At $3,935/yr net price, Luther Rice College & Seminary graduates earn $47,003/yr within 10 years of enrollment, which is $13,003/yr above the median for high school graduates.
Cost vs. Outcomes
| Metric | Value |
|---|---|
| Average Net Price (per year) | $3,935 |
| Estimated 4-Year Cost | $15,740 |
| Median Earnings (10yr post-entry) | $47,003/yr |
| Earnings Premium vs. HS Diploma | +$13,003/yr |
| Estimated Break-Even | 1.2 years |
| Median Debt at Graduation | $34,153 |
What You'll Actually Pay
Average net price by family income
| Family Income | Estimated Net Price |
|---|---|
| $0 - $30,000 | $6,232/yr |
| $30,001 - $48,000 | $3,073/yr |
| $48,001 - $75,000 | $2,500/yr |
Earnings by Major
Top programs ranked by median earnings
| Program | Level | Median Earnings | Median Debt |
|---|---|---|---|
| Bible/Biblical Studies. | Master | $53,358 | |
| Theological and Ministerial Studies. | Master | $48,823 | $41,000 |
| Pastoral Counseling and Specialized Ministries. | Master | $35,701 | $41,000 |
| Bible/Biblical Studies. | Bachelor | $27,126 | $30,955 |
Analysis
Luther Rice College & Seminary gives you a low sticker price but a weak earnings payoff. The net price runs under $4,000 a year, one of the cheaper private-nonprofit tags you'll find. The problem is what happens after graduation: the one bachelor's program with reported data, Bible/Biblical Studies, leads to earnings around $27,000 a year while carrying roughly $31,000 in debt. You'd owe more than you make in your first year out.
The school-wide median earnings of $47,003 look healthier, but that figure is pulled up by graduate and seminary students, not by the undergraduate Bible degree. If you enroll for the bachelor's, the program-level number is the one that applies to you, and it's low. Carrying $31,000 in debt against a $27,000 salary is a repayment burden that will follow you for years.
The net price tiers are genuinely affordable across incomes. If your family earns under $30,000, you pay about $6,200. middle-income families in the $48,000-$75,000 range pay around $2,500. Low cost keeps the total debt you take on smaller than at most private schools, which softens the blow of the modest earnings.
The 60% retention rate is a warning sign. Four in ten first-year students don't return, and leaving with partial credits and any debt is the worst financial outcome here.
This school fits you if ministry or biblical study is your calling and you accept the pay that comes with it. The affordability is real. But if you're choosing a college mainly for financial return, the Bible bachelor's program doesn't pay off, and you should look at schools with stronger undergraduate earnings.
Frequently Asked Questions
Is Luther Rice College & Seminary worth the cost?
Luther Rice offers a very low net price at $3,935 per year, making it affordable for ministry-focused education. However, graduates earn a median of $47,003 after 10 years, which is below average for college graduates but typical for ministry careers.
What programs at Luther Rice College & Seminary have the best ROI?
Bible/Biblical Studies graduates earn the highest at $53,358, while Pastoral Counseling graduates earn significantly less at $35,701. Ministry-focused programs generally lead to modest salaries regardless of the specific degree.
How much debt do Luther Rice College & Seminary students graduate with?
Students graduate with a median debt of $34,153, which is manageable given the low tuition costs. The debt-to-income ratio is reasonable for ministry careers, though graduates should expect lower salaries than secular fields.
Does Luther Rice College & Seminary provide good financial aid?
The school keeps costs low with a net price of only $3,935 per year after aid. This makes Luther Rice one of the more affordable options for students pursuing ministry education.