New Jersey Universities Recommended for a High Return on Investment
Attending college is more expensive than ever, and there are numerous colleges and universities in New Jersey that offer an excellent education. There’s the old saying, “You have to spend money to make money, so the question is, which ones offer the highest return on investment or ROI? A college education’s return on investment refers to the financial benefits we get from a college degree. It takes into account the costs associated with obtaining a degree, like tuition fees, living expenses, and money that someone could be making while attending college. Then it compares them to the potential income that someone can make once they graduate.
According to an article in Philly Burbs, a degree from the top colleges on the “best ROI list” earned grads up to two and a half million dollars over a forty-year period. Out of all of the colleges on the list, many of them are found right here in New Jersey, and some are towards the top of the list.
These schools include Princeton University with a forty-year ROI over one and a half million dollars. The same is true for the Stevens Institute of Technology in Hoboken, NJ. Just under one and a half million is the New Jersey Institute of Technology in Newark, NJ. There are several other New Jersey schools that have an ROI of over a million dollars including, “Rutgers University, The College of New Jersey, Seton Hall University, Ramapo College, Drew University, Montclair State University, Rowan University, Fairleigh Dickinson University, Rider University, and Monmouth University.” It’s reassuring for me that one of my three children will be attending Rider in the fall.
One of the key factors that contribute to the return on investment of a college education is higher earning potential. On average, individuals with a college degree earn higher salaries compared to those without a degree. It’s been shown that individuals with a bachelor’s degree have higher lifetime earnings than those with only a high school diploma.
Another factor is expanded career opportunities: A college education can open doors to a wider range of career opportunities. It’s no secret that many jobs if not most require a college degree.
Then there’s job market stability. When the economy isn’t doing well and unemployment is on the rise, people with a higher level of education tend to have a better shot at finding employment.
Attending college also gives you more networking opportunities. You build relationships with peers, professors, and alumni, and these connections can lead to job referrals and better access to job opportunities.
It’s good to know that if you or your child is attending college in New Jersey, there’s a very good chance that the money invested will most likely pay dividends in the future.
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