An Unconventional Guide to Paying for College

How Higher Education Helps the Economy

How Higher Education Helps the Economy

Another great infographic from our friends over at Online Universities Resource.

The main metric in this infographic is Return on Investment or ROI. They used a recent study by PayScale to determine which colleges had the best ROI. This means that based on the amount you would have to pay for tuition, your ROI is the amount of financial reward that you would receive in return for your education. Translation? How good of a job you can get and keep over the course of your career!

We’ve talked before about how your job prospects and the ability to earn a competitive wage are the new standard for colleges and universities. When you sink $100,000 into your college education and then end up with no job prospects and student loan bills that you cannot pay, you not only hurt yourself but you become a drain on society and our government. Avoiding this at all cost should be your goal. You can do this by spending as little as possible on your college education, by finding the best job possible, or by doing both and keeping all of your options open.

The chart at the bottom is also very interesting. It looks at the current unemployment rates in America and the corresponding majors that those unemployed folks pursued while in college. Architecture and the Arts have taken a beating in recent years. Always good to think about these things before deciding what your major in college will be!

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8 Comments

  1. Hmmm very interesting! The return and the investment are interesting as well.

    • @Michelle — Thanks for stopping by. I love looking at infographics. They never cease to provide something interesting to talk about!

  2. Love the infographic! Though i’m sometimes skeptical on the value of higher education, it’s tough for me to stay that way for long.

    • @Jeff — I am with you. I don’t always see the benefit in it, but then other times I look back on my life and career and see that I would not have gotten anywhere close to where I am without my degree.

  3. I love that! I was especially thrilled to see my school – Duke – among the top ROIs. Another reason to be proud to be a Blue Devil!

    • @Elizabeth — Duke is an awesome school. My alma Mater is a fellow ACC School, so I don’t much care for Duke in sports…..but it is a great school and certainly work the investment to attend there!

  4. It would help the overall economy if everyone would look at ROI before deciding what to do. Not everyone can go to MIT or Harvard. ROI analysis pushes the different colleges to differentiate into different cost levels with different, fitting ROI.

    • @Van Beek — I think you are exactly right. It would help the economy because people would not be stuck with mounting debt and zero job prospects. Our state has actually pushed a resolution that mandates state colleges keep a certain job placement level to keep their current state funding levels. I love the idea personally.

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