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 PayScale.com 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 PayScale.com here.

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