MELBOURNE, FLA. — Florida Institute of Technology is the top private university in Florida and among the highest ranked private institutions in the country for the low amount of federal loan debt accrued by its students, according to a new list from Forbes magazine.
Examining what it called “elite alma maters” culled from its 2017 Top Colleges list, Forbes this month released a ranking of the top 25 private universities by the lowest median original federal loan amount for all undergraduate borrowers, per the federal College Scorecard. The magazine found that at under $9,400, Florida Tech is No. 11 in the country and tops in the Sunshine State.
Lynn University, the only other Florida school in the list, came in at No. 19. Other universities ranked after Florida Tech included Dartmouth, CalTech and Stanford.
“Even without the in-state tuition perk touted by public colleges, these institutions still deliver a good bang for your buck,” the magazine noted.
“Student success is a core value of Florida Tech, and we’re always pleased when our students can enter the work world with less debt,” said Florida Tech President Dwayne McCay. “That gives them a head start on a successful financial future.”
See the full Forbes list here.
The Forbes recognition is another in a series of accolades highlighting the fiscal merits of a Florida Tech education. Most recently, in June, the 2017 PayScale College ROI Report found that Florida Tech is among the nation’s best universities for return on investment 20 years after graduation.
With a 20-year net ROI for graduates of nearly $500,000, Florida Tech was in the top 8 percent of the more than 1,420 colleges and universities ranked in the annual report from PayScale, a respected provider of cloud compensation software.