At $22,762/yr net price, Franklin College graduates earn $55,376/yr within 10 years of enrollment, which is $21,376/yr above the median for high school graduates.
Cost vs. Outcomes
| Metric | Value |
|---|---|
| Average Net Price (per year) | $22,762 |
| Estimated 4-Year Cost | $91,048 |
| Median Earnings (10yr post-entry) | $55,376/yr |
| Earnings Premium vs. HS Diploma | +$21,376/yr |
| Estimated Break-Even | 4.3 years |
| Graduation Rate (6-year) | 63.4% |
| 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 | $19,031/yr |
| $30,001 - $48,000 | $18,645/yr |
| $48,001 - $75,000 | $18,436/yr |
| $75,001 - $110,000 | $25,471/yr |
| $110,001+ | $28,694/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 | $38,829 | $27,000 |
| Psychology, General. | Bachelor | $26,353 | $27,000 |
| Biology, General. | Bachelor | $24,421 | $26,000 |
The Risk Factor
63.4% of students at Franklin College graduate within 6 years. A significant share of students finish, but roughly 37% do not complete their degree.
Analysis
Franklin College delivers weak financial returns that make it hard to justify the cost for most students. With median 10-year earnings of $55,376 against a net price of $22,762 annually, you'll struggle to see meaningful payback on your investment.
The program-specific data tells a troubling story. Even the highest-earning major, teacher education, produces graduates making just $38,829 ten years out while carrying $27,000 in debt. Psychology majors fare worse at $26,353, and biology graduates earn a concerning $24,421 despite similar debt loads. These earnings barely exceed what many high school graduates achieve without college debt.
Franklin's 63% graduation rate compounds the financial risk. More than one in three students leave without a degree but often with debt. The 71% retention rate suggests many students recognize early that the value proposition doesn't work.
You should look elsewhere unless you're committed to teaching in Indiana and value Franklin's small-college environment enough to accept below-market financial returns. The school works best for students with significant family financial support who prioritize the campus experience over career earnings.
With only 38.5% of students receiving aid, Franklin appears to offer limited financial assistance. Merit scholarships may exist but aren't substantial enough to meaningfully improve the ROI picture for most students. Community college transfer routes or in-state public options will deliver better financial outcomes for nearly every career path Franklin offers.
Frequently Asked Questions
Is Franklin College worth the cost compared to other Indiana schools?
Franklin College's graduates earn $55,376 after 10 years, which is below the national average for college graduates. With a net price of $22,762 annually and typical debt of $27,000, the return on investment is modest compared to other four-year institutions in Indiana.
What are the best paying majors at Franklin College?
Teacher Education graduates from Franklin College earn around $38,829 after graduation, which is the highest among the school's popular programs. Psychology and Biology majors earn significantly less at $26,353 and $24,421 respectively, making career prospects more challenging in these fields.
How much debt do Franklin College graduates typically have?
Franklin College graduates carry a median debt of $27,000, which is manageable given typical starting salaries. However, with only a 63% graduation rate, many students take on debt without completing their degree, creating financial risk.
Does Franklin College provide good financial aid to reduce costs?
Franklin College's net price of $22,762 suggests decent financial aid for qualifying students, though this varies significantly based on family income. The school's high acceptance rate of 93% means less merit-based aid competition compared to more selective institutions.