At $27,499/yr net price, Lake Forest College graduates earn $61,825/yr within 10 years of enrollment, which is $27,825/yr above the median for high school graduates.
Cost vs. Outcomes
| Metric | Value |
|---|---|
| Average Net Price (per year) | $27,499 |
| Estimated 4-Year Cost | $109,996 |
| Median Earnings (10yr post-entry) | $61,825/yr |
| Earnings Premium vs. HS Diploma | +$27,825/yr |
| Estimated Break-Even | 4 years |
| Graduation Rate (6-year) | 70.4% |
| Median Debt at Graduation | $26,158 |
What You'll Actually Pay
Average net price by family income
| Family Income | Estimated Net Price |
|---|---|
| $0 - $30,000 | $19,067/yr |
| $30,001 - $48,000 | $19,086/yr |
| $48,001 - $75,000 | $23,694/yr |
| $75,001 - $110,000 | $28,799/yr |
| $110,001+ | $34,614/yr |
Earnings by Major
Top programs ranked by median earnings
| Program | Level | Median Earnings | Median Debt |
|---|---|---|---|
| Economics. | Bachelor | $46,087 | $27,000 |
| Finance and Financial Management Services. | Bachelor | $44,468 | $27,000 |
| Communication and Media Studies. | Bachelor | $41,007 | $27,000 |
| Business/Commerce, General. | Bachelor | $40,647 | $27,000 |
| Political Science and Government. | Bachelor | $30,409 | $27,000 |
| Biology, General. | Bachelor | $29,832 | $27,000 |
| Romance Languages, Literatures, and Linguistics. | Bachelor | $29,685 | $27,000 |
| Fine and Studio Arts. | Bachelor | $25,967 | |
| English Language and Literature, General. | Bachelor | $23,807 | $25,707 |
| Social Sciences, Other. | Bachelor | $22,087 | $26,500 |
The Risk Factor
70.4% of students at Lake Forest College graduate within 6 years. A significant share of students finish, but roughly 30% do not complete their degree.
Analysis
Lake Forest College delivers mixed financial returns that depend heavily on your major choice. The $27,499 annual net price produces median 10-year earnings of $61,825, creating a reasonable payback period for students who avoid heavy borrowing.
Economics and finance majors see the strongest returns at this school, earning over $44,000 annually within a decade of graduation. These programs justify the investment, especially given Lake Forest's proximity to Chicago's financial sector. Communication and general business majors earn around $41,000, which covers costs but leaves little room for financial missteps. Political science majors face concerning outcomes, earning just $30,409 annually against $27,000 in typical debt.
Your biggest risk at Lake Forest is the 30% chance of not graduating at all. The 70% graduation rate means nearly one in three students pay substantial costs without earning a degree. The school's $26,158 median debt load stays manageable for successful graduates in higher-paying majors but becomes problematic for those in lower-earning fields or who fail to complete their programs.
Lake Forest works financially for students planning business or economics careers who can leverage the Chicago job market. The school's 35% financial aid rate suggests limited need-based assistance, making it better suited for families who can cover most costs upfront. Students interested in liberal arts fields with lower earning potential should consider less expensive alternatives, as the debt-to-income ratio becomes unfavorable quickly. Your major choice at this school essentially determines whether you get solid returns or struggle with loan payments for years.
Frequently Asked Questions
Is Lake Forest College worth the cost for the return on investment?
Lake Forest College graduates earn a median of $61,825 after 10 years, which is decent but not exceptional given the $27,499 annual net price. The payback period is reasonable, though students should carefully consider their major since earnings vary significantly by program.
Which Lake Forest College majors have the best job prospects and salaries?
Economics and Finance majors at Lake Forest College see the strongest returns, with median earnings around $44,000-$46,000. Communication and general business graduates earn in the low $40,000s, while Political Science majors face lower earning potential at around $30,400.
How much debt do Lake Forest College students typically graduate with?
Lake Forest College graduates carry a median debt of $26,158, which is manageable compared to many private colleges. With typical starting salaries, most graduates should be able to handle this debt load without major financial strain.
Does Lake Forest College provide good financial aid to make tuition affordable?
Lake Forest College's net price of $27,499 represents significant financial aid from the sticker price, making it more accessible than many private liberal arts colleges. However, this still requires substantial family contribution or borrowing for most students.