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It is a widely accepted belief that some of the most well-known universities, including those in the Ivy League sector, are ones guaranteeing a top-notch salary after graduation; however, in a groundbreaking effort to get our nation up to par with where student debt lies with individuals holding MBA's, SoFi has created the first ever Return on Education (ROEd) MBA rankings.
In easy to digest information, SoFi breaks down which universities offer MBA programs with the highest salary to the worst salary-to-debt ratio. The results are based on a 21-month period of 240,000 student loan refinancing applications and can be represented as the "most objective, factually accurate and defensible data that can't be found or replicated anywhere else," as stated by SoFi.
The University rendering the highest salary rate is Columbia University with the average salary base at $183,472, although they are ranked number eight according to US News due to the 1.5 times salary-to-debt ratio with graduates accumulating an average debt of $121,213. Ranked at number one is Sanford University. The average salary is slightly lower than Columbia at $177,590, with graduates having to pay back an average of $76,987.
MBA schools on the list for the best salary-to-debt ratio include New York Institute of Technology where graduates earn an average salary of $126,068 but only accumulate an average of $50,308 during the course of their program. The University of Kansas comes in at number 10 on this list with graduates holding an average debt of $46,245, but earning an average of $97,086 - meaning they earn 2.1 times their debt amount.
Claremont Graduate University ranks in as the worst school for salary-to-debt ratio within their MBA programs. Graduates earn an average salary of $93,666 but have an astonishing payback amount higher than the earned salary at $95,625. The well known Kaplan University is also among the worst schools where the average salary is lower than the average outstanding student debt, ranking in at number 8. Graduates earn an average of $65,201, yet accumulate an average debt of $91,429.
This colorful infographic provides insight to students considering graduate school and answers some questions on whether or not they are prepared to take on the debt associated with MBA programs at their University of choice.
Be sure to check out our top recommended student debt companies.