Average 20-year ROI is nearly $700,000; in separate report, Forbes magazine names university as one of America’s Best Value Colleges
A Cal Poly education continues to be one of the best values among the nation’s top schools, PayScale.com has announced.
The university ranks 15th among the nation’s public universities and No. 32 among all institutions for return on tuition investment, according to a new listing from the online salary, benefits and compensation information company. Among public California institutions, Cal Poly is second in ROI behind UC Berkeley.
In addition, in a separate recent ranking, Forbes named Cal Poly as one of the 300 Best Value Colleges in the U.S.
The PayScale list includes the weighted total cost for a graduate based on in-state tuition rates along with the 20-year net return on investment.
For Cal Poly, the total cost is $96,300 (up from last year’s $93,200) and return on investment is $698,000 (up from $669,800 reported in 2015). For non-California residents, the total cost of getting a Cal Poly degree is $141,000.
“We know that industry values our graduates who, even in their first job, bring the technical expertise, know-how and leadership skills that employers desire,” said Cal Poly President Jeffrey D. Armstrong. “Cal Poly has always been a good value in preparing our students for rewarding careers. PayScale’s rankings show that Learn by Doing continues to pay dividends as our alums progress in their careers.”
The 2015 PayScale study looked at 962 public and private universities around the nation.
“For most people, college is one of the largest expenses they’ll ever take on, so it makes sense to think about it like any other financial investment,” PayScale said in releasing its annual update. “We created the College ROI Report to help students and their families understand the long-term implications of their decisions about school and major. We hope that with this kind of data, students can make smarter educational choices and avoid crippling debt.”
Cal Poly also rated well in various majors, including business, biological sciences, engineering and the social sciences.
Among computer science majors, the university was rated seventh — rising five spots from last year — for its return on investment. These graduates can expect $1.1 million over 20 years — highest among all Cal Poly degree holders — on an investment of $96,300. This is an increase of $121,000 from last year, PayScale reported. For non-California residents, that figure is $1,060,000 (No. 12) at a cost of $141,000.
Engineering schools remained at the top of PayScale’s 2016 ROI list. Six out of the top 10 colleges on the list are engineering schools. Cal Poly exceeded the average ROI of $756,000 for engineering schools.
For the university’s engineering majors, the 20-year return on investment increased more than $118,000 from last year to $928,000 — rising to No. 12 on the list from No. 40 in 2015. Students from out-of-state will see $883,000 over 20 years (rising to No. 29 from last year’s No. 60 spot).
In the Forbes ranking, Cal Poly is among the 300 Best Value Colleges that are worth the investment. In determining the list, the magazine sought to provide high school students and their families a list of schools that offer the most value for the dollar.
Cal Poly was the sixth best value among California public universities and ranked 54th overall among all U.S. schools. Five University of California campuses placed higher: Top-ranked UC Berkeley, UCLA (No. 4), UC San Diego (No. 5), UC Irvine (No. 10) and UC Santa Barbara (No. 25). Twenty-eight California public and private institutions made the list.
For more information on the PayScale annual rankings and to see the list, visit: http://www.payscale.com/college-roi/
For more details on the Forbes’ 2016 Best Value Colleges, visit:
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