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Colleges with biggest bang for the buck

Tuition and student debt levels are soaring. So which schools provide the best return on your investment? These five topped Payscale's list.

.  SUNY - Maritime College

suny maritime college college return investment gallery
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  • 30-year return on investment: $1,611,000
  • Avg. total college cost: $90,530 (in state)
  • Avg. annual scholarships and grants: $5,567
  • Graduation rate: 47%

State University of New York - Maritime College trains students to be captains and chief engineers of large commercial ships and other vessels.

Roughly 60% of its students are in licensed maritime programs, while others pursue degrees in fields like environmental science and international business, said Provost Michael Cappeto. The college's programs are highly specialized and focus on hands-on training, which makes its graduates highly desirable.

"If you're in high demand, the wages go up," Cappeto said.

The only public college in the top five, the Maritime College costs significantly less if you're a New York resident. For in-state students, it costs half what the other four schools do. The Bronx-based school is also relatively affordable for out-of-state students, with an average total cost of $124,800.

The college has a relatively low graduation rate, though, since students who want to major in something beyond the sea may need to transfer to complete their studies, said Cappeto.

Source: PayScale
PayScale economists calculated the total median pay for a school's undergraduate alumnus over a 30-year career and compared it to that of a high school graduate who worked for 34 to 36 years. They then subtracted the college's average cost of attending -- including tuition, room and board, books and supplies -- and took scholarships and grants into account. From that, they determined the school's return on investment (in 2013 dollars). Alumni who went onto graduate school or other higher education were excluded from the calculations.
  @melhicken - Last updated May 02 2013 06:18 AM ET

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