A new study from Georgetown University Center on Education and the Workforce has ranked St. Louis College of Pharmacy No. 1 in the nation for return on investment at 15 and 20 years after enrollment. In addition, the college took the No. 2 spot among colleges nationwide for return on investment at 30 and 40 years after enrollment.
The data placed the college among the top tier of colleges and universities across the country, surpassing institutions such as Massachusetts Institute of Technology, Harvard University, Stanford University, in addition to other globally recognized institutions.
“Students and parents across the country are looking for ways to understand and evaluate the return on investment in a college education,” said John A. Peiper, Pharm.D., FCCP, FAPhA, president of the College. “This study, for the first time, gives them a tool to understand the long-term value of a degree.”
To gather its return on investment data, Georgetown University researchers examined the U.S. Department of Education’s College Scorecard data to calculate net present value, a metric that includes costs, future earnings, and the length of time it would take to earn a certain amount of money over a fixed amount of time. They then ranked institutions across the country by net present value of a bachelor’s degree 10, 15, 20, 30 and 40 years after enrollment.
The study found that forty years after enrollment, bachelor’s degrees from private colleges have the highest returns on investment, and at the 40-year mark, three of the top 10 schools specialize in pharmacy and health sciences education.
Unlike many institutions included in the study, the college was one of only two institutions to rank in the top 10 for short-term returns 10 years after enrollment and remain in the top 10 for long-term returns at the 40-year mark. The college was the only institution in the country to rank in the top 5 at every point of measurement.
“We are thrilled that this ranking recognizes the college’s legacy providing graduates with an education that serves as a launch pad for success,” Pieper said. “These findings further prove our student experience and academics add significant value which results in higher earnings throughout our graduates’ lifetime.”
The study found that a bachelor’s degree from the college offers graduates an average long-term net present value of more than $2.7 million, when examining 40-year net economic gains. This earning calculation surpasses the average earnings for graduates of public two- and four-year colleges, private four-year colleges, for-profit colleges and training academies, even when factoring in student loan debt.
To view the full report and sortable tables of 4,500 colleges and universities ranked by various return on investment metrics, visit cew.georgetown.edu/CollegeROI.