At $15,729/yr net price, Michigan Technological University graduates earn $78,198/yr within 10 years of enrollment, which is $44,198/yr above the median for high school graduates.
Cost vs. Outcomes
| Metric | Value |
|---|---|
| Average Net Price (per year) | $15,729 |
| Estimated 4-Year Cost | $62,916 |
| Median Earnings (10yr post-entry) | $78,198/yr |
| Earnings Premium vs. HS Diploma | +$44,198/yr |
| Estimated Break-Even | 1.4 years |
| Graduation Rate (6-year) | 68.7% |
| Median Debt at Graduation | $24,990 |
What You'll Actually Pay
Average net price by family income
| Family Income | Estimated Net Price |
|---|---|
| $0 - $30,000 | $5,021/yr |
| $30,001 - $48,000 | $6,773/yr |
| $48,001 - $75,000 | $10,202/yr |
| $75,001 - $110,000 | $16,222/yr |
| $110,001+ | $24,344/yr |
Earnings by Major
Top programs ranked by median earnings
| Program | Level | Median Earnings | Median Debt |
|---|---|---|---|
| Mechanical Engineering. | Master | $86,550 | |
| Computer Engineering. | Bachelor | $78,172 | $27,000 |
| Electrical, Electronics and Communications Engineering. | Bachelor | $75,989 | $27,000 |
| Computer Science. | Bachelor | $75,047 | $23,250 |
| Materials Engineering | Bachelor | $73,635 | $26,000 |
| Mechanical Engineering. | Bachelor | $71,637 | $27,000 |
| Chemical Engineering. | Bachelor | $70,536 | $23,875 |
| Management Information Systems and Services. | Bachelor | $68,499 | $28,000 |
| Biomedical/Medical Engineering. | Bachelor | $66,461 | $27,000 |
| Civil Engineering. | Master | $66,244 |
The Risk Factor
68.7% of students at Michigan Technological University graduate within 6 years. A significant share of students finish, but roughly 31% do not complete their degree.
Analysis
Michigan Technological University delivers strong financial returns for STEM students but falls short for those outside engineering and computer science. The median 10-year earnings of $78,198 significantly outpace the net cost of $15,729 annually, creating solid payback potential for graduates who complete their degrees.
Engineering majors dominate the earnings picture, with mechanical engineers averaging $86,550 annually. Computer engineering, electrical engineering, computer science, and materials engineering all produce graduates earning $73,000 to $78,000. These programs justify the typical debt load of $23,250 to $27,000, offering quick payback periods in Michigan's manufacturing-heavy economy.
The main financial risk lies in Michigan Tech's 68.7% graduation rate. Nearly one-third of students leave without degrees, yet still carry debt. The school's remote Upper Peninsula location limits internship opportunities and may reduce job networking compared to urban universities.
You should consider Michigan Tech if you plan to study engineering or computer science and can handle the academic rigor. The relatively low net price makes it accessible even for middle-income families. However, avoid this school if you're interested in liberal arts, business, or other non-STEM fields where career prospects and earnings potential remain unclear.
Only 18% of students receive financial aid, suggesting most families pay close to the sticker price. Merit scholarships exist but target high-achieving STEM students. Your best cost strategy involves completing your degree on time in a high-paying major, as the school's value proposition depends entirely on graduation and program choice.
Frequently Asked Questions
Is Michigan Technological University worth the cost?
Michigan Tech offers solid ROI for STEM students, with engineering graduates earning $75,000-86,000 annually and relatively low debt at $25,000. However, the 69% graduation rate means significant dropout risk, and non-STEM programs may not justify the cost.
What majors at Michigan Technological University have the best return on investment?
Mechanical engineering leads at $86,550 average salary, followed by computer and electrical engineering in the mid-70s range. These programs make the $15,729 annual net price worthwhile, but liberal arts and business majors should consider cheaper alternatives.
How much debt do Michigan Technological University graduates typically have?
The median debt is $24,990, which is manageable for engineering graduates earning $75,000-86,000 but problematic for lower-paying majors. About one-third of students don't graduate, potentially leaving with debt and no degree.
Does Michigan Technological University provide good financial aid?
The net price of $15,729 is reasonable for a public university, especially for Michigan residents. However, with a 94% acceptance rate, merit aid is limited, and students should expect to pay close to the stated net price.