Queens College ranked number 37 in terms of their return on investment, according to “Is College Worth it?” co-authored by former secretary of education, William J. Bennett and David Wilezol, which analyzed 3,500 colleges nationwide.
ROI is calculated by dividing the return of an investment, in this case the salary of a job received after graduation, by the cost of the investment or tuition. The result is then expressed as a percentage or ratio.
The book cited PayScale, a company that researches and compares salary data, where QC achieved an annual ROI of 7.6 percent and a ranking of 37 in its surveys, topping some of the county’s most well-known and revered schools, such as the University of California–Berkley and University of North Carolina-Chapel Hill.
When the ROI was calculated with financial aid included, QC’s ROI was 10.7 percent annually.
This ranking could aid in the decision process for many students who feel overwhelmed with the number of colleges to choose from, especially those for whom tuition costs are a major concern.
“Since the job market is so unpredictable and it’s tough to get employed where you really want to, it’s definitely worth it to go to QC and get a quality education for cheaper than a lot of other colleges and universities would be,” said Jill Nickerauer, a senior who hopes to get a job in publishing after graduation.
With the economy in trouble and the job market difficult to break into, the value of a college degree is an extremely relevant concern. Many students question spending tens of thousands of dollars if they won’t be able to find a job in their desired field after graduation.
“A friend recently told me that in her opinion it is really the entrepreneurial spirit that pays off much more than a college education,” said Judith Krinitz, assistant director of student life. “I disagreed. I argued that a college education demonstrates to potential employers commitment, drive, determination, the ability to meet deadlines and the developed ability to disagree when one’s values comes into question.”
QC graduates know the value of a diploma especially considering its relatively low tuition rates.
“I chose to go to QC because of the school’s reputation and its proximity to home,” said Mary Pipinias, an alumnus who received a bachelor’s degree in elementary education in 2006. “After graduating with my bachelor’s degree, I continued on for my master’s and began teaching in a NYC elementary school. When people hear that I received my teaching degree at QC they are impressed. I think my decision to go to QC was worth it, as the cost for the education I received does not compare to the benefits I am reaping years after my graduation.”
This is not the first time the college has been recognized for its affordability. It is annually listed in the “Princeton Review” as one of the country’s 100 “Best Value” colleges.
“We know that a college education is the ultimate portable asset,” QC president James Muyskens said. “It’s great to get confirmation that students can bank on QC’s reputation.”