College ROI Report
Updated 2024
Best-value Engineering Colleges
In Payscale’s College ROI Report, when sorting by school type, engineering schools easily top the list of best values.
| Rank | School Name | 20 Year Net ROI | Total 4 Year Cost | Graduation Rate | Typical Years to Graduate | Average Loan Amount |
|---|---|---|---|---|---|---|
| Rank:1 | School Name: Harvey Mudd College (Private) | 20 Year Net ROI:$1,426,000 | Total 4 Year Cost:$326,000 | Graduation Rate:92% | Typical Years to Graduate:4 | Average Loan Amount:$29,900 |
| Rank:2 | School Name:_50px.png) Massachusetts Institute of Technology (Private) | 20 Year Net ROI:$1,378,000 | Total 4 Year Cost:$302,000 | Graduation Rate:95% | Typical Years to Graduate:4 | Average Loan Amount:$55,200 |
| Rank:3 | School Name:_50px.png) United States Merchant Marine Academy (Service Academy) | 20 Year Net ROI:$1,352,000 | Total 4 Year Cost:$24,500 | Graduation Rate:77% | Typical Years to Graduate:4 | Average Loan Amount:$17,300 |
| Rank:4 | School Name: at Annapolis_50px.png) United States Naval Academy (Service Academy) | 20 Year Net ROI:$1,254,000 | Total 4 Year Cost:$0 | Graduation Rate:90% | Typical Years to Graduate:4 | Average Loan Amount:- |
| Rank:5 | School Name: Colorado School of Mines (In-State) | 20 Year Net ROI:$1,201,000 | Total 4 Year Cost:$152,000 | Graduation Rate:82% | Typical Years to Graduate:4 | Average Loan Amount:$35,500 |
| Rank:6 | School Name:_50px.png) United States Air Force Academy (Service Academy) | 20 Year Net ROI:$1,161,000 | Total 4 Year Cost:$0 | Graduation Rate:100% | Typical Years to Graduate:4 | Average Loan Amount:- |
| Rank:7 | School Name:_50px.png) California Institute of Technology (Private) | 20 Year Net ROI:$1,138,000 | Total 4 Year Cost:$316,000 | Graduation Rate:94% | Typical Years to Graduate:4 | Average Loan Amount:$50,200 |
| Rank:8 | School Name:Colorado School of Mines (Out-of-State) | 20 Year Net ROI:$1,116,000 | Total 4 Year Cost:$236,000 | Graduation Rate:82% | Typical Years to Graduate:4 | Average Loan Amount:$35,500 |
| Rank:9 | School Name: Georgia Institute of Technology-Main Campus (In-State) | 20 Year Net ROI:$1,091,000 | Total 4 Year Cost:$117,000 | Graduation Rate:93% | Typical Years to Graduate:5 | Average Loan Amount:$28,100 |
| Rank:10 | School Name: Webb Institute (Private) | 20 Year Net ROI:$1,063,000 | Total 4 Year Cost:$301,000 | Graduation Rate:89% | Typical Years to Graduate:4 | Average Loan Amount:$22,000 |
Engineers use science and math to solve real-life problems, and engineering graduates’ skillset makes them highly sought after by many employers after graduation. The top engineering schools tend to be highly competitive, but earning a degree from one means you’ll be in high demand and command an equally high salary. With a STEM degree or other degree from a respected engineering school, a student can go on to enjoy a successful career in many fields.
The California Institute of Technology is consistently ranked among the best universities in the world for engineering, technology and the physical sciences, and Caltech — as it’s more commonly known — was founded in 1891. The private, Pasadena-based university is split up into six academic divisions, most of which have an emphasis on science and engineering. Caltech offers 24 majors, or “options,” and six minors, with computer science, electrical engineering and chemical engineering being among the most popular.
One-third of all manned space flights have included graduates of Massachusetts Institute of Technology, or MIT, so it’s easy to see why it’s among the best engineering schools a person can select. Located in Cambridge, the private university provides among the best engineering schools return on investment you can find. Programs offered by its five schools and colleges span many fields, but the physical sciences and engineering are undoubtedly among the most popular. Since its founding in 1861, MIT has produced or been associated with more than 80 Nobel Laureates, 45 Rhodes Scholars, 52 National Medal of Science recipients and two Fields Medalists, so you would be hard-pressed to find a more prestigious engineering school offering this kind of value.
Based in Claremont, California, Harvey Mudd College is a private school with a tiny population of around 800 undergraduate students, but the school punches far above its weight when it comes to ROI. A significant percentage of its students go on to earn PhDs after earning degrees in mathematics, physics, chemistry, biology, computer science and, of course, engineering. Harvey Mudd College offers Bachelor of Science degrees in a variety of science, math and engineering majors, and students can also attend classes at other schools in the Claremont Colleges consortium. Without a doubt, the school offers one of the best values in engineering schools.
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