Public colleges with the best return on investment

Canva 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 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 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 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 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 Canva – 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 Canva – 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 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 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 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 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 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 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 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 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 Canva – 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 Canva – 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 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 Canva – 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 Canva – 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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.