Some College Degrees Have a Higher Return than Others

For many young Americans, attending college is a core part of the American Dream. It isn’t just about bragging rights around the water cooler about which college is your alma mater and what sports team you support. The numbers don’t lie – college graduates earn $1 million more in salaries over their lifetime than those with only a high school diploma. 

That’s a gap of more than $17,000 every year. That can have a significant effect on your lifestyle now and in retirement.

It’s no wonder then that so many students feel a student loan is worthwhile. Even though they’re saddled with debt from the start of their careers, they expect to earn so much more with that degree that they feel it’s worthwhile to take on a student loan.

So any college degree boosts your earning power, but some schools are considered better than others based on several factors.

 

Top 10 Colleges in the U.S. that Pay Off the Most

 

Private Schools                                            Public Schools

Stanford                                                         University of Washington-Seattle

Princeton                                                       University of Washington-Bothell

University of Chicago                                   Massachusetts Maritime Academy

California Institute of Technology                University of Michigan – Ann Arbor

Harvard                                                          Georgia Institute of Technology

 

This list may surprise you. There could be some schools you had not even considered before.

Categorizing the schools from a different angle, the 2019-2020 PayScale College Salary Report ranks schools and degrees for top earnings. [5] The rankings come from the alumni salary data of 3.5 million respondents, representing more than 4,000 colleges and universities across the U.S.

 

Highest Paying Bachelor’s Degrees                           Highest Paying Associates Degrees

$158,200 – Harvey Mudd College                                $90,600 – Helene Fuld College of Nursing

$155,200 – Massachusetts Institute of Technology      $90.400 – Pacific Union College

$154,100 – Samuel Merritt University                         $85,400 – Laboure College

$152,800 – United States Naval Academy                    $82,800 – Phillips School of Nursing Mount Sinai

$151,600 – California Institute of Technology             $80,900 – Lawrence Memorial School of
                                                                                       Nursing

 

Before you shell out the cash for a degree, spend some time looking at all the various options. The school you choose should not be about four years of fun and festivities. Pick one that will give you the greatest advantage for the rest of your life.

 

 

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