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ONU receives high marks for ROI
Ohio Northern University is ranked among the top schools in the nation and in the state of Ohio for its students’ tuition return on investment (ROI) according to a PayScale report released in September. ROI is a function of two things: how much students spend to earn a degree, and how much graduates earn. This high ROI means that ONU graduates earn high starting salaries and are able to pay back student loan debt. In fact, ONU has one of the lowest default rates in the country. While the national default average is 7 percent, ONU's cohort rate is 0.6 percent.
ONU placed 192nd out of 1,052 institutions nationwide (18th percentile) and ranked fifth in the state of Ohio along with other institutions such as Case Western University, Miami University, University of Dayton and Denison University.
In the starting and mid-career-range salaries category, ONU was ranked 10th among 303 private nonprofit institutions and 75th out of 1,003 ranked institutions nationally.
PayScale used self-reported salary information collected through its online pay comparison tools to determine how much graduates of each institution earned. It then determined how much graduates of each school earned (after deducting the cost of their degrees) above the typical pay for a high school graduate over the same period. Unlike most other rankings, Payscale takes into account each school’s six-year graduation rate, providing a more accurate way of assessing a school’s ROI.
Launched in 2002 and headquartered in Seattle, Wash., PayScale is a market leader in global online compensation data. With the world's largest database of individual employee compensation profiles, PayScale provides an immediate and precise snapshot of the job market. Its patent-pending, real-time profiling system indexes custom employee attributes (such as industry-specific certifications) and specific job titles for every industry.