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New rankings put New Jersey schools high on the list for best return on investment

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Rutgers is one of the many schools ranked on the list for best return on investment.
Rutgers is one of the many schools ranked on the list for best return on investment. - (NJBIZ file)

It pays to go to college in New Jersey — literally. Payscale, the creators of the largest salary database in the world, have analyzed how much undergrads pay to attend more than 1,300 different institutions, and what they can expect to make in the 20 years after graduation. All that data revealed eight Garden State institutions fall in the top 250 when it comes to return on investment.

The list looks at 20-year return on investment, compared to total cost, which includes room and board, books and supplies, in addition to tuition.

When financial aid is factored into the equation, Stevens Institute in Hoboken lands near the very top of the list, beating out Princeton to earn a spot at No. 5. Without financial aid, Stevens' sticker price versus the 20-year earning potential of its graduates still puts it in the top 10, coming in at No. 9. The 2013 cost at Stevens is $250,900. The 20-year ROI is $722,400.

Here's a look at the other New Jersey institutions that made it to the annual list (without factoring in financial aid):

No. 13: Princeton University

2013 cost: $217,300

20-year ROI: $690,800

No. 42: New Jersey Institute of Technology (in-state tuition)

2013 cost: $137,700

20-year ROI: $588,500

No. 62: New Jersey Institute of Technology (out-of-state tuition)

2013 cost: $189,400

20-year ROI: $536,800

No. 125: Rutgers University – New Brunswick (in-state tuition)

2013 cost: $119,300

20-year ROI: $446,400

No. 157: Rutgers University – Newark (in-state tuition)

2013 cost: $125,700

20-year ROI: $414,800

No. 159: The College of New Jersey (in-state tuition)

2013 cost: $115,700

20-year ROI: $412,700

No. 183: Rutgers University – New Brunswick (out-of-state tuition)

2013 cost: $171,100

20-year ROI: $394,700

No. 191: Seton Hall University

2013 cost: $201,800

20-year ROI: $384,000

No. 200: Ramapo College of New Jersey (in-state tuition)

2013 cost: $116,100

20-year ROI: $375,500

No. 203: The College of New Jersey (out-of-state tuition)

2013 cost: $155,300

20-year ROI: $373,100

No. 215: Bloomfield College

2013 cost: $172,900

20-year ROI: $366,800

No. 225: Rutgers University – Newark (out-of-state tuition)

2013 cost: $179,300

20-year ROI: $361,300

For the full Payscale report, click here.

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