Since 1980, the cost of college, including tuition and fees, has risen by an average of 1,200%. This has priced many students out of the ability to afford higher education unless they take out student debt. That debt has become a burden for many. Student loans taken out in 2020 averaged almost $30,000, according to U.S. News.
Student debt in the United States totals $1.75 trillion, and there are over 43 million borrowers. President Biden has made an ongoing effort to aid students with high debt levels. Student loan forgiveness could be as high as $50,000 per person.
The burdensome costs have caused many young adults to reconsider whether they should go to college at all. It could take years, or longer, to pay back student loans, crippling the ability to buy a home and shaving discretionary income. CNBC recently reported: “A recent survey of high school students found that the likelihood of attending a four-year school sank nearly 20% in the last eight months — down to 53%, from 71%…”. Indeed, application levels have dropped at a number of colleges.
The recently released Best Value Colleges report from college-comparison website GradReports included reviews 1,782 colleges with the aim of matching low tuition with high post-graduate earnings (what it calls “outcomes”).
Notably, 85% of colleges that made its list of 111 were public schools. Of the private nonprofit schools, 75% are primarily online.
The report rank is based on tuition and salary, which are used to create a “salary score,” with the highest possible value at $100.
The school that topped the list was Thomas Edison State University in Trenton, New Jersey. It had a tuition of $7,926 and a score of $94.20. It is primarily an online college. Next on the list was one of the most highly regarded colleges in the country. The University of California-Berkeley has a score of $93.80 against a tuition of $14,253.
These are the 10 colleges that offer the highest salary for the lowest tuition:
|Thomas Edison State University||$7,926||94.20|
|University of California – Berkeley||$14,253||93.80|
|California Polytechnic State University-San Luis Obispo||$9,943||90.16|
|American Public University System||$7,324||89.54|
|The College of New Jersey||$16,923||89.07|
|Colorado State University Global||$8,400||88.90|
|California State University-East Bay||$7,000||88.36|
|San Jose State University||$7,852||87.70|
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