At $21,826/yr net price, Hanover College graduates earn $53,957/yr within 10 years of enrollment, which is $19,957/yr above the median for high school graduates.
Cost vs. Outcomes
| Metric | Value |
|---|---|
| Average Net Price (per year) | $21,826 |
| Estimated 4-Year Cost | $87,304 |
| Median Earnings (10yr post-entry) | $53,957/yr |
| Earnings Premium vs. HS Diploma | +$19,957/yr |
| Estimated Break-Even | 4.4 years |
| Graduation Rate (6-year) | 63.6% |
| Median Debt at Graduation | $25,250 |
What You'll Actually Pay
Average net price by family income
| Family Income | Estimated Net Price |
|---|---|
| $0 - $30,000 | $16,238/yr |
| $30,001 - $48,000 | $16,137/yr |
| $48,001 - $75,000 | $19,624/yr |
| $75,001 - $110,000 | $23,666/yr |
| $110,001+ | $26,545/yr |
Earnings by Major
Top programs ranked by median earnings
| Program | Level | Median Earnings | Median Debt |
|---|---|---|---|
| Economics. | Bachelor | $48,823 | $26,898 |
| Sociology. | Bachelor | $39,729 | |
| Geological and Earth Sciences/Geosciences. | Bachelor | $39,369 | |
| Political Science and Government. | Bachelor | $38,313 | |
| Chemistry. | Bachelor | $38,289 | |
| Communication and Media Studies. | Bachelor | $37,424 | $27,000 |
| Teacher Education and Professional Development, Specific Levels and Methods. | Bachelor | $35,810 | |
| Health and Physical Education/Fitness. | Bachelor | $30,988 | $26,954 |
| History. | Bachelor | $30,771 | |
| Psychology, General. | Bachelor | $26,353 | $27,000 |
The Risk Factor
63.6% of students at Hanover College graduate within 6 years. A significant share of students finish, but roughly 36% do not complete their degree.
Analysis
Hanover College delivers modest financial returns that fall short of justifying its private college price tag for most students. Your median debt of $25,250 against median earnings of $53,957 creates a manageable but unimpressive debt-to-income ratio that leaves little room for financial mistakes.
Economics stands out as the clear financial winner, generating nearly $49,000 in median earnings while carrying slightly higher debt loads. The remaining top-earning programs cluster disappointingly in the high $30,000s, with sociology, geology, political science, and chemistry all producing similar modest returns. These earnings barely outpace what many associate degree holders achieve, making the four-year investment questionable.
Your biggest financial risk lies in Hanover's 63% graduation rate. More than one-third of students leave without a degree, carrying debt with no credential to show for it. The 83% first-year retention rate suggests many students recognize the poor value proposition early.
This school works financially if you qualify for substantial need-based aid, given that only 26% of students receive federal aid, suggesting most families pay close to the full $21,826 net price. You should look elsewhere if you need to borrow heavily or if you're considering any major outside economics.
Hanover makes sense for students from wealthy families who can pay without borrowing, or those receiving significant need-based packages. For everyone else, comparable state schools or community college transfers offer better financial outcomes. The small liberal arts experience comes at a premium that the job market does not reward.
Frequently Asked Questions
Is Hanover College worth the cost?
Hanover College graduates earn a median of $53,957 ten years after graduation, which is modest given the $21,826 annual net price. With a 64% graduation rate and $25,250 in median debt, the return on investment is below average for private liberal arts colleges.
What are the best paying majors at Hanover College?
Economics leads with $48,823 in median earnings, followed by Sociology at $39,729. Most other programs, including Chemistry and Political Science, produce earnings in the high $30,000s, which may not justify the total cost of attendance.
How much debt do Hanover College students typically graduate with?
The median debt for Hanover College graduates is $25,250, which is manageable compared to many private schools. However, with starting salaries often below $40,000 in most majors, loan payments could still strain budgets.
Does Hanover College provide good financial aid?
The net price of $21,826 suggests decent financial aid, bringing costs down from the full sticker price. Still, this represents a significant investment for a school with a 74% acceptance rate and modest post-graduation earnings.