Cost vs. Outcomes
| Metric | Value |
|---|---|
| Average Net Price (per year) | $9,641 |
| Estimated 4-Year Cost | $38,564 |
| Graduation Rate (6-year) | 69.7% |
| Median Debt at Graduation | $10,247 |
What You'll Actually Pay
Average net price by family income
| Family Income | Estimated Net Price |
|---|---|
| $0 - $30,000 | $5,667/yr |
| $30,001 - $48,000 | $6,462/yr |
| $48,001 - $75,000 | $7,371/yr |
| $75,001 - $110,000 | $15,368/yr |
| $110,001+ | $17,432/yr |
The Risk Factor
69.7% of students at Elim Bible Institute and College graduate within 6 years. A significant share of students finish, but roughly 30% do not complete their degree.
Analysis
Elim Bible Institute and College keeps your costs low and your debt lower. At under $10,000 a year in net price and a median debt of about $10,000, you leave with roughly one year's worth of borrowing spread across your whole degree. That is a small financial hole to climb out of, which matters because this school's focus is ministry training, not a field with high starting salaries.
The bigger question is what you earn afterward, and the data doesn't include program-level salary figures for Elim. Bible and ministry credentials generally lead to church, missions, and nonprofit work, where pay runs modest. So the return here isn't about a big paycheck. It's about spending little to get the training you came for. The 100% retention rate and near-70% graduation rate suggest you're likely to finish what you start, which protects you from the worst ROI outcome: debt with no degree.
Your net price swings hard on family income. If your family earns under $48,000, you pay in the low $6,000s a year. Above $75,000, that jumps to around $15,000, and over $110,000 pushes past $17,000. That's a real cliff. Higher-income families pay nearly triple what lower-income families do, so run your own income band before assuming the sticker figure applies to you.
This school fits you if you're set on ministry, missions, or church leadership and want to train without taking on heavy loans. The low debt makes a modest ministry salary manageable. Look elsewhere if you want a degree tied to a specific high-paying career or a broad academic program with strong salary data behind it. Elim's value is cheap, focused, vocational training with low financial risk, not a path to a large income.
Frequently Asked Questions
Is Elim Bible Institute and College worth the cost?
Elim Bible Institute and College offers a relatively affordable education at $9,641 per year with low median debt of $10,247. However, the 69.7% graduation rate means about 3 in 10 students don't finish, which represents a significant financial risk.
What is the return on investment for Elim Bible Institute and College graduates?
As a specialized Bible institute, Elim Bible Institute and College prepares students primarily for ministry careers, which typically offer lower salaries than other fields. The low cost and debt load help offset the limited earning potential in religious vocations.
How much debt do Elim Bible Institute and College students graduate with?
Elim Bible Institute and College graduates have a median debt of only $10,247, which is significantly lower than the national average. The school's low net price of $9,641 per year helps keep borrowing minimal for most students.
Does Elim Bible Institute and College have good job placement rates?
Elim Bible Institute and College focuses on training for ministry and religious work, where job markets are limited and often depend on church placements or starting new ministries. Traditional employment metrics don't apply well to this specialized field.