At $18,034/yr net price, Monmouth College graduates earn $51,110/yr within 10 years of enrollment, which is $17,110/yr above the median for high school graduates.
Cost vs. Outcomes
| Metric | Value |
|---|---|
| Average Net Price (per year) | $18,034 |
| Estimated 4-Year Cost | $72,136 |
| Median Earnings (10yr post-entry) | $51,110/yr |
| Earnings Premium vs. HS Diploma | +$17,110/yr |
| Estimated Break-Even | 4.2 years |
| Graduation Rate (6-year) | 60.1% |
| 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 | $12,780/yr |
| $30,001 - $48,000 | $14,353/yr |
| $48,001 - $75,000 | $15,568/yr |
| $75,001 - $110,000 | $18,615/yr |
| $110,001+ | $22,788/yr |
Earnings by Major
Top programs ranked by median earnings
| Program | Level | Median Earnings | Median Debt |
|---|---|---|---|
| Business Administration, Management and Operations. | Bachelor | $36,560 | $25,045 |
| Teacher Education and Professional Development, Specific Levels and Methods. | Bachelor | $35,594 | |
| Health and Physical Education/Fitness. | Bachelor | $31,708 | $24,625 |
| Psychology, General. | Bachelor | $29,685 | $27,000 |
| Public Relations, Advertising, and Applied Communication. | Bachelor | $28,960 | |
| Communication and Media Studies. | Bachelor | $27,497 | |
| History. | Bachelor | $25,194 | |
| English Language and Literature, General. | Bachelor | $23,351 |
The Risk Factor
60.1% of students at Monmouth College graduate within 6 years. A significant share of students finish, but roughly 40% do not complete their degree.
Analysis
Monmouth College delivers weak financial returns that struggle to justify its costs. With median 10-year earnings of $51,110 against $27,000 in typical debt, you face a concerning debt-to-income ratio that limits your financial flexibility after graduation.
The earnings data reveals troubling patterns across majors. Business graduates earn just $36,560 annually while carrying $25,045 in debt. Education majors fare slightly better at $35,594, but both figures fall well below national averages for college graduates. Psychology and communications majors face particularly poor prospects, with starting salaries in the high $20,000s that barely cover loan payments.
Two major red flags compound these weak earnings. The 60% graduation rate means four in ten students accumulate debt without finishing their degrees. The 70% retention rate signals that many students recognize the poor value proposition and transfer elsewhere, often losing credits and time in the process.
Monmouth College makes financial sense only if you secure substantial merit aid that brings your total debt below $15,000. The school serves a limited regional job market in western Illinois where career opportunities remain scarce. You should look elsewhere unless you plan to leave the area immediately after graduation or have family connections that guarantee employment.
If you choose Monmouth despite these concerns, avoid psychology and communications programs entirely. Focus on education if you plan to teach locally, as the regional market offers more stability in that field. Business remains the least problematic option, though still financially underwhelming compared to alternatives at larger universities or community colleges with transfer pathways.
Frequently Asked Questions
Is Monmouth College worth the cost?
With graduates earning $51,110 ten years after enrollment and median debt of $27,000, Monmouth College offers decent value for a private liberal arts school. The net price of $18,034 is manageable, though the 60% graduation rate means significant dropout risk.
What are the best paying majors at Monmouth College?
Business Administration leads at $36,560 starting salary, followed by Education at $35,594. Other popular programs like Psychology ($29,685) and Communications ($28,960) offer below-average returns given the total cost of attendance.
How much debt do Monmouth College graduates have?
Median debt is $27,000, which is reasonable compared to many private colleges. With typical starting salaries around $30,000-36,000 for most programs, debt payments should be manageable for graduates who complete their degree.
Does Monmouth College have good financial aid?
The net price of $18,034 suggests solid financial aid, bringing costs down from the full sticker price. However, with a 90% acceptance rate and average test scores, merit aid likely focuses on enrollment rather than academic achievement.