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ROI: Investing in Your Education

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The editors at Cheapest Colleges decided to research the topic of:

ROI: Investing in Your Education

All across the country people are experiencing financial difficulties, so it's more important than ever to find the best value when looking for a university to attend. Some offer fantastic tuition rates to out-of-state students; others have higher than average financial aid programs.

Comparing college costs to other costs


- 1,120: percentage increase in college tuition and fees since records began in 1978.
- 15: percentage increase in college costgs between 2008 and 2010
- 4X: Compared to the consumer price index over the same period, college costs have risen four times faster.
- 601: percentage increase in medical expenses since 1978
- 244: Percentage increase of food prices since 1978

Debt: Too big to fail?


- $1 trillion: Estimated student loan debt, 2013
- $117 billion: amount borrowed by students in 2012
- 3: In response to growing student loan debt, some colleges are offering 3-year degrees

Top 10 Most Expensive Universities

(10) Trinity College


- Total Cost: $59,860
- Tuition and Fees: $47,560
- Room and Board: $12,300
- Department of Education Rank: 5

(9) Bard College at Simon's Rock


- Total Cost: $60,003
- Tuition and Fees: $47,313
- Room and Board: $12,690
- Department of Education Rank: 10

(8) University of Chicago


- Total Cost: $60,039
- Tuition and Fees: $46,386
- Room and Board: $13,653
- Department of Education Rank: 11

(7) Dartmouth College


- Total Cost: $60,201
- Tuition and Fees: $46,752
- Room and Board: $13,449
- Department of Education Rank: 21

(6) Wesleyan University


- Cost: $60,214
- Tuition and Fees: $47,274
- Room and Board: $12,940
- Department of Education Rank: 8

(5) Sarah Lawrence College


- Total Cost: $60,656
- Tuition and Fees: $48,696
- Room and Board: $11,960
- Department of Education Rank: 2

(4) Rensselaer Polytechnic Institute


- Total Cost: $60,779
- Tuition and Fees: $47,819
- Room and Board: $12,960
- Department of Education Rank: 36

(3) Bard College


- Total Cost: $61,446
- Tuition and Fees: $47,944
- Room and Board: $13,502
- Department of Education Rank: 16

(2) Harvey Mudd College


- Total Cost: $61,760
- Tuition and Fees: $46,609
- Room and Board: $15,151
- Department of Education Rank: 43

(1) New York University


- Total Cost: $61,977
- Tuition and Fees: $44,845
- Room and Board: $16,622
- Department of Education Rank: 64
- Factoid: Out-of-state tuition averaged roughly $19,100 for the 2012-2013 school year, compared with nearly $8,300 for in-state students

Public schools with the lowest out of state tuition, not including room and board, books, etc.


- School name (state) Tuition and fees (2012-2013) U.S. News rank and category
- Minot State University (ND)
- $5,921 107, Regional Universities (Midwest)
- West Texas A&M University
- $7,630 72, Regional Universities (West)
- Bemidji State University (MN)
- $8,106 93, Regional Universities (Midwest)
- Mayville State University (ND)
- $8,436 51, Regional Colleges (Midwest)
- Northern State University (SD)
- $9,133 51, Regional Colleges (Midwest)
- Midwestern State University (TX)
- $9,188 RNP*, Regional Universities (West)
- Louisiana State University - Alexandria
- $9,244 RNP, National Liberal Arts Colleges
- South Dakota State University
- $9,350 199, National Universities
- University of South Dakota
- $9,650 199, National Universities
- Missouri Southern State University
- $9,654 72, Regional Colleges (Midwest)
- FACT: Minot State University in North Dakota set tuition for 2012-2013 at just under $6,000 for all students, regardless of residency. It is the least expensive public college for out-of-state students.

$0: Tuition charge at the 5 U.S military academies in return for postgraduate service. They are:


- 1. The United States Military Academy (USMA) in West Point, New York, founded in 1802
- 2. The United States Naval Academy (USNA) in Annapolis, Maryland, founded in 1845
- 3. The United States Coast Guard Academy (USCGA) in New London, Connecticut, founded in 1876
- 4. The United States Merchant Marine Academy (USMMA) in Kings Point, New York, founded in 1943
- 5. The United States Air Force Academy (USAFA) in Colorado Springs, Colorado, founded in 1954.

The Princeton Review's 2013 Best Public and Private Value Colleges

"Top 10 Best Value Public Colleges for 2013"


- 1. University of Virginia (Charlottesville)
- 2. University of North Carolina at Chapel Hill
- 3. New College of Florida (Sarasota)
- 4. College of William and Mary (Williamsburg, VA)
- 5. University of California - Los Angeles
- 6. North Carolina State University (Raleigh)
- 7. University of Wisconsin (Madison)
- 8. State University of New York at Binghamton
- 9. University of Michigan - Ann Arbor
- 10. University of Georgia (Athens)

The Princeton Review "Top 10 Best Value Private Colleges for 2013"


- 1. Swarthmore College (Swarthmore, PA)
- 2. Harvard College (Cambridge, MA)
- 3. Williams College (Williamstown, MA)
- 4. Princeton University (Princeton, NJ)
- 5. Pomona College (Claremont, CA)
- 6. Yale University (New Haven, CT)
- 7. Rice University (Houston, TX)
- 8. Hamilton College (Clinton, NY)
- 9. Claremont McKenna College (Claremont, CA)
- 10. Grinnell College (Grinnell, IA)

US News list of the best value national universities


- 1. Harvard University, Cambridge, MA. 60 percent of class receiving need-based grants. Average cost after receiving grant: $14,495
- 2. Yale University, New Haven, CT. 56 percent receives need-based grants, $15,676.
- 3. Princeton, Princeton, NJ., 59.4 percent, $17,015
- 4. Stanford, Palo Alton, CA, 50.5 percent, $17,125
- 5. M.I.T., Cambridge, MA, 64.8 percent, $20,397

Which college graduates make the most money?


- 1. Dartmouth College, $58,200 starting salary for grads; $129,000 mid career
- 2. M.I.T., $71,000 start, $126,000 mid career
- 3. Harvard, $60,000, $126,000
- 4. Harvey Mudd, $71,000, $125,000
- 5. Stanford, $67,500, $124,000

Citations


- http://www.businessinsider.com/most-expensive-colleges-in-america-2013-7?op=1
- http://www.payscale.com/college-salary-report-2013/full-list-of-schools
- http://www.usnews.com/education/best-colleges/the-short-list-college/articles/2013/06/25/10-public-schools-with-the-cheapest-out-of-state-tuition
- http://www.princetonreview.com/best-value-colleges.aspx
- http://colleges.usnews.rankingsandreviews.com/best-colleges/rankings/national-universities/best-value
- http://www.princetonreview.com/bvc-methodology.aspx
- http://www.huffingtonpost.com/2012/08/15/cost-of-college-degree-increase-12-fold-1120-percent-bloomberg_n_1783700.html
- http://www.huffingtonpost.com/2012/03/22/student-loan-interest-rate_n_1372506.html
- http://www.theatlantic.com/business/archive/2009/07/which-colleges-graduates-make-the-most-money/21808/


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