At $24,832/yr net price, Covenant College graduates earn $50,412/yr within 10 years of enrollment, which is $16,412/yr above the median for high school graduates.
Cost vs. Outcomes
| Metric | Value |
|---|---|
| Average Net Price (per year) | $24,832 |
| Estimated 4-Year Cost | $99,328 |
| Median Earnings (10yr post-entry) | $50,412/yr |
| Earnings Premium vs. HS Diploma | +$16,412/yr |
| Estimated Break-Even | 6.1 years |
| Graduation Rate (6-year) | 71.9% |
| Median Debt at Graduation | $22,500 |
What You'll Actually Pay
Average net price by family income
| Family Income | Estimated Net Price |
|---|---|
| $0 - $30,000 | $18,897/yr |
| $30,001 - $48,000 | $18,479/yr |
| $48,001 - $75,000 | $22,783/yr |
| $75,001 - $110,000 | $23,277/yr |
| $110,001+ | $29,241/yr |
Earnings by Major
Top programs ranked by median earnings
| Program | Level | Median Earnings | Median Debt |
|---|---|---|---|
| Teacher Education and Professional Development, Specific Levels and Methods. | Bachelor | $32,925 | |
| Economics. | Bachelor | $30,771 | |
| Multi-/Interdisciplinary Studies, General. | Bachelor | $28,598 | $20,968 |
| Psychology, General. | Bachelor | $24,369 | $27,000 |
| English Language and Literature, General. | Bachelor | $20,687 |
The Risk Factor
71.9% of students at Covenant College graduate within 6 years. A significant share of students finish, but roughly 28% do not complete their degree.
Analysis
Covenant College gives you a mixed financial return that leans weak at the program level. The school-wide median earnings ten years out sit close to $50,000, and median debt is manageable at $22,500. But the program-level earnings tell a harsher story: none of the top five majors by pay crack $33,000. That gap between the school-wide median and the individual program figures means your outcome depends heavily on what you do after Covenant, not the degree itself.
Among majors, teacher education and economics lead, but even those top out around $31,000 to $33,000. Psychology is the worst deal here: you graduate with $27,000 in debt against $24,369 in earnings, so you owe more than you make in a year. English pays the least at $20,687. If you come here for the humanities or psychology, expect the debt to outpace early income for years.
The specific risk at Covenant is paying a private-college net price of nearly $25,000 a year for careers that don't pay private-college wages. Teaching and ministry-adjacent paths are common outcomes, and those fields cap your earnings regardless of where you studied.
The net price tiers reward lower-income families. If your family earns under $48,000, you pay around $18,500 a year, roughly $10,000 less than families above $110,000. The 71.9% graduation rate and 87% retention rate mean most students who start finish, so you're unlikely to pay for time you don't complete.
Covenant fits you if you're coming from a lower-income household, plan to teach or study economics, and want a Christian liberal-arts environment. Look elsewhere if you're taking on full debt for psychology or English, where the numbers don't add up.
Frequently Asked Questions
Is Covenant College worth the cost?
With graduates earning $50,412 ten years after enrollment and a net price of $24,832 annually, Covenant College offers reasonable value for a private Christian liberal arts education. The $22,500 median debt load is manageable compared to many private colleges.
What are the best paying majors at Covenant College?
Teacher Education graduates earn the highest starting salaries at $32,925, followed by Economics majors at $30,771. English and Psychology majors earn significantly less at around $20,000-24,000, making career planning important for these fields.
How much debt do Covenant College graduates typically have?
The median debt for Covenant College graduates is $22,500, which is lower than the national average for private colleges. This manageable debt level helps offset concerns about lower earnings in some popular majors like English and Psychology.
Does Covenant College have a good graduation rate?
Covenant College has a 72% graduation rate, which is decent but not exceptional for a private college. The 84% acceptance rate suggests the school is accessible, but students should be prepared to stay engaged to complete their degree.