Categories: Tips

30 Colleges That Leave Grads Struggling to Earn $35,000


Ollyy / Shutterstock.com

More than half of Americans don’t think that a college degree is worth the money. Some universities may be giving them a proper reason for that.

The HEA Group, a higher education research organization, recently analyzed data from the U.S. Department of Education to determine the income of approximately 5 million former students at 3,887 higher-education institutions across the nation.

They were concerned with which schools’ graduates meet each of four earnings benchmarks:

  • More than the federal poverty line (FPL), which was $14,580 for 2023 and is $15,060 for 2024
  • 150% of the FPL, which was $21,870 last year and is $22,590 this year
  • A $15 minimum wage for 50 work weeks per year, which amounts to $30,000
  • The typical earnings of a high school grad, which is about $32,000 per year

The HEA Group also identified the institutions whose graduates are making the least money 10 years post-graduation and those whose graduates earn the most by the same point.

We’ve compiled a list of which schools’ graduates have the smallest salaries after a decade, but excluded institutions in U.S. territories since the federal government defines poverty in these areas differently.

Stay tuned. After we explain which graduates have struggled the most, we’ll show you which schools produced the highest-earners.

For-profit institutions

Intellistudies / Shutterstock.com

The HEA Group analysis found the following for-profit schools primarily offer bachelor’s degrees, and the median earnings of their graduates after 10 years are the lowest of all such schools:

  1. Nightingale College (Utah) — $22,358 per year
  2. Careers Unlimited (Utah) — $24,824
  3. Hussian College (Pennsylvania) — $26,472
  4. Florida National University — $29,229
  5. Nossi College of Art & Design (Tennessee) — $31,180
  6. Arizona College — $31,302
  7. Los Angeles College of Music (California) — $32,350
  8. The North Coast College (Ohio) — $33,627
  9. Salem University (West Virginia) — $33,639
  10. Provo College (Utah) — $33,676

For-profit institutions don’t have a sparkling history, with problems ranging from a different, less rigorous accreditation process to poorer student satisfaction.

A report from the Federal Reserve of New York found that graduates of four-year for-profit schools have more student loan debt, and are more likely to default, than grads of “similarly selective” public institutions. Graduates of for-profit institutions are also more likely to be unemployed.

Private nonprofit institutions

Popova Valeriya / Shutterstock.com

The HEA Group analysis found the following private nonprofit schools primarily offer bachelor’s degrees, and the median earnings of their graduates after 10 years are the lowest of all such schools:

  1. Yeshiva Toras Chaim (New Jersey) — $17,347 per year
  2. Southeastern Baptist College (Mississippi) — $19,174
  3. Yeshiva of Machzikai Hadas (New York) — $19,345
  4. College of Menominee Nation (Wisconsin) — $21,649
  5. Yeshivath Viznitz (New York) — $21,742
  6. United Talmudical Seminary (New York) — $24,085
  7. Naropa University (Colorado) — $24,187
  8. Beacon College (Florida) — $24,347
  9. Manhattan School of Music (New York) — $24,590
  10. Uta Mesivta of Kiryas Joel (New York) — $25,100

Public institutions

JNix / Shutterstock.com

The HEA Group analysis found the following public schools primarily offer bachelor’s degrees, and the median earnings of their graduates after 10 years are the lowest of all such schools:

  1. Sinte Gleska University (South Dakota) — $21,742 per year
  2. University of Maine at Presque Isle — $28,114
  3. Institute of American Indian and Alaska Native Culture and Arts Development (New Mexico) — $30,089
  4. Mississippi Valley State University — $30,324
  5. Purdue University Global (Indiana) — $32,704
  6. Harris-Stowe State University (Missouri) — $33,234
  7. Central State University (Ohio) — $33,476
  8. Langston University (Oklahoma) — $33,964
  9. Alabama State University — $34,018
  10. Haskell Indian Nations University (Kansas) — $34,187

The best institutions for graduate earnings

Jim_Brown_Photography / Shutterstock.com

The HEA Group analysis found the median earnings of graduates after 10 years were highest at these schools that primarily offer bachelor’s degrees:

For-profit institutions:

  1. West Coast University (California) — $99,806 per year
  2. DigiPen Institute of Technology (Washington) — $99,210
  3. St. Paul’s School of Nursing (New York) — $98,433

Private nonprofit institutions:

  1. Samuel Merritt University (California) — $129,442
  2. University of Health Sciences and Pharmacy in St. Louis (Missouri) — $129,137
  3. Harvey Mudd College (California) — $128,215

Public institutions:

  1. State University of New York Downstate Medical Center — $112,739
  2. Los Angeles County College of Nursing and Allied Health (California) — $107,401
  3. Massachusetts Maritime Academy — $99,713

Get smarter with your money!

Want the best money-news and tips to help you make more and spend less? Then sign up for the free Money Talks Newsletter to receive daily updates of personal finance news and advice, delivered straight to your inbox. Sign up for our free newsletter today.



Source link

Staff Writer

Share
Published by
Staff Writer

Recent Posts

282. “We spend 154% of what we make. Will we ever stop drowning?”

  Ramit digs into how years of overspending, money avoidance, and relying on future…

1 hour ago

FieldQuote AI – AI Quotes & Invoicing for Contractors

Product Name: FieldQuote AI - AI Quotes & Invoicing for Contractors Click here to get…

2 days ago

11 Million Americans May Need a New Line of Work. 5 Signs You’re One

In 1981, I walked into an E.F. Hutton office with a fresh CPA certificate and…

5 days ago

281. “We have 4 kids and nearly $1M in debt. Are we screwed?”

  Ramit unpacks what happens when inconsistent income, mounting debt, and years of avoiding…

1 week ago

Apple Hiring iCup Supply Specialist to Restock Coffee Beans

Apple is looking to hire someone to keep employees’ coffee cups full. On Sept. 28,…

1 week ago

Holiday Jobs Are the Scarcest Since 2008. Here’s Who’s Still Hiring

If you’re counting on a holiday job to cover Christmas presents this year, don’t wait…

2 weeks ago