The organization College
Factual ranks South Dakota School of Mines
& Technology as the best engineering school for the money out of 302
engineering schools in the United States.
The university’s affordable tuition
alongside the high earning value of gradates places Mines above other
engineering schools when it comes to return on investment. The
SD Mines placement rate for recent graduates is 97 percent, with an average
starting salary of more than $61,300.
Unlike some other high-value
universities, admission to SD Mines is not overly competitive. Most applicants who meet the minimum
requirements are accepted. Admission is given to more than 80 percent of
all applicants and the university offers an array of scholarships and financial aid.
“SD Mines welcomes people from all walks of life.
Anyone who is qualified and willing to put in the work needed to succeed in
science and engineering disciplines deserves admission to our university,” says
Mines President Jim Rankin.
This Forbes magazine article titled “How
To Get Through College Debt-Free, And Without Rich Parents” further lays
out the value of an education from SD Mines when compared to other
universities. In this piece, Rick
Kahler, a wealth advisor and president of Kahler Financial Group, points
out that, “While graduating from MIT might sound impressive, the average
four-year cost of about $200,000 doesn’t guarantee any better paying job than
graduating from the South Dakota School of Mines & Technology at an average
four-year cost of about $82,000. MIT students received average salary offers of
$70,300 in 2015, according to Business Insider, while SDSM&T students
received $61,346 in 2016. Viewing this another way, the difference in total
cost between MIT and SDSM&T is about $118,000. For that you get an extra
$9,000 a year in earnings. However, if you apply all of the extra earnings to
amortizing the extra $118,000 cost at 5%, it will take you over 20 years to
break even. That is not a good deal."
SD Mines also did well in the
overall value category – which includes both engineering and non-engineering
schools. The university is ranked 26 out of 1,510 colleges nationwide in the
best value ranking overall. This places SD Mines in the Top 5 percent
nationally of all colleges for value. The methodology
behind this best value ranking includes variables such as the average
yearly cost of the school, the average time students take to graduate, and the
quality the school provides. This means schools that rank highly are offering a
good value for the money students pay to attend.
College Factual also highly ranked several
of Mines engineering degrees for a high return on investment. The organization
ranked the chemical engineering
program the best value in the nation. The website
states, “If you're looking for the best education available in Chemical
Engineering you simply can't do better than South Dakota School of Mines and
Technology. Experience a high concentration on chemical engineering in the
program at South Dakota School of Mines and Technology. The location in a
significant city is wonderful for students seeking ample chances for
networking, experience, and discovery.”
The university’s civil
and environmental engineering, mechanical
engineering and industrial engineering
programs each ranked second in value in the United States. Those interested in
exploring the university more can find information and a virtual tour on the SD Mines website.