Public colleges with the best return on investment
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Public colleges with the best return on investment
From behind, a group of graduates in their caps and gown walking toward a building.
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.
Benjamin Clapp // Shutterstock
#50. Rutgers University-New Brunswick
A large brick building with a tower on top.
– 40-year NPV: $1,389,000
– Median earnings after 10 years: $65,661
– Net-price: $21,654
– Graduation rate: 82%
– Median debt: $19,000
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#49. New Mexico Institute of Mining and Technology
Lightning striking a hilltop bristling with towers for lightning.
– 40-year NPV: $1,393,000
– Median earnings after 10 years: $64,650
– Net-price: $14,595
– Graduation rate: 53%
– Median debt: $11,870
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#48. University of Wisconsin-Madison
Stately buildings on a college campus covered in snow.
– 40-year NPV: $1,400,000
– Median earnings after 10 years: $65,213
– Net-price: $17,708
– Graduation rate: 87%
– Median debt: $18,250
Daniel J. Macy // Shutterstock
#47. George Mason University
A close up of large, concrete building with many windows and a sign that says George Mason University.
– 40-year NPV: $1,402,000
– Median earnings after 10 years: $66,148
– Net-price: $21,048
– Graduation rate: 70%
– Median debt: $16,000
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#46. University of Rhode Island
A gray stone building with a white tower top.
– 40-year NPV: $1,403,000
– Median earnings after 10 years: $66,484
– Net-price: $20,607
– Graduation rate: 68%
– Median debt: $17,750
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#45. Purdue University-Main Campus
A red brick building with large windows and a tower.
– 40-year NPV: $1,415,000
– Median earnings after 10 years: $65,257
– Net-price: $13,986
– Graduation rate: 81%
– Median debt: $15,162
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#44. Texas A & M University-College Station
Stately buildings on a college campus with an American and Texas flag flying on a pole.
– 40-year NPV: $1,418,000
– Median earnings after 10 years: $66,566
– Net-price: $19,057
– Graduation rate: 82%
– Median debt: $15,404
Andriy Blokhin // Shutterstock
#43. Rutgers University-Newark
A large brick modern building with a sign that says Rutgers in red and audible in white.
– 40-year NPV: $1,425,000
– Median earnings after 10 years: $65,661
– Net-price: $14,109
– Graduation rate: 67%
– Median debt: $19,000
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#42. University of Florida-Online
Two students working on laptops.
– 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
Claudine Van Massenhove // Shutterstock
#41. University of California-Santa Barbara
A brown stone gate with University of California Santa Barbara lettering on the right side of the gate.
– 40-year NPV: $1,427,000
– Median earnings after 10 years: $66,491
– Net-price: $15,884
– Graduation rate: 83%
– Median debt: $12,500
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#40. Rutgers University-Camden
A row of red brick and white buildings.
– 40-year NPV: $1,428,000
– Median earnings after 10 years: $65,661
– Net-price: $13,660
– Graduation rate: 61%
– Median debt: $19,000
Kyle S Lo // Shutterstock
#39. University of Florida
A red brick sign that says University of Florida, with red flowers in front of it.
– 40-year NPV: $1,431,000
– Median earnings after 10 years: $64,463
– Net-price: $6,302
– Graduation rate: 89%
– Median debt: $14,986
Steve Cukrov // Shutterstock
#38. Stony Brook University
A modern red brick and white building.
– 40-year NPV: $1,436,000
– Median earnings after 10 years: $66,678
– Net-price: $15,160
– Graduation rate: 75%
– Median debt: $15,000
Eli Wilson // Shutterstock
#37. Citadel Military College of South Carolina
A white building with the tower in the center.
– 40-year NPV: $1,443,000
– Median earnings after 10 years: $67,770
– Net-price: $18,548
– Graduation rate: 73%
– Median debt: $18,500
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#36. University of Delaware
Red brick building with tall white columns.
– 40-year NPV: $1,447,000
– Median earnings after 10 years: $67,298
– Net-price: $17,220
– Graduation rate: 81%
– Median debt: $21,000
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#35. The University of Texas at Austin
Aerial view of university campus with red roof buildings and tall tower at sunset.
– 40-year NPV: $1,449,000
– Median earnings after 10 years: $67,839
– Net-price: $18,023
– Graduation rate: 84%
– Median debt: $18,500
Tada Images // Shutterstock
#34. Oregon Institute of Technology
A modern brick four story building with large windows.
– 40-year NPV: $1,457,000
– Median earnings after 10 years: $67,184
– Net-price: $16,210
– Graduation rate: 49%
– Median debt: $16,475
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#33. San José State University
A Spanish Colonial Revival style building covered in ivy and surrounded by palm trees and other greenery.
– 40-year NPV: $1,463,000
– Median earnings after 10 years: $67,365
– Net-price: $14,928
– Graduation rate: 64%
– Median debt: $12,000
f11photo // Shutterstock
#32. University of Washington-Seattle Campus
A gray stone building surrounded by mature trees.
– 40-year NPV: $1,500,000
– Median earnings after 10 years: $68,925
– Net-price: $13,297
– Graduation rate: 84%
– Median debt: $12,545
Education Images // Getty Images
#30. CUNY Bernard M Baruch College
A modern glass and brick building with signs for Baruch College.
– 40-year NPV: $1,509,000
– Median earnings after 10 years: $67,136
– Net-price: $3,562
– Graduation rate: 69%
– Median debt: $9,500
Chris Allan // Getty Images
#31. University of California-Davis
A brick gate entrance to U.C. Davis with a brick building in the background.
– 40-year NPV: $1,509,000
– Median earnings after 10 years: $69,766
– Net-price: $14,669
– Graduation rate: 87%
– Median debt: $11,500
Colleen Michaels // Shutterstock
#29. University of Washington-Bothell Campus
A brown brick building with the words Makerspace and Discovery Hall on it.
– 40-year NPV: $1,511,000
– Median earnings after 10 years: $68,925
– Net-price: $11,060
– Graduation rate: 66%
– Median debt: $12,545
Colleen Michaels // Shutterstock
#28. University of Washington-Tacoma Campus
Warehouse style brown and glass building with a glass cat walk over a road from one building to another.
– 40-year NPV: $1,512,000
– Median earnings after 10 years: $68,925
– Net-price: $10,817
– Graduation rate: 57%
– Median debt: $12,545
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#27. South Dakota School of Mines and Technology
A large brick building in the distance with a snowy campus with large bare trees in the foreground.
– 40-year NPV: $1,521,000
– Median earnings after 10 years: $71,287
– Net-price: $19,815
– Graduation rate: 49%
– Median debt: $20,500
Ken Wolter // Shutterstock
#26. University of Connecticut
A brick sign with UCONN university lettering.
– 40-year NPV: $1,527,000
– Median earnings after 10 years: $72,460
– Net-price: $22,012
– Graduation rate: 84%
– Median debt: $19,292
Jon Bilous // Shutterstock
#25. University of Maryland-College Park
A red brick building with a brick lane leading to it.
– 40-year NPV: $1,541,000
– Median earnings after 10 years: $71,837
– Net-price: $19,045
– Graduation rate: 87%
– Median debt: $17,369
The Old Major // Shutterstock
#24. Virginia Military Institute
A large stone building with two flags flying and a statue of a person in front of it.
– 40-year NPV: $1,544,000
– Median earnings after 10 years: $71,910
– Net-price: $17,804
– Graduation rate: 79%
– Median debt: $17,674
Ken Wolter // Shutterstock
#23. University of Illinois Urbana-Champaign
A red brick building with white tower with grass and trees in the foreground.
– 40-year NPV: $1,550,000
– Median earnings after 10 years: $71,539
– Net-price: $15,880
– Graduation rate: 85%
– Median debt: $17,000
Steve Cukrov // Shutterstock
#22. University of California-Irvine
A tall white modern building with many windows and the words Aldrich Hall.
– 40-year NPV: $1,551,000
– Median earnings after 10 years: $71,961
– Net-price: $14,783
– Graduation rate: 84%
– Median debt: $14,390
Steve Cwik // Shutterstock
#21. Binghamton University
A modern white and brown building with a sign that says Binghamton University.
– 40-year NPV: $1,557,000
– Median earnings after 10 years: $72,980
– Net-price: $19,353
– Graduation rate: 82%
– Median debt: $15,000
Rui Serra Maia // Shutterstock
#20. Virginia Polytechnic Institute and State University
A large gray stone building with a tower in the middle and two flags flying in front of it.
– 40-year NPV: $1,559,000
– Median earnings after 10 years: $73,159
– Net-price: $21,198
– Graduation rate: 85%
– Median debt: $19,500
Ken Schulze // Shutterstock
#19. Maine Maritime Academy
Waterfront with a portside view of a tall ship.
– 40-year NPV: $1,571,000
– Median earnings after 10 years: $72,837
– Net-price: $23,239
– Graduation rate: 73%
– Median debt: $24,250
GREG PATTON // Shutterstock
#18. University of Connecticut-Stamford
Modern brick building with lots of windows and sign saying UCONN on top and a parking lot in the foreground.
– 40-year NPV: $1,576,000
– Median earnings after 10 years: $72,460
– Net-price: $11,982
– Graduation rate: 66%
– Median debt: $19,292
Faina Gurevich // Shutterstock
#17. University of Connecticut-Avery Point
A large historic stone building.
– 40-year NPV: $1,585,000
– Median earnings after 10 years: $72,460
– Net-price: $9,981
– Graduation rate: 59%
– Median debt: $19,292
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#16. University of Connecticut-Waterbury Campus
A high-up view of a town with red brick buildings and thick tree-covered land in the background.
– 40-year NPV: $1,594,000
– Median earnings after 10 years: $72,460
– Net-price: $8,046
– Graduation rate: 64%
– Median debt: $19,292
ehrlif // Shutterstock
#15. Michigan Technological University
A brick and stone sign saying Michigan Technological University.
– 40-year NPV: $1,595,000
– Median earnings after 10 years: $73,541
– Net-price: $16,463
– Graduation rate: 69%
– Median debt: $20,164
Pandora Pictures // Shutterstock
#14. University of California-Los Angeles
A red brick building with two towers and dramatic archways.
– 40-year NPV: $1,597,000
– Median earnings after 10 years: $73,744
– Net-price: $14,279
– Graduation rate: 91%
– Median debt: $14,035
Nagel Photography // Shutterstock
#13. University of California-San Diego
A modern gray cement and glass building with a courtyard in front of it filled with plants.
– 40-year NPV: $1,622,000
– Median earnings after 10 years: $74,771
– Net-price: $14,232
– Graduation rate: 87%
– Median debt: $14,988
Agnieszka Gaul // Shutterstock
#12. University of Michigan-Ann Arbor
An aerial view of campus focused on a large gray building with columns and many windows.
– 40-year NPV: $1,646,000
– Median earnings after 10 years: $75,842
– Net-price: $15,336
– Graduation rate: 93%
– Median debt: $16,633
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#11. University of Virginia-Main Campus
A reflective pond in front a white and red brick building.
– 40-year NPV: $1,649,000
– Median earnings after 10 years: $77,048
– Net-price: $20,397
– Graduation rate: 94%
– Median debt: $15,711
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#10. New Jersey Institute of Technology
A close up of two pairs of hands typing on laptops.
– 40-year NPV: $1,717,000
– Median earnings after 10 years: $80,043
– Net-price: $19,706
– Graduation rate: 66%
– Median debt: $17,500
Claudine Van Massenhove // Shutterstock
#9. California Polytechnic State University-San Luis Obispo
Name and banners on street at entrance to university campus under a blue sky.
– 40-year NPV: $1,730,000
– Median earnings after 10 years: $80,643
– Net-price: $21,595
– Graduation rate: 82%
– Median debt: $16,500
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#8. Missouri University of Science and Technology
Three people wearing lab coats working in a lab.
– 40-year NPV: $1,749,000
– Median earnings after 10 years: $80,289
– Net-price: $14,262
– Graduation rate: 64%
– Median debt: $18,500
Sheila Fitzgerald // Shutterstock
#7. University of California-Berkeley
A large, red brick building with many windows.
– 40-year NPV: $1,752,000
– Median earnings after 10 years: $80,364
– Net-price: $15,329
– Graduation rate: 92%
– Median debt: $12,390
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#6. SUNY Maritime College
An aerial view of a large vessel with cargo containers., with many more like it in the background.
– 40-year NPV: $1,832,000
– Median earnings after 10 years: $84,443
– Net-price: $20,616
– Graduation rate: 71%
– Median debt: $18,250
fisheradam13 // Shutterstock
#5. United States Merchant Marine Academy
A sunset with the chapel and bell in the foreground.
– 40-year NPV: $1,880,000
– Median earnings after 10 years: $83,209
– Net-price: $6,433
– Graduation rate: 82%
– Median debt: $7,000
Framalicious // Shutterstock
#4. Colorado School of Mines
A gray building with a tall tower a large piece of a stone with a placard in front of it.
– 40-year NPV: $1,922,000
– Median earnings after 10 years: $90,060
– Net-price: $26,750
– Graduation rate: 82%
– Median debt: $19,500
Rob Hainer // Shutterstock
#3. Georgia Institute of Technology-Main Campus
A red brick building with a tall tower in the center and concrete stairs leading to it.
– 40-year NPV: $1,947,000
– Median earnings after 10 years: $88,196
– Net-price: $14,739
– Graduation rate: 89%
– Median debt: $20,250
Yingna Cai // Shutterstock
#2. Massachusetts Maritime Academy
Buildings and ships anchored by the river.
– 40-year NPV: $1,971,000
– Median earnings after 10 years: $91,668
– Net-price: $20,485
– Graduation rate: 75%
– Median debt: $23,099
MediaNews Group/Bay Area News via Getty Images // Getty Images
#1. California State University Maritime Academy
Black, red and white large vessel anchored in the port.
– 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.
