At $11,209/yr net price, Lake Michigan College graduates earn $34,466/yr within 10 years of enrollment, which is $466/yr above the median for high school graduates.
Cost vs. Outcomes
| Metric | Value |
|---|---|
| Average Net Price (per year) | $11,209 |
| Estimated 4-Year Cost | $44,836 |
| Median Earnings (10yr post-entry) | $34,466/yr |
| Earnings Premium vs. HS Diploma | +$466/yr |
| Estimated Break-Even | 96.2 years |
| Graduation Rate (6-year) | 22.2% |
| Median Debt at Graduation | $9,000 |
What You'll Actually Pay
Average net price by family income
| Family Income | Estimated Net Price |
|---|---|
| $0 - $30,000 | $8,727/yr |
| $30,001 - $48,000 | $10,755/yr |
| $48,001 - $75,000 | $13,554/yr |
| $75,001 - $110,000 | $14,960/yr |
| $110,001+ | $16,137/yr |
Earnings by Major
Top programs ranked by median earnings
| Program | Level | Median Earnings | Median Debt |
|---|---|---|---|
| Registered Nursing, Nursing Administration, Nursing Research and Clinical Nursing. | Associate | $55,964 | $9,000 |
| Allied Health Diagnostic, Intervention, and Treatment Professions. | Associate | $52,107 | $9,000 |
| Liberal Arts and Sciences, General Studies and Humanities. | Associate | $18,154 | $14,500 |
The Risk Factor
22.2% of students at Lake Michigan 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
Lake Michigan College delivers poor financial returns for most students, with median earnings of $34,466 ten years after enrollment falling well below what you need to justify even its modest costs.
The nursing program stands out as the clear financial winner, producing graduates earning $55,964 annually with only $9,000 in debt. Allied health programs also perform well at $52,107 in median earnings. These healthcare tracks offer genuine career advancement in Michigan's medical job market.
Liberal arts students face a financial disaster, earning just $18,154 while carrying $14,500 in debt. This program costs more and pays less than nearly any alternative path you could choose.
The 22% graduation rate creates serious financial risk. You have less than a one-in-four chance of completing your program, meaning you could accumulate debt without earning credentials that boost your income.
This school makes financial sense if you can get into nursing or allied health programs and complete them successfully. The healthcare job market in southwest Michigan provides solid opportunities for these graduates.
You should look elsewhere if you want liberal arts education or lack strong motivation to finish. The combination of low graduation rates and weak earnings outside healthcare programs makes this a risky investment for unfocused students.
Financial aid coverage appears limited, with only 18% of students receiving aid. You will likely pay close to full price, making completion even more critical to avoid losses.
Frequently Asked Questions
Is Lake Michigan College worth the cost compared to other schools?
Lake Michigan College costs $11,209 per year but graduates earn only $34,466 after 10 years, which is below average for college graduates. The low graduation rate of 22% means most students don't finish their programs.
Which programs at Lake Michigan College have the best return on investment?
Nursing programs at Lake Michigan College offer the strongest ROI, with graduates earning around $55,964 annually. Liberal arts graduates earn significantly less at $18,154, making those programs poor financial investments.
How much student debt do Lake Michigan College graduates typically have?
Lake Michigan College graduates have a median debt of $9,000, which is relatively low compared to four-year schools. However, with post-graduation earnings of $34,466, even this modest debt may be challenging to repay.
Does Lake Michigan College provide good value for students seeking career training?
Lake Michigan College provides decent value only for nursing and allied health programs, which lead to middle-income careers. Most other programs result in low earnings that may not justify even the school's affordable tuition costs.