College ROI

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Carleton College

Northfield, MN 2,086 Undergrads 91.4% Grad Rate
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Total Cost
$84,893
Sticker Price
Avg Net Price
$25,407
After Aid
Median Earnings
$66,841
4yr Post-Grad

Vs. Peer Institutions

Net Price$25,407
Peer Midpoint: $20,081
Earnings (4yr Post-Grad)Completers only after graduation
$66,841
Peer Midpoint: $60,428
Earnings (10yr Post-Enroll)All enrolled after enrollment
$75,525
Peer Midpoint: $53,763
Graduation Rate91.4%
Peer Midpoint: 58.9%
Average Starting Age19.4
Socio-Economic Diversity
Pell Grant Recipients15.7%
Enrollment Status
Full-Time100.0%
Economic Outcomes
Earn More than HS77.6%

Admissions Profile

Acceptance
20.4%
SAT Avg
1,517
SAT Reading
25th: 72072975th: 770
SAT Math
25th: 73075075th: 790
ACT Composite
25th: 323375th: 34

ROI Sensitivity Analysis
Assuming 4 Years to Graduation

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
+$590k
+$123k
+$105k
Median Cost$25k/yr
+$498k
+$31k
+$14k
Full Cost$85k/yr
+$284k
-$183k
-$200k

ROI Efficiency Metrics

Break-Even Age
Return on Inv. %
Zero Cost (Scholarship)$0
32
∞
Median Cost$25k/yr
55
15%
Full Cost$85k/yr
Never
-66%
Analysis Assumptions:
  • Starting Salary: Estimated from the 4-year post-graduation 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-32%

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-75%
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, or for more sophisticated analysis, the Guided ROI Interview, with your specific estimates of cost and salary.

Program ROI Analysis

Bachelor's Degrees

Archeology
BachCIP: 4503
Median Debt
-
Earnings (4yr)
-
Natl Median: $41,748
Lifetime Value Added
N/A
Area Studies
BachCIP: 0501
Median Debt
-
Earnings (4yr)
-
Natl Median: $56,625
Lifetime Value Added
N/A
Biology, General
BachCIP: 2601
Median Debt
$17,929
Earnings (5yr)
$61,887
Natl Median: $57,214
Lifetime Value Added
-$35k
Chemistry
BachCIP: 4005
Median Debt
$17,000
Earnings (2yr)
$36,141
Natl Median: $65,120
Lifetime Value Added
-$228k
Median Debt
-
Earnings (4yr)
-
Natl Median: $49,429
Lifetime Value Added
N/A
Cognitive Science
BachCIP: 3025
Median Debt
-
Earnings (4yr)
-
Natl Median: $81,496
Lifetime Value Added
N/A
Computer Science
BachCIP: 1107
Median Debt
$18,254
Earnings (5yr)
$121,569
Natl Median: $107,009
Lifetime Value Added
+$413k
Median Debt
-
Earnings (4yr)
-
Natl Median: $39,775
Lifetime Value Added
N/A
Economics
BachCIP: 4506
Median Debt
$19,500
Earnings (4yr)
$87,193
Natl Median: $82,686
Lifetime Value Added
+$169k
Median Debt
$21,167
Earnings (2yr)
$22,329
Natl Median: $48,590
Lifetime Value Added
-$354k
Median Debt
-
Earnings (4yr)
-
Natl Median: $51,710
Lifetime Value Added
N/A
Median Debt
-
Earnings (5yr)
$55,953
Natl Median: $43,765
Lifetime Value Added
-$82k
Median Debt
-
Earnings (2yr)
$21,964
Natl Median: $41,367
Lifetime Value Added
-$357k
Median Debt
-
Earnings (4yr)
-
Natl Median: $60,190
Lifetime Value Added
N/A
Median Debt
-
Earnings (4yr)
-
Natl Median: $55,459
Lifetime Value Added
N/A
History
BachCIP: 5401
Median Debt
-
Earnings (4yr)
-
Natl Median: $50,680
Lifetime Value Added
N/A
Median Debt
-
Earnings (4yr)
-
Natl Median: $66,596
Lifetime Value Added
N/A
Median Debt
-
Earnings (4yr)
-
Natl Median: $49,984
Lifetime Value Added
N/A
Mathematics
BachCIP: 2701
Median Debt
$11,500
Earnings (2yr)
$37,568
Natl Median: $69,562
Lifetime Value Added
-$215k
Music
BachCIP: 5009
Median Debt
-
Earnings (4yr)
-
Natl Median: $42,892
Lifetime Value Added
N/A
Median Debt
-
Earnings (4yr)
-
Natl Median: $55,012
Lifetime Value Added
N/A
Philosophy
BachCIP: 3801
Median Debt
-
Earnings (4yr)
-
Natl Median: $54,455
Lifetime Value Added
N/A
Physics
BachCIP: 4008
Median Debt
-
Earnings (2yr)
$42,774
Natl Median: $76,786
Lifetime Value Added
-$169k
Median Debt
$18,700
Earnings (4yr)
$53,975
Natl Median: $63,293
Lifetime Value Added
-$89k
Psychology, General
BachCIP: 4201
Median Debt
-
Earnings (5yr)
$47,957
Natl Median: $50,706
Lifetime Value Added
-$147k
Median Debt
-
Earnings (4yr)
-
Natl Median: $41,390
Lifetime Value Added
N/A
Median Debt
$16,700
Earnings (4yr)
-
Natl Median: $55,695
Lifetime Value Added
N/A
Median Debt
-
Earnings (4yr)
-
Natl Median: $55,000
Lifetime Value Added
N/A
Median Debt
-
Earnings (4yr)
-
Natl Median: $62,169
Lifetime Value Added
N/A
Median Debt
-
Earnings (2yr)
$26,353
Natl Median: $56,812
Lifetime Value Added
-$317k
Statistics
BachCIP: 2705
Median Debt
-
Earnings (4yr)
-
Natl Median: $92,425
Lifetime Value Added
N/A

Note: Lifetime Value Added is the Net Present Value (NPV) of estimated career earnings relative to a median high school graduate (for undergraduate programs) or a median bachelor's degree holder (for graduate programs), 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 decision moving forward. Note that the institution's average undergraduate net price is used as a proxy for annual cost, which may differ from actual graduate tuition. These Lifetime Value Added results for graduate degrees should not be compared with those for Undergraduate Certificates, Associates or Bachelors.

Completers Only: Federal median earnings data strictly reflects outcomes for students who successfully graduated. Students who do not complete their degree typically earn significantly less and face higher risks of debt default.