Choosing a College Isn’t About the Money

When you apply to a college, many factors contribute to your decision. The location, size, majors, and maybe even a college’s sport team could either pull you in or keep you from going there. However, most people don’t think about the long term outcome of where they’ve decided to go. In saying that, some schools result in higher postgraduate income (average salary for first year graduates) than others. The rankings for top 15 highest paying national universities are:

1. Massachusetts Institute of Technology ($91,600)
2. United States Merchant Marine Academy ($89,000)
3. Harvard University ($87,200)
4. Georgetown University ($83,300)
5. Stevens Institute of Technology ($82,800)
6. Rensselaer Polytechnic Institute ($81,700)
7. California Maritime Academy ($81,100)
8. Stanford University ($80,900)
9. Massachusetts Maritime Academy ($79,500)
10. Harvey Mudd College ($78,600)
11. University of Pennsylvania ($78,200)
12. Worcester Polytechnic Institute ($77,600)
13. Washington and Lee University ($77,600)
14. SUNY Maritime College ($77,300)
15. Lehigh University ($76,800)

If you’re thinking about staying in New York, here are the top 15 universities in our state that produce the highest-paying graduates:

1. United States Merchant Marine Academy ($89,000)
2. Rensselaer Polytechnic Institute ($81,700)
3. SUNY Maritime College ($77,300)
4. Polytechnic Institute of New York University ($73,500)
5. Columbia University ($72,900)
6. Cornell University ($70,900)
7. Clarkson University ($68,400)
8. Manhattan College ($63,600)
9. Union College ($61,800)
10. Colgate University ($61,500)
11. New York University ($58,800)
12. Pace University- New York ($58,400)
13. Binghamton University ($58,400)
14. Molloy College ($57,500)
15. Barnard College ($57,400)

You may have noticed that a lot of the schools listed above are very hard to get into, or require certain special conditions for acceptance. Many of them also have high tuition rates, so earning 80,000 dollars a year won’t seem very appealing with a 160,000 dollar 4-year debt. What’s truly important is finding a school that gives you a good deal on financial aid (if you need it), and taking out loans with low interest rates, or, even better, fixed interest rates.

Should a university’s average postgraduate salary be the sole reason you either love or hate it? Of course not. What’s truly important is that a university has all of the programs you want offered to you. Some majors certainly won’t get you a degree that’ll earn you 80 grand a year from the beginning (or at all), but if you’re doing what you love, that shouldn’t matter.

If you are truly worried about spending little money on a college education and receiving the best value with tuition, why not look at state schools over private schools? Sure, there are a fair amount of private schools that will give you a good deal, but they’re also generally more competitive and expensive. Senior Alexis Rivers, who will be attending SUNY Geneseo this fall, shared to me her college selection experience.

“I chose a state school because it is cheaper, which is a big factor for a lot of people. Most freshman classes are General Education (Gen Ed) so they would mostly be the same anywhere.”

When asked about the education she’ll be receiving, she stated, “I think it will be a good education. It’s still a college, which even though a lot more people go to college now than they did in the past, a lot of people still don’t. Going to college anywhere is a big step for a lot of families and kids. Getting accepted anywhere is an accomplishment.”

Alexis is intending to become an American History teacher.

So in the end, money is important, but it is not the most important factor in choosing a school. So whether you wish to be a teacher or a chemical engineer (or both!), find the school that gives you the best feeling, regardless if it’s a private or public institution.