Attending college is essential for certain careers, yet enrolling in some institutions may not be financially wise. Many of these schools show a negative return on investment 20 years into a career, considering their tuition costs, as indicated by PayScale’s research. Discover which colleges don’t justify their expense!
1. Columbia International University in Columbia, South Carolina
It’s easy to confuse Columbia International University with New York’s Columbia University, but they are distinct institutions. Although the $133,000 cost for a four-year program at Columbia International is lower than what you’d spend at the Ivy League Columbia, the expected earnings post-graduation don’t match up to those of the more renowned university.
Situated in Columbia, South Carolina, Columbia International University has a return on investment listed by PayScale as negative $115,700. This modest-sized, multi-denominational Christian college has an undergraduate population of just 620 students.
2. Mississippi Valley State University in Itta Bena, Mississippi.
Mississippi Valley State University has gained national recognition for its football team and marching band. Notably, it’s the alma mater of Jerry Rice, one of the NFL’s most legendary wide receivers. However, Jerry Rice’s exceptional skills are not something everyone possesses, which is a key reason behind his significant earnings.
While Jerry Rice saw a multimillion-dollar return on investment over 20 years, current students should not anticipate the same results. After investing $75,700 for a four-year degree, the 20-year projected return stands at a negative $174,800.
3. Wilson College in Chambersburg, Pennsylvania
Situated on a 300-acre campus in Chambersburg, Pennsylvania, Wilson College has a history spanning over 144 years as a women’s liberal arts institution. It holds the distinction of being the first in the U.S. established through an endowment from a woman, Sarah Wilson.
Beginning in 2013, Wilson College opened its doors to male students as well. However, with a 20-year average return on investment of negative $86,700, one might question the value of studying there. The cost of a four-year degree from this institution is $156,000, yet only 39% of students graduate within that timeframe.
4. St. Andrews University in Laurinburg, North Carolina
A four-year education at St. Andrews University comes with a price tag of $167,000, which is quite substantial. However, the institution offers a favorable student-faculty ratio of 12:1. Additionally, the charming and serene atmosphere of Laurinburg, North Carolina, appears to be well-suited for academic pursuits.
Nevertheless, it’s unrealistic to anticipate earning millions immediately after graduating from this university. The 20-year return on investment is calculated at negative $98,800. On a brighter note, since 2013, they have started offering Master’s degrees in business administration, which might slightly enhance the school’s reputation through the success of these graduates.
5. Stillman College in Tuscaloosa, Alabama
Located in Tuscaloosa, Alabama, Stillman College is a modestly sized institution with around 615 students, appealing to those seeking a close-knit community in a town largely influenced by the University of Alabama. This setting offers students an ideal mix, allowing them to experience large university parties at UA for a taste of a bigger college atmosphere.
The cost of attending Stillman College for four years is $98,700, but with a low graduation rate of only 23%, the total expense could easily exceed six figures. Additionally, the 20-year return on investment for this college stands at a negative $80,400.
6. Unity College in Unity, Maine
Numerous students are eager to use their college years to contribute positively to the planet, and Unity College in Unity, Maine, caters to this aspiration. The college provides an education with a strong focus on sustainability, especially for those pursuing studies in environmental sciences.
However, what the institution doesn’t provide is an education that leads to lucrative careers. According to PayScale, the 20-year return on investment is negative $82,100. While its graduation rate of 54% is above half, the cost for a four-year degree amounts to $151,000.
7. Rust College in Holly Springs, Mississippi
Rust College, a small institution with a capacity of 800 students, has a selective admission process, accepting only 43% of its applicants due to the high number of applications. Located in Holly Springs, Mississippi, this historically black college is not only operational but also stands as the second-oldest private college in the state.
Moreover, it’s notably affordable, with tuition and fees totaling under $10,000 annually, which is quite economical by U.S. standards. Despite this low tuition, the overall expense for a four-year degree, including room and board, reaches $63,400. Yet, the 20-year return on investment is a disappointing negative $97,100.
8. Shaw University is located in Raleigh, North Carolina
Established in 1865, Shaw University holds a distinguished position as a historically black institution, often referred to as the “pioneer of African-American colleges.” Originally founded to educate newly freed slaves, it has since evolved into a private arts university with a rich legacy.
While the name is appealing, it fails to offset the alarming -$93,600 return on investment over 20 years. Despite the pleasant attributes of Raleigh, it does little to rationalize the dismal return on investment, especially considering the substantial $118,000 cost for a four-year degree.
9. Emory & Henry College is located in Emory, Virginia
Despite having notable alumni, Emory & Henry College should not be confused with Emory University in Georgia. Unfortunately, a majority of graduates from Emory & Henry College do not achieve a positive financial return after completing their education.
Emory & Henry College charges its graduates $179,000 for a four-year degree, while only 54% of its students manage to graduate—a stark contrast to the more renowned Emory University, which boasts a 91% graduation rate. Furthermore, Emory University has an impressive return on investment of $452,000, whereas Emory & Henry College in Emory, Virginia, suffers from a distressing -$91,300 return on investment after 20 years.
10. Saint Augustine’s University is situated in Raleigh, North Carolina
While Saint Augustine’s University embraces the motto “the truth will set you free,” the truth about this Raleigh-based institution reveals a challenging situation. A mere 24% of students manage to complete their degree within four years. Given that the cost of a four-year degree amounts to $129,000, a significant portion of students do not graduate within that timeframe, resulting in a disappointing -$77,700 return on investment that appears difficult to justify.
This sum could potentially purchase a home in many neighborhoods. With fewer than a thousand students enrolled, we sincerely hope that their educational experience at the institution was valuable enough to justify the significant expenditure.
11. Cazenovia College is located in Cazenovia, New York
Cazenovia College is situated near Syracuse, New York, within the town of Cazenovia. It boasts a relatively substantial academic staff of 154, which is notable considering the undergraduate student body consists of only 915 individuals. This faculty-to-student ratio might contribute to the relatively high cost of $184,000 for a four-year degree.
Cazenovia College is a liberal arts institution known for its favorable teacher-to-student ratio. However, despite this advantage, the return on investment for graduates is disappointing, standing at -$98,600. Interestingly, one of its noteworthy alumni is Leland Stanford, who could have been inspired to establish Stanford University with the belief that he could provide students with a more promising return on their educational investment than what he experienced at his alma mater.
12. Voorhees College – Denmark, South Carolina
Voorhees College, situated in Denmark, South Carolina, is positioned in the central region of the state. The town itself has a population of slightly over 3,000 residents, with approximately 600 of them being enrolled as students at the college. While Voorhees College, as a historically black institution, receives commendable reviews for its educational offerings, the positive sentiments often experienced there do not necessarily translate into substantial financial gains for its graduates.
With a mere 26% of students completing their degree within four years, and the cost of a four-year education amounting to $97,000, the average return on investment after 20 years stands at a discouraging -$153,400. These statistics raise questions about what factors contribute to the institution’s popularity despite such challenging financial outcomes for its graduates.
13. Paine College is situated in Augusta, Georgia
Staying true to its name, students at Paine College are burdened with a substantial cost of $97,500 for four years of education. Regrettably, after two decades, the return on investment stands at a distressing -$94,700.
14. Wheelock College – Boston, Massachusetts
Wheelock College in Boston, Massachusetts, contributes to the vibrant atmosphere of this lively city. Previously named Miss Wheelock’s Kindergarten Training School, it was established by Lucy Wheelock, a renowned educator with ancestral ties to John Adams.
Following its merger with Boston University’s School of Education, it underwent a name change to Wheelock College. Unfortunately, educators often contend with inadequate compensation, and a four-year degree from Wheelock demands a hefty $201,000 investment. Two decades later, the return on that investment can plummet to a daunting -$140,700.
15. Lindsey Wilson College – Columbia, Kentucky
Lindsey Wilson College is another institution where the return on investment can be disappointing. However, the school boasts a thriving athletic scene, with numerous alumni excelling in professional sports. Notably, their soccer team stands as a dominant force in the NAIA, a sports league catering to smaller schools.
Earning a four-year degree at a cost of $152,000 is a feat achieved by only 34% of students. Unfortunately, the return on investment after such a substantial investment in education can be disheartening, plummeting to a dispiriting -$160,800.
16. Martin Luther College – New Ulm, Minnesota
Martin Luther College in Minnesota stands out as one of the most unusually vibrant campuses in the United States. With over a third of its population of under 900 students actively engaged in varsity sports and two-thirds participating in intramural sports, it’s no wonder the students radiate happiness throughout their time on campus.
While students at this institution maintain their physical fitness during their academic years, they may find themselves less prepared for the challenges of the real world. With a four-year tuition cost of $93,300, the average return on investment after 20 years can dwindle to a discouraging -$123,200.
17. Johnson University – Kimberlin Heights, Tennessee
Located in Kimberlin Heights, just 12 miles from Knoxville, Tennessee, Johnson University is a Christian institution. Its picturesque setting in this charming town makes it an ideal location for a private school. The entire community seems to radiate team spirit in enthusiastic support of the Johnson University Royals.
The odds of graduating on time are only marginally higher, but according to PayScale, the return on investment for the $89,800 spent on a four-year education at this institution doesn’t quite add up. After 20 years, the return on investment can plummet to a disheartening -$97,900.
18. Claflin University – Orangeburg, South Carolina
With under 2,000 undergraduate students, Claflin University offers a relatively small educational environment. This historically black college holds a unique place in history for awarding the first diplomas in the United States to black women when Alice Moorer and Annie Thortne graduated in 1884.
Despite a graduation rate of over half the students within four years, the college’s recent contributions to society have been less remarkable. With tuition totaling $128,000, graduates may find their return on investment dwindling to a discouraging -$133,900 twenty years after receiving their diplomas.
19. Benedict College – Columbia, South Carolina
Established in 1870 as a teacher’s school in Columbia, South Carolina, Benedict College is a liberal arts institution. It currently serves over 2,000 undergraduate students, who invest $124,000 for a four-year degree. However, it’s worth noting that only 22% of students can anticipate graduating within that timeframe.
Given their extensive history in education, one might expect Benedict College to impart practical skills for the real world. Unfortunately, the 20-year return on investment stands at a disappointing -$76,800.
20. Campbellsville University – Campbellsville, Kentucky
Campbellsville University is situated near Green Lake, a manmade reservoir in Kentucky that provides students with a serene natural environment for their studies. Additionally, the university boasts a satellite campus in Hodgenville, a town within the same state that holds the distinction of being the birthplace of Abraham Lincoln, housing the cabin where the former president was born.
Campbellsville University encompasses colleges specializing in music, education, and art; however, these professions may not always yield substantial earnings. With a tuition fee of $143,000 for four years, graduates might find their return on investment after 20 years resting at a less-than-ideal -$76,800.
21. Talladega College – Talladega, Alabama21.
Talladega College requires an investment of $88,200 for a four-year degree, and approximately 43% of students manage to graduate within that timeframe. This historically black college has its roots in a building originally intended for use as a Baptist academy. Following the Civil War, it was acquired and chartered by the governor.
Talladega College is renowned for its nationally competitive marching band, the Talladega College Tornado Marching Band. However, despite this recognition, the return on investment twenty years after graduation can be disheartening, sinking to a dismal -$156,900.
22. Miles College – Fairfield, Alabama
Even with a generous $1 million donation from Charles Barkley in January 2020, the 1,500 students at Miles College in Fairfield, Alabama, shouldn’t anticipate the most financially rewarding futures. According to PayScale, attending Miles College is associated with one of the least favorable returns on investment.
With a price tag of $90,200 for a four-year degree, it’s important to note that only 17% of students manage to complete their education in that time frame. Looking ahead to two decades after graduation, individuals may face a return on investment that plummets to a disheartening -$164,600.
23. University of Montevallo – Montevallo, Alabama
In Montevallo, Alabama, there is a university named after the town itself. This public liberal arts institution holds a prominent position on the U.S. News & World Report’s list of public schools within the state. The campus is renowned for its scenic beauty, featuring antebellum architecture as a defining characteristic.
The university hosts an annual event known as the Life Raft Debate, during which each professor must make a case for why their expertise is more essential than that of their colleagues. While in-state students face tuition fees of $48,360, those coming from out-of-state are obliged to pay a substantially higher sum of $100,440!
24. University of Science and Arts of Oklahoma – Chickasha, Oklahoma
The University of Science and Arts of Oklahoma, a public institution in Oklahoma, offers education at a relatively affordable rate of just over $6,000 per year for in-state students. It is often regarded as one of the top in-state bargains, providing a quality education. However, the disparity is striking, as out-of-state students are faced with a hefty price tag, paying a staggering $99,700 to attend the same institution.
After two decades, this results in a discouraging return on investment of -$65,500. Therefore, it might be more advisable to explore opportunities within your own state to find better deals on public education.
25. Morris College – Sumter, South Carolina
Morris College is situated in Sumter, South Carolina, and should not be mistaken for Fort Sumter, also located within the state. It falls under the category of historically black colleges, which, regrettably, are prevalent on this list. Surprisingly, considering the town’s population of around 40,000, a significant portion comprises students.
In addition to the 551 students at Morris College, the town of Sumter also hosts students from various other institutions. A four-year education at the college comes with a price tag of $92,200. Regrettably, the 20-year return on investment for Morris College graduates stands at a discouraging -$106,800.
26. The University of Montana Western – Dillon, Montana
Formerly known as the Montana State Normal School, the University of Montana Western is situated in Dillon, Montana. Initially established to educate teachers, it underwent name changes, first becoming the Western Montana College of the University of Montana, and finally adopting its current name in 2000 when it became part of the Montana University system.
With approximately 1,500 students in attendance, this institution sees a graduation rate of 46% within four years, and students are required to pay $109,000 for their education. Unfortunately, the 20-year return on investment stands at -$71,400, making it difficult to justify the high cost of attendance.
27. Maine College of Art – Portland, Maine
Maine College of Art, often referred to as MECA, is considered a hub of art expression and education for many New England students. However, this prestigious institution comes with a steep price tag, with a four-year degree setting students back $184,000.
The cost is indeed astronomical! Attending this school may not lead to a high-earning career with an art degree, as the return on investment stands at a staggering -$163,600. While they claim to “educate artists for life,” it appears that this education may not necessarily prepare students for a successful integration into the workforce.
28. Brewton-Parker College – Mount Vernon, Georgia
Brewton-Parker provides students with a small and intimate educational experience within the peaceful town of Mount Vernon, Georgia. Out of the town’s 2,451 residents, a significant 1,119 of them are students at the college. While some students may appreciate the close connection with the local community, this proximity comes at a substantial cost.
A four-year education at Brewton-Parker College comes with a price tag of $113,000, yet only a mere 17% manage to graduate within the expected timeframe. Unfortunately, the 20-year net return on investment paints a bleak picture at -$92,200, making it a less than favorable option for many.
29. University of South Carolina Aiken – Aiken, South Carolina
The University of South Carolina Aiken, situated in Aiken, South Carolina, is a prominent member of the University of South Carolina system. In recent years, it has gained recognition as the fastest-growing institution within this network, offering cost-effective options for in-state students.
However, for out-of-state students, the four-year tuition reaches a substantial $130,000. Over a span of 20 years, the return on investment for these students amounts to a meager -$66,000, making it difficult to rationalize attending a school far from home.
