Top 20 Colleges Worth the Cost: Princeton Review
Which colleges have the best return on investment, worth the cost that can top $200,000 over four years without financial aid? The Princeton Review tackles that question in its latest edition — its fourth — of "Colleges that Pay You Back: The 200 Schools That Give You the Best Bang for Your Tuition Buck" and highlights the real costs of college. (Related: 13 Public Colleges With the Best ROI: Princeton Review) The guide rates the ROIs of schools based on more than 40 factors, including the cost of attendance, availability of financial aid — both need- and merit-based — academic standing and median starting and mid-career salaries for graduates. Surveys of students, alumni and the institutions themselves are used to gather the data. PayScale.com provides the starting and mid-career salaries of graduates based on data they collect from alumni. Students are asked to rate their school's career services, opportunities for internships and experiential learning and the strength of the alumni network. Alumni are asked about whether their work makes the world a better place. The 200 colleges in this reoport "offer stellar academics, generous aid awards to students with need and/or merit and provide all of their undergrads with career services from day one plus a lifetime of alumni connections," said Robert Franek, the report's lead author and editor-in-chief of The Princeton Review. We highlight the schools that placed in the top 20 for ROI ratings from The Princeton Review and include some pertinent data that can help high school seniors and their families when considering college application choices. Seventeen are nonprofit private colleges; three are public institutions. Many have need-blind admission policies, meaning that do not consider the need for financial aid when choosing which students to accept, and several don't expect any contributions from families with annual incomes under about $60,000 or $65,000. Others limit contributions when family income is about double that amount. Some offer only need-based aid; others offer both need-based and merit-based aid. The $200,000-plus sticker price for many of these top undergraduate program is not necessarily what students and their families pay. 
20. Duke University Durham, North Carolina ROI Rating: 94 Cost of tuition, room and board, fees: $68,208 Average undergrad need-based financial aid: $44,725 35% of undergrads borrow to pay for school Average cumulative debt: $19,104 86% graduate in 4 years; 95% graduate in 6 years Starting median salary: $65,300 Mid-career median salary: $134,400 Families with incomes under $60,000 are not required to make a parental contribution and the school offers capped loans for eligible families with incomes above $100,000. 19. Brown University Providence, Rhode Island ROI Rating: 94 Cost of tuition, room and board, fees: $67,439 Average undergrad need-based financial aid: $44,105 37% of undergrads borrow to pay for school Average cumulative debt: $23,810 84% graduate in 4 years; 96% graduate in 6 years Starting median salary: $63,000 Mid-career median salary: $132,000 About 94% of needy students receive need-based scholarships or grants. 
18. Wabash College Crawfordsville, Indiana ROI Rating: 94 Cost of tuition, room and board, fees: $62,100 Average undergrad need-based financial aid: $25,192 % undergrads who borrow to pay for school: N/A 64% graduate in 4 years; 71% graduate in 6 years Starting median salary: $58,900 Mid-career median salary: $124,400 The school offers several kinds of scholarships plus fine arts and alumni awards, which range from $60,000 to full tuition over four years, plus merit-based scholarships. 17. Rice University Houston, Texas ROI Rating: 94 Cost of tuition, room and board, fees: $57,668 Average undergrad need-based financial aid: $36,772 27% of undergrads borrow to pay for school Average cumulative debt: $22,497 83% graduate in 4 years; 93% graduate in 6 years Starting median salary: $65,700 Mid-career median salary: $130,200 The university offers several numerous merit-based scholarships and all applicants are automatically considered. 
16. Columbia University New York, New York ROI Rating: 94 Cost of tuition, room and board, fees: $70,826 Average undergrad need-based financial aid: $50,733 25% of undergrads borrow to pay for school Average cumulative debt: $23,463 96% graduate in 6 years; 4-year rate N/A Starting median salary: $66,000 Mid-career median salary: $124,700 15. Georgia Institute of Technology Atlanta, Georgia ROI Rating: 95 Cost of tuition, room and board, fees: $25,852 for in-state; $46,044 out-of-state Average undergrad need-based financial aid: $11,070 39% of undergrads borrow to pay for school Average cumulative debt: $32,169 41% graduate in 4 years; 86% graduate in 6 years Starting median salary: $68,100 Mid-career median salary: $128,700 The Georgia Institute of Technology is a public institution that provides numerous need-based and merit-based scholarship s and grants. Its Center for Career Discovery and Development helps place students in competitive jobs. 
14. University of California, Berkeley Berkeley, California ROI Rating: 95 Cost of tuition, room and board, fees: $29,551 in-state; $56,233 Average undergrad need-based aid: $19,087 37% of undergrads borrow to pay for school Average cumulative debt: $18,789 76% graduate in 4 years; 92% graduate in 6 years Starting median salary: $65,400 Mid-career median salary: $130,100 This public institution offers several scholarship programs and award amounts are often based on financial need. 13. University of Virginia Charlottesville, Virginia ROI Rating: 95 Cost of tuition, room and board, fees: $26,576 in-state; $56,723 out-of-state Average undergrad need-based financial aid: $20,980 33% undergrads borrow to pay for school Average cumulative debt: $24,598 88% graduate in 4 years; 94% graduate in 6 years Starting median salary: $59,500 Mid-career median salary: $118,400 UVA has one of the largest per-capita endowments of any public university. About half its undergraduates receive some financial aid and caps are set on need-based loans for middle income families. 
12. Amherst College Amherst, Massachusetts ROI Rating: 95 Cost of tuition, room and board, fees: $68,500 Average undergrad need-based financial aid: $50,380 22% of undergrads borrow to pay for school Average cumulative debt: $18,662 86% graduate in 4 years; 93% graduate in 6 years Starting median salary: $60,200 Mid-career median salary: $122,800 Financial aid is delivered only through scholarships and grants, not loans that have to be repaid, Admissions are need-blind. It's possible to graduate from Amherst with no debt. 11. Vanderbilt University Nashville, Tennessee ROI Rating: 95 Cost of tuition, room and board, fees: $63,248 Average undergrad need-based financial aid: $41,331 % undergrads who borrow to pay for school: N/A 87% graduate in 4 years; 92% graduate in 6 years Starting median salary: $61,100 Mid-career median salary: $116,000 The university distributes more than $42 million in annual financial aid and has pledged to meet a family's demonstrated financial need with grants, not loans. 
10. Harvard College Cambridge, Massachusetts ROI Rating: 96 Cost of tuition, room and board, fees: $63,025 Average undergrad need-based financial aid: $48,598 % undergrads who borrow to pay for school: N/A Average cumulative debt: $16,702 86% graduate in 4 years; 97% graduate in 6 years Starting median salary: $71,200 Mid-career median salary: $147,500 About 90% of students who request financial aid qualify and those families receive 100% of their financial need. The school asks that families contribute somewhere between zero and 10% of their annual income but if their income is under $65,000 they likely won't pay a dime. 9. Yale University New Haven, Connecticut ROI Rating: 96 Cost of tuition, room and board, fees: $66,900 Average undergrad need-based financial aid: $47,960 17% of undergrads borrow to pay for school Average cumulative debt: $15,521 88% graduate in 4 years; 97% graduate in 6 years Starting median salary: $66,800 Mid-career median salary: $132,100 Yale spends more than $100 million annually on financial aid, has a need-blind admissions policy and guarantees to meet 100% of each applicant's demonstrated need. The school has only need-based scholarships, no merit-based or athletic scholarships. 
8. Williams College ROI Rating: 97 Cost of tuition, room and board, fees: $67,700 Average undergrad need-based financial aid: $48,885 43% of undergrads borrow to pay for school Average cumulative debt: $15,496 86% graduate in 4 years; 94% graduate in 6 years Starting median salary: $62,000 Mid-career median salary: $138,400 The school's $2.5 billion-plus endowment allows it to meet 100% of student's demonstrated need. All financial aid is based purely on need and admissions are need-blind. 7. Dartmouth College ROI Rating: 97 Cost of tuition, room and board, fees: $68,109 Average undergrad need-based financial aid: $46,770 % undergrads who borrow to pay for school: N/A Average cumulative debt: $17,849 88% graduate in 4 years; 97% graduate in 6 years Starting median salary: $66,300 Mid-career median salary: $140,300 
6. Harvey Mudd College ROI Rating: 98 Cost of tuition, room and board, fees: $72,228 Average undergrad need-based financial aid: $39,799 % undergrads who borrow to pay for school: N/A Average cumulative debt: N/A 85% graduate in 4 years; 93% graduate in 6 years Starting median salary: $81,000 Mid-career median salary: $155,800 Eighty-two percent of undergraduates receive financial aid and 40% qualify for merit-based awards. 5. The Cooper Union New York, New York ROI Rating: 98 Cost of tuition, room and board, fees: $61,370 Average undergrad need-based financial aid: $15,394 % undergrads who borrow to pay for school: N/A 75% graduate in 4 years; 87% graduate in 6 years Starting median salary: $63,900 Mid-career median salary: $124,200 Up until 2014, tuition was free at Cooper Union, supported by the college's endowment. As of fall 2015, every admitted students receives a half-tuition scholarship, valued at $21,000 annually, and financial aid is available for remaining expenses, based on need. 
4. California Institute of Technology Pasadena, California ROI Rating: 98 Cost of tuition, room and board, fees: $64,704 Average undergrad need-based financial aid: $41,901 33% of undergrads borrow to pay for school Average cumulative debt: $18,219 81% graduate in 4 years; 94% graduate in 6 years Starting median salary: $78,800 Mid-career median salary: $142,500 Caltech has need-based admissions for all U.S. citizens and permanent residents, and its financial aid awards are designed to meet 100% of demonstrated need. 3. MIT (Massachusetts Institute of Technology) Cambridge, Massachusetts ROI Rating: 98 Cost of tuition, room and board, fees: $64,612 Average undergrad need-based financial aid: $41,767 72% of undergrads borrow to pay for school Average cumulative debt: $24,954 84% graduate in 4 years; 93% graduate in 6 years Starting median salary: $81,500 Mid-career median salary: $147,000 Sixty-two percent of undergraduates qualify for the need-based MIT Scholarship, and there are no purely merit-based scholarships. Admissions are need-blind, and 28% of undergraduates are from families with annual incomes of less than $75,000. 
2. Princeton University Princeton, New Jersey ROI Rating: 98 Cost of tuition, room and board, fees: $60,090 Average undergrad need-based financial aid: $47,497 18% of undergrads borrow to pay for school Average cumulative debt: $8,098 89% graduate in 4 years; 97% graduate in 6 years Starting median salary: $69,800 Mid-career median salary: $147,800 Admissions are need-blind and once a student is admitted, Princeton meets 100% of that student's financial need. About 60% of students receive financial aid, which is delivered as grants that don't require repayment, not loans. 1. Stanford University Stanford, California ROI Rating: 99 Cost of tuition, room and board, fees: $62,541 Average undergrad need-based financial aid: $45,318 22% of undergrads borrow to pay for school Average cumulative debt: $21,238 75% graduate in 4 years; 94% graduate in 6 years Starting median salary: $73,300 Mid-career median salary: $140,400 Stanford maintains a wholly need-blind admission policy and all scholarships are need-based. Even families with incomes up to $125,000 and an adjusted net worth of less than $300,000 — including investments, cash, non-retirement savings, business net worth and home equity capped at 1.2 times annual income — are expected to contribute only a limited amount toward educational costs. --- Related on ThinkAdvisor:
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