The growing student loan debt crisis is one of the most daunting public policy challenges of our time. In the last 10 years alone, total student loan debt more than doubled in the United States, overtaking both credit card debt and auto loans, and hitting an all-time high of $1.5 trillion.
This increase in debt is not attributable to growing enrollment. In fact, the number of Americans enrolled at undergraduate institutions fell by 7% — from 18.1 million in 2010 to 16.8 million in 2017. The more significant factor in the student debt crisis is the increasing cost of college — and the relatively low-paying careers that await some graduates.Â
The cost of attending a four-year college has climbed faster each decade since the 1980s. In the 2018-2019 academic year, it costs an average of $48,510 to attend a private nonprofit college — a 96% increase from the average inflation-adjusted cost of $24,800 in the 1988-1989 academic year. This is how much college cost the year you were born.Â
Meanwhile, at some of the nation’s top-ranked colleges and universities, over half of all alumni who took out loans earn less than $40,000 per year. 24/7 Wall St. reviewed the median earnings, 10 years after matriculation, of former students who received federal financial aid while attending school as a percentage of annual tuition and fees to identify the 50 top-ranked colleges that pay off the least. Earnings data by institution came from the U.S. Department of Education.Â
It is important to note that the earnings used to rank schools for this story are medians and are not representative of what all alumni earn. Earnings after graduation can often depend more on field of study than the institution itself. These are the highest- and lowest-paying college majors in America.
Click here to see the 50 top ranked colleges that pay off the least
Click here to read our methodology
Correction:Â Due to a data processing error, Union College and Emmanuel College were included in a previous version of this story. After their removal from this list, Sewanee-University of the South and Hartwick College have been added. Additionally, Wheaton College moved in rank from number 28 to number 21. Additionally, a previous version of this article incorrectly characterized median earnings as 10 years after graduation and cost of attendance as an average. In fact, the earnings figures noted are 10 years after enrollment and cost of attendance is full tuition and fees. Â
Source: Rex Hammock / Flickr
50. Sewanee-University of the South
> Median earnings 10 yrs. after entry: $45,500
> Annual cost of attendance: $45,120
> Location: Sewanee, TN
> Undergraduate enrollment: 1,702
Source: Public Domain / Wikimedia Commons
49. Hartwick College
> Median earnings 10 yrs. after entry: $45,800
> Annual cost of attendance: $45,510
> Location: Oneonta, NY
> Undergraduate enrollment: 1,201
Source: icpigallery / Flickr
48. Kalamazoo College
> Median earnings 10 yrs. after entry: $48,700
> Annual cost of attendance: $48,516
> Location: Kalamazoo, MI
> Undergraduate enrollment: 1,436
[in-text-ad]
Source: DenisTangneyJr / Getty Images
47. Wesleyan University
> Median earnings 10 yrs. after entry: $54,700
> Annual cost of attendance: $54,614
> Location: Middletown, CT
> Undergraduate enrollment: 2,976
24/7 Wall St.
Source: romanboed / Flickr
46. Connecticut College
> Median earnings 10 yrs. after entry: $54,900
> Annual cost of attendance: $54,820
> Location: New London, CT
> Undergraduate enrollment: 1,817
Source: Courtesy of Randolph College
45. Randolph College
> Median earnings 10 yrs. after entry: $39,700
> Annual cost of attendance: $39,695
> Location: Lynchburg, VA
> Undergraduate enrollment: 663
[in-text-ad-2]
Source: Adamsofen / Wikimedia Commons
44. Whitman College
> Median earnings 10 yrs. after entry: $51,300
> Annual cost of attendance: $51,764
> Location: Walla Walla, WA
> Undergraduate enrollment: 1,510
Source: Courtesy of Ohio Wesleyan University
43. Ohio Wesleyan University
> Median earnings 10 yrs. after entry: $45,300
> Annual cost of attendance: $45,760
> Location: Delaware, OH
> Undergraduate enrollment: 1,565
[in-text-ad]
Source: JenniferPhotographyImaging / Getty Images
42. Carleton College
> Median earnings 10 yrs. after entry: $54,200
> Annual cost of attendance: $54,759
> Location: Northfield, MN
> Undergraduate enrollment: 2,078
Source: Courtesy of Guilford College
41. Guilford College
> Median earnings 10 yrs. after entry: $36,400
> Annual cost of attendance: $36,965
> Location: Greensboro, NC
> Undergraduate enrollment: 1,674
Source: skyfaller / Flickr
40. Scripps College
> Median earnings 10 yrs. after entry: $54,100
> Annual cost of attendance: $55,024
> Location: Claremont, CA
> Undergraduate enrollment: 1,059
[in-text-ad-2]
Source: IngerAlHaosului / Wikimedia Commons
39. Whittier College
> Median earnings 10 yrs. after entry: $46,800
> Annual cost of attendance: $47,886
> Location: Whittier, CA
> Undergraduate enrollment: 1,681
Source: LawrenceSawyer / Getty Images
38. Mount Holyoke College
> Median earnings 10 yrs. after entry: $48,600
> Annual cost of attendance: $49,998
> Location: South Hadley, MA
> Undergraduate enrollment: 2,210
[in-text-ad]
Source: DebraMillet / Getty Images
37. Hobart and William Smith Colleges
> Median earnings 10 yrs. after entry: $53,500
> Annual cost of attendance: $55,255
> Location: Geneva, NY
> Undergraduate enrollment: 2,237
24/7 Wall St.
Source: fdastudillo / Getty Images
36. Vassar College
> Median earnings 10 yrs. after entry: $54,600
> Annual cost of attendance: $56,960
> Location: Poughkeepsie, NY
> Undergraduate enrollment: 2,353
Source: jkdatlanta / Flickr
35. Agnes Scott College
> Median earnings 10 yrs. after entry: $39,400
> Annual cost of attendance: $41,160
> Location: Decatur, GA
> Undergraduate enrollment: 921
[in-text-ad-2]
Source: Courtesy of Eckerd College
34. Eckerd College
> Median earnings 10 yrs. after entry: $42,200
> Annual cost of attendance: $44,540
> Location: St. Petersburg, FL
> Undergraduate enrollment: 1,957
Source: Denisonfan / Wikimedia Commons
33. Denison University
> Median earnings 10 yrs. after entry: $48,800
> Annual cost of attendance: $51,960
> Location: Granville, OH
> Undergraduate enrollment: 2,341
[in-text-ad]
Source: Wolterk / Getty Images
32. Grinnell College
> Median earnings 10 yrs. after entry: $49,100
> Annual cost of attendance: $52,392
> Location: Grinnell, IA
> Undergraduate enrollment: 1,712
Source: Public Domain / Wikimedia Commons
31. Pitzer College
> Median earnings 10 yrs. after entry: $48,700
> Annual cost of attendance: $52,236
> Location: Claremont, CA
> Undergraduate enrollment: 1,112
Source: stcroixriverway_nps / Flickr
30. Northland College
> Median earnings 10 yrs. after entry: $33,700
> Annual cost of attendance: $36,183
> Location: Ashland, WI
> Undergraduate enrollment: 635
[in-text-ad-2]
Source: JamesBrey / Getty Images
29. Lawrence University
> Median earnings 10 yrs. after entry: $44,100
> Annual cost of attendance: $47,475
> Location: Appleton, WI
> Undergraduate enrollment: 1,473
Source: Bill_Dally / Getty Images
28. Occidental College
> Median earnings 10 yrs. after entry: $50,600
> Annual cost of attendance: $54,686
> Location: Los Angeles, CA
> Undergraduate enrollment: 2,055
[in-text-ad]
Source: philly_18_percent_gray / Flickr
27. College of Wooster
> Median earnings 10 yrs. after entry: $46,300
> Annual cost of attendance: $50,250
> Location: Wooster, OH
> Undergraduate enrollment: 1,980
24/7 Wall St.
Source: Peter Flass / Wikimedia Commons
26. Skidmore College
> Median earnings 10 yrs. after entry: $49,700
> Annual cost of attendance: $54,270
> Location: Saratoga Springs, NY
> Undergraduate enrollment: 2,680
[in-text-ad-2]
Source: Beyond My Ken / Wikimedia Commons
25. The New School
> Median earnings 10 yrs. after entry: $44,500
> Annual cost of attendance: $48,631
> Location: New York, NY
> Undergraduate enrollment: 7,203
Source: Courtesy of St. Lawrence University
24. St. Lawrence University
> Median earnings 10 yrs. after entry: $50,100
> Annual cost of attendance: $54,846
> Location: Canton, NY
> Undergraduate enrollment: 2,414
[in-text-ad]
Source: Lewis & Clark College / Wikimedia Commons
23. Lewis & Clark College
> Median earnings 10 yrs. after entry: $46,200
> Annual cost of attendance: $50,934
> Location: Portland, OR
> Undergraduate enrollment: 2,106
24/7 Wall St.
Source: Courtesy of Hollins University
22. Hollins University
> Median earnings 10 yrs. after entry: $35,400
> Annual cost of attendance: $39,035
> Location: Roanoke, VA
> Undergraduate enrollment: 645
Source: kickstand / Getty Images
21. Wheaton College
> Median earnings 10 yrs. after entry: $48,400
> Annual cost of attendance: $52,626
> Location: Norton, MA
> Undergraduate enrollment: 1,688
Source: MonsieurNapoléon / Wikimedia Commons
20. Smith College
> Median earnings 10 yrs. after entry: $46,200
> Annual cost of attendance: $52,404
> Location: Northampton, MA
> Undergraduate enrollment: 2,521
[in-text-ad-2]
Source: cogdog / Flickr
19. Macalester College
> Median earnings 10 yrs. after entry: $47,600
> Annual cost of attendance: $54,348
> Location: St. Paul, MN
> Undergraduate enrollment: 2,136
Source: curtsm / Flickr
18. Kenyon College
> Median earnings 10 yrs. after entry: $48,700
> Annual cost of attendance: $55,930
> Location: Gambier, OH
> Undergraduate enrollment: 1,677
[in-text-ad]
Source: Public Domain / Wikimedia Commons
17. Hendrix College
> Median earnings 10 yrs. after entry: $39,700
> Annual cost of attendance: $45,790
> Location: Conway, AR
> Undergraduate enrollment: 1,238
Source: Courtesy of Wells College
16. Wells College
> Median earnings 10 yrs. after entry: $35,100
> Annual cost of attendance: $40,700
> Location: Aurora, NY
> Undergraduate enrollment: 488
Source: mattclare / Flickr
15. Knox College
> Median earnings 10 yrs. after entry: $39,700
> Annual cost of attendance: $46,554
> Location: Galesburg, IL
> Undergraduate enrollment: 1,356
[in-text-ad-2]
Source: firepile / Flickr
14. Beloit College
> Median earnings 10 yrs. after entry: $42,400
> Annual cost of attendance: $50,040
> Location: Beloit, WI
> Undergraduate enrollment: 1,402
Source: Mark Lee / Wikimedia Commons
13. Colorado College
> Median earnings 10 yrs. after entry: $45,400
> Annual cost of attendance: $55,470
> Location: Colorado Springs, CO
> Undergraduate enrollment: 2,107
Source: User:Cacophony / Wikimedia Commons
12. Reed College
> Median earnings 10 yrs. after entry: $42,200
> Annual cost of attendance: $54,200
> Location: Portland, OR
> Undergraduate enrollment: 1,415
[in-text-ad]
Source: Courtesy of Sarah Lawrence College
11. Sarah Lawrence College
> Median earnings 10 yrs. after entry: $43,000
> Annual cost of attendance: $55,900
> Location: Bronxville, NY
> Undergraduate enrollment: 1,399
[in-text-ad-2]
Source: Earlham College / Wikimedia Commons
10. Earlham College
> Median earnings 10 yrs. after entry: $35,000
> Annual cost of attendance: $46,450
> Location: Richmond, IN
> Undergraduate enrollment: 1,060
Source: uschools / Getty Images
9. Oberlin College
> Median earnings 10 yrs. after entry: $40,800
> Annual cost of attendance: $55,052
> Location: Oberlin, OH
> Undergraduate enrollment: 2,827
[in-text-ad]
Source: nancykennedy / Getty Images
8. Bard College
> Median earnings 10 yrs. after entry: $39,700
> Annual cost of attendance: $54,680
> Location: Annandale on Hudson, NY
> Undergraduate enrollment: 1,930
Source: juliarosepethtel / Flickr
7. Warren Wilson College
> Median earnings 10 yrs. after entry: $25,600
> Annual cost of attendance: $36,280
> Location: Asheville, NC
> Undergraduate enrollment: 589
Source: smi23le / Wikimedia Commons
6. St. John’s College
> Median earnings 10 yrs. after entry: $36,900
> Annual cost of attendance: $53,218
> Location: Annapolis, MD
> Undergraduate enrollment: 458
[in-text-ad-2]
Source: jeffreywarren / Flickr
5. Marlboro College
> Median earnings 10 yrs. after entry: $27,600
> Annual cost of attendance: $40,840
> Location: Marlboro, VT
> Undergraduate enrollment: 183
Source: Courtesy of St. John's College
4. St. John’s College
> Median earnings 10 yrs. after entry: $33,500
> Annual cost of attendance: $53,218
> Location: Santa Fe, NM
> Undergraduate enrollment: 322
[in-text-ad]
Source: Courtesy of Bard College at Simon's Rock
3. Bard College at Simon’s Rock
> Median earnings 10 yrs. after entry: $32,500
> Annual cost of attendance: $55,732
> Location: Great Barrington, MA
> Undergraduate enrollment: 400
Source: Courtesy of College of the Atlantic
2. College of the Atlantic
> Median earnings 10 yrs. after entry: $24,600
> Annual cost of attendance: $43,542
> Location: Bar Harbor, ME
> Undergraduate enrollment: 349
[in-text-ad-2]
Source: Courtesy of Bennington College
1. Bennington College
> Median earnings 10 yrs. after entry: $29,500
> Annual cost of attendance: $53,860
> Location: Bennington, VT
> Undergraduate enrollment: 775
Methodology
To identify the 50 top-ranked colleges and universities that pay off the least, 24/7 Wall St. reviewed the median earnings of former students who received federal financial aid that are working and not enrolled in school 10 years after matriculation from the U.S. Department of Education, last updated in May 2019. We ranked the schools based on the average earnings as a percent of annual tuition and fees. We only considered schools from U.S. News & World Report’s 2019 rankings of the best national universities and liberal arts colleges, with the exception of U.S. service academies and universities for which data was not available. Tuition and fees data is for the 2018-2019 school year and also came from U.S. News & World Report. For public institutions, in-state tuition is listed.
Take This Retirement Quiz To Get Matched With A Financial Advisor (Sponsored)
Take the quiz below to get matched with a financial advisor today.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the
advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Take the retirement quiz right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
