Lawrence Technological University has moved up to the top 7 percent of colleges in the country for the increased earning power generated by a college bachelor’s degree – known as return on investment (ROI) – according to the third annual survey by Payscale, a Seattle-based compensation data firm.
Payscale’s 2013 college education ROI rankings were determined by averaging the earnings of a college’s graduates over 30 years in 2012 dollars and then subtracting the 2012 cost of a bachelor’s degree at the college and the average 30-year earnings of contemporaries who started working right after high school.
The net return on investment on an LTU bachelor’s degree over 30 years was $933,300, which was in the top 7 percent of more than a thousand colleges in the nationwide survey.
Lawrence Tech’s 30-year ROI was better than the results for the other Detroit-area colleges covered by the survey.
“Students and their families want to know that their college education will pay off in their careers,” said LTU President Virinder Moudgil. “We’re pleased that the return on tuition investment at Lawrence Technological University has been consistently strong and reflects the type of high-paying, high-value professions that LTU graduates typically aspire to.”
The survey was based on Payscale’s database of online pay reports for more than a million college graduates nationwide and information from the Integrated Postsecondary Education Data System.
For the methodology and complete results from the survey, go to www.payscale.com/college-education-value-2013.