Rankings Touts Indiana Schools' 'Million Dollar ROI'Posted: Updated:
A national college affordability website has included two private Indiana institutions on an annual list ranking their return on investment. AffordableCollegesOnline.org says its 2013 "Million Dollar ROI" rankings highlight the projected 30-year earnings of private school graduates versus non-degree holders. Rose-Hulman Institute of Technology placed 7th, while the University of Notre Dame ranked 15th.
Originally Posted June 27, 2013
SAN FRANCISCO - AffordableCollegesOnline.org (ACO) has released its "Million Dollar ROI" rankings for 2013, a new list of private universities whose graduates out-earn non-degree holders by at least one million dollars during their careers. Institutions on the list make up the top 1 percent of U.S. colleges as measured by return on investment (ROI).
"Some of today's most recognizable universities appear on the list, despite higher tuition rates," says ACO founder Dan Schuessler. "While ACO is dedicated to promoting affordability, these colleges provide significant value to their students. Students pay to gain the skills necessary for long-term career success."
Each school's return on investment figure derives from a three-tiered calculation: estimated 30-year earnings of graduates minus both projected earnings without a degree and four years of tuition and fees. Key data sources and partners leveraged for the analysis include the following:
-NCES, the primary federal entity for collecting and analyzing data related to education. It provides consistent, reliable, complete, and accurate indicators of education status and trends.
-IPEDS, the primary federal source for data on colleges, universities, and technical and vocational postsecondary schools in the U.S.
-Carnegie Classification, a framework widely used in the study of higher education, both as a way to represent and control for institutional differences, and also in the design of research studies to ensure adequate representation of sampled institutions, students, or faculty.
-Payscale.com, the premier salary data collection organization.
AffordableCollegesOnline.org provides college hopefuls and their parents with information and resources to help them manage the cost of obtaining an education. It's the first website to offer comprehensive lists of "Most Affordable Colleges" in different categories. In addition to lists of affordable colleges, ACO provides information related to financial aid and some unique features, such as:
-A directory of free online "101" courses offered by such schools as MIT, Notre Dame, and UC Berkeley.
-A comprehensive video that demystifies the FAFSA (Free Application for Federal Student Aid) process
-Tips and advice from leading financial aid officers
-The latest information on government initiatives to make college more affordable
AffrodableCollegesOnline.org's "Million Dollar Alumni Club" Rankings of Private Universities:
Harvey Mudd College
California Institute of Technology (CalTech)
Polytechnic Institute of New York University
Massachusetts Institute of Technology
Stevens Institute of Technology
Rose-Hulman Institute of Technology
Claremont McKenna College
Worcester Polytechnic Institute
Santa Clara University
Rensselaer Polytechnic Institute
University of Notre Dame
Carnegie Mellon University
University of Pennsylvania
Illinois Institute of Technology
Embry-Riddle Aeronautical University
Johns Hopkins University
Washington and Lee University
Milwaukee School of Engineering
Cooper Union for the Advancement of Science and Art
University of the Pacific