For the first time, Ramapo College was ranked as one of New Jersey’s highest return on investment colleges by AffordableCollegesOnline.org. As a “High ROI College,” schools must “have low tuition and fees combined with top 30-year earnings,” the site reported.
Ramapo was ranked 10th out of 24 New Jersey institutions that earned a spot on the list. In all, Affordable Colleges Online analyzed data from 162 schools in the state.
“We appreciate the recognition and believe a Ramapo education is a tremendous investment,” College spokesperson Anna Farneski said. “We appreciate anything that highlights the value Ramapo College has to offer prospective students.”
In order to be determined a “High ROI College,” schools must be fully accredited four-year degree granting institutions, and can be either public or private universities. Data for the ranking was provided from the National Center for Education Statistics, the Integrated Post-Secondary Education Data System, the Carnegie Foundation and PayScale.com. Other criteria that was factored in the analysis included the College’s net tuition prices and graduates’ average starting salaries.
The 2013 ranking is led by Stevens Institute of Technology, Princeton University and New Jersey Institute of Technology. Compared to similarly sized public institutions, Ramapo falls in between The College of New Jersey (ranked fifth) and Richard Stockton College of New Jersey (ranked 22nd).
Affordable Colleges Online found Ramapo’s return on investment to be $690,000. On a national scale, Georgia Institute of Technology in Atlanta tops the list of 50 affordable colleges with the highest returns with a $836,000 ROI.