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Software engineering has the most compressed path from education to high earnings of any engineering discipline. A software engineering intern at a major tech company earns $40,000–$80,000+ per term — enough to fund a semester of tuition in a single rotation. The question for most software engineering students isn't whether they can afford the degree — it's which program positions them best for the employers and roles they want. It's what the best engineering school is for them.
The answer differs depending on whether you want to work in industry, government/defense, or build your own company.
Funding a Computer/Software Engineering Degree
Tech Industry Co-ops and Internships
Software engineering produces the highest co-op and internship compensation of any engineering discipline:
- Google/Alphabet: $40,000–$70,000+ per term (12–16 weeks)
- Microsoft: $38,000–$65,000 per term
- Meta: $45,000–$75,000 per term
- Amazon: $35,000–$55,000 per term
- Apple: $38,000–$60,000 per term
A student who completes three internship terms at major tech companies can earn $120,000–$200,000+ before graduation — more than the total cost of most software engineering degrees. The key is which programs have the established recruiting relationships to get students in the door for these positions.
CyberCorps: Scholarship for Service
CyberCorps covers full tuition plus $25,000–$38,000/year stipend for software engineering students whose work intersects with cybersecurity — a large and growing share of software development. The scholarship requires commitment to federal employment after graduation.
See our full CyberCorps and cybersecurity programs guide for complete details. Apply at sfs.opm.gov.
SMART Scholarship
Software engineering students working on defense systems, AI, or secure communications qualify for SMART. The DoD is one of the largest software employers in the world — software-intensive SMART positions span every branch and agency. Apply at smartscholarship.org.
NSF GRFP
The NSF GRFP covers software engineering, human-computer interaction, programming languages, and software systems research at the graduate level. $37,000/year stipend plus $16,000/year for three years. Apply at nsfgrfp.org. Deadline: late October.
Note on Software Engineering vs. Computer Science
Most universities don't offer software engineering as a separate degree from computer science — it's typically a concentration, track, or emphasis within a CS or computer engineering degree. A computer science degree from a strong program is fully equivalent for software engineering employment. Schools that offer a distinct SE degree (Carnegie Mellon, RIT, Rochester) are noted below.
The Best Colleges for Software Engineering
Carnegie Mellon University (Pittsburgh, PA)
Ranked #1 for software engineering nationally — offers a dedicated SE degree
CMU is the only top-ranked university that offers software engineering as a fully independent undergraduate degree (not a CS concentration). The School of Computer Science is consistently ranked #1 nationally. CMU graduates have some of the highest software engineering starting salaries in the country — average starting salary above $130,000.
CMU's recruiting relationships with Google, Microsoft, Amazon, Meta, and Apple are among the strongest of any institution. Student interns from CMU regularly secure the highest-paying tech internship positions. The average financial aid grant for CMU freshmen is approximately $42,000.
Co-op positioning: Top-tier access to $60,000–$80,000+ tech internship terms. Three terms = potential $180,000–$240,000 in undergraduate earnings.
Financial snapshot: Strong need-based aid; average grant $42,000. High sticker but co-op earnings can offset significantly.
Stanford University (Stanford, CA)
Best for: Entrepreneurship, AI/ML, Silicon Valley access
Stanford's computer science department is where a significant fraction of Silicon Valley was invented. For students interested in entrepreneurship, AI, or working at or founding tech companies, Stanford's ecosystem is unmatched. The proximity to Google, Apple, Meta, and hundreds of startups creates internship access that no other institution can fully replicate.
Stanford is need-blind for domestic undergraduates and meets 100% of demonstrated need. For students with significant financial need, Stanford is often cheaper than many state schools after institutional aid.
Financial snapshot: Need-blind; avg $70K aid package. Strong recruiting across all major tech companies.
MIT (Cambridge, MA)
Best for: Systems engineering, defense software, research
MIT's EECS (Electrical Engineering and Computer Science) department produces graduates with exceptional depth in systems programming, distributed systems, and AI research. MIT's research environment creates strong NSF GRFP and SMART Scholarship pathways for students interested in government and defense software.
MIT is need-blind and meets 100% of demonstrated need. SMART Scholarship placement from MIT is strong for defense software systems roles.
Financial snapshot: Need-blind; no loans under $90K. Strong SMART + GRFP placement.
University of Washington (Seattle, WA)
Best value for tech industry software engineering
UW's Paul G. Allen School of Computer Science & Engineering is consistently ranked top 5 nationally and produces more software engineers hired by Amazon and Microsoft than virtually any other institution — both companies are headquartered in Seattle. The density of Seattle tech employment means co-op and internship access is exceptional even for students who don't get into FAANG.
Washington residents benefit from in-state tuition and Washington state grant programs. The direct pipeline to Amazon and Microsoft from UW creates co-op opportunities that rival CMU and Stanford at a fraction of the cost for in-state students.
Financial snapshot: In-state tuition for WA residents (~$12,000/year). Amazon/Microsoft co-op pipeline: $40,000–$65,000/term.
Georgia Institute of Technology (Atlanta, GA)
Best value nationally; strong online MS option
Georgia Tech's computer science program is consistently top 10 nationally. Its online Master of Science in Computer Science (~$10,000 total) is the best value graduate software engineering degree in the country. For career changers entering software engineering at the graduate level, Georgia Tech's OMS CS is the clearest path to a credential at minimum cost.
Georgia Tech in-state tuition for undergraduates is approximately $12,000/year. Strong co-op program with Google, Microsoft, and defense software contractors.
Financial snapshot: ~$12,000/year in-state UG; ~$10,000 total for OMS CS. Best value at both levels.
University of Illinois Urbana-Champaign (Champaign, IL)
Best for: Enterprise software, tech consulting pipelines
Illinois's computer science department is consistently ranked top 5 nationally and has particularly strong employer relationships with tech companies and consulting firms — Amazon, Google, Microsoft, Accenture, and McKinsey all recruit heavily from Illinois CS. The university's Research Park hosts multiple tech company offices on campus, creating exceptional co-op access.
Illinois in-state tuition is approximately $15,000/year. The Research Park co-op model is particularly strong for students targeting enterprise software and consulting roles.
Financial snapshot: In-state tuition for IL residents. Research Park co-op: $35,000–$55,000/term.
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