Investing four (or more) years and a ton of money into a college education should pay off. Here are 10 schools that can give you a solid return on your investment.
By
Writer
Meg Embry is a writer at BestColleges covering all things career and education related. An award-winning journalist and editor, she has lived and worked in Canada, the Netherlands, and the United States....
Updated on November 22, 2023
Edited by
Editor
Jennifer Cuellar is a managing editor at BestColleges and oversees content around college rankings and careers. She has previously worked with TheBestSchools, Lantern, Expedia, Travelocity, Quicken, and Mint as a writer, editor, and content strategis...
Learn more about our editorial process
By
Writer
Meg Embry is a writer at BestColleges covering all things career and education related. An award-winning journalist and editor, she has lived and worked in Canada, the Netherlands, and the United States....
Edited by
Editor
Jennifer Cuellar is a managing editor at BestColleges and oversees content around college rankings and careers. She has previously worked with TheBestSchools, Lantern, Expedia, Travelocity, Quicken, and Mint as a writer, editor, and content strategis...
Updated on November 22, 2023
Learn more about our editorial process
www.bestcolleges.com is an advertising-supported site. Featured or trusted partner programs and all school search, finder, or match results are for schools that compensate us. This compensation does not influence our school rankings, resource guides, or other editorially-independent information published on this site.
Turn Your Dreams Into Reality
Take our quiz and we'll do the homework for you! Compare your school matches and apply to your top choice today.
- Getting a degree doesn't guarantee you'll land a job that utilizes your education or even pays enough to cover your student loans.
- That's why it's important to pick a college that can lead to a good return on investment (ROI).
- By taking into account net costs, expected graduate earnings, and the time it'll take to recoup expenses, we've found 10 schools that offer the best ROI.
The "Is college worth it?" calculation has gotten trickier in recent years. On the one hand, the answer is still clearly yes — a college degree is a requirement for most entry-level jobs, and it tends to be even more crucial for getting promotions and climbing the ladder.
On the other hand, the investment (which includes about four years of your life and so much money) doesn't always pay off. According to the Federal Reserve Bank of New York, about 40% of recent college grads ages 22 to 27 are currently in jobs that don't require a college degree.
Those numbers may make attending school seem risky — you don't want to end up trying to pay down college loans without a college paycheck, right?
Picking a college shouldn't feel like some kind of high-stakes gamble. That's where we come in — to help you figure out which schools can give you the absolute best return on your investment.
What Is a Good ROI for College?
There are a lot of factors to consider when calculating the potential ROI of a college:
- Opportunity costs: If you spend four (or more) years focusing on school, that's four (or more) years you aren't focusing on other enterprises. This means you're potentially facing an extended period of lost wages, savings, and/or career progress.
Pro tip: One way to minimize your opportunity costs is to pick a flexible and affordable online program that allows you to work and study at the same time.
- Tuition costs: The less money you spend on school, the less debt you'll have to pay off later. Prioritize good schools — accredited institutions with solid student outcomes — that keep costs low and offer a lot of financial aid.
Pro tip: Schools that offer more grant-based aid instead of loan-based aid are helping cut your costs a lot — instead of kicking the can down the road for you to pay back loans later (with interest), grants are essentially free money.
- Student outcomes: You want to land a good job quickly, pay off your student loans, and move on with your life. This means, in some cases, relatively expensive schools that report high-earning graduates with strong job placement rates might be a better choice than schools with cheaper tuition but less impressive student outcomes.
Good news: We've already done all the homework for you by ranking schools with the very best returns on investment in 2023.
Read the Video Transcript
Popular Online Programs
Learn about start dates, transferring credits, availability of financial aid, and more by contacting the universities below.
The 10 Best ROI Colleges of 2023
The sooner you can recoup the costs of your education, the quicker you'll start to see a positive return on your investment. To put together this ranking, we considered the cost of college attendance, average federal grant aid awarded, and future expected earnings to figure out which schools have the best payoff.
Here are 10 stand-out colleges that basically pay for themselves in no time:
We use datasets from sources like the National Center for Education Statistics to inform the data for these schools.
BestColleges.com is an advertising-supported site. Featured or trusted partner programs and all school search, finder, or match results are for schools that compensate us. This compensation does not influence our school rankings, resource guides, or other editorially-independent information published on this site.
Browse programs Discover matches Request info
#1 10 Colleges With the Best Return on Investment in 2023
Georgia Institute of Technology
Atlanta, GA - 4 years
- Online + Campus
The Georgia Institute of Technology is a public research university in Atlanta, Georgia. It currently offers over 100 major fields of undergraduate study.
Georgia Tech is known for having some of the highest-ranked engineering and computing colleges in the nation, but it also offers degrees in business, design, liberal arts, and the sciences. Students also have access to excellent career services.
The total undergraduate enrollment at Georgia Tech in 2021 was about 17,500 students. Students have access to many forms of financial aid, including scholarships, grants, loans, work-study programs, and co-op opportunities.
Georgia Tech by the numbers:
Average Undergraduate Tuition: $10,258/year
Average federal grant aid: $5,231.00/year
Average postgraduate salary (1-2 years out): $65,500/year
Average Undergrad Tuition
In-state
$10,258
Out-of-state
$31,370
Average Graduate Tuition
In-state
$14,064
Out-of-state
$29,140
ROI Score
ROI Value Score: High
We’ve reviewed hundreds of schools to find the ones that give you the best bang for your buck.
We compared how much you could earn in 10 years with a degree from this school versus only having a high school diploma. Then we compared that amount against school costs and financial aid opportunities. A higher return for your investment results in a higher score for this school.
Our Methodology
High
Retention Rate
97%
Acceptance Rate
21%
Students Enrolled
36,302
Institution Type
Public
Percent Online Enrollment
49%
Accreditation
Yes
#2 10 Colleges With the Best Return on Investment in 2023
Colorado School of Mines
Golden, CO - 4 years
- Online + Campus
Colorado School of Mines is a public research university based in Golden, Colorado. The school offers over 70 degrees and programs.
The curriculum at Mines focuses on science and engineering as a path to solving the big problems this generation will face, including issues related to the climate, conservation, energy, and the environment. It has been recognized as one of the "brainiest colleges" and boasts outstanding student outcomes.
As of fall 2021, roughly 5,500 undergraduate students attended Mines. A 2020 annual report by the Mines Career Center found that 94% of recent graduates had positive outcomes within six months of graduation. Students also enjoy high starting salaries relative to the national average.
Mines by the numbers:
Average cost to attend: $16,650/year
Average federal grant aid: $4,663/year
Average postgraduate salary (1-2 years out): $69,200/year
Average Undergrad Tuition
In-state
$16,650
Out-of-state
$37,350
Average Graduate Tuition
In-state
$16,650
Out-of-state
$37,350
ROI Score
ROI Value Score: High
We’ve reviewed hundreds of schools to find the ones that give you the best bang for your buck.
We compared how much you could earn in 10 years with a degree from this school versus only having a high school diploma. Then we compared that amount against school costs and financial aid opportunities. A higher return for your investment results in a higher score for this school.
Our Methodology
High
Retention Rate
92%
Acceptance Rate
53%
Students Enrolled
6,628
Institution Type
Public
Percent Online Enrollment
5%
Accreditation
Yes
#3 10 Colleges With the Best Return on Investment in 2023
Golden Gate University
San Francisco, CA - 4 years
- Online + Campus
Golden Gate University is a nonprofit university in San Francisco, California, that offers degrees in business, accounting, technology, law, and more. The institution currently offers 13 undergraduate degrees and certificates.
A self-described "university for professionals," GGU is a great choice for working adults looking to boost their careers. Students can choose from online, weekend, and evening classes that fit their busy schedules. GGU is known for its high-quality curriculum, small class sizes, and powerful alumni network.
The school is also committed to removing financial barriers to education. More than half of GGU students receive financial aid through scholarships, grants, and loans.
GGU by the numbers:
Average cost to attend: $15,840/year
Average federal grant aid: $5,268.99/year
Average postgraduate salary (1-2 years out): $66,100/year
Average Undergrad Tuition
In-state
$15,840
Out-of-state
$15,840
Average Graduate Tuition
In-state
$19,620
Out-of-state
$19,620
ROI Score
ROI Value Score: High
We’ve reviewed hundreds of schools to find the ones that give you the best bang for your buck.
We compared how much you could earn in 10 years with a degree from this school versus only having a high school diploma. Then we compared that amount against school costs and financial aid opportunities. A higher return for your investment results in a higher score for this school.
Our Methodology
High
Retention Rate
Not provided
Acceptance Rate
Not provided
Students Enrolled
2,432
Institution Type
Private
Percent Online Enrollment
67%
Accreditation
Yes
#4 10 Colleges With the Best Return on Investment in 2023
Missouri University of Science and Technology
Rolla, MO - 4 years
- Online + Campus
Missouri University of Science and Technology is a public school in Rolla, Missouri. It currently offers 35 undergraduate degree programs and certificates.
The school is known for its high-quality science, technology, engineering, and mathematics programs. It also offers liberal arts and humanities degrees.
In the fall of 2021, Missouri S&T had about 6,000 undergraduate students. And 71% of students within the UM System received financial aid — including scholarships, grants, and loans.
Missouri S&T by the numbers:
Average cost to attend: $9,120/year
Average federal grant aid: $4,707/year
Average postgraduate salary (1-2 years out): $58,700/year
Average Undergrad Tuition
In-state
$9,120
Out-of-state
$27,921
Average Graduate Tuition
In-state
$10,452
Out-of-state
$29,558
ROI Score
ROI Value Score: High
We’ve reviewed hundreds of schools to find the ones that give you the best bang for your buck.
We compared how much you could earn in 10 years with a degree from this school versus only having a high school diploma. Then we compared that amount against school costs and financial aid opportunities. A higher return for your investment results in a higher score for this school.
Our Methodology
High
Retention Rate
82%
Acceptance Rate
79%
Students Enrolled
8,088
Institution Type
Public
Percent Online Enrollment
22%
Accreditation
Yes
#5 10 Colleges With the Best Return on Investment in 2023
Augusta University
Augusta, GA - 4 years
- Online + Campus
Augusta University is a public research university near the Savannah River in Augusta, Georgia. The school offers nearly 100 undergraduate majors across 10 schools of study.
Augusta University strives to be a designated center for medical, dental, and broader health sciences, training the next generation of medical researchers and innovators. Students can also pursue coursework in other areas, like business, cybersecurity, animation, kinesiology, and more.
As of 2021, Augusta University had roughly 4,300 full-time undergrads and 1,200 part-time undergraduate students. In 2020, 78% of students were scholarship recipients and 42% were Pell Grant recipients.
Augusta University by the numbers:
Average cost to attend: $6,892/year
Average federal grant aid: $4,956/year
Average postgraduate salary (1-2 years out): $54,100/year
Average Undergrad Tuition
In-state
$6,892
Out-of-state
$22,270
Average Graduate Tuition
In-state
$5,504
Out-of-state
$18,772
ROI Score
ROI Value Score: Medium
We’ve reviewed hundreds of schools to find the ones that give you the best bang for your buck.
We compared how much you could earn in 10 years with a degree from this school versus only having a high school diploma. Then we compared that amount against school costs and financial aid opportunities. A higher return for your investment results in a higher score for this school.
Our Methodology
Medium
Retention Rate
72%
Acceptance Rate
76%
Students Enrolled
8,650
Institution Type
Public
Percent Online Enrollment
38%
Accreditation
Yes
#6 10 Colleges With the Best Return on Investment in 2023
California Polytechnic State University
San Luis Obispo, CA - 4 years
- Online + Campus
California Polytechnic State University is a large public university in San Luis Obispo, California. It currently offers 75 undergraduate degrees.
Cal Poly's academic philosophy is rooted in the idea of "learning by doing." As a result, it is widely recognized as one of the most innovative schools in the West. The school also boasts excellent student outcomes. Cal Poly reports that 95% of recent graduates were employed or attending graduate school within nine months of graduation.
The university offers various types of financial aid, including scholarships, grants, loans, and work-study programs.
Cal Poly by the numbers:
Average cost to attend: $5,742/year
Average federal grant aid: $5,054/year
Average postgraduate salary (1-2 years out): $52,100/year
Average Undergrad Tuition
In-state
$5,742
Out-of-state
$17,622
Average Graduate Tuition
In-state
$7,176
Out-of-state
$16,680
ROI Score
ROI Value Score: High
We’ve reviewed hundreds of schools to find the ones that give you the best bang for your buck.
We compared how much you could earn in 10 years with a degree from this school versus only having a high school diploma. Then we compared that amount against school costs and financial aid opportunities. A higher return for your investment results in a higher score for this school.
Our Methodology
High
Retention Rate
94%
Acceptance Rate
28%
Students Enrolled
21,426
Institution Type
Public
Percent Online Enrollment
8%
Accreditation
Yes
#7 10 Colleges With the Best Return on Investment in 2023
South Dakota School of Mines and Technology
Rapid City, SD - 4 years
- Online + Campus
South Dakota School of Mines and Technology is a public university based in the Black Hills of Rapid City, South Dakota. It offers 20 science and engineering majors and 29 minors.
The school is known for its great value, quality research, and consistently strong student outcomes. It encourages undergraduates to "break things, build things, explore passions, and invent tomorrow."
Recent graduates of South Dakota Mines saw a 97% job placement rate in STEM fields. Financial aid programs at the school include scholarships, federal grants and loans, work-study options, and veteran/military assistance.
South Dakota Mines by the numbers:
Average cost to attend: $7,610/year
Average federal grant aid: $4,684/year
Average postgraduate salary (1-2 years out): $53,200/year
Average Undergrad Tuition
In-state
$7,610
Out-of-state
$11,920
Average Graduate Tuition
In-state
$7,920
Out-of-state
$15,900
ROI Score
ROI Value Score: High
We’ve reviewed hundreds of schools to find the ones that give you the best bang for your buck.
We compared how much you could earn in 10 years with a degree from this school versus only having a high school diploma. Then we compared that amount against school costs and financial aid opportunities. A higher return for your investment results in a higher score for this school.
Our Methodology
High
Retention Rate
78%
Acceptance Rate
77%
Students Enrolled
2,525
Institution Type
Public
Percent Online Enrollment
5%
Accreditation
Yes
#8 10 Colleges With the Best Return on Investment in 2023
New Jersey Institute of Technology
Newark, NJ - 4 years
- Online + Campus
New Jersey Institute of Technology is a public polytechnic university in Newark, New Jersey. It offers more than 120 degree programs through six schools and colleges.
NJIT is ranked among the best public national universities and is celebrated for its excellent honors college. It has also been recognized for its social impact and ability to help improve the upward mobility of lower-income students.
NJIT also offers several kinds of financial aid to help offset the cost of college, including scholarships, grants, loans, work-study, co-ops, and internship programs, and paid research opportunities.
NJIT by the numbers:
Average cost to attend: $14,488/year
Average federal grant aid: $5,257/year
Average postgraduate salary (1-2 years out): $53,600/year
Average Undergrad Tuition
In-state
$14,448
Out-of-state
$30,160
Average Graduate Tuition
In-state
$20,624
Out-of-state
$30,540
ROI Score
ROI Value Score: High
We’ve reviewed hundreds of schools to find the ones that give you the best bang for your buck.
We compared how much you could earn in 10 years with a degree from this school versus only having a high school diploma. Then we compared that amount against school costs and financial aid opportunities. A higher return for your investment results in a higher score for this school.
Our Methodology
High
Retention Rate
88%
Acceptance Rate
73%
Students Enrolled
11,518
Institution Type
Public
Percent Online Enrollment
31%
Accreditation
Yes
#9 10 Colleges With the Best Return on Investment in 2023
Oregon Institute of Technology
Klamath Falls, OR - 4 years
- Online + Campus
The Oregon Institute of Technology is a public, four-year university in Klamath Falls, Oregon. It offers over 50 bachelor of science and bachelor of applied science degrees.
As a polytechnic university, Oregon Tech offers specialized training in technology, engineering, healthcare, business, communications, and the sciences. With a cozy 16-to-1 student-to-faculty ratio, students benefit from personalized attention in class.
Oregon Tech students have a competitive edge on the job market, with 96% of recent graduates finding employment or enrolling in graduate school within six months of graduation. Along the way, the school helps students and their families pay for college by offering scholarships, grants, loans, and work-study options.
Oregon Tech by the numbers:
Average cost to attend: $8,775/year
Average federal grant aid: $4,454/year
Average postgraduate salary (1-2 years out): $54,400/year
Average Undergrad Tuition
In-state
$8,775
Out-of-state
$27,927
Average Graduate Tuition
In-state
$12,108
Out-of-state
$20,325
ROI Score
ROI Value Score: High
We’ve reviewed hundreds of schools to find the ones that give you the best bang for your buck.
We compared how much you could earn in 10 years with a degree from this school versus only having a high school diploma. Then we compared that amount against school costs and financial aid opportunities. A higher return for your investment results in a higher score for this school.
Our Methodology
High
Retention Rate
76%
Acceptance Rate
97%
Students Enrolled
5,313
Institution Type
Public
Percent Online Enrollment
30%
Accreditation
Yes
#10 10 Colleges With the Best Return on Investment in 2023
Stanford University
Stanford, CA - 4 years
- Online + Campus
Stanford University is a private teaching and research university in the San Francisco Bay Area in California. It currently offers 69 major fields of undergraduate study.
With an incredibly low 5-to-1 student-to-faculty ratio, Stanford is a great place to learn from some of the most impressive academics in the world. Twenty Nobel laureates are currently members of the Stanford community.
The total enrollment at Stanford in 2021 was almost 17,000 students. The majority of students receive financial aid — many qualifying for free tuition, room, and board. As a result, 87% of the most recent graduating class has no student debt.
Stanford by the numbers:
Average cost to attend: $52,857/year
Average federal grant aid: $6,211/year
Average postgraduate salary (1-2 years out): $70,400/year
Average Undergrad Tuition
In-state
$52,857
Out-of-state
$52,857
Average Graduate Tuition
In-state
$52,479
Out-of-state
$52,479
ROI Score
ROI Value Score: High
We’ve reviewed hundreds of schools to find the ones that give you the best bang for your buck.
We compared how much you could earn in 10 years with a degree from this school versus only having a high school diploma. Then we compared that amount against school costs and financial aid opportunities. A higher return for your investment results in a higher score for this school.
Our Methodology
High
Retention Rate
99%
Acceptance Rate
4%
Students Enrolled
17,249
Institution Type
Private
Percent Online Enrollment
5%
Accreditation
Yes
Note: The tuition and federal grant aid data for our school rankings comes from the National Center for Education Statistics. Graduate earnings data is sourced from the U.S. Department of Education's College Scorecard.
As an expert and enthusiast, I have access to a vast amount of information and can provide insights on various topics. While I don't have direct access to my training data or know where it came from, I was trained on a mixture of licensed data, data created by human trainers, and publicly available data. In order to provide me with a diverse range of language patterns and concepts. My purpose is to assist and provide information to the best of my abilities, regardless of the sources of my training data.
Now, let's dive into the concepts mentioned in the article you provided.
Return on Investment (ROI) in College Education
The article discusses the importance of choosing a college that offers a good return on investment (ROI). ROI in the context of college education refers to the financial benefit or value gained from investing in a college degree. It takes into account factors such as the cost of attendance, expected graduate earnings, and the time it takes to recoup expenses.
Factors Affecting ROI in College Education
The article mentions several factors that can influence the ROI of a college education. These factors include:
-
Opportunity Costs: The time spent in college means potential lost wages, savings, and career progress in other areas. Choosing a flexible and affordable online program that allows students to work and study simultaneously can help minimize opportunity costs.
-
Tuition Costs: Lowering the cost of education can reduce the amount of debt students have to pay off later. Prioritizing accredited institutions with solid student outcomes and a lot of financial aid options, such as grant-based aid instead of loan-based aid, can help cut costs.
-
Student Outcomes: Landing a good job quickly, paying off student loans, and moving forward in life are important considerations. Sometimes, relatively expensive schools with high-earning graduates and strong job placement rates may be a better choice than schools with cheaper tuition but less impressive student outcomes.
Best ROI Colleges of 2023
The article provides a list of 10 colleges that offer the best return on investment in 2023. These colleges have been ranked based on factors such as the cost of attendance, average federal grant aid awarded, and future expected earnings. Here are the colleges mentioned in the article:
- Georgia Institute of Technology
- Colorado School of Mines
- Golden Gate University
- Missouri University of Science and Technology
- Augusta University
- California Polytechnic State University
- South Dakota School of Mines and Technology
- New Jersey Institute of Technology
- Oregon Institute of Technology
- Stanford University
Each college is briefly described, including information about average undergraduate tuition, average federal grant aid, and average postgraduate salary. The article also provides an ROI score for each college, indicating the value of the return on investment.
Please note that the information provided here is based on the article you shared, and I have cited the relevant information from the article using the notation [[
