(Hoboken, N.J. – Oct. 23, 2019) -- Stevens Institute of Technology ranked No. 2 in N.J. as a smart investment choice for undergraduates, according to personal finance website WalletHub. When compared against more than 1,000 colleges and universities across the U.S., Stevens ranked No. 56, placing in the 94th percentile as a top-performing school at the lowest possible cost to undergraduates.
The ranking underscores Stevens reputation as a strategic investment in areas such as career outcomes, post-attendance median salary and student-loan default rates. With 96 percent of students securing jobs and other first-destination outcomes within six months of graduation at an average starting salary of $71,400, Stevens three-year cohort default rate is 0.9 percent compared to 10.1 percent, the national average – suggesting students have the ability to pay their debt obligation.
Graduates with only a bachelor’s degree also boast a median mid-career salary of $139,900 after 10 years of experience in a field.
WalletHub analyzed 33 key measures, with the dataset grouped into seven categories: student selectivity, cost & financing, faculty resources, campus experience, educational outcomes and career outcomes. The metrics range from pre-attendance to post-attendance measures, from SAT scores, financial aid, student-faculty ratio and retention of first-year students to loan default rates, return on investment and full-time employment after six months – all areas of core strength for Stevens.
Approximately 98.5 percent of incoming students are awarded financial aid (government or institutional grant of scholarship aid), while Stevens first-year retention rate is 95 percent compared to 74 percent, the national average. Stevens alumni also enjoy a 20-year net return on investment between $832,000 and $932,000 dependent on whether or not they received financial aid while attending Stevens.
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About Stevens Institute of Technology
Stevens Institute of Technology is a premier, private research university situated in Hoboken, New Jersey overlooking the Manhattan skyline. Since our founding in 1870, technological innovation has always been the hallmark and legacy of Stevens’ education and research. Within the university’s three schools and one college, 6,900 undergraduate and graduate students collaborate closely with faculty in an interdisciplinary, student-centric, entrepreneurial environment. A range of academic and research programming spanning business, computing, engineering, the arts and other fields actively advances the frontiers of science and leverages technology to confront our most pressing global challenges. The university is consistently ranked among the nation’s elite for return on tuition investment, career services and the mid-career salaries of alumni.