2026 College Value Report
We scored 1,665 four-year U.S. colleges on financial return on investment using federal College Scorecard data. 42% scored Poor. Only 18% scored Strong or better. The gap between the best and worst schools is $120,000 in earnings per year. Here is what the data shows.
The Numbers That Matter
Score Distribution: Most Schools Don't Score Well
The ROI score scale runs 0-100. We group schools into five tiers. The distribution is heavily skewed toward the bottom: 707 of 1,665 schools (42%) fall into the Poor tier, scoring below 45. Only 83 schools (5%) reach Exceptional. The median school scores 49 - below average.
Top 10 Schools by ROI
The top 10 share a pattern: high earnings, moderate net prices (most under $30,000/year after aid), and strong completion rates. Two public universities make the list - UC Berkeley and Georgia Tech - competing on equal terms with schools that cost twice as much at sticker price.
| # | School | Score | Net Price/yr | 10yr Earnings | Type |
|---|---|---|---|---|---|
| 1 | MIT | 99 | $20,111 | $143,372 | Private |
| 2 | Stanford | 99 | $13,807 | $124,080 | Private |
| 3 | University of Chicago | 98 | $14,860 | $91,885 | Private |
| 4 | Rice University | 98 | $13,370 | $89,718 | Private |
| 5 | UC Berkeley | 97 | $13,481 | $92,446 | Public |
| 6 | Yale | 97 | $23,777 | $100,533 | Private |
| 7 | Georgia Tech | 97 | $12,116 | $102,772 | Public |
| 8 | Notre Dame | 97 | $26,780 | $99,980 | Private |
| 9 | Carnegie Mellon | 97 | $31,944 | $114,862 | Private |
| 10 | Penn | 97 | $28,699 | $111,371 | Private |
Bottom 10 Schools by ROI
The bottom of the list shows a consistent pattern: net prices of $10,000-$22,000/year that seem affordable, but median graduate earnings of $22,000-$33,000 - barely above what the average high school graduate earns ($35,000). In some cases, graduates earn less. These schools charge for a degree that doesn't lift earnings above the no-college baseline.
| School | Score | Net Price/yr | 10yr Earnings | State |
|---|---|---|---|---|
| Martin University | 2 | $18,114 | $22,544 | IN |
| Rust College | 3 | $12,587 | $32,275 | MS |
| Allen University | 3 | $10,972 | $30,497 | SC |
| Morris College | 3 | $20,555 | $30,614 | SC |
| Lane College | 3 | $10,904 | $31,670 | TN |
| Miles College | 4 | $14,271 | $32,627 | AL |
| Arkansas Baptist College | 4 | $10,627 | $28,418 | AR |
| East-West University | 4 | $21,697 | $29,963 | IL |
| Stevens-The Inst. of Business & Arts | 4 | $19,137 | $29,058 | MO |
| Livingstone College | 4 | $13,479 | $32,600 | NC |
The $60,000 Major Gap
What you study matters more than where you go. The highest-earning major in our database (pharmacy, $92,722 average median earnings) pays $69,834 more per year than the lowest-earning major (drama/theatre, $22,888). Over a 30-year career, that compounds to roughly $2 million in cumulative earnings difference. Same four years, same diploma frame, completely different financial trajectory.
Highest-Earning Majors
Lowest-Earning Majors
Earnings are average median 10-year earnings across all schools reporting data for that major. Filtered to majors with 10+ reporting institutions. Browse all 306 majors →
Public vs. Private: The Value Gap
Public universities outscore private nonprofits by 9 points on average (57 vs 48) while charging 40% less ($14,687/year vs $24,308/year average net price). For-profit schools trail both at 32 average with the highest average net price ($27,822/year) and lowest average earnings.
The headline is clear: on average, you pay $9,600 more per year at a private nonprofit and get essentially the same median earnings ($56,098 vs $55,220). For-profit schools charge the most and produce the least. The exceptions exist - some private schools like Rice ($13,370 net) and Stanford ($13,807 net) are cheaper than many publics after aid - but they are exceptions, not the rule.
Where You Go to College Matters: State-Level ROI
The median ROI score varies by more than 50 points depending on which state you attend college in. Connecticut (median: 76), California (71), and Utah (70) lead the country. Puerto Rico (20), South Carolina (25), and Alabama (26) trail. Geography is an underrated variable in the college ROI equation.
Highest-ROI States (Median Score)
Lowest-ROI States (Median Score)
Median ROI score among all four-year institutions in the state with College Scorecard data. Count in parentheses. Read: How State Choice Changes Your ROI →
Seven Key Findings
The majority of U.S. colleges are a questionable financial investment
1,029 of 1,665 schools (62%) score below 60/100 - the threshold where the financial case starts to weaken. At 707 schools (42%), the ROI score is below 45. These are institutions where the typical graduate's earnings barely exceed - or fail to exceed - what they would have earned without a degree.
What you study matters more than where you go
The $60K gap between the top-earning major (pharmacy, $92,722) and the bottom (drama, $22,888) is larger than the gap between most schools. An electrical engineering graduate from a mid-tier state school will typically out-earn a liberal arts graduate from an expensive private university.
Public universities are the better financial bet for most students
At 9 ROI points higher on average (57 vs 48) and nearly $10,000 less per year, public schools deliver equivalent earnings at lower cost. The private schools that beat publics on ROI - MIT, Stanford, Rice, Chicago - do so because of exceptionally generous financial aid, not because private schools are inherently better.
For-profit schools are almost never worth it
Average score: 32/100. Average net price: $27,822/year - the highest of any category. Average earnings: $52,923 - the lowest. There are 88 for-profit four-year institutions in our dataset. The math works at almost none of them.
The debt-to-income picture is worse than the headline suggests
Median debt is $23,250 against median earnings of $53,610 - a ratio of 0.43, well within the safe zone. But at the bottom 10% of schools, debt ratios exceed 1.0, meaning graduates owe more than they earn in a year. The median hides the tail risk.
Geography is an underappreciated variable
The 56-point gap between the highest-ROI state (Connecticut, 76) and the lowest (Puerto Rico, 20) reflects real differences in state funding, institutional quality, and regional labor markets. Where you attend college affects your ROI nearly as much as what you study.
Net price is not the best predictor of ROI
Some of the best values are also the most expensive at sticker price: MIT ($20,111 net) and Stanford ($13,807 net) have top ROI scores because their generous aid and strong outcomes more than compensate. Some of the worst values have seemingly affordable net prices ($10,000-$15,000/yr) but produce graduates who earn less than the no-college baseline.
Methodology & Data
All data in this report comes from the U.S. Department of Education College Scorecard (2023-24 academic year). ROI scores are calculated using a five-component weighted algorithm: earnings premium (30%), payback period (25%), debt-to-earnings ratio (20%), completion rate (15%), and loan repayment success (10%). Scores are percentile-normalized across all 1,665 institutions with sufficient data. The $35,000 high school graduate earnings baseline is from the Bureau of Labor Statistics. Full methodology, formulas, and caveats are on our methodology page.
Earnings data reflects students who entered college roughly 10 years before the measurement date. All figures are in nominal dollars. Individual results vary based on major, effort, financial aid, and career decisions.
Explore the data
Every school in this report has a full profile with sub-scores, earnings by major, net price by income bracket, and peer comparisons.
Published April 4, 2026 by Ryan Mercer / CampusROI. Data from U.S. Department of Education College Scorecard and Bureau of Labor Statistics. For press inquiries, data requests, or corrections: hello@campusroi.com.