduation rate: 88%
- Annual tuition: $66,255
- ROI: $1,383,000
Harvey Mudd College is called “the best university in the United States” by many students. It is one of the best engineering schools in the United States. It has many popular majors, such as CS, engineering, mathematics, and statistics. Job hunting will be relatively easy in the future. At the same time, Harvey Mudd College is a small but sophisticated liberal arts college with a high-quality education and a solid alumni circle, which shows that it will provide firm support to students.
It has a graduation and retention rate of about 90%. Therefore, it is highly recommended that students who are interested in the majors offered by this school choose it as one of the applications.
Why College ROI Is Important?
ROI is increasingly pivotal in higher education as students and their families weigh the substantial financial commitment against potential long-term benefits. Understanding a college’s return on investment (ROI) cannot be overlooked. It’s a critical factor that can shape futures, influence career trajectories, and determine the financial freedom one can achieve post-graduation. Therefore, before making the decision on where to apply, it would be wise to refer to the college ROI rankings.
Student Accommodation Recommendation Near Highest ROI Colleges
For those interested in these colleges mentioned above and successful in applying to them, accommodation is the next important consideration. As we all know, the dorms in US colleges cost much, probably even more than the house of the same type out of campus. Therefore, living off campus will further reduce our living costs, especially when renting a highly cost-effective apartment, such as California Institute of Technology housing, Colorado School of Mines housing, and Massachusetts Institute of Technology housing. These low-priced, well-furnished apartments offer more independent spaces and well-appointed facilities than dorm rooms.
- California Institute of Technology housing: Located within walking distance of the university, the apartments offer convenient living and are surrounded by a dozen restaurants and cafes.
- Colorado School of Mines housing: The apartments are about a 20-minute drive from the college. They have appointed everything you need to make you feel comfortable in the new home.
- Massachusetts Institute of Technology housing: The apartments are also situated within walking distance of the university. They have beautiful environment, user-friendly design, convenient transportation and good security.
Conclusion
The 10 best return on investment colleges in the US have been introduced above. They offer more than just a degree but also provide a gateway to job opportunities, a nurturing environment for innovation, and a solid foundation for a successful future in a high cost-effective way. For those who prefer to consider the long-term value of their college education, these ten colleges must be the top choices.
FAQ
What are the best ROI degrees?
The best ROI degrees are listed below.
- Computer Science
- Medicine
- Engineering
- Business and Economics
- Law
- Nursing
- Renewable energy
Among them, Engineering and Computer Science majors are the best ROI degrees due to the practicality and modernity of them, according to the statistics from the American Educational Research Journal.
What job has the best ROI?
The best ROI job is software engineering. This field has a relatively low barrier to entry in terms of required education (often a bachelor’s degree in computer science or a related field) with a high earning potential. Software engineers play a pivotal role in designing, developing, and maintaining the software that powers our digital world, which is a practical and popular job.
What degree has the lowest rate of return?
The lowest ROI degree may be in education, humanities and art majors. For male college graduates, the rate of return is around 5%, while for female graduates it’s 8–9%. Here is a list of College majors that pay the least after graduation for reference.
- Liberal Arts $38,000.
- Performing Arts $38,000.
- Theology + Religion $38,000.
- Leisure + Hospitality $39,700.
- General Social Sciences $40,000.
- History $40,000.
- Miscellaneous Biological Science $40,000.
- Fine Arts $40,000.
What degree is most in demand in the future?
Data Science is the most in demand in the future. The demand for Data Science professionals is expected to surge in the coming years. According to reports from the World Economic Forum and other reputable sources, the era of Big Data and the Internet of Things (IoT) is only going to expand. This expansion demands a corresponding increase in skilled individuals who can analyse, interpret, and utilise this data effectively.
