Today, the Utah Foundation releases a new report in its Utah Educational Attainment Series. The report evaluates return by examining three factors: the institution attended, the credential obtained, and the subject studied. Among the findings of the report:
Weber State University tops the list in Utah for students’ 10-year net present value of their education. That is calculated as how much a certain sum of money – in this case the future earnings of additional education minus the cost of that education – would be worth today.
Neumont College of Computer Science has the highest ranked 40-year net present value of any college in Utah, followed by Brigham Young University, the University of Utah, Weber State University, and Westminster College.
As expected, the more education one has, the better the return on investment. However, 27% of those with associates degrees earn more than the median bachelor degree wage and 35% of those with bachelor’s degrees earn more than the median master’s degree wage.
Salt Lake Community College offers a large variety of associates degrees, including Computer and Information Sciences. That program has a first-year return on investment of a whopping $53,628.
Associates degrees with the highest median earnings are engineering and architecture. Median earnings are also higher than average for public safety, nursing, construction and manufacturing, business, and agriculture degrees.
Utah Foundation President Shawn Teigen notes that, “There has been a lot of talk about whether post-secondary education is worth it. Sure, it might not be what it used to be – particularly in the face of increasing costs. Nonetheless,” say Teigen “whether Utahns are getting certificates, certifications, associates degrees, or bachelor’s degrees, the more education they have after high school, the more likely they are on the path toward greater economic and social benefits.”
Bang for your Buck: Which Utah Schools have the Best Return on Investment will available on the Utah Foundation website.