At $14,093/yr net price, Eastern Illinois University graduates earn $51,989/yr within 10 years of enrollment, which is $17,989/yr above the median for high school graduates.
Cost vs. Outcomes
| Metric | Value |
|---|---|
| Average Net Price (per year) | $14,093 |
| Estimated 4-Year Cost | $56,372 |
| Median Earnings (10yr post-entry) | $51,989/yr |
| Earnings Premium vs. HS Diploma | +$17,989/yr |
| Estimated Break-Even | 3.1 years |
| Graduation Rate (6-year) | 45.2% |
| Median Debt at Graduation | $21,500 |
What You'll Actually Pay
Average net price by family income
| Family Income | Estimated Net Price |
|---|---|
| $0 - $30,000 | $11,412/yr |
| $30,001 - $48,000 | $9,774/yr |
| $48,001 - $75,000 | $12,371/yr |
| $75,001 - $110,000 | $19,132/yr |
| $110,001+ | $21,672/yr |
Earnings by Major
Top programs ranked by median earnings
| Program | Level | Median Earnings | Median Debt |
|---|---|---|---|
| Registered Nursing, Nursing Administration, Nursing Research and Clinical Nursing. | Bachelor | $70,176 | |
| Industrial Production Technologies/Technicians. | Master | $61,020 | |
| Educational Administration and Supervision. | Master | $59,350 | $17,123 |
| Business Administration, Management and Operations. | Master | $54,386 | $25,546 |
| Communication Disorders Sciences and Services. | Master | $53,894 | $39,565 |
| Industrial Production Technologies/Technicians. | Bachelor | $50,856 | $22,000 |
| Accounting and Related Services. | Bachelor | $50,677 | $22,229 |
| Clinical, Counseling and Applied Psychology. | Master | $47,260 | $20,226 |
| Finance and Financial Management Services. | Bachelor | $46,673 | $15,478 |
| Teacher Education and Professional Development, Specific Levels and Methods. | Master | $46,673 |
The Risk Factor
45.2% of students at Eastern Illinois University graduate within 6 years. More than half of students finish, but the dropout rate is a real factor in whether this investment pays off.
Analysis
Eastern Illinois University offers weak financial returns for most graduates, with a median 10-year salary of $51,989 that barely justifies the investment for many programs. The 45% graduation rate creates significant risk that you'll accumulate debt without finishing your degree.
Nursing stands out as the clear financial winner, with graduates earning $70,176 annually. Industrial Production Technologies also delivers solid returns at $61,020. However, many popular programs fall short. Communication Disorders graduates face the worst debt-to-income ratio with nearly $40,000 in loans for $53,894 in annual earnings. Business Administration saddles you with $25,546 in debt for only modest salary gains.
The school's low retention rate of 70% signals academic or financial struggles that increase your dropout risk. With only 31% of students receiving aid, you'll likely pay most costs out of pocket. The relatively low median debt of $21,500 reflects the school's affordable pricing rather than generous aid packages.
EIU makes financial sense if you're pursuing nursing or technical programs and can graduate within four years. The low net price of $14,093 annually keeps total debt manageable for students who complete their degrees. However, if you're considering liberal arts or education programs, you'll find better salary prospects at other Illinois public universities. Students who struggled academically in high school should be particularly cautious given the graduation rate concerns.
Frequently Asked Questions
Is Eastern Illinois University worth the cost?
Eastern Illinois University offers reasonable value with a net price of $14,093 and typical graduates earning $51,989 after 10 years. However, the 45% graduation rate means many students leave without a degree, which significantly hurts the return on investment.
What are the highest paying majors at Eastern Illinois University?
Nursing programs at Eastern Illinois University lead to the highest earnings at around $70,000 annually, followed by industrial production technology at $61,000. Business and education majors typically earn in the mid-50s, which is modest but reasonable given the low cost of attendance.
How much student debt do Eastern Illinois University graduates have?
Eastern Illinois University graduates carry a median debt of $21,500, which is manageable compared to the national average. With typical starting salaries around $52,000, most graduates can handle this debt load if they complete their degree.
Does Eastern Illinois University have a good graduation rate?
Eastern Illinois University's 45% graduation rate is below average and represents a significant risk. Nearly half of students who enroll never finish their degree, leaving them with debt but no credential to show for it.