Analysis of Cost and Return on Educational Investment of Students in Faculty of Management Technology at Rajamangala University of Technology Srivijaya Nakhon Si Thammarat Campus (Sai Yai)

Abstract

This study aimed to analyze the cost and return on educational investment of students in the Faculty of Management Technology of Rajamangala University of Technology Srivijaya Nakhon Si Thammarat Campus (Sai Yai). The samples used in this study were 401 students in the Faculty of Management Technology of Rajamangala University of Technology Srivijaya, Nakhon Si Thammarat Campus (Sai Yai) in the academic year of 2016. The samples were divided into 2 groups including 180 students of a 4-year program and 221 students of a 4-year transfer program. Questionnaires were employed to collect the data about the general condition of the students and their costs on educational investment. The collected data was analyzed based on the principle of cost analysis and the rate of return on investment (Cost-Benefit Analysis) by presenting the results into 3 areas: Net Present Value (NPV), Benefit Cost Ratio (BCR), and Internal Rate of Return Analysis (Internal Rate of Return: IRR). The results revealed that 1) the personal cost of students in the 4-year program was 532,148.75 baht per person. The student's personal return had a net present value of 342,840.49 baht. The return on equity ratio was 1.64 baht and the internal rate of return was 15.48 baht. 2) The personal cost of the students in the 4-year transfer program was equivalent to 348,652.0 baht per person. The net present value was 748,934.50 baht. The return on equity was 3.15 baht and the internal rate of return was 14.46 baht. This present study could be concluded that the assessment results are worth investing in this education.