In a Jan. 24, 2022 report issued by Georgetown University’s Center on Education and the Workforce, New York Institute of Technology ranked among the top 2 percent of U.S. colleges for return on investment for low-income students.
New York Institute of Technology, one of the most affordable private universities in the state, tied at No. 72 among 3,410 U.S. institutions, including public and private, non- and for-profit institutions offering primarily certificate, associate, or bachelor’s degrees.
Among private nonprofit bachelor’s degree institutions with at least the median share of Pell Grant recipients, New York Tech ranked No. 3 for the highest ROIs for low-income students. It also had the strongest ROI showing among all Long Island colleges and ranked No. 9 among 216 New York State colleges included in the report.
The Georgetown CEW’s 2022 “Colleges Where Low-Income Students Get the Highest ROI” report utilized U.S. Department of Education College Scorecard data from December 2020 to compute a net present value (NPV) for each college included in the survey. The NPV for each college was calculated using the net price of the college’s cost and the average (mean) earnings of its students from low-income families (students with a family income of $30,000 or less) at six and 10 years after attendance.
The findings showed that low-income students who attend New York Tech achieve high salary potential after graduation. While public institutions generally had the highest ROI for low-income students over a 40-year period, New York Tech outperformed both private and public peers in a number of categories.
On Long Island, the next highest-ranked institution is Veeb Nassau County School of Practical Nursing, ranked at No. 161, followed by Stony Brook University (165), Molloy (169), Adelphi (185), Farmingdale (242), Long Island University (282), and Hofstra (346).
The report noted, “there are also surprising values among private colleges, particularly colleges that specialize in lucrative and high-demand fields, such as nursing and technology.”
“Access to education is a key determinant of social mobility. That’s why we’re proud to not only offer one of the lowest private college tuitions in New York State but also a high-quality education that graduates students into good-paying jobs,” said New York Tech President Henry C. “Hank” Foley. “Outcompeting many of the nation’s public institutions, our ranking bucks conventional wisdom and demonstrates that a degree from a private institution can indeed yield high earnings for low-income students.”
New York Tech outranked most New York State public and private colleges in the report. The only other colleges that ranked above New York Tech (No. 72) were: Cornell (10), Columbia (13), Albany College of Pharmacy & Health Sciences (17), Yeshiva (22), University of Rochester (36), Union (38), RPI (49), and SUNY Maritime (54).