NEW: Brown University Labeled Best Value of any Rhode Island College
Friday, April 13, 2012
That expensive Ivy League school on the East Side is also the best educational investment of any of Rhode Island’s four-year colleges and universities, according to a new survey.
Payscale.com, which ranked nearly 1,250 four-year schools throughout the United States, rated Brown University 23rd nationally, according to the website’s Return on Investment (ROI) metrics.
The findings are based on employees who possess bachelor’s degrees (no higher degrees, and careers involving law and medicine are not included) and are paid hourly or are on salary.
The variables include the school’s overall graduation rate, percentage of graduate who complete their degrees within four to six years, full-time and first-time undergraduates and percentage of them receiving grant aid, average amount of grant aid, total cost, weighted total cost for a graduate in 2011, net cost and weighted net cost for a 2011 graduate, total cash compensation, median pay, 30-year median pay for a 2011 bachelor’s graduate, weighted 34-36 year 75th percentile pay for a 2011 high school graduate, and type of school (public in-state, public out-of-state and private).
The ROI scores are based on investment in college and return from attending college.
With a 2011 total cost of $210,500 and a 30-year net ROI of $787,600, Brown grads have an annual ROI of 9.3 percent, according to Payscale’s statistics. With 45 percent of students receiving financial aid, and an average annual aid amount of $28,860, those students have a $900,000 30-year ROI and an annual ROI of 12.4 percent.
Harvey Mudd College, a liberal arts and engineering school in Claremont, Calif., topped the national list, followed by California Institute of Technology, Massachusetts Institute of Technology, Stanford University and Princeton University.
Providence College also made the top 100 schools nationally, ranked 84th.
Other Rhode Island schools on the list: Bryant University, 152nd; University of Rhode Island, 217th (in-state) and 268th (out-of-state); Rhode Island School of Design, 470th; Roger Williams University, 522nd; Salve Regina University, 569th; Rhode Island College, 903rd (in-state) and 977th (out-of-state); and Johnson & Wales University, 995th
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