Sunday, September 15, 2013

College rankings using ROI (return on investment for the non-college educated)!

This public service announcement (PSA) for high school seniors and their parents looks at the one metric that should actually matter when considering a college to attend!

With the skyrocketing cost of a college education coupled with the lead weight of student loans the reality is that a college or university being chosen by a high school senior should depend less on these metrics...

  • Big school versus small school,
  • Warm versus cold climate,
  • Division I sports versus Division II or III (aka rah rah school versus not)
  • Party school versus serious academic school,
  • My parents went there,
  • Etc.
...and more on this one:

For the money being paid on this education what can I reasonable expect my ROI from said money to be? For those who may be unfamiliar with the term ROI, here it is.

ROI or return on investment: A performance measure used to evaluate the efficiency of an investment or to compare the efficiency of a number of different investments. To calculate ROI, the benefit (return) of an investment is divided by the cost of the investment; the result is expressed as a percentage or a ratio. (Source)

The website provides such a list and is worth the read:

'Attending college is an investment of time and money. Make a decision that will pay off in the long term. PayScale has ranked more than 1,000 U.S. colleges and universities, including private, public and for-profit schools, to determine the potential financial return of attending each school given the cost of tuition and the payoff in median lifetime earnings associated with each school.'

At here.

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