At $25,291/yr net price, Millsaps College graduates earn $53,848/yr within 10 years of enrollment, which is $19,848/yr above the median for high school graduates.
Cost vs. Outcomes
| Metric | Value |
|---|---|
| Average Net Price (per year) | $25,291 |
| Estimated 4-Year Cost | $101,164 |
| Median Earnings (10yr post-entry) | $53,848/yr |
| Earnings Premium vs. HS Diploma | +$19,848/yr |
| Estimated Break-Even | 5.1 years |
| Graduation Rate (6-year) | 55.5% |
| 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 | $20,651/yr |
| $30,001 - $48,000 | $20,231/yr |
| $48,001 - $75,000 | $26,671/yr |
| $75,001 - $110,000 | $26,007/yr |
| $110,001+ | $32,686/yr |
Earnings by Major
Top programs ranked by median earnings
| Program | Level | Median Earnings | Median Debt |
|---|---|---|---|
| Business Administration, Management and Operations. | Master | $61,516 | |
| Accounting and Related Services. | Master | $60,320 | |
| Business Administration, Management and Operations. | Bachelor | $33,993 | $27,000 |
| Psychology, General. | Bachelor | $29,685 |
The Risk Factor
55.5% of students at Millsaps 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
Millsaps College delivers weak financial returns that struggle to justify its price tag. With median 10-year earnings of $53,848 against a net price of $25,291 annually, you're looking at a payback period that extends well beyond what most families can comfortably manage.
Business and accounting majors see the strongest returns, with business administration graduates earning $61,516 and accounting graduates pulling in $60,320. These programs offer your best shot at making the numbers work. Psychology majors face a harsh reality with median earnings of just $29,685, making debt repayment extremely challenging.
The school's 55.5% graduation rate creates significant financial risk. Nearly half of students who enroll never finish, meaning they carry debt without the degree needed to access better-paying jobs. The 73.5% retention rate signals that many students recognize the mismatch early and transfer elsewhere.
Millsaps works financially only for students with substantial family resources who won't need to borrow heavily, or those receiving significant merit aid. The school does offer merit scholarships, but with only 35.6% of students receiving aid, opportunities are limited. If you're considering borrowing more than $20,000 total, look elsewhere unless you're committed to business or accounting.
Students from Mississippi's limited job market face additional challenges, as local opportunities may not support the earning levels needed to service debt from a $100,000+ education. Your money goes further at in-state public options or regional schools with stronger career placement records.
Frequently Asked Questions
Is Millsaps College worth the cost?
Millsaps College graduates earn $53,848 ten years after graduation, which is modest for the $25,291 annual net price. The 55% graduation rate means nearly half of students don't finish their degree.
What are the best paying majors at Millsaps College?
Business administration and accounting graduates from Millsaps earn around $60,000-61,000 annually, which provides decent returns. Psychology majors earn significantly less at $29,685, making that program a riskier investment.
How much debt do Millsaps College graduates have?
Typical Millsaps graduates leave with $27,000 in debt, which is manageable relative to starting salaries in business fields. However, students in lower-paying majors may struggle with loan payments.
Does Millsaps College have good job prospects after graduation?
Millsaps business and accounting programs lead to solid middle-class earnings around $60,000. The low graduation rate suggests many students transfer or drop out, which could indicate academic or financial challenges.