Increasing concerns regarding the value of higher education in the USA have motivated several organizations to calculate the return on investment (ROI) for college education by employing diverse methodologies. This study evaluates these methodologies by using data from a survey of alumni of Rosen College of Hospitality Management at the University of Central Florida. The results reveal that the highly publicized low ROI for college education might be inaccurate, confusing and misleading for several reasons, among which is the assumption of zero income while studying, causing debt to be the total of a student’s expenses. Data reveal that Rosen College graduates who work in mandatory paid internships and hold part-time jobs could be debt-free within two years if they pay 20% of their salary toward their debt. A more valid and reliable education ROI calculation method is proposed for the USA and other countries where students must pay tuition and acquire loans to cover their educational expenses.