North Carolina Colleges are a Smart Investment

Deciding where to go to college can feel like a daunting task. Choosing where to apply, submitting applications, and hoping to hear good news are only the tip of the iceberg. Once a student is accepted to a school, they face a bigger question: is this college worth the cost? When college sticker prices are tens of thousands of dollars—or a hundred thousand—it’s normal for students and families to wonder if the investment will pay off. But here’s the truth: despite the costs, a college degree at most colleges in North Carolina pays off—and faster than you might think.

I have benefited from going to school in North Carolina as a proud alumna of Davidson College and Duke University. As a prospective student, I was drawn to the state’s reputation for excellent colleges and universities (and beautiful weather). Davidson was the perfect college for me, and it set me up for success after graduation. My professors and the career center helped me secure paid internships, gain research experience, and pursue graduate school at Duke, which helped me land a dream job.

Because paying for college can be complex and uncertain, students and families deserve clear information on which institutions offer the strongest value. Each year, Third Way, a national policy think tank where I work, calculates students’ return on investment at more than 1,500 four-year colleges nationwide, using federal data to compare what they pay out of pocket (which is rarely the startling sticker price) with how much more they earn after going to college than someone with only a high school diploma. 

What do the data show for North Carolina? Promising outcomes.

At 80% of institutions in the state, students receiving financial aid will see a return on their tuition in less than a decade. Many see a return much sooner. Most colleges in North Carolina—public and private—offer real economic value thanks to a combination of affordable tuition and strong earnings.

North Carolina public universities stand out as an especially clear win for students. Of the 16 public four-year colleges in the state, 15 enable students who receive financial aid to recoup their tuition in less than 7 years—and 12 do so within 5. At the University of North Carolina at Chapel Hill, students earn back their tuition in just over a year, and at Elizabeth City State University, it takes just under three.

College can feel like a riskier bet for students from low-income families, especially for first-generation students. Still, the data show North Carolina colleges deliver excellent results for them, too.

Across North Carolina, 70% of institutions prepare low-income students to recoup their tuition within a decade. At public universities, it takes just three and a half years on average. And at eight schools, including Appalachian State University, Davidson College, North Carolina State University, and Wake Forest University, that return comes even faster—in under two-and-a-half years. These colleges meet students where they are financially and help them achieve a real return on their investment.

I know from firsthand experience that my degrees are paying off, and tools to learn about institutions’ return on tuition would have helped my college process as a prospective student. These aren’t just numbers; they are proof points that show when students choose to invest in college in North Carolina, that investment pays off. People with a bachelor’s degree earn $1.2 million more over their lifetimes than those without one. They also report stronger financial wellbeing and are half as likely to be unemployed. And college is increasingly essential because by 2031, the vast majority of good-paying jobs will require a college degree.

As families across the state tour campuses, meet with college counselors, and discuss how to pay for a degree, they deserve facts, not fear. Most North Carolina colleges offer a solid return on investment, and I am grateful that my degrees have transformed my life and helped me secure strong earnings. College costs time and money, but in North Carolina, it’s an investment that pays off.