Bachelor’s degrees from private colleges have the highest returns on investment 40 years after enrollment, a new report released Thursday by the Georgetown University Center on Education and the Workforce in Washington, D.C. “A First Try at ROI: Ranking 4,500 Colleges” asks the $1.5 trillion question: Is college worth it?Of the 10 colleges with the best long-term net economic gain after 40 years, all are four-year institutions, and eight are private nonprofit institutions, the report said.
The survey names these colleges as giving the biggest return on investment after four decades: Albany College of Pharmacy and Health Sciences, St. Louis College of Pharmacy, Massachusetts College of Pharmacy and Health Sciences, Massachusetts Institute of Technology, Stanford University, Maine Maritime Academy, Harvard University, United States Merchant Marine Academy, Babson College and Georgetown University.
Institutions with the lowest long-term economic value range from theological institutions and beauty schools to colleges specializing in the arts. “Even though students, on average, take out more than twice as much in loans to attend private colleges, a degree from a private nonprofit college is worth $8,000 more annually 10 years after enrollment,” the report said.
After four decades, however, the average graduate of a private college has a net economic gain of $838,000, even after paying off higher amounts of debt — 9.5% more than the $765,000 net financial gain for a graduate of a public college.