College ROI

Smarter Choices, Brighter Futures
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Carleton College

Northfield, MN 2,019 Undergrads 93.0% Grad Rate
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Total Cost
$81,350
Sticker Price
Avg Net Price
$27,320
After Aid
Median Earnings
$75,525
10yr Post-Entry

Vs. Peer Institutions

Net Price$27,320
Peer Midpoint: $19,729.5
Earnings (10yr)$75,525
Peer Midpoint: $53,747
Graduation Rate93.0%
Peer Midpoint: 58.5%
Socio-Economic Diversity
Pell Grant Recipients14.3%
Enrollment Status
Full-Time100.0%
Economic Outcomes
Earn More than HS77.6%

Admissions Profile

Acceptance
22.3%
SAT Avg
1,491
SAT Reading
25th: 71072975th: 760
SAT Math
25th: 72075075th: 790
ACT Composite
25th: 323375th: 34

ROI Sensitivity Analysis

This analysis tests three cost scenarios (Scholarship, Average Net Price, Full Sticker Price) to show how college costs impact your long-term return compared to the average student and a high school graduate.

Lifetime Value Added (NPV)

Institution Lifetime NPV
Vs Median Peer
Vs HS Grad
Zero Cost (Scholarship)$0
+$634k
+$237k
+$149k
Median Cost$27k/yr
+$535k
+$139k
+$51k
Full Cost$81k/yr
+$341k
-$56k
-$143k

ROI Efficiency Metrics

Break-Even Age
Return on Inv. %
Zero Cost (Scholarship)$0
30
∞
Median Cost$27k/yr
44
52%
Full Cost$81k/yr
Never
-49%
Analysis Assumptions:
  • Starting Salary: Estimated from the 10-year median earnings (assuming 2% annual growth from graduation).
  • Comparisons: "Vs Median Peer" compares to the median student nationwide in a similar level program. "Vs HS Grad" compares to a median high school graduate.
  • Break-Even: The age at which the college investment net income exceeds the median high school graduate's lifetime earnings.
  • NPV: Net Present Value of all future earnings minus costs and taxes, discounted at 7.8%.

Social Impact ROINew

Measures the societal return on a donor's investment. Calculated as the incremental pre-tax lifetime earnings vs. HS grad, divided by the tax-adjusted donation cost.

Donor Return-1%

Gov. Pell Grant ROINew

Measures the government's return on Pell Grants via increased tax revenue. Calculated as the portion of incremental lifetime taxes (discounted at 5.4%) attributed to the Pell Grant investment.

Taxpayer Return-65%
Important Note: Your ROI with any major will depend on the cost you pay to attend the program, and your starting salary. Both vary significantly across institutions. We encourage you to explore the ROI of a specific program variant by selecting the Program title of the credential level you are interested in. You will then have a more detailed return analysis for programs at specific institutions. We also encourage you to use the ROI calculator with your specific estimates of cost and salary.

Program ROI Analysis

Bachelor's Degrees

Biology, General
BachCIP: 2601
Median Debt
$17,929
Earnings (5yr)
$61,887
Lifetime Value Added
-$42k
Chemistry
BachCIP: 4005
Median Debt
$17,000
Earnings (2yr)
$36,141
Lifetime Value Added
-$235k
Computer Science
BachCIP: 1107
Median Debt
$18,254
Earnings (5yr)
$121,569
Lifetime Value Added
+$406k
Economics
BachCIP: 4506
Median Debt
$19,500
Earnings (5yr)
$107,997
Lifetime Value Added
+$305k
English Language and Literature, General
BachCIP: 2301
Median Debt
$21,167
Earnings (2yr)
$22,329
Lifetime Value Added
-$361k
Film/Video and Photographic Arts
BachCIP: 5006
Median Debt
-
Earnings (5yr)
$55,953
Lifetime Value Added
-$89k
Fine and Studio Arts
BachCIP: 5007
Median Debt
-
Earnings (2yr)
$21,964
Lifetime Value Added
-$364k
Mathematics
BachCIP: 2701
Median Debt
$11,500
Earnings (2yr)
$37,568
Lifetime Value Added
-$222k
Physics
BachCIP: 4008
Median Debt
-
Earnings (2yr)
$42,774
Lifetime Value Added
-$176k
Political Science and Government
BachCIP: 4510
Median Debt
$18,700
Earnings (2yr)
$33,993
Lifetime Value Added
-$254k
Psychology, General
BachCIP: 4201
Median Debt
-
Earnings (5yr)
$47,957
Lifetime Value Added
-$154k
Social Sciences, Other
BachCIP: 4599
Median Debt
-
Earnings (2yr)
$26,353
Lifetime Value Added
-$324k

Note: Lifetime Value Added is the Net Present Value (NPV) of estimated career earnings relative to a median high school graduate, accounting for this institution's average cost and taxes. Computed over a career to retirement age.

For graduate programs (Master's, Doctoral, etc.), the calculation assumes a starting age of 22 (after undergraduate completion) and does not include the sunk costs of prior degrees. It represents the value added of the graduate degree decision moving forward. These Lifetime Value Added results should not be compared with those Undergraduate Certificates, Associates or Bachelors starting at age 18.