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Students earning a Nichols degree can expect a high rate of return on investment (ROI), according to ratings just released by career information company PayScale.com.
Among private colleges specializing in business, Nichols ranks sixth nationally. According to PayScale.com’s calculations, which included data from the U.S. Department of Education, Nichols graduates would earn $612,000 more during a 30-year career compared to non-college graduates.
That amount averages out to a 5.4 percent annual ROI on a four-year Nichols tuition, PayScale.com found.
While the PayScale.com results focus on business schools, a study published in July by the organization Affordable Colleges Online included all types of undergraduate institutions. In that study, Nichols is ranks 22nd of 201 Massachusetts colleges for ROI.
The Massachusetts Institute of Technology and Harvard University hold the top two rankings in Massachusetts.
Affordable Colleges Online reports that it looked at fully-accredited, four-year, not-for profit institutions, as identified by the Carnegie Foundation; based tuition and fee costs on data from the National Center for Education Statistics; and used data from PayScale.com to project lifetime earnings.
“We’ve sifted through comprehensive data sources to find colleges and universities in Massachusetts that offer a high quality education with consistent, long-term payoffs in the workplace. These are important lists for prospective students to consider,” says the organization’s founder Dan Schuessler.
“We aim to educate so that potential students are aware of their options for obtaining a degree and, most importantly, for paying for one,”