As one who graduated from the University of Rhode Island almost — amazingly — a decade ago, I’m not surprised that the school is considered to be a good deal:

The cost of attending the University of Rhode Island is going up, but the editors at one financial magazine say it’s still a bargain — and an investment that pays off in the long run.
According to next month’s issue of SmartMoney magazine, URI ranks 15th in a nationwide study of private and public colleges analyzing the connection between tuition costs and graduates’ earning power. The magazine examined colleges based on “their ability to deliver the best return on investment,” and URI ranked the highest institution in New England. Brown University was ranked 36th. …
On average, graduates of Ivy League and liberal-arts institutions earned more than graduates of public institutions three years after graduation — $51,000 a year compared with $48,500, and the gap widens more after 15 years.
But when college costs are factored in, the “long-term payback” picture shifts, ranking Georgia Tech far above Dartmouth and Texas A&M above Swarthmore, for example.

The reality, in my opinion, is that a motivated student can derive an excellent education from any school, but doing so is better facilitated at higher-end institutions. For its part, URI provided strong and innovative — and improving — educational opportunities when I was there, and things seem to have continued on the upswing.
The travesty of the university is that the state fails to follow up on the boon by giving graduates a reason (or even the ability) to remain in the state and apply their skills and knowledge.