When it comes to return on investment (ROI) among Georgia colleges and universities, Southern Polytechnic State University ranked fourth, according to a special report by Bloomberg Businessweek.
Georgia Tech was the undisputed leader, with Emory University and the University of Georgia not too far behind, according to the report. But next in the magazine’s rankings was SPSU.
The magazine teamed with the Seattle-based compensation data company PayScale to measure the value of investing in a college degree. PayScale collected data on salaries reported by alumni earning bachelor’s degrees over a 30-year period and compared those earnings to high school graduates’ earnings. The dollar figure assigned to each of the 853 institutions examined – the ROI – represented the amount a college graduate could expect to earn over and above what a typical high school graduate earned during the same period, after deducting the cost of obtaining his or her degree.
According to the magazine’s ROI report, the net cost to graduate from SPSU for students paying in-state tuition was $50,610 and the 30-year net ROI for graduates – taking financial aid into account – was $557,500. For those in-state students who did not graduate from college, the ROI dropped to $156,100. For students paying out-of-state tuition, the net cost to graduate cited in the report was $100,900 and the ROI was $507,500 for graduates and $142,100 for non-college graduates.
The net cost for in-state students to graduate from the public institutions ranked in the report (including business, engineering, research and liberal arts schools) averaged $55,861 ($98,538 for out-of-state students) , and the average ROI for in-state college graduates was $122,987 ($100,155 for out-of-state graduates). The 30-year ROI for all higher education institutions studied averaged $152,114.
Nearly a third of the top 30 schools ranked by Businessweek were engineering schools, including the top three institutions for ROI: Harvey Mudd College (a private California institution that trains engineers, scientists and mathematicians), California Institute of Technology, and Massachusetts Institute of Technology.
To view the complete “Best College ROI” report and the list of all 853 institutions ranked, go to Businessweek.