Review and compare your expected return on investment on your degree from Drake , below.
Understanding your expected return on investment on your degree from Drake University can help you decide if attending Drake is a smart financial decision.
College is expensive and every year spent getting your degree is a year of lost wages and additional expenses. To determine when you will make up for the costs of college (your Return on Investment), we will look at the estimated cost of a degree and the average starting salary of graduates from Drake University .
|Average yearly cost||$38,000|
|Average years to graduate||4.1|
|Average starting salary||$54,000|
Do you know what major you want to pursue at Drake University ? Calculate a major specific return on investment estimate here.
To determine the year when you catch up, we need to factor in the average earnings of a high school graduate. To simplify things, we will assume that the high school graduate starts out earning their full average salary of $30,000 and lives at home for free, while you must pay for your living expenses during college. After college, we will assume that you both have the same expenses.
The earnings from an average graduate at Drake University will surpass those of a high school graduate in 13 years.
For a more detailed and accurate look at early/mid-career earnings see the chart below.
Setting aside the time value of money, after 30 years, an undergraduate degree from Drake University is worth about $1,428,000 more than what it would cost you.
Your total earnings of $1,585,000 from your initial investment in tuition, fees and other expenses of about $157,000 gives you an annualized return of
If instead of going to college, you put that initial investment into Treasury Bills for 30 years at 5% you would have about $678,554