With the price of college being so high, it has become more important for families to spend their money on a school that will give them a solid return on investment (ROI).
According to a new report from Pay Scale, the best schools in the nation are some of the most expensive. For example, Harvey Mudd, Caltech, MIT and Stanford might cost more than $200,000 for four years, but graduates end up making six figure salaries fairly quickly.
Those were the four top rated schools in terms of 20-year net ROI, meaning the total income a graduate earns after 20 years of work minus what they spent on school. Schools like those also have very high graduation rates, but are extremely selective.
Here are the top 10 public schools for a 20-year net ROI.
1. Colorado School of Mines
2013 cost: $114,200
20-year net ROI: $783,400
Annual ROI: 11.0%
Graduation Rate: 67%
2. Georgia Institute of Technology
2013 cost: $92,250
20-year net ROI: $755,600
Annual ROI: 11.9%
Graduation Rate: 79%
3. Massachusetts Maritime Academy
2013 cost: $96,560
20-year net ROI: $702,100
Annual ROI: 11.3%
Graduation Rate: 61%
4. South Dakota School of Mines and Technology
2013 cost: $90,330
20-year net ROI: $664,400
Annual ROI: 11.4%
Graduation Rate: 55%
5. Missouri University of Science and Technology
2013 cost: $98,170
20-year net ROI: $661,000
Annual ROI: 10.9%
Graduation Rate: 65%
6. University of California - Berkeley
2013 cost: $133,900
20-year net ROI: $654,400
Annual ROI: 9.4%
Graduation Rate: 91%
7. California Polytechnic State University - San Luis Obispo
2013 cost: $103,600
20-year net ROI: $611,700
Annual ROI: 10.3%
Graduation Rate: 72%
8. New Jersey Institute of Technology
2013 cost: $137,700
20-year net ROI: $588,500
Annual ROI: 8.8%
Graduation Rate: 54%
9. New Mexico Institute of Mining and Technology
2013 cost: $76,410
20-year net ROI: $588,400
Annual ROI: 11.6%
Graduation Rate: 47%
10. Texas A&M University
2013 cost: $91,040
20-year net ROI: $566,700
Annual ROI: 10.6%
Graduation Rate: 80%
