PROVIDENCE – A pair of local trade schools are among the nation's top higher education institutions for 10-year return on investment, according to Georgetown University’s Center on Education and the Workforce. Meanwhile, a Rhode Island Ivy League institution’s return on investment over 15, 20, 30 and 40 years is also among the highest in the country.
The rankings, released Wednesday, notes that New England Tractor Trailer Training School in Pawtucket and Seekonk-based MotoRing Technical Training Institute were among the top schools for 10-year student return on investment out of approximately 4,600 schools throughout the country. NETTTS and MTTI are among 20 colleges, universities and certificate-program trade schools listed in Georgetown’s rankings based on return on investment after 10 years, 15 years, 20 years, 30 years and 40 years.
Researchers for the rankings reviewed the U.S. Department of Education’s College Scorecard to calculate students’ median earnings six years, eight years and 10 years after they enroll, the institution’s average net price and the school's “predominant credential” awarded to students.
“If the institution predominantly grants associate’s degrees, then we assume the student attended for three years,” the study notes, “whereas if the institution predominantly awards bachelor’s degrees, then we assume the student attended for five years.”
The study says the ROI is the cumulative sum of earnings minus the total out-of-pocket costs based on the average net price. The 2021-22 academic year was the most recent year calculated by Georgetown for the ranking
According to the study, the 10-year return on investment at NETTTS is $448,000, while MTTI’s ROI over 10 years is $350,000. NETTTS’s 15-year return on investment is $731,000, $1 million after 20 years, $1.6 million after 30 years and $2.1 million after 40 years. MTTI’s 15-year return on investment is $494,000, $639,000 after 20 years, $928,000 after 30 years and $1.2 million after 40 years.
Brown University has the highest 10-year return on investment for a local four-year college ranked by Georgetown at $282,000. It also has the highest return on investment among the local schools after 15 years at $742,000. Both Brown and Bryant University have returns on investment after 20 years at $1.2 million, $2.1 million after 30 years and $3 million after 40 years, highest among local colleges and universities.
The Community College of Rhode Island has the highest 10-year return on investment for a local state-run school – either two-year or four-year – at $242,000. The University of Rhode Island, with a $220,000 return on investment over 10 years according to Georgetown, had the highest return on investment among local state schools after 15 years [$575,000], after 20 years [$928,000], after 30 years [$1.6 million] and after 40 years [$2.3 million].
Other local schools noted by Georgetown for return on investment are:
- Lincoln Technical Institute: $255,000 after 10 years; $419,000 after 15 years; $584,000 after 20 years; $912,000 after 30 years; $1.2 million after 40 years
- Bristol Community College: $228,000 after 10 years; $423,000 after 15 years; $619,000 after 20 years; $1 million after 30 years; $1.4 million after 40 years
- Bryant University: $203,000 after 10 years; $672,000 after 15 years; $1.1 million after 20 years; $2.1 million after 30 years; $3 million after 40 years
- University of Massachusetts Dartmouth: $203,000 after 10 years; $492,000 after 15 years; $780,000 after 20 years; $1.4 million after 30 years; $1.9 million after 40 years
- Paul Mitchell School Rhode Island: $197,000 after 10 years; $319,000 after 15 years; $442,000 after 20 years; $687,000 after 30 years; $932,000 after 40 years
- Stonehill College: $197,000 after 10 years; $595,000 after 15 years; $993,000 after 20 years; $18 million after 30 years; $2.6 million after 40 years
- Rhode Island College: $186,000 after 10 years; $449,000 after 15 years; $712,000 after 20 years; $1.2 million after 30 years; $1.8 million after 40 years
- Empire Beauty School: $177,000 after 10 years; $305,000 after 15 years; $434,000 after 20 years; $692,000 after 30 years; $949,000 after 40 years
- Providence College: $166,000 after 10 years; $583,000 after 15 years; $1 million after 20 years; $1.8 million after 30 years; $2.7 million after 40 years
- Johnson & Wales University [combined ROI for in-person and online degrees]: $137,000 after 10 years; $576,000 after 15 years; $1 million after 20 years; $1.9 million after 30 years; $2.8 million after 40 years
- Wheaton College: $132,000 after 10 years; $466,000 after 15 years; $800,000 after 20 years; $1.5 million after 30 years; $2.1 million after 40 years
- Salve Regina University: $132,000 after 10 years; $532,000 after 15 years; $936,000 after 20 years; $1.7 million after 30 years; $2.6 million after 40 years
- Roger Williams University: $107,000 after 10 years; $464,000 after 15 years; $822,000 after 20 years; $1.5 million after 30 years; $2.3 million after 40 years
- Rhode Island School of Design: $56,000 after 10 years; $395,000 after 15 years; $733,000 after 20 years; $1.4 million after 30 years; $2.1 million after 40 years
- New England Institute of Technology: $232,000 after 10 years; $469,000 after 15 years; $706,000 after 20 years; $1.2 million after 30 years; $1.7 million after 40 years
(CLARIFICATION: Updated 7th paragraph to note Brown University and Bryant University each have similar returns on investment after 20, 30 and 40 years.)
James Bessette is the PBN special projects editor, and also covers the nonprofit and education sectors. You may reach him at Bessette@PBN.com. You may also follow him on X at @James_Bessette.
