At $22,018/yr net price, Erskine College graduates earn $53,459/yr within 10 years of enrollment, which is $19,459/yr above the median for high school graduates.
Cost vs. Outcomes
| Metric | Value |
|---|---|
| Average Net Price (per year) | $22,018 |
| Estimated 4-Year Cost | $88,072 |
| Median Earnings (10yr post-entry) | $53,459/yr |
| Earnings Premium vs. HS Diploma | +$19,459/yr |
| Estimated Break-Even | 4.5 years |
| Graduation Rate (6-year) | 48.6% |
| Median Debt at Graduation | $27,000 |
What You'll Actually Pay
Average net price by family income
| Family Income | Estimated Net Price |
|---|---|
| $0 - $30,000 | $21,857/yr |
| $30,001 - $48,000 | $16,145/yr |
| $48,001 - $75,000 | $20,343/yr |
| $75,001 - $110,000 | $24,856/yr |
| $110,001+ | $24,471/yr |
Earnings by Major
Top programs ranked by median earnings
| Program | Level | Median Earnings | Median Debt |
|---|---|---|---|
| Theological and Ministerial Studies. | Master | $41,565 | |
| Health and Physical Education/Fitness. | Bachelor | $32,382 | |
| Biology, General. | Bachelor | $29,685 | $27,000 |
| Business Administration, Management and Operations. | Bachelor | $29,685 | $27,000 |
The Risk Factor
48.6% of students at Erskine College 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
Erskine College delivers weak financial returns that make it a risky investment for most students. With median earnings of $53,459 ten years after graduation and a net price of $22,018 annually, you're looking at a payback period that stretches well beyond what stronger regional competitors offer.
The graduation rate of 48.6% means more than half of students who enroll never finish their degree, creating dead-weight financial loss. Even worse, the retention rate of just 62.7% signals that students frequently realize the poor value proposition after their first year.
Your major choice at Erskine severely limits earning potential. Theological and Ministerial Studies graduates earn $41,565, which represents the highest-paying program but still falls short of national averages for college graduates. Biology and Business Administration graduates both earn just $29,685 while carrying $27,000 in debt, creating negative financial outcomes that persist for years.
The school works financially only for students with specific career goals in ministry or those receiving substantial merit aid. Since 40% of students receive financial aid, aggressive scholarship negotiation becomes essential. Without significant aid reduction, you're paying private school prices for outcomes that lag behind regional public universities.
Students seeking strong career earnings should look elsewhere. Erskine's South Carolina location limits job market access compared to schools near major metropolitan areas. The combination of high dropout risk, modest earnings potential, and limited regional opportunities creates a financial profile that favors only the most committed students with clear ministry career paths or those who secure major scholarship support.
Frequently Asked Questions
Is Erskine College worth the money?
Erskine College graduates earn $53,459 ten years after graduation, which is modest for the $22,018 annual net cost. The 48.6% graduation rate means half of students don't finish their degree, making it a risky investment for many.
What are the best paying majors at Erskine College?
Theological and Ministerial Studies leads at $41,565 average earnings, followed by Health and Physical Education at $32,382. Biology and Business majors both average $29,685, which is below the national average for college graduates.
How much debt do Erskine College students graduate with?
Erskine College graduates have a median debt of $27,000. With starting salaries around $53,459, this debt load is manageable but requires careful budgeting in early career years.
Does Erskine College have good job prospects after graduation?
Erskine College's 10-year graduate earnings of $53,459 fall below many comparable schools. The low 48.6% graduation rate suggests academic support challenges that could impact career readiness.