At $21,296/yr net price, Lake Erie College graduates earn $50,417/yr within 10 years of enrollment, which is $16,417/yr above the median for high school graduates.
Cost vs. Outcomes
| Metric | Value |
|---|---|
| Average Net Price (per year) | $21,296 |
| Estimated 4-Year Cost | $85,184 |
| Median Earnings (10yr post-entry) | $50,417/yr |
| Earnings Premium vs. HS Diploma | +$16,417/yr |
| Estimated Break-Even | 5.2 years |
| Graduation Rate (6-year) | 41.9% |
| Median Debt at Graduation | $26,000 |
What You'll Actually Pay
Average net price by family income
| Family Income | Estimated Net Price |
|---|---|
| $0 - $30,000 | $17,958/yr |
| $30,001 - $48,000 | $19,969/yr |
| $48,001 - $75,000 | $18,863/yr |
| $75,001 - $110,000 | $24,170/yr |
| $110,001+ | $24,353/yr |
Earnings by Major
Top programs ranked by median earnings
| Program | Level | Median Earnings | Median Debt |
|---|---|---|---|
| Business Administration, Management and Operations. | Master | $52,733 | $41,000 |
| Business Administration, Management and Operations. | Bachelor | $37,808 | $27,000 |
| Criminal Justice and Corrections. | Bachelor | $35,600 | |
| Teacher Education and Professional Development, Specific Levels and Methods. | Bachelor | $35,060 | $25,250 |
| Psychology, General. | Bachelor | $31,133 | $27,000 |
| Health and Physical Education/Fitness. | Bachelor | $29,685 | |
| Agricultural Business and Management. | Bachelor | $21,781 | |
| Biology, General. | Bachelor | $21,508 | $27,000 |
The Risk Factor
41.9% of students at Lake Erie 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
Lake Erie College delivers weak financial returns that should give you pause. With median 10-year earnings of $50,417 against a net price of $21,296 annually, you're looking at a payback period that stretches uncomfortably long, especially given the school's troubling 42% graduation rate.
Business Administration offers the strongest earning potential at $52,733, though even this comes with $41,000 in debt. Criminal Justice graduates earn just $35,600 with no debt data available, while Psychology majors face a particularly poor outlook at $31,133 with $27,000 in debt. Education majors earn $35,060 with $25,250 in debt, reflecting the profession's modest pay scales.
The biggest red flag is Lake Erie's 42% graduation rate. Nearly six out of ten students leave without a degree, meaning you face significant odds of accumulating debt with no credential to show for it. The 66% retention rate signals students frequently transfer or drop out after freshman year.
This school works financially only if you're certain about completing your degree and choosing Business Administration. The regional job market in northeast Ohio offers limited high-paying opportunities, making the modest earning outcomes even more concerning.
With only 29% of students receiving aid, Lake Erie appears stingy with financial assistance. You should aggressively negotiate merit scholarships and have a backup plan if costs exceed your budget. Students seeking strong ROI should look elsewhere unless you secure substantial aid that brings your net cost well below the published price.
Frequently Asked Questions
Is Lake Erie College worth the money?
Lake Erie College's ROI is mixed - graduates earn $50,417 after 10 years with typical debt of $26,000, which creates manageable payments. However, the 42% graduation rate means many students leave without a degree, making it risky for students who aren't committed to finishing.
What are the best paying majors at Lake Erie College?
Business Administration graduates from Lake Erie College earn the highest salaries at around $52,733, while other popular programs like Criminal Justice ($35,600) and Education ($35,060) pay below the national average. Psychology majors earn just $31,133, making debt repayment challenging.
How much debt do Lake Erie College students graduate with?
Lake Erie College graduates typically leave with $26,000 in debt, which is reasonable compared to national averages. With a net price of $21,296 per year, students who finish in four years and receive typical financial aid can keep debt manageable.
What is Lake Erie College's graduation rate and why does it matter?
Only 42% of students graduate from Lake Erie College, meaning most who enroll never finish their degree. This low completion rate significantly increases the financial risk, as students who drop out still carry debt without the earning potential of a college degree.