At $24,837/yr net price, McPherson College graduates earn $52,084/yr within 10 years of enrollment, which is $18,084/yr above the median for high school graduates.
Cost vs. Outcomes
| Metric | Value |
|---|---|
| Average Net Price (per year) | $24,837 |
| Estimated 4-Year Cost | $99,348 |
| Median Earnings (10yr post-entry) | $52,084/yr |
| Earnings Premium vs. HS Diploma | +$18,084/yr |
| Estimated Break-Even | 5.5 years |
| Graduation Rate (6-year) | 52.0% |
| Median Debt at Graduation | $25,242 |
What You'll Actually Pay
Average net price by family income
| Family Income | Estimated Net Price |
|---|---|
| $0 - $30,000 | $20,869/yr |
| $30,001 - $48,000 | $21,172/yr |
| $48,001 - $75,000 | $25,387/yr |
| $75,001 - $110,000 | $27,314/yr |
| $110,001+ | $28,232/yr |
The Risk Factor
52.0% of students at McPherson College graduate within 6 years. More than half of students finish, but the dropout rate is a real factor in whether this investment pays off.
Analysis
McPherson College delivers weak financial returns with a 10-year median salary of $52,084 that barely justifies the $24,837 annual net price. The 52% graduation rate means nearly half of students never complete their degree, making this a high-risk investment for many families.
The college's automotive restoration program stands out as the clear financial winner, connecting graduates to specialized careers that command premium wages in classic car restoration and customization. However, most other programs at McPherson struggle to generate strong earning potential given the rural Kansas job market and limited local industry diversity.
Your biggest financial risk here is the low retention rate of 64.66%, indicating many students transfer or drop out after freshman year. This pattern suggests academic or social fit issues that could leave you with debt but no degree. The median debt load of $25,242 becomes particularly problematic if you join the 48% who never graduate.
McPherson makes financial sense if you're passionate about automotive restoration and can access their specialized facilities and industry connections. The school also works for students who secure substantial merit aid, though only 34% receive financial assistance. Local Kansas residents benefit from lower transportation costs and potential state-based aid programs.
Skip McPherson if you need strong career services, diverse internship opportunities, or access to major metropolitan job markets. The combination of high dropout risk and limited regional employment options makes this college a poor choice for students seeking traditional business, liberal arts, or STEM careers with strong earning potential.
Frequently Asked Questions
Is McPherson College worth the cost compared to other Kansas schools?
McPherson College's net price of $24,837 annually leads to median earnings of $52,084 after 10 years, which is below average for private colleges. With a 52% graduation rate, many students don't finish their degrees, making the investment riskier than state schools with better completion rates.
What is the average student debt at McPherson College and is it manageable?
Graduates leave with a median debt of $25,242, which is relatively manageable given the typical starting salaries. However, the 48% of students who don't graduate often carry debt without the degree to show for it.
Which programs at McPherson College offer the best return on investment?
McPherson College is known for its automotive restoration program and education degrees, which tend to lead to steady employment. Business and liberal arts programs show mixed results depending on the specific career path students pursue after graduation.
Does McPherson College provide enough financial aid to make attendance affordable?
The school reduces its sticker price significantly through aid, bringing the average net price to $24,837. This makes it more affordable than many private colleges, though students should compare total costs against likely earnings in their chosen field.