Michigan Tech Ranks High Nationally in Return on Investment
In a new report on the 50 best colleges and universities for return on investment (ROI), the website bestcolleges.com ranked Michigan Tech 18th in the nation. ROI is a measure of the cost of a college education compared to its graduates' earning potential.
Bestcolleges.com reports that Tech's 30-year net ROI — the average net earnings a graduate can expect over 30 years of work, minus the cost of their education — is just under $1 million: $999,300.
"Michigan Tech is in good company on this list," said John Lehman, associate vice president for enrollment and university relations. "The return our students see in their investment in Tech has a lot to do with Tech's investment in our students."
Using data from payscale.com that is a couple of years out of date, bestcolleges.com listed Tech graduates' starting salary at an average of $59,200. More recent data reports the average starting salary at $62,800.
The bestcolleges.com website had high praise for Michigan Tech's financial aid program. "At 93 percent, no public school on our list awards more financial aid to its student body; the average recipient is given $10,236 over the course of four years," the ROI report said. "Coupled with the typical graduate's starting salary, it's easy to see why Michigan Tech boasts such a high ROI for students that earn a degree there."
While noting that the most popular careers for Tech grads are in engineering fields, the report also singled out the School of Forest Resources and Environmental Science, saying that it "is considered by many academic experts to be among the finest institutions of its kind in the world."
See the report here.