At $24,264/yr net price, Spalding University graduates earn $49,438/yr within 10 years of enrollment, which is $15,438/yr above the median for high school graduates.
Cost vs. Outcomes
| Metric | Value |
|---|---|
| Average Net Price (per year) | $24,264 |
| Estimated 4-Year Cost | $97,056 |
| Median Earnings (10yr post-entry) | $49,438/yr |
| Earnings Premium vs. HS Diploma | +$15,438/yr |
| Estimated Break-Even | 6.3 years |
| Graduation Rate (6-year) | 57.3% |
| Median Debt at Graduation | $25,250 |
What You'll Actually Pay
Average net price by family income
| Family Income | Estimated Net Price |
|---|---|
| $0 - $30,000 | $21,467/yr |
| $30,001 - $48,000 | $18,835/yr |
| $48,001 - $75,000 | $23,416/yr |
| $75,001 - $110,000 | $25,555/yr |
| $110,001+ | $29,032/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 | $87,183 | $41,000 |
| Registered Nursing, Nursing Administration, Nursing Research and Clinical Nursing. | Bachelor | $59,967 | $20,667 |
| Student Counseling and Personnel Services. | Master | $59,124 | $30,366 |
| Business/Commerce, General. | Master | $58,402 | $28,160 |
| Rehabilitation and Therapeutic Professions. | Master | $57,811 | $68,393 |
| Clinical, Counseling and Applied Psychology. | Master | $52,941 | |
| Teacher Education and Professional Development, Specific Levels and Methods. | Master | $42,044 | |
| Social Work. | Master | $39,369 | $31,688 |
| Rhetoric and Composition/Writing Studies. | Master | $35,060 | $51,250 |
The Risk Factor
57.3% of students at Spalding 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
Spalding University delivers mixed financial returns, with nursing programs standing out as clear winners while other majors struggle to justify their costs. The nursing programs generate median earnings of $59,967 to $87,183, making them financially sound investments despite higher debt loads reaching $41,000 for some tracks.
Business and counseling programs offer respectable returns around $58,000-$59,000 annually with manageable debt levels. However, rehabilitation programs present a concerning financial picture with $68,393 in median debt against $57,811 in earnings, creating a debt-to-income ratio that will strain your budget for years.
The 57% graduation rate poses real financial risk since dropping out leaves you with debt but no degree. The 70% retention rate suggests many students struggle with the academic demands or find better options elsewhere. You face a significant chance of paying tuition without completing your program.
Spalding works financially if you can get into nursing and complete the program successfully. The Louisville job market supports healthcare careers well, giving nursing graduates solid employment prospects. Business majors can find reasonable opportunities in the regional market, though earnings remain modest.
Skip Spalding if you want rehabilitation programs or cannot commit fully to completion. The high dropout risk combined with moderate aid levels means you could accumulate debt without the degree needed to pay it back. Only 36% of students receive aid, so expect to pay close to full price unless you qualify for merit scholarships.
Choose nursing here if you can handle the academic rigor and want to stay in Kentucky. Look elsewhere for rehabilitation fields or if you need substantial financial aid to make college affordable.
Frequently Asked Questions
Is Spalding University worth the cost?
Spalding University's ROI depends heavily on your major, with nursing programs offering strong returns but other fields lagging behind. With 10-year earnings of $49,438 against a net price of $24,264 annually, the financial payoff is modest for most graduates.
What are the best paying majors at Spalding University?
Nursing programs at Spalding University lead earnings with graduates making around $87,000 in advanced nursing roles and $60,000 in general nursing. Business and rehabilitation programs offer mid-range returns around $57,000-$58,000, while other majors typically earn less.
How much debt do Spalding University graduates have?
Spalding University graduates carry a median debt of $25,250, which is manageable for nursing majors but potentially problematic for lower-earning fields. The 57% graduation rate means many students leave with debt but no degree.
Does Spalding University provide good financial aid?
Spalding University's net price of $24,264 suggests moderate financial aid, though this still represents a significant cost relative to typical graduate earnings. Students should carefully evaluate aid packages against their chosen program's earning potential.