At $20,923/yr net price, McDaniel College graduates earn $60,663/yr within 10 years of enrollment, which is $26,663/yr above the median for high school graduates.
Cost vs. Outcomes
| Metric | Value |
|---|---|
| Average Net Price (per year) | $20,923 |
| Estimated 4-Year Cost | $83,692 |
| Median Earnings (10yr post-entry) | $60,663/yr |
| Earnings Premium vs. HS Diploma | +$26,663/yr |
| Estimated Break-Even | 3.1 years |
| Graduation Rate (6-year) | 63.8% |
| Median Debt at Graduation | $25,000 |
What You'll Actually Pay
Average net price by family income
| Family Income | Estimated Net Price |
|---|---|
| $0 - $30,000 | $11,334/yr |
| $30,001 - $48,000 | $14,397/yr |
| $48,001 - $75,000 | $19,417/yr |
| $75,001 - $110,000 | $22,293/yr |
| $110,001+ | $27,501/yr |
Earnings by Major
Top programs ranked by median earnings
| Program | Level | Median Earnings | Median Debt |
|---|---|---|---|
| Curriculum and Instruction. | Master | $61,630 | |
| Economics. | Bachelor | $60,623 | |
| Teacher Education and Professional Development, Specific Subject Areas. | Master | $56,415 | |
| Accounting and Related Services. | Bachelor | $55,693 | $23,335 |
| Business Administration, Management and Operations. | Bachelor | $51,607 | $25,000 |
| Special Education and Teaching. | Master | $48,823 | |
| Student Counseling and Personnel Services. | Master | $46,478 | $51,237 |
| Communication and Media Studies. | Bachelor | $43,240 | $24,500 |
| Teacher Education and Professional Development, Specific Levels and Methods. | Master | $41,937 | |
| Multi/Interdisciplinary Studies, Other. | Bachelor | $39,009 |
The Risk Factor
63.8% of students at McDaniel College graduate within 6 years. A significant share of students finish, but roughly 36% do not complete their degree.
Analysis
McDaniel College offers a weak financial return that should give prospective students pause. With median 10-year earnings of $60,663 against a net price of $20,923 annually, you're looking at a modest payback that barely justifies the investment for most majors.
Your major choice will make or break the financial equation at McDaniel. Education-focused programs like Curriculum and Instruction top the earnings charts at $61,630, making them your best bet for a decent return. Economics graduates also fare well at $60,623. However, Business Administration majors earn just $51,607 despite carrying the full $25,000 median debt load, making this popular program a poor financial choice.
The 63.8% graduation rate presents a significant risk. More than one-third of students who start at McDaniel never finish, meaning you could end up with debt but no degree. The 78.88% retention rate suggests many students recognize early that the school isn't delivering value.
McDaniel works financially only for students committed to education careers who can leverage the strong regional teacher preparation programs. The Westminster, Maryland location limits job market access compared to schools near major metropolitan areas, constraining your post-graduation earning potential.
Financial aid appears limited, with only 33.81% of students receiving aid. This suggests McDaniel relies heavily on full-pay students and offers minimal merit scholarships to offset costs.
You should look elsewhere if you're considering business, want access to diverse career opportunities, or need substantial financial aid. McDaniel makes sense only for future teachers who value small class sizes over financial returns.
Frequently Asked Questions
Is McDaniel College worth the debt?
With median debt of $25,000 and starting earnings around $60,663, McDaniel graduates typically earn enough to manage their loans reasonably well. The debt-to-income ratio is manageable compared to many private colleges, though not exceptional.
What are the highest paying majors at McDaniel College?
Education and economics majors see the best returns, with curriculum and instruction graduates earning around $61,630 and economics majors earning $60,623. Business and accounting programs produce lower returns despite being popular choices.
Is McDaniel College a good value for the money?
At $20,923 net price annually, McDaniel offers decent value for a private college, especially for education majors. However, the 64% graduation rate means over one-third of students don't finish, which significantly hurts the investment.
Do McDaniel College graduates struggle to find jobs?
Most McDaniel graduates find work, with 10-year earnings averaging $60,663. The relatively high acceptance rate of 82% means the school isn't highly selective, but graduates generally achieve middle-class incomes in their careers.