10 Colleges With the Best Return on Investment in 2023

Investing four (or more) years and a ton of money into a college education should pay off. Here are 10 schools that can give you a solid return on your investment.

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Updated November 22, 2023

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Getting a degree doesn’t guarantee you’ll land a job that utilizes your education or even pays enough to cover your student loans.
That’s why it’s important to pick a college that can lead to a good return on investment (ROI).
By taking into account net costs, expected graduate earnings, and the time it’ll take to recoup expenses, we’ve found 10 schools that offer the best ROI.

The “Is college worth it?” calculation has gotten trickier in recent years. On the one hand, the answer is still clearly yes — a college degree is a requirement for most entry-level jobs, and it tends to be even more crucial for getting promotions and climbing the ladder.

On the other hand, the investment (which includes about four years of your life and so much money) doesn’t always pay off. According to the Federal Reserve Bank of New York, about 40% of recent college grads ages 22 to 27 are currently in jobs that don’t require a college degree.

Those numbers may make attending school seem risky — you don’t want to end up trying to pay down college loans without a college paycheck, right?

Picking a college shouldn’t feel like some kind of high-stakes gamble. That’s where we come in — to help you figure out which schools can give you the absolute best return on your investment.

Now on WGN Radio: Listen to our analysis of the best ROI colleges

What Is a Good ROI for College?

There are a lot of factors to consider when calculating the potential ROI of a college:

Opportunity costs: If you spend four (or more) years focusing on school, that’s four (or more) years you aren’t focusing on other enterprises. This means you’re potentially facing an extended period of lost wages, savings, and/or career progress.
Pro tip: One way to minimize your opportunity costs is to pick a flexible and affordable online program that allows you to work and study at the same time.
Tuition costs: The less money you spend on school, the less debt you’ll have to pay off later. Prioritize good schools — accredited institutions with solid student outcomes — that keep costs low and offer a lot of financial aid.
Pro tip: Schools that offer more grant-based aid instead of loan-based aid are helping cut your costs a lot — instead of kicking the can down the road for you to pay back loans later (with interest), grants are essentially free money.
Student outcomes: You want to land a good job quickly, pay off your student loans, and move on with your life. This means, in some cases, relatively expensive schools that report high-earning graduates with strong job placement rates might be a better choice than schools with cheaper tuition but less impressive student outcomes.

Good news: We’ve already done all the homework for you by ranking schools with the very best returns on investment in 2023.

Read the Video Transcript

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The 10 Best ROI Colleges of 2023

The sooner you can recoup the costs of your education, the quicker you’ll start to see a positive return on your investment. To put together this ranking, we considered the cost of college attendance, average federal grant aid awarded, and future expected earnings to figure out which schools have the best payoff.

Here are 10 stand-out colleges that basically pay for themselves in no time:

Georgia Institute of Technology

Atlanta, GA4 yearCampus + Online

$10,258

Avg. Undergrad Tuition, In-State

$31,370

Avg. Undergrad Tuition, Out-of-state

21%

Acceptance Rate

49%

Online Enrollment

Avg. Grad Tuition, In-State

$14,064

Avg. Grad Tuition, Out-of-state

$29,140

Retention Rate

97%

Students Enrolled

36,302

Institution Type

Public

Accreditation

Yes

Avg. Undergrad Tuition, In-State

$10,258

Avg. Undergrad Tuition, Out-of-state

$31,370

Georgia Institute of Technology

Atlanta, GA4 yearCampus + Online

Avg. Undergrad Tuition, In-State

$10,258

Avg. Undergrad Tuition, Out-of-state

$31,370

Acceptance Rate

21%

Online Enrollment

49%

Avg. Grad Tuition, In-State

$14,064

Avg. Grad Tuition, Out-of-state

$29,140

Retention Rate

97%

Students Enrolled

36,302

Institution Type

Public

Accreditation

Yes

Colorado School of Mines

Golden, CO4 yearCampus + Online

$16,650

Avg. Undergrad Tuition, In-State

$37,350

Avg. Undergrad Tuition, Out-of-state

53%

Acceptance Rate

Online Enrollment

Avg. Grad Tuition, In-State

$16,650

Avg. Grad Tuition, Out-of-state

$37,350

Retention Rate

92%

Students Enrolled

6,628

Institution Type

Public

Accreditation

Yes

Avg. Undergrad Tuition, In-State

$16,650

Avg. Undergrad Tuition, Out-of-state

$37,350

Colorado School of Mines

Golden, CO4 yearCampus + Online

Avg. Undergrad Tuition, In-State

$16,650

Avg. Undergrad Tuition, Out-of-state

$37,350

Acceptance Rate

53%

Online Enrollment

Avg. Grad Tuition, In-State

$16,650

Avg. Grad Tuition, Out-of-state

$37,350

Retention Rate

92%

Students Enrolled

6,628

Institution Type

Public

Accreditation

Yes

Golden Gate University

San Francisco, CA4 yearCampus + Online

$15,840

Avg. Undergrad Tuition, In-State

$15,840

Avg. Undergrad Tuition, Out-of-state

N/A

Acceptance Rate

67%

Online Enrollment

Avg. Grad Tuition, In-State

$19,620

Avg. Grad Tuition, Out-of-state

$19,620

Retention Rate

N/A

Students Enrolled

2,432

Institution Type

Private

Accreditation

Yes

Avg. Undergrad Tuition, In-State

$15,840

Avg. Undergrad Tuition, Out-of-state

$15,840

Golden Gate University

San Francisco, CA4 yearCampus + Online

Avg. Undergrad Tuition, In-State

$15,840

Avg. Undergrad Tuition, Out-of-state

$15,840

Acceptance Rate

N/A

Online Enrollment

67%

Avg. Grad Tuition, In-State

$19,620

Avg. Grad Tuition, Out-of-state

$19,620

Retention Rate

N/A

Students Enrolled

2,432

Institution Type

Private

Accreditation

Yes

Missouri University of Science and Technology

Rolla, MO4 yearCampus + Online

$9,120

Avg. Undergrad Tuition, In-State

$27,921

Avg. Undergrad Tuition, Out-of-state

79%

Acceptance Rate

22%

Online Enrollment

Avg. Grad Tuition, In-State

$10,452

Avg. Grad Tuition, Out-of-state

$29,558

Retention Rate

82%

Students Enrolled

8,088

Institution Type

Public

Accreditation

Yes

Avg. Undergrad Tuition, In-State

$9,120

Avg. Undergrad Tuition, Out-of-state

$27,921

Missouri University of Science and Technology

Rolla, MO4 yearCampus + Online

Avg. Undergrad Tuition, In-State

$9,120

Avg. Undergrad Tuition, Out-of-state

$27,921

Acceptance Rate

79%

Online Enrollment

22%

Avg. Grad Tuition, In-State

$10,452

Avg. Grad Tuition, Out-of-state

$29,558

Retention Rate

82%

Students Enrolled

8,088

Institution Type

Public

Accreditation

Yes

Augusta University

Augusta, GA4 yearCampus + Online

$6,892

Avg. Undergrad Tuition, In-State

$22,270

Avg. Undergrad Tuition, Out-of-state

76%

Acceptance Rate

38%

Online Enrollment

Avg. Grad Tuition, In-State

$5,504

Avg. Grad Tuition, Out-of-state

$18,772

Retention Rate

72%

Students Enrolled

8,650

Institution Type

Public

Accreditation

Yes

Avg. Undergrad Tuition, In-State

$6,892

Avg. Undergrad Tuition, Out-of-state

$22,270

Augusta University

Augusta, GA4 yearCampus + Online

Avg. Undergrad Tuition, In-State

$6,892

Avg. Undergrad Tuition, Out-of-state

$22,270

Acceptance Rate

76%

Online Enrollment

38%

Avg. Grad Tuition, In-State

$5,504

Avg. Grad Tuition, Out-of-state

$18,772

Retention Rate

72%

Students Enrolled

8,650

Institution Type

Public

Accreditation

Yes

California Polytechnic State University

San Luis Obispo, CA4 yearCampus + Online

$5,742

Avg. Undergrad Tuition, In-State

$17,622

Avg. Undergrad Tuition, Out-of-state

28%

Acceptance Rate

Online Enrollment

Avg. Grad Tuition, In-State

$7,176

Avg. Grad Tuition, Out-of-state

$16,680

Retention Rate

94%

Students Enrolled

21,426

Institution Type

Public

Accreditation

Yes

Avg. Undergrad Tuition, In-State

$5,742

Avg. Undergrad Tuition, Out-of-state

$17,622

California Polytechnic State University

San Luis Obispo, CA4 yearCampus + Online

Avg. Undergrad Tuition, In-State

$5,742

Avg. Undergrad Tuition, Out-of-state

$17,622

Acceptance Rate

28%

Online Enrollment

Avg. Grad Tuition, In-State

$7,176

Avg. Grad Tuition, Out-of-state

$16,680

Retention Rate

94%

Students Enrolled

21,426

Institution Type

Public

Accreditation

Yes

South Dakota School of Mines and Technology

Rapid City, SD4 yearCampus + Online

$7,610

Avg. Undergrad Tuition, In-State

$11,920

Avg. Undergrad Tuition, Out-of-state

77%

Acceptance Rate

Online Enrollment

Avg. Grad Tuition, In-State

$7,920

Avg. Grad Tuition, Out-of-state

$15,900

Retention Rate

78%

Students Enrolled

2,525

Institution Type

Public

Accreditation

Yes

Avg. Undergrad Tuition, In-State

$7,610

Avg. Undergrad Tuition, Out-of-state

$11,920

South Dakota School of Mines and Technology

Rapid City, SD4 yearCampus + Online

Avg. Undergrad Tuition, In-State

$7,610

Avg. Undergrad Tuition, Out-of-state

$11,920

Acceptance Rate

77%

Online Enrollment

Avg. Grad Tuition, In-State

$7,920

Avg. Grad Tuition, Out-of-state

$15,900

Retention Rate

78%

Students Enrolled

2,525

Institution Type

Public

Accreditation

Yes

New Jersey Institute of Technology

Newark, NJ4 yearCampus + Online

$14,448

Avg. Undergrad Tuition, In-State

$30,160

Avg. Undergrad Tuition, Out-of-state

73%

Acceptance Rate

31%

Online Enrollment

Avg. Grad Tuition, In-State

$20,624

Avg. Grad Tuition, Out-of-state

$30,540

Retention Rate

88%

Students Enrolled

11,518

Institution Type

Public

Accreditation

Yes

Avg. Undergrad Tuition, In-State

$14,448

Avg. Undergrad Tuition, Out-of-state

$30,160

New Jersey Institute of Technology

Newark, NJ4 yearCampus + Online

Avg. Undergrad Tuition, In-State

$14,448

Avg. Undergrad Tuition, Out-of-state

$30,160

Acceptance Rate

73%

Online Enrollment

31%

Avg. Grad Tuition, In-State

$20,624

Avg. Grad Tuition, Out-of-state

$30,540

Retention Rate

88%

Students Enrolled

11,518

Institution Type

Public

Accreditation

Yes

Oregon Institute of Technology

Klamath Falls, OR4 yearCampus + Online

$8,775

Avg. Undergrad Tuition, In-State

$27,927

Avg. Undergrad Tuition, Out-of-state

97%

Acceptance Rate

30%

Online Enrollment

Avg. Grad Tuition, In-State

$12,108

Avg. Grad Tuition, Out-of-state

$20,325

Retention Rate

76%

Students Enrolled

5,313

Institution Type

Public

Accreditation

Yes

Avg. Undergrad Tuition, In-State

$8,775

Avg. Undergrad Tuition, Out-of-state

$27,927

Oregon Institute of Technology

Klamath Falls, OR4 yearCampus + Online

Avg. Undergrad Tuition, In-State

$8,775

Avg. Undergrad Tuition, Out-of-state

$27,927

Acceptance Rate

97%

Online Enrollment

30%

Avg. Grad Tuition, In-State

$12,108

Avg. Grad Tuition, Out-of-state

$20,325

Retention Rate

76%

Students Enrolled

5,313

Institution Type

Public

Accreditation

Yes

#10

Stanford University

Stanford, CA4 yearCampus + Online

$52,857

Avg. Undergrad Tuition, In-State

$52,857

Avg. Undergrad Tuition, Out-of-state

Acceptance Rate

Online Enrollment

Avg. Grad Tuition, In-State

$52,479

Avg. Grad Tuition, Out-of-state

$52,479

Retention Rate

99%

Students Enrolled

17,249

Institution Type

Private

Accreditation

Yes

Avg. Undergrad Tuition, In-State

$52,857

Avg. Undergrad Tuition, Out-of-state

$52,857

Stanford University

Stanford, CA4 yearCampus + Online

Avg. Undergrad Tuition, In-State

$52,857

Avg. Undergrad Tuition, Out-of-state

$52,857

Acceptance Rate

Online Enrollment

Avg. Grad Tuition, In-State

$52,479

Avg. Grad Tuition, Out-of-state

$52,479

Retention Rate

99%

Students Enrolled

17,249

Institution Type

Private

Accreditation

Yes

Note: The tuition and federal grant aid data for our school rankings comes from the National Center for Education Statistics. Graduate earnings data is sourced from the U.S. Department of Education’s College Scorecard.