Best Value Colleges in Indiana

Home of the Indianapolis Colts and the Indianapolis 500, the Hoosier state is also home to some of the top ranked colleges in terms of a high return on college tuition dollars. Indiana has plenty of choices when it comes to choosing a college, including a variety of both public and private schools. Using PayScale’s ROI report as a guide, you can easily research the college that’s going to give you the highest 20 year-net ROI, which is the amount of money you will earn 20 years after graduating from a specific college.

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Rank 
School Name 
Annual ROI
 
20 Year ROI annualized to represent the % of expected ROI received each year after graduation.
Annual ROI
 
20 Year ROI annualized to represent the % of expected ROI received each year after graduation.
Annual ROI
 
20 Year ROI annualized to represent the % of expected ROI received each year after graduation.
Annual ROI
 
20 Year ROI annualized to represent the % of expected ROI received each year after graduation.
20 Year Net ROI
 
Difference between 20 Year Median Pay for a bachelor’s grad and 24 Year Median Pay for a high school grad minus Total 4 Year Cost.
20 Year Net ROI
 
Difference between 20 Year Median Pay for a bachelor’s grad and 24 Year Median Pay for a high school grad minus Total 4 Year Cost.
20 Year Net ROI
 
Difference between 20 Year Median Pay for a bachelor’s grad and 24 Year Median Pay for a high school grad minus Total 4 Year Cost.
20 Year Net ROI
 
Difference between 20 Year Median Pay for a bachelor’s grad and 24 Year Median Pay for a high school grad minus Total 4 Year Cost.
Total 4 Year Cost
 
Full cost, including tuition & fees, room & board, and books & supplies. Actual net cost may vary based on a student’s academic success and family income. Source: IPEDS
Total 4 Year Cost
 
Full cost, including tuition & fees, room & board, and books & supplies. Actual net cost may vary based on a student’s academic success and family income. Source: IPEDS
Graduation Rate
 
% of full-time, first-time degree seeking undergrad students who began their studies at the given school and graduate within 6 years. Source: IPEDS
Typical Years to Graduate
 
# of years it takes for at least 65 percent of graduates from a given school to receive their diplomas. Source: IPEDS
Average Loan Amount
 
Received by full-time, first-time degree seeking undergrad students, multiplied to represent amount over four years. Includes all Title IV loans and all institutionally- and privately-sponsored student loans. Source: IPEDS
% Grant Money Received
 
% of full-time, first-time undergrads who received local, state, federal, or institutional grant aid in the 2012-2013 academic year. Source: IPEDS
17.4%7.4%9.4%9.4%$751,000$751,000$827,000$827,000$239,000$239,00082%4$45,80010%
1Rose-Hulman Institute of Technology(Private)
Annual ROI7.4%
Annual ROI7.4%
Annual ROI9.4%
Annual ROI9.4%
20 Year Net ROI$751,000
20 Year Net ROI$751,000
20 Year Net ROI$827,000
20 Year Net ROI$827,000
Total 4 Year Cost$239,000
Total 4 Year Cost$239,000
Grad Rate82%
Time to Graduate4
Loan Amt$45,800
Grant Money Received10%
26.1%6.1%11.0%11.0%$571,000$571,000$723,000$723,000$254,000$254,00095%4$24,60010%
2University of Notre Dame(Private)
Annual ROI6.1%
Annual ROI6.1%
Annual ROI11.0%
Annual ROI11.0%
20 Year Net ROI$571,000
20 Year Net ROI$571,000
20 Year Net ROI$723,000
20 Year Net ROI$723,000
Total 4 Year Cost$254,000
Total 4 Year Cost$254,000
Grad Rate95%
Time to Graduate4
Loan Amt$24,600
Grant Money Received10%
310.2%10.4%14.0%14.3%$557,000$560,000$602,000$605,000$92,300$89,50076%5$31,00017%
3Purdue University-Main Campus(In-State)
Annual ROI10.2%
Annual ROI10.4%
Annual ROI14.0%
Annual ROI14.3%
20 Year Net ROI$557,000
20 Year Net ROI$560,000
20 Year Net ROI$602,000
20 Year Net ROI$605,000
Total 4 Year Cost$92,300
Total 4 Year Cost$89,500
Grad Rate76%
Time to Graduate5
Loan Amt$31,000
Grant Money Received17%
46.7%N/A10.9%N/A$534,000N/A$643,000N/A$201,000N/A72%4$28,60023%
4Wabash College(Private)
Annual ROI6.7%
Annual ROIN/A
Annual ROI10.9%
Annual ROIN/A
20 Year Net ROI$534,000
20 Year Net ROIN/A
20 Year Net ROI$643,000
20 Year Net ROIN/A
Total 4 Year Cost$201,000
Total 4 Year CostN/A
Grad Rate72%
Time to Graduate4
Loan Amt$28,600
Grant Money Received23%
57.0%7.1%8.7%8.8%$482,000$485,000$527,000$530,000$168,000$165,00076%5$31,00017%
5Purdue University-Main Campus(Out-of-State)
Annual ROI7.0%
Annual ROI7.1%
Annual ROI8.7%
Annual ROI8.8%
20 Year Net ROI$482,000
20 Year Net ROI$485,000
20 Year Net ROI$527,000
20 Year Net ROI$530,000
Total 4 Year Cost$168,000
Total 4 Year Cost$165,000
Grad Rate76%
Time to Graduate5
Loan Amt$31,000
Grant Money Received17%
66.6%6.7%9.9%10.0%$394,000$395,000$463,000$465,000$152,000$151,00033%5$36,10068%
6Indiana Institute of Technology(Private)
Annual ROI6.6%
Annual ROI6.7%
Annual ROI9.9%
Annual ROI10.0%
20 Year Net ROI$394,000
20 Year Net ROI$395,000
20 Year Net ROI$463,000
20 Year Net ROI$465,000
Total 4 Year Cost$152,000
Total 4 Year Cost$151,000
Grad Rate33%
Time to Graduate5
Loan Amt$36,100
Grant Money Received68%
78.1%8.1%11.6%11.6%$368,000$368,000$414,000$414,000$97,600$97,60076%4$30,40019%
7Indiana University-Bloomington(In-State)
Annual ROI8.1%
Annual ROI8.1%
Annual ROI11.6%
Annual ROI11.6%
20 Year Net ROI$368,000
20 Year Net ROI$368,000
20 Year Net ROI$414,000
20 Year Net ROI$414,000
Total 4 Year Cost$97,600
Total 4 Year Cost$97,600
Grad Rate76%
Time to Graduate4
Loan Amt$30,400
Grant Money Received19%
84.6%4.7%8.1%8.4%$332,000$338,000$442,000$449,000$229,000$222,00085%4$24,20017%
8DePauw University(Private)
Annual ROI4.6%
Annual ROI4.7%
Annual ROI8.1%
Annual ROI8.4%
20 Year Net ROI$332,000
20 Year Net ROI$338,000
20 Year Net ROI$442,000
20 Year Net ROI$449,000
Total 4 Year Cost$229,000
Total 4 Year Cost$222,000
Grad Rate85%
Time to Graduate4
Loan Amt$24,200
Grant Money Received17%
98.0%7.9%10.1%9.9%$317,000$315,000$345,000$343,000$86,500$88,70032%5$21,70042%
9Purdue University-Calumet Campus(In-State)
Annual ROI8.0%
Annual ROI7.9%
Annual ROI10.1%
Annual ROI9.9%
20 Year Net ROI$317,000
20 Year Net ROI$315,000
20 Year Net ROI$345,000
20 Year Net ROI$343,000
Total 4 Year Cost$86,500
Total 4 Year Cost$88,700
Grad Rate32%
Time to Graduate5
Loan Amt$21,700
Grant Money Received42%
107.8%7.5%11.2%10.7%$311,000$306,000$352,000$347,000$88,200$93,30046%5$26,10041%
10Indiana University-Purdue University-Indianapolis(In-State)
Annual ROI7.8%
Annual ROI7.5%
Annual ROI11.2%
Annual ROI10.7%
20 Year Net ROI$311,000
20 Year Net ROI$306,000
20 Year Net ROI$352,000
20 Year Net ROI$347,000
Total 4 Year Cost$88,200
Total 4 Year Cost$93,300
Grad Rate46%
Time to Graduate5
Loan Amt$26,100
Grant Money Received41%
114.8%4.9%8.1%8.3%$288,000$293,000$374,000$379,000$187,000$182,00056%4$32,40034%
11Trine University(Private)
Annual ROI4.8%
Annual ROI4.9%
Annual ROI8.1%
Annual ROI8.3%
20 Year Net ROI$288,000
20 Year Net ROI$293,000
20 Year Net ROI$374,000
20 Year Net ROI$379,000
Total 4 Year Cost$187,000
Total 4 Year Cost$182,000
Grad Rate56%
Time to Graduate4
Loan Amt$32,400
Grant Money Received34%
126.2%6.1%7.6%7.5%$282,000$280,000$310,000$308,000$121,000$124,00032%5$21,70042%
12Purdue University-Calumet Campus(Out-of-State)
Annual ROI6.2%
Annual ROI6.1%
Annual ROI7.6%
Annual ROI7.5%
20 Year Net ROI$282,000
20 Year Net ROI$280,000
20 Year Net ROI$310,000
20 Year Net ROI$308,000
Total 4 Year Cost$121,000
Total 4 Year Cost$124,000
Grad Rate32%
Time to Graduate5
Loan Amt$21,700
Grant Money Received42%
134.6%4.6%6.0%6.0%$276,000$276,000$321,000$321,000$190,000$190,00076%4$30,40019%
13Indiana University-Bloomington(Out-of-State)
Annual ROI4.6%
Annual ROI4.6%
Annual ROI6.0%
Annual ROI6.0%
20 Year Net ROI$276,000
20 Year Net ROI$276,000
20 Year Net ROI$321,000
20 Year Net ROI$321,000
Total 4 Year Cost$190,000
Total 4 Year Cost$190,000
Grad Rate76%
Time to Graduate4
Loan Amt$30,400
Grant Money Received19%
144.2%4.5%6.6%7.1%$267,000$278,000$343,000$354,000$208,000$197,00074%4$35,60015%
14Butler University(Private)
Annual ROI4.2%
Annual ROI4.5%
Annual ROI6.6%
Annual ROI7.1%
20 Year Net ROI$267,000
20 Year Net ROI$278,000
20 Year Net ROI$343,000
20 Year Net ROI$354,000
Total 4 Year Cost$208,000
Total 4 Year Cost$197,000
Grad Rate74%
Time to Graduate4
Loan Amt$35,600
Grant Money Received15%
154.2%4.5%8.1%8.7%$249,000$258,000$350,000$360,000$194,000$185,00066%4$29,90031%
15Valparaiso University(Private)
Annual ROI4.2%
Annual ROI4.5%
Annual ROI8.1%
Annual ROI8.7%
20 Year Net ROI$249,000
20 Year Net ROI$258,000
20 Year Net ROI$350,000
20 Year Net ROI$360,000
Total 4 Year Cost$194,000
Total 4 Year Cost$185,000
Grad Rate66%
Time to Graduate4
Loan Amt$29,900
Grant Money Received31%

* N/A indicates school does not have an on campus living option.

The Rose-Hulman Institute of Technology, a private school located in south east Indiana, makes a big impact on our list, likely because its curriculum focuses on engineering and natural sciences. RHIT has a reported enrollment of around 2,100 students. If smaller class sizes and more one-on-one attention is what you seek from a college, RHIT is an excellent choice. RHIT has a very active Greek life system, with about 69 percent of the students involved.

Located just northeast of the bustling metro of Indianapolis, Purdue University is a worthwhile public college to consider. Purdue is well-known for its air and space programs, as well as engineering and science. Purdue was even the first college in the US to offer such programs in air and space. If you’re thinking about attending Purdue, you will be in the company of over 39,000 other undergraduate students, a large campus indeed. When not in the classroom, Purdue students can take advantage of a variety of student life activities, including cheering on the famous Purdue football team, the Boilermakers. Purdue is also home to the third-largest Greek system in the US with around 5,000 students participating.

For men, Wabash College offers a unique college experience as it one of the only all-men’s schools in Indiana. This small, liberal arts college has less than 1,000 students enrolled, but is sure to offer smaller class sizes which some students find advantageous. Wabash’s academics focus mostly on the natural sciences, humanities, arts, and social sciences. The close-knit campus is also active in fraternity life. Wabash houses nine fraternities, and around 60 percent of the students are affiliated with some type of Greek life organization.


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