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Veronica Garabelli// March 28, 2014//
Lexington-based Washington & Lee University has been named to Forbes’ “Top 50 return-on-investment (ROI)” list.
The ranking only looked at private colleges. Princeton University took the top spot.
To compile the list, Forbes’ staffer Matt Schifrin came up with a formula for measuring the value of a college degree called the Grateful Grads (GG) Index.
The index ranks colleges by median amount of private donations per student over a 10-year period and average percentage of graduates who donate each year to their colleges (aka. the alumni participation rate).
“The idea is that the best colleges are the ones that produce successful people who make enough money during their careers to be charitable and feel compelled to give back to the schools that contributed to their success,” Schifrin explains.
Washington & Lee was 23rd on the list with a GG Index of 90.5. The university’s 10-year median private donation per student was $14,018 and the average alumni participation rate was 38 percent. According to Washington & Lee’s website, the standard cost of attendance for 2014-2015 is $61,310 for undergraduates and $64,150 for law students.
