PayScale evaluates the value of an undergraduate degree
This month, PayScale announced the release of its 2010 College Return on Investment (ROI) Report. Examining about 25 million career paths and 651 undergraduate institutions, the report aims to discover the true value of a college degree in today's world.
The report shows that the California Institute of Technology is the private school with the highest investment return compared to other facilities that were studied. While attendees of this school will pay about $198,700 in tuition, students can expect to gain about $1,713,000 due to their degree in 30 years, creating a 12.2 percent annual ROI, according to PayScale.
The public university with the highest investment return this year is the University of California, Berkeley, the source reports. Last year, students paid the school about $110,000 in tuition, but in 30 years earned approximately $1,167,000. This accounts for a 12.9 percent annual ROI.
Other schools with high ROIs included Rhode Island School of Design, Babson College, Harvey Mudd College, Massachusetts Institute of Technology and Amherst College.
According to the Bureau of Labor Statistics, an individual who pursues a bachelor's degree from any school earns about $53,300 per year, on average.