At $29,980/yr net price, Macalester College graduates earn $63,878/yr within 10 years of enrollment, which is $29,878/yr above the median for high school graduates.
Cost vs. Outcomes
| Metric | Value |
|---|---|
| Average Net Price (per year) | $29,980 |
| Estimated 4-Year Cost | $119,920 |
| Median Earnings (10yr post-entry) | $63,878/yr |
| Earnings Premium vs. HS Diploma | +$29,878/yr |
| Estimated Break-Even | 4 years |
| Graduation Rate (6-year) | 90.4% |
| Median Debt at Graduation | $23,000 |
What You'll Actually Pay
Average net price by family income
| Family Income | Estimated Net Price |
|---|---|
| $0 - $30,000 | $12,877/yr |
| $30,001 - $48,000 | $11,441/yr |
| $48,001 - $75,000 | $13,050/yr |
| $75,001 - $110,000 | $26,584/yr |
| $110,001+ | $43,253/yr |
Earnings by Major
Top programs ranked by median earnings
| Program | Level | Median Earnings | Median Debt |
|---|---|---|---|
| Computer and Information Sciences, General. | Bachelor | $71,575 | $21,500 |
| Economics. | Bachelor | $64,493 | $24,000 |
| Mathematics. | Bachelor | $52,107 | $23,745 |
| Political Science and Government. | Bachelor | $35,274 | $23,118 |
| International/Global Studies. | Bachelor | $34,526 | $23,324 |
| Intercultural/Multicultural and Diversity Studies. | Bachelor | $33,993 | |
| Education, General. | Bachelor | $33,281 | |
| Geography and Cartography. | Bachelor | $32,569 | $19,049 |
| Psychology, General. | Bachelor | $31,133 | |
| Chemistry. | Bachelor | $29,685 |
The Risk Factor
90.4% of students at Macalester College graduate within 6 years. Most students who start here finish their degree.
Analysis
Macalester College delivers mixed financial returns that depend heavily on your major choice. The net price of nearly $30,000 annually creates a significant cost burden for a liberal arts education, though the 90% graduation rate means you'll likely finish your degree.
Computer science majors see the strongest payoff with median earnings of $71,575, making the investment worthwhile. Economics graduates also perform well at $64,493. However, popular programs like political science and international studies show concerning returns, with graduates earning just $35,274 and $34,526 respectively while carrying similar debt loads around $23,000.
The school's Twin Cities location provides decent job opportunities, but many graduates in humanities and social sciences will struggle to justify the high cost. Only 17% of students receive need-based aid, signaling limited financial assistance for middle-income families who don't qualify for grants but can't easily afford the full price.
You should consider Macalester if you plan to study computer science or economics and can afford the cost without excessive borrowing. The school works best for affluent families or students receiving substantial merit aid. Skip this option if you're interested in political science, international studies, or other liberal arts majors unless you have clear graduate school plans or family wealth that makes the investment irrelevant.
The high retention rate suggests students generally like the experience, but the financial math only works for specific majors and financial situations. Middle-income students pursuing humanities should look at more affordable alternatives with better aid packages.
Frequently Asked Questions
Is Macalester College worth the cost?
Macalester graduates earn $63,878 ten years after graduation with median debt of $23,000, making it a reasonable investment for most students. The school's 90% graduation rate and strong financial aid that brings costs down to $30,000 annually help justify the expense.
What are the highest paying majors at Macalester College?
Computer science majors at Macalester earn $71,575 after graduation, followed by economics at $64,493. Political science and international studies majors earn significantly less at $35,274 and $34,526 respectively, which may not justify the cost for those fields.
How much debt do Macalester College graduates typically have?
Macalester graduates have a median debt of $23,000, which is manageable given the school's graduate earnings. This debt level is below the national average and allows most graduates to service their loans without financial hardship.
Does Macalester College provide good financial aid?
Macalester's net price of $29,980 after aid is competitive for a private liberal arts college. The school meets demonstrated need for most students, though families should expect significant costs even with aid packages.