Is Arizona State Worth It? The ROI Data on ASU (2026)

Arizona State University charges $12,223/year for in-state tuition, $33,139 for out-of-state. The average net price is $14,967/year, bringing the 4-year net total to about $59,868. ASU is the largest public university in the U.S. by enrollment (over 64,000 undergraduates), with a reputation for scale, access, and strong engineering programs.

Here's the data.

ASU by the Numbers

Two numbers stand out. The $14,967 average net price is low for a major research university. But the 68.0% graduation rate is meaningfully below peer flagships - about one in three students does not finish within six years, which is the single biggest risk factor on ASU's ROI math.

The Cost Reality

ASU's net prices across income brackets:

Lower-income families pay $9,000-$11,000/year, which is higher than some Big Ten flagships but still reasonable. Middle-income and upper-middle brackets pay close to sticker for in-state tuition. ASU's aid is solid but not as aggressive on the low end as UW-Madison or Michigan.

What Graduates Actually Earn

ASU's overall $62,668 median hides a strong STEM-and-business tier:

Ira A. Fulton Schools of Engineering delivers. Six-figure outcomes across multiple engineering disciplines, with Computer Science and Engineering Science earning top A grades. Nursing also lands solidly at $86,576 four years out.

The broader university is more mixed. The blended $62,668 median reflects strong STEM outcomes averaged against weaker humanities, communications, and education outcomes. Majors outside engineering, CS, nursing, and business generally produce earnings in the $40,000-$60,000 range - fine against an in-state net price, much harder to justify at out-of-state sticker.

How ASU Compares to Alternatives

If you're weighing ASU, you should compare it against:

University of Arizona - Arizona's other flagship, roughly similar tuition, comparable selectivity. U of A has higher graduation rates and comparable outcomes. For in-state students, worth comparing net price offers directly.

Northern Arizona University - Smaller, similar in-state tuition, weaker earnings outcomes overall but potentially better fit for students who want a smaller campus. ASU wins clearly on earnings for STEM majors.

Michigan State University - Similar size Big Ten public at a higher out-of-state price. Better graduation rate, broadly similar earnings. Worth comparing if you're out-of-state and open to the Midwest.

The Verdict

ASU scores 77/100 - Strong Value, driven by low net price and excellent engineering/CS outcomes, dragged down by a 68% graduation rate and a 70.1% three-year loan repayment rate that trails peer flagships.

ASU is worth it if: You're an Arizona resident targeting engineering, CS, nursing, or business. The in-state math works and the top programs deliver six-figure outcomes. Also strong for out-of-state STEM students since the out-of-state tuition ($33,139) is lower than most flagship peers.

ASU is not worth it if: You're uncertain about finishing. A 68% graduation rate means roughly one-third of the incoming class does not graduate within six years, and an unfinished degree produces a negative ROI almost every time. If you're not confident in your ability to complete, a cheaper starting point (community college then transfer) makes more financial sense.

The honest framing: ASU is a strong value for focused, motivated students in high-earning majors, and a risky bet for students who aren't sure they'll finish. Know which category you're in before enrolling.

All data from College Scorecard, as of 2026. Net prices are averages - individual aid packages vary.