Colleges With the Best Return on Investment

These four-year colleges have a 40-year net present value of more than $1.8 million.

Here are schools that offer the best returns.

Students and families are increasingly asking whether college is worth the cost. With tuition and fees at some colleges topping $65,000 per year, families seeking to understand the short-term and long-term value of a degree can turn to 2022 research from the Georgetown University Center on Education and the Workforce, which lists the return on investment for 4,500 colleges. In the long term, colleges that award bachelor’s degrees offer the highest returns, while in the short term, community colleges and certificate programs offer better returns. The following list presents in ascending order the 20 four-year schools with the highest 40-year net present value, a metric that compares the cost of college to a student’s potential future earnings. It includes only institutions ranked among the U.S. News Best National Universities, which are committed to research and offer undergraduate majors in addition to master’s and doctoral programs, and Best National Liberal Arts Colleges, which emphasize undergraduate study and award a majority of degrees in liberal arts fields.

Claremont McKenna College (National Liberal Arts Colleges)

The return on investment of a degree from Claremont McKenna College in California is $1,889,000 after 40 years. The school is a part of the Claremont Colleges consortium, so students can take classes at any member institution. Tuition and fees at Claremont McKenna College were $60,715 in 2022-2023, and among 2021 graduates who borrowed to pay for college, the average total indebtedness was $17,774.

U.S. News National Liberal Arts Colleges rank: 9 (tie)

Dartmouth College (National Universities)

A bachelor’s degree from Dartmouth College has a net present value of $1,895,000 after 40 years. The New Hampshire college charged $62,430 for tuition and fees in 2022-2023, and borrowers in the graduating class of 2021 left with an average total of $23,217 in debt.

U.S. News National Universities rank: 12

Yale University (National Universities)

Yale University in Connecticut offers students who earn a bachelor’s degree a return on investment of $1,917,000 after 40 years, according to Georgetown researchers. The university charged $62,250 for tuition and fees in 2022-2023, and student loan borrowers who graduated in 2021 left with an average of $14,383 in debt.

U.S. News National Universities rank: 3 (tie)

Colorado School of Mines (National Universities)

Though not as highly ranked by U.S. News as the other institutions on this list, Colorado School of Mines offers one of the highest returns on investment among colleges reviewed. After 40 years, a bachelor’s degree from this school has a net present value of $1,922,000. The cost of tuition and fees was $19,538 for in-state students and $40,838 for out-of-state students in 2022-2023, and the average total indebtedness among borrowers in the 2021 graduating class was $30,680.

U.S. News National Universities rank: 89 (tie)

Boston College (National Universities)

A bachelor’s degree from Boston College boasts a net present value of $1,924,000 after 40 years. The Massachusetts college charged $64,176 for tuition and fees in 2022-2023. The average total indebtedness among borrowers in the 2021 graduating class was $23,075.

U.S. News National Universities rank: 36 (tie)

Santa Clara University (National Universities)

Santa Clara University offers bachelor’s degree-holders a return on investment of $1,940,000 after 40 years. Tuition and fees at the California college were $57,534 in 2022-2023, and the average total indebtedness of those in the 2021 graduating class who borrowed to pay for college was $23,847.

U.S. News National Universities rank: 55 (tie)

Columbia University (National Universities)

In the long term, researchers calculated the return on investment of a degree from Columbia University in New York to be $1,946,000 after 40 years. Tuition and fees cost $65,524 in 2022-2023, and the median federal loan debt among borrowers who completed an undergraduate degree at this private school in 2021 was $21,500.

U.S. News National Universities rank: 18 (tie)

California Institute of Technology (National Universities)

A bachelor’s degree from the California Institute of Technology has a net present value of $2,490,000 after 40 years. Tuition and fees at Caltech were $60,864 in 2022-2023, and the average total indebtedness among student loan borrowers in the 2021 graduating class was $16,787.

U.S. News National Universities rank: 9

Harvey Mudd College (National Liberal Arts Colleges)

Among liberal arts colleges, Harvey Mudd College tops the charts when it comes to return on investment. A degree from this California college boasts a net present value of $2,370,000 after 40 years. Tuition and fees cost $62,817 in 2022-2023, and student loan borrowers in the 2021 graduating class had $27,423 in debt, on average.

U.S. News National Liberal Arts Colleges rank: 29 (tie)

University of Pennsylvania (National Universities)

A bachelor’s degree from the University of Pennsylvania has a net present value of $2,211,000 after 40 years, according to the Georgetown report. The private university charged $63,452 for tuition and fees in 2022-2023, and student loan borrowers in the 2021 graduating class had an average of $26,481 in total debt.

U.S. News National Universities rank: 7 (tie)

Stanford University (National Universities)

The return on investment from a degree at Stanford University in California has a net present value of $2,200,000 after 40 years. In 2022-2023, tuition and fees cost $56,169. Students in the 2021 graduating class who borrowed to pay for college had an average total indebtedness of $23,318.

U.S. News National Universities rank: 3 (tie)

Princeton University (National Universities)

The return on investment of a bachelor’s degree from Princeton University in New Jersey is $2,126,000 after 40 years. Tuition and fees were $57,410 in 2022-2023. The average indebtedness of 2021 graduates was far lower compared to other schools on this list at $10,299.

U.S. News National Universities rank: 1

Colleges that pay off in the long term

National Universities with the best return on investment:

• California Institute of Technology
• Massachusetts Institute of Technology
• University of Pennsylvania
• Stanford University
• Princeton University
• Carnegie Mellon University
• Stevens Institute of Technology
• Georgetown University
• Lehigh University
• Duke University
• Rensselaer Polytechnic Institute
• Georgia Institute of Technology
• Columbia University
• Santa Clara University
• Boston College
• Colorado School of Mines
• Yale University
• Dartmouth College

National Liberal Arts Colleges with the best return on investment:

• Harvey Mudd College
• Claremont McKenna College