At $23,939/yr net price, Colby College graduates earn $80,490/yr within 10 years of enrollment, which is $46,490/yr above the median for high school graduates.
Cost vs. Outcomes
| Metric | Value |
|---|---|
| Average Net Price (per year) | $23,939 |
| Estimated 4-Year Cost | $95,756 |
| Median Earnings (10yr post-entry) | $80,490/yr |
| Earnings Premium vs. HS Diploma | +$46,490/yr |
| Estimated Break-Even | 2.1 years |
| Graduation Rate (6-year) | 90.2% |
| Median Debt at Graduation | $19,157 |
What You'll Actually Pay
Average net price by family income
| Family Income | Estimated Net Price |
|---|---|
| $0 - $30,000 | $6,072/yr |
| $30,001 - $48,000 | $1,331/yr |
| $48,001 - $75,000 | $2,247/yr |
| $75,001 - $110,000 | $15,937/yr |
| $110,001+ | $52,893/yr |
Earnings by Major
Top programs ranked by median earnings
| Program | Level | Median Earnings | Median Debt |
|---|---|---|---|
| Economics. | Bachelor | $57,995 | $24,250 |
| Political Science and Government. | Bachelor | $47,118 | $27,000 |
| Anthropology. | Bachelor | $44,971 | |
| International/Global Studies. | Bachelor | $42,682 | |
| English Language and Literature, General. | Bachelor | $41,193 | |
| Psychology, General. | Bachelor | $38,289 | |
| Area Studies. | Bachelor | $33,993 | |
| Biology, General. | Bachelor | $30,771 |
The Risk Factor
90.2% of students at Colby College graduate within 6 years. Most students who start here finish their degree.
Analysis
Colby College delivers strong financial returns despite its liberal arts focus, with graduates earning a median $80,490 ten years after enrollment. Your net price of $23,939 creates a reasonable debt-to-income ratio for most majors, though specific programs show wide earning variations.
Economics majors fare best with nearly $58,000 in median earnings, while English and International Studies graduates start closer to $41,000-$42,000. Political Science sits in the middle at $47,118, making it a safer bet than the lower-earning humanities tracks. The consistent debt levels across majors mean your choice of study directly impacts your financial outcome.
Colby's biggest financial risk lies in its location. Waterville, Maine offers limited local job opportunities, potentially forcing you to relocate for career advancement. This geographic constraint particularly hurts if you study fields without strong national networks or remote work options.
The school works best financially if you can afford the full cost or qualify for significant need-based aid. With only 13% receiving financial aid, Colby clearly caters to affluent families. If you need merit scholarships to make college affordable, look elsewhere. The low median debt of $19,157 reflects this wealthy student body rather than generous aid policies.
Colby makes financial sense if you want liberal arts education with strong alumni networks in finance and consulting. The 90% graduation rate and high earnings suggest the investment pays off for most students. Skip Colby if you need substantial financial aid, plan to stay in Maine after graduation, or want technical skills that translate directly to high-paying entry-level jobs.
Frequently Asked Questions
Is Colby College worth the cost for most students?
Colby College graduates earn $80,490 ten years after graduation, which is solid but not exceptional given the school's selectivity. The economics program produces the strongest returns at $58,000, while liberal arts majors like English average just $41,000.
What is the financial aid like at Colby College?
Colby brings the average net price down to $23,939 per year through generous financial aid. Most graduates leave with manageable debt of around $19,000, making the financial burden reasonable for a selective liberal arts college.
Which Colby College programs have the best job prospects?
Economics majors at Colby earn the highest salaries at $58,000, while political science graduates make $47,000. Liberal arts majors like anthropology and English see significantly lower earnings in the $41,000-$45,000 range.
Does Colby College justify its competitive admission standards financially?
With a 7.6% acceptance rate and 1485 average SAT, Colby is highly selective but graduate earnings don't fully match the admission difficulty. The 90% graduation rate is excellent, though many comparable schools produce higher-earning graduates.