Only 150 of 3500 U.S. Colleges Are Worth the Investment: Former Secretary of Education

[Creighton Duke]

Bennett assessed the “return on investment” for the 3500 colleges and universities in the country. He found that returns were positive for only 150 institutions. The top 10 schools ranked by Bennett as having the best "ROI" are below (for the full list he used, click here, and for the latest figures, click here):

1. Harvey Mudd College
   
2. California Institute of Technology
   
3. Massachusetts Institute of Technology (MIT)
   
4. Stanford University
   
5. Princeton University
   
6. Harvard University
   
7. Dartmouth College
   
8. Duke University
   
9. University of Pennsylvania
   
10. University of Notre Dame
    

http://www.payscale.com/college-education-value-2013

http://finance.yahoo.com/blogs/daily-ticker/only-150-3500-u-colleges-worth-investment-former-132020890.html?vp=1

[OH HSKR FAN]

Anybody can get into those top 10 schools.

[NUance]

Only 150 of 3500 U.S. Colleges Are Worth the Investment: Former Secretary of Education William Bennett

I'll bet dollars to donuts that William Bennett never got laid in college.

[tschu]

It really is true that most people are better off getting a sh**ty job at age 18 and putting as much as they can in an index fund or ETF or a retirement target fund. The lack of student loans and the extra ~5 years to accumulate interest ends up offsetting the potential income that they're squandering by not having a degree. Besides, a 23-yr-old with 5 years of work experience and a good work ethic can easily be earning more than a recent college grad with no experience. (field-dependent, of course).

 

They say you can earn $1million more in your life on average if you graduate college, but if you have $25,000 put away by the time you're 25, you're MILES ahead of a college graduate in terms of building wealth.

[NUance]

The thing is, I doubt that William Bennett normalized his analysis for intelligence, ambition, or family wealth. The kids who get degrees from those schools tend to be smarter and more driven than kids with degrees from lessor colleges. So they will make more money than the rest of us no matter where they go to school. Also, to pick up a degree from any of those schools, the kid is likely to come from a family with money. So they're starting out life in a first and goal situation. Instead of fielding a punt back at their own 20 yard line like the rest of us.

 

And speaking of colleges, do you know why William Bennett almost certainly did not take theses factors into consideration? Because he's a fricking UT Whorn, that's why.

[KJ.]

The thing is, I doubt that William Bennett normalized his analysis for intelligence, ambition, or family wealth. The kids who get degrees from those schools tend to be smarter and more driven than kids with degrees from lessor colleges. So they will make more money than the rest of us no matter where they go to school. Also, to pick up a degree from any of those schools, the kid is likely to come from a family with money. So they're starting out life in a first and goal situation. Instead of fielding a punt back at their own 20 yard line like the rest of us.

 

And speaking of colleges, do you know why William Bennett almost certainly did not take theses factors into consideration? Because he's a fricking UT Whorn, that's why.

Well said.

[killer cacti]

Clemson is in top 150!

[BigRedBuster]

I've seen studies like this before. I'll take the chance and send my kids to college.

 

The fact is though, most 18 year old kids that go get a job right out of HS aren't going to start saving right away anyway. Most are going to go through the typical screw off stage in life before they ever get serious about anything. As long as they are serious about school, they might as well be doing that screwing off while getting a degree.

 

It also highly depends on what field you go into. Obviously there are high paying fields that require a college degree.

[beanman]

I see we're 484th. Based on my experience, I'm not surprised. I didn't feel we were pushed hard at all in my degree, especially after talking about college year with all the Big 10 alum that I currently work with. But, I don't think that's impacted me much as I get higher appraisals every year than the vast majority of them and I find that good old-fashioned mid-western work ethic has been more important that the 99% of stuff I learned in college that I'll never use in industry.

[carlfense]

I see we're 484th. Based on my experience, I'm not surprised. I didn't feel we were pushed hard at all in my degree, especially after talking about college year with all the Big 10 alum that I currently work with. But, I don't think that's impacted me much as I get higher appraisals every year than the vast majority of them and I find that good old-fashioned mid-western work ethic has been more important that the 99% of stuff I learned in college that I'll never use in industry.

[NUinID]

You get out of college what you put into it. There are hundreds of thousands of Americans that went to colleges not in the top 150 and made very nice lives for themselves with the second rate education they got, me included Yeah, a Harvard education is worth way more than mine from Northwest Missouri State, but I guess My wife and I do all right and probably better than some people with a Harvard education.

[carlfense]

You get out of college what you put into it. There are hundreds of thousands of Americans that have went to colleges not in the top 150 and made very nice lives for themselves with the second rate education they got, me included Yeah, a Harvard education is worth way more than mine from Northwest Missouri State, but I guess My wife and I do all right and probably better than some people with a Harvard education.

This is absolutely correct but a lot of schools don't ask much of students. Only a handful of classes at UNL asked much of me (in 8 years) and I think that you'd have to actively try to fail out. That's not unique to UNL but in my experience (and in the few behind the scenes glances that I've gotten into the administration) there is plenty of room for improvement.

[tschu]

Yeah, UNL is insanely easy. And still has a really low graduation rate...lotta dumbasses out there.

[Creighton Duke]

Yeah, UNL is insanely easy. And still has a really low graduation rate...lotta dumbasses out there.

Many more factors than just intelligence going on here. Macro and micro economic pressures, bad "fit", etc.

[sd'sker]

They say you can earn $1million more in your life on average if you graduate college, but if you have $25,000 put away by the time you're 25, you're MILES ahead of a college graduate in terms of building wealth.

this has always seemed more like a correlation rather than a causation. if you have the ambition and social mobility to go to college and graduate, you are probably going to earn more than those who did not. basically, people who graduate from college are destined to earn more than those who do not; not because of what they gained from graduating college, but because of what they had that allowed them to graduate college.

 

it is too bad so many jobs require a college degree rather than letting someone get their foot in the door and work their way up. in that regard, trade schools are the way to go.

 

however, i believe i learned a lot from my college experience. not necessarily because of what i learned in the classroom, but because of everything i learned outside of the classroom.