Michigan Tech Ranked High by CNBC
Michigan Tech is among “The Top 50 U.S. Colleges that Pay Off the Most” according to CNBC. The cable channel’s website listed Michigan Tech eighth nationally and second in Michigan of the top 25 Public Schools.In releasing its first-ever list, CNBC spotlights 50 schools, 25 public and 25 private, that provide students “the highest average salaries for their tuition dollars.”CNBC began by identifying the true net cost of each college for the typical American student—including tuition, fees, books, supplies, and other expenses—after subtracting scholarships and grants. Using data from Tuition Tracker, a tool created by education-focused nonprofit news organization The Hechinger Report, CNBC looked at the net cost for students from families making between $48,001 and $75,000, an income range established by the Department of Education. This bracket was chosen because it includes the median US household income of $61,372.The net cost was determined by subtracting federal, state, local, and institutional grants and scholarships from the sticker price for first-time, full-time (and, at public universities, in-state) undergraduates based on data provided by the US Department of Education.Tuition-free institutions including military schools like West Point and the US Naval Academy were excluded from the list. According to the CNBC article, the median salary for Michigan Tech alumni with up to five-years experience is $64,600 and the median salary for alumni with 10-plus-years of experience is $110,200. The salary average for early and mid-career is $87,400.The University of Washington, Seattle topped the list of public schools while Stanford University was the top private institution on the list.