For students aspiring to study in the United States, gaining admission to a prestigious college can be an uphill battle. With high tuition fees and rising living costs, the financial burden can deter many from pursuing their desired degree programs.
However, the payoff can be significant if the institution offers strong career prospects and substantial financial aid. Forbes recently released a list of colleges that not only minimize student debt but also provide a high return on investment (ROI) through lucrative career opportunities post-graduation.
Top 10 US Colleges Offering the Best Return on Investment and Low Student Debt
From MIT to the City College of New York, these institutions stand out for sending graduates into the workforce with little debt and impressive earnings potential. Below are the top 10 schools from this list.
Princeton University
Princeton University continues to rank #1, not only in the overall top 500 but also in terms of return on investment for its graduates. This prestigious Ivy League university in New Jersey offers nearly 40 different majors, with computer science, economics, and public policy being the most popular choices. Many Princeton graduates find successful careers in finance and technology, with business, consulting, and hedge funds also common career paths. A Princeton graduate typically earns a median salary of nearly $200,000 a decade after graduation. Thanks to its large $34 billion endowment, the university offers generous financial aid packages, allowing most students to graduate debt-free or with minimal student loans.
Stanford University
Stanford University, an “Ivy-plus” institution located in California, is known for its strong emphasis on STEM programs and its deep connections to Silicon Valley. Many Stanford graduates go on to secure high-paying jobs in technology and startups. Within a few years of completing their degrees, the median salary of a Stanford graduate surpasses $100,000 annually. Federal loans are rare among its students, with only about 5% borrowing and the median loan amount being $9,851.
CUNY City College of New York
The City College of New York (CCNY), part of the City University of New York (CUNY) system, is one of the most affordable institutions on this list. While it is no longer free, New York residents pay just $6,930 in annual tuition. Popular majors include psychology, biology, and computer science. According to Forbes, CCNY graduates recoup the net cost of their education in just six months, making it one of the top schools for low student debt and quick financial recovery.
California Institute of Technology
At the California Institute of Technology (Caltech), graduates earn a median salary of $132,140 six years after enrollment. With a strong focus on science and technology, Caltech boasts a price-to-earnings premium of 0.73, meaning that students typically recover the cost of their education in about nine months. Located in Pasadena, California, this institution is a top choice for those seeking careers in technology and innovation.
CUNY Hunter College
CUNY Hunter College, located on Manhattan’s Upper East Side, offers more than 100 undergraduate and postgraduate programs across its five schools. Only 6.5% of students take out loans, with a median loan balance of $8,812. Hunter College graduates typically recover their educational costs in about six months, making it one of the most financially efficient schools in the country.
Massachusetts Institute of Technology
MIT graduates enjoy high earning potential, with a median salary of $105,000 six years after graduation. The Cambridge-based university, known for its rigorous science and technology programs, sees just 4% of students taking out federal loans, with a median debt of $12,462. Additionally, 95% of borrowers manage to begin paying off their loan principal within five years of graduation, thanks to the impressive salaries MIT graduates command in fields like computer science, mechanical engineering, and mathematics.
CUNY Brooklyn College
Brooklyn College, another standout in the CUNY system, offers an affordable path to a solid career. Only 7% of students borrow federal loans, with a median loan amount of $9,218. Students typically recover their educational costs in just over six months. With a 55% acceptance rate, Brooklyn College is accessible to many students, and popular majors include psychology, accounting, and business administration.
CUNY York College
Located in Jamaica, Queens, CUNY York College offers its students a selection of 60 undergraduate majors, including nursing, social work, and health services. Only 5% of students borrow federal loans, with a median loan balance of just $7,500—one of the lowest among the schools featured by Forbes. York College graduates generally take just over a year to recoup their net cost.
CUNY John Jay College of Criminal Justice
Specializing in criminal justice and forensic science, the CUNY John Jay College of Criminal Justice prepares graduates for careers in law enforcement, law, and public policy. About 7% of students take out loans, with a median loan amount of $9,250. Graduates typically recoup their costs in about 10 months, with low-income students taking only six months to do so, reflecting the school’s commitment to providing an affordable and valuable education.
Harvard University
With its vast $50 billion endowment, Harvard University offers generous financial aid packages, meaning fewer than 3% of students borrow federal loans. The school’s aid program ensures that all students showing financial need receive assistance. After graduation, Harvard alumni typically take just over a year to recover the net cost of their education, with low-income students managing to do so in as little as six months. Known for producing leaders across various sectors, Harvard remains one of the top choices for students looking for a significant return on their educational investment.