At $8,837/yr net price, Millikin University graduates earn $51,262/yr within 10 years of enrollment, which is $17,262/yr above the median for high school graduates.
Cost vs. Outcomes
| Metric | Value |
|---|---|
| Average Net Price (per year) | $8,837 |
| Estimated 4-Year Cost | $35,348 |
| Median Earnings (10yr post-entry) | $51,262/yr |
| Earnings Premium vs. HS Diploma | +$17,262/yr |
| Estimated Break-Even | 2 years |
| Graduation Rate (6-year) | 59.1% |
| Median Debt at Graduation | $27,000 |
What You'll Actually Pay
Average net price by family income
| Family Income | Estimated Net Price |
|---|---|
| $0 - $30,000 | $2,842/yr |
| $30,001 - $48,000 | $5,247/yr |
| $48,001 - $75,000 | $7,953/yr |
| $75,001 - $110,000 | $11,190/yr |
| $110,001+ | $14,631/yr |
Earnings by Major
Top programs ranked by median earnings
| Program | Level | Median Earnings | Median Debt |
|---|---|---|---|
| Registered Nursing, Nursing Administration, Nursing Research and Clinical Nursing. | Master | $197,436 | |
| Business Administration, Management and Operations. | Master | $77,715 | $41,000 |
| Management Information Systems and Services. | Bachelor | $58,402 | |
| Registered Nursing, Nursing Administration, Nursing Research and Clinical Nursing. | Bachelor | $56,521 | $27,000 |
| Accounting and Related Services. | Bachelor | $52,607 | $26,926 |
| Marketing. | Bachelor | $50,439 | |
| Business Administration, Management and Operations. | Bachelor | $41,193 | $27,000 |
| Teacher Education and Professional Development, Specific Subject Areas. | Bachelor | $39,369 | $27,000 |
| Teacher Education and Professional Development, Specific Levels and Methods. | Bachelor | $34,908 | $25,446 |
| Communication and Media Studies. | Bachelor | $33,459 | $21,149 |
The Risk Factor
59.1% of students at Millikin University 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
Millikin University delivers strong financial returns despite its modest reputation, with nursing programs offering strong earning potential that justifies any debt load. The nursing track producing $197,436 annual earnings stands out as one of the best ROI programs in higher education.
Your program choice determines everything at Millikin. Business administration graduates earn $77,715 but carry $41,000 in debt, while accounting majors earn similar amounts with half the debt burden. Management information systems provides solid middle-class earnings at $58,402. Most other programs fall short of the school's median earnings figure.
The financial risk lies in Millikin's 59% graduation rate and 74% retention rate. If you struggle academically or find the small-town Illinois environment challenging, you could end up with debt but no degree. The regional job market in central Illinois limits opportunities outside healthcare and basic business functions.
Millikin works financially if you can secure admission to nursing or commit fully to business programs while avoiding excessive borrowing. The low net price of $8,837 makes it affordable, but only 35% of students receive aid, suggesting merit scholarships may be limited for average applicants.
Skip Millikin if you want prestige, diverse career options, or plan to study liberal arts fields not represented in the top-earning programs. The school serves students who prioritize practical training over brand recognition and can thrive in a small-town college environment focused on professional preparation rather than research or academic exploration.
Frequently Asked Questions
Is Millikin University worth the cost?
Millikin University offers decent value with a low net price of $8,837 per year and moderate debt levels around $27,000. However, the 10-year median earnings of $51,262 and 59% graduation rate suggest mixed outcomes depending on your major.
What are the highest paying majors at Millikin University?
Nursing programs at Millikin University show strong returns, with some nursing specializations reaching median earnings of $197,436. Business and accounting majors typically earn $52,000-$78,000, while other programs may offer lower financial returns.
How much debt do Millikin University graduates have?
Millikin University graduates carry a median debt of $27,000, which is manageable compared to many private schools. The relatively low net price helps keep borrowing reasonable for most students.
Does Millikin University have good job prospects after graduation?
Job prospects vary significantly by program at Millikin University. Nursing graduates generally find strong employment opportunities, while the 59% graduation rate indicates that many students struggle to complete their degrees.