We’ve written before about how public colleges aren’t necessarily the most affordable choice in the long run. In some cases, private colleges may offer more financial aid than public schools and can sometimes end up being even less expensive.
Not only can attending a private college sometimes save you money upfront, in many cases it can pay off long after graduation.
Private colleges that offer high ROI
This is because many private colleges have large endowments, which help students avoid taking out student loans by providing them generous financial aid packages, as well as extensive alumni networks and positive reputations hat can make it easier to get good jobs.
CNBC recently put together a list of the 10 private U.S. colleges that provide the best value for graduates. First, they used Tuition Tracker to take the net cost of colleges (the final price of college including tuition, room and board and books minus financial aid) for families making between $48,001 and $75,000.
Using data from PayScale’s College Salary Report, CNBC then divided the net cost by graduates’ expected annual earnings. Their ranking gives greater weight to workers’ earnings in the years immediately after college, when individuals are the most impacted by college costs and student debt.
Stanford named top value private college
Topping their list was Stanford University, which offers students a combination of generous financial aid packages and great earning prospects.
Not only does Stanford University have one of the most gorgeous campuses in the country, it’s also one of the most generous with financial aid packages and offer some of the best job prospects. [Image by Jawed Karim. [GFDL or CC-BY-SA-3.0], from Wikimedia Commons]
According to their reporting, the net cost for middle class students at Stanford is just $4,061 per year. Stanford graduates with more than 10 years of experience report average salaries of $143,100.
Several Ivy League colleges appear in the top 10, as well as top non-Ivy league schools.
Here’s their full list of the top 10 private colleges that pay off the most:
- Stanford University
- Princeton University
- University of Chicago
- California Institute of Technology
- Harvard University
- Yale University
- Columbia University
- Massachusetts Institute of Technology (MIT)
- Pomona College
- Duke University
Of course, many of these colleges aren’t easy to get into — but if you do, they’re worth exploring despite their high sticker prices. Particularly for low and middle income families, these colleges combine affordability with many post-graduate opportunities and high salaries.
Even if you don’t attend one of these 10 colleges, there are plenty of affordable private colleges that offer students large financial aid packages and high potential earnings. We can help you sort out all of your college options and figure out which makes the most financial sense for your family.
If you’re interested in working with one of our advisors give us a call at 1-888-234-3907 or contact us.
