As the class of 2012 prepares to graduate, another group of bright-eyed youths are anticipating beginning college life this fall. But many face the daunting challenge of affording it.
With the cost of a four-year degree escalating, many parents (and students) want to know they're getting good value for their education dollars.
The calculations are based on the average amount that alumni of their respective colleges earned working -- minus the total cost of college -- and the amount they would have earned as a high school graduate.So how do you know if you're getting a good return on your investment, or ROI? PayScale recently crunched the data of more than 850 colleges in the U.S., examining both in- and out-of-state tuition, when applicable, and what grads typically get back in lifetime earnings.
The result is a list of winners and losers -- and as you can see below, some of the 20 colleges with the lowest ROI have recognizable names. But with any list of winners and losers, those institutions that ranked at the bottom have their defenders, as comment posted on PayScale's site show.
One graduate of Savannah College of Art and Design, which finished dead last in PayScale's rankings with an ROI of -$189,000, said that he "wouldn't change a thing" about his educational experience.
"The skills that I learned through my degree program are incredibly valuable," said the student, who identified himself as Chris Brinlee Jr.
Others chimed in, arguing that PayScale's methodology is flawed. Noting that the survey multiplied ROI by the school's retention rate, "h.spaeth" argued that "It comes as no surprise then that all of the top schools for 'ROI' are private schools with high retention rates."
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