At $22,085/yr net price, Ferrum College graduates earn $44,296/yr within 10 years of enrollment, which is $10,296/yr above the median for high school graduates.
Cost vs. Outcomes
| Metric | Value |
|---|---|
| Average Net Price (per year) | $22,085 |
| Estimated 4-Year Cost | $88,340 |
| Median Earnings (10yr post-entry) | $44,296/yr |
| Earnings Premium vs. HS Diploma | +$10,296/yr |
| Estimated Break-Even | 8.6 years |
| Graduation Rate (6-year) | 28.9% |
| 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 | $18,607/yr |
| $30,001 - $48,000 | $18,625/yr |
| $48,001 - $75,000 | $20,145/yr |
| $75,001 - $110,000 | $25,397/yr |
| $110,001+ | $28,515/yr |
Earnings by Major
Top programs ranked by median earnings
| Program | Level | Median Earnings | Median Debt |
|---|---|---|---|
| Criminal Justice and Corrections. | Bachelor | $33,993 | $27,000 |
| Teacher Education and Professional Development, Specific Subject Areas. | Bachelor | $30,771 | $27,000 |
| Natural Resources Conservation and Research. | Bachelor | $29,322 | |
| Psychology, General. | Bachelor | $25,194 | |
| Social Work. | Bachelor | $24,035 |
The Risk Factor
28.9% of students at Ferrum College graduate within 6 years. Fewer than half of students complete their degree. If you don't graduate, the financial investment may not pay off.
Analysis
Ferrum College delivers weak financial returns that make it a risky investment for most students. With median earnings of $44,296 ten years after graduation and typical debt of $27,000, your debt-to-income ratio sits at a manageable but unimpressive level.
The college's 29% graduation rate creates the biggest financial risk. Nearly three out of four students leave without a degree, often carrying debt with no credential to show for it. The 59% retention rate signals that many students recognize early that Ferrum may not work for them.
Criminal Justice offers the strongest earnings potential at $34,000 annually, though this remains below national averages for the field. Teacher Education graduates earn around $31,000, reflecting Virginia's modest teacher pay scales. Psychology and Social Work majors face particularly challenging prospects, with starting salaries in the mid-twenties that may struggle to justify the debt load.
You should consider Ferrum only if you're committed to completing your degree and understand the regional job market limitations in rural Virginia. The school works best for students who need a small, supportive environment and plan to stay in Southwest Virginia after graduation, where the cost of living helps stretch modest salaries.
Financial aid reaches fewer than half of students, limiting affordability for middle-income families. Merit scholarships exist but may not close the gap between cost and value. If you're debt-averse or seeking strong career earnings, Virginia's public universities or community colleges offer better financial returns. Ferrum makes sense primarily for students who specifically need its rural setting and small-college support structure while accepting below-average financial outcomes.
Frequently Asked Questions
Is Ferrum College worth the cost?
Ferrum College's low graduation rate of 29% and median earnings of $44,296 ten years after graduation make it a risky investment for most students. With $27,000 in typical debt, graduates earn less than many community college programs while paying private college prices.
What are the highest paying majors at Ferrum College?
Criminal Justice graduates from Ferrum College earn the most at $33,993 annually, followed by Education majors at $30,771. Even the top-paying programs produce below-average salaries compared to national standards for college graduates.
How much debt do Ferrum College students typically graduate with?
Ferrum College graduates carry a median debt of $27,000, which represents a significant burden given the school's low graduation rate and modest earnings outcomes. Many students may struggle to repay loans on starting salaries under $35,000.
Does Ferrum College have good job placement rates?
With only 29% of students graduating and median earnings of $44,296 after ten years, Ferrum College shows poor employment outcomes relative to its cost. Students should carefully consider whether the investment justifies the limited earning potential.