Ramapo College is one of the Top 50 ‘Return on Investment’ schools in the country, according to a new ranking put together by AffordableCollegesOnline.org.
According to an AC Online release, the ranking was put together in an attempt to reflect the bang for their buck college students are getting by comparing what they pay to go to school to how much money they make after graduation.
The Return on Investment is the, “incremental lifetime earnings by a graduate as a result of earning a college degree minus the cost of the education,” AC Online said in the release. “Incremental lifetime earnings is the amount of salary earned by a graduate over a 30-year period over and above the amount earned by the average worker with a high school diploma.”
On the national list of Affordable Colleges with a Big Return on Investment, Ramapo College in Mahwah was ranked Number 50. The website reported an average ROI of $224,300, and an average starting salary after graduation of $40,100.
The Georgia Institute of Technology topped the ranking, reporting an average ROI of $836K.
Despite Ramapo’s appearance on the list, the site ranked NJ as one of the most expensive in the nation in terms of college education costs.
According to AC Online’s ranking of the average college cost per student in each state, New Jersey ranked the fifth highest, with an average cost of over $11,500. It was beat out by only Illinois, Pennsylvania, Vermont, and New Hampshire.