Special Report

50 Top Ranked Colleges That Pay Off the Least

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The typical young college graduate earned about $50,000 in 2016, well above the typical recent high school graduate’s earnings of $31,800 a year. For those who can afford it, college is a good investment. But not all colleges are the same, and graduates of some institutions are less likely to see the same high return from their years of study and their money spent.

24/7 Wall st. reviewed Department of Education data on the typical expected earnings for students graduating from U.S. News and World Report’s top-ranked colleges and universities. We listed the 50 schools where the expected annual earnings for a graduate was the smallest compared to the overall cost of annual attendance.

The vast majority of the postsecondary institutions to make this list are small, private, liberal arts colleges with hefty price tags. These are schools where the average annual cost of attendance, when accounting for tuition, fees, living expenses, and supplies, is well above $50,000, and in some cases over $60,000 a year. Typical graduates of these school are expected to earn in some cases less than $30,000 annually 10 years out of school, even as those from other schools can expect to earn over twice as much.

In an exchange with 24/7 Wall St. Tom Snyder, director of annual reports and information staff at the National Center for Education Statistics, explained that the choice of major can have a significant impact on expected incomes of colleges graduates.

 

Click here to see the 50 top ranked colleges that pay off the least.
Click here to see our detailed findings and methodology.

Public Domain / Wikimedia Commons

50. Hartwick College
> Graduate median earnings after 10 years: $42,800
> Average annual cost of attendance: $51,932
> Location: Oneonta, NY
> Undergraduate enrollment: 1,396

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The Good Doctor / Flickr

49. Whittier College
> Graduate median earnings after 10 years: $43,100
> Average annual cost of attendance: $52,570
> Location: Whittier, CA
> Undergraduate enrollment: 1,615

cogdog / Flickr

48. College of Wooster
> Graduate median earnings after 10 years: $45,400
> Average annual cost of attendance: $55,500
> Location: Wooster, OH
> Undergraduate enrollment: 2,003

roanokecollege / Wikimedia Commons

47. Roanoke College
> Graduate median earnings after 10 years: $43,000
> Average annual cost of attendance: $52,588
> Location: Salem, VA
> Undergraduate enrollment: 1,992

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Amanda / Flickr

46. Sewanee–University of the South
> Graduate median earnings after 10 years: $40,600
> Average annual cost of attendance: $49,700
> Location: Sewanee, TN
> Undergraduate enrollment: 1,731

Feddacheenee / Wikimedia Commons

45. Cornell College
> Graduate median earnings after 10 years: $41,200
> Average annual cost of attendance: $50,804
> Location: Mount Vernon, IA
> Undergraduate enrollment: 974

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fdastudillo / Getty Images

44. Vassar College
> Graduate median earnings after 10 years: $51,400
> Average annual cost of attendance: $63,390
> Location: Poughkeepsie, NY
> Undergraduate enrollment: 2,424

LawrenceSawyer / Getty Images

43. Mount Holyoke College
> Graduate median earnings after 10 years: $46,100
> Average annual cost of attendance: $56,964
> Location: South Hadley, MA
> Undergraduate enrollment: 2,199

masharee / Wikimedia Commons

42. Washington College
> Graduate median earnings after 10 years: $45,300
> Average annual cost of attendance: $55,995
> Location: Chestertown, MD
> Undergraduate enrollment: 1,479

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41. Erskine College
> Graduate median earnings after 10 years: $37,500
> Average annual cost of attendance: $46,847
> Location: Due West, SC
> Undergraduate enrollment: 614

joeshlabotnik / Flickr

40. Whitman College
> Graduate median earnings after 10 years: $46,600
> Average annual cost of attendance: $58,228
> Location: Walla Walla, WA
> Undergraduate enrollment: 1,493

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39. Beloit College
> Graduate median earnings after 10 years: $41,500
> Average annual cost of attendance: $52,181
> Location: Beloit, WI
> Undergraduate enrollment: 1,394

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38. Furman University
> Graduate median earnings after 10 years: $45,900
> Average annual cost of attendance: $58,737
> Location: Greenville, SC
> Undergraduate enrollment: 2,797

Bjoertvedt / Wikimedia Commons

37. Salem College
> Graduate median earnings after 10 years: $32,300
> Average annual cost of attendance: $41,356
> Location: Winston-Salem, NC
> Undergraduate enrollment: 933

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themarmot / Flickr

36. Scripps College
> Graduate median earnings after 10 years: $49,700
> Average annual cost of attendance: $63,740
> Location: Claremont, CA
> Undergraduate enrollment: 1,039

stevan / Flickr

35. Wheaton College
> Graduate median earnings after 10 years: $46,700
> Average annual cost of attendance: $60,040
> Location: Norton, MA
> Undergraduate enrollment: 1,651

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romanboed / Flickr

34. Lawrence University
> Graduate median earnings after 10 years: $41,700
> Average annual cost of attendance: $53,790
> Location: Appleton, WI
> Undergraduate enrollment: 1,532

Billertl / Wikimedia Commons

33. Northland College
> Graduate median earnings after 10 years: $33,000
> Average annual cost of attendance: $42,662
> Location: Ashland, WI
> Undergraduate enrollment: 582

Elisa.rolle / Wikimedia Commons

32. Eckerd College
> Graduate median earnings after 10 years: $41,200
> Average annual cost of attendance: $53,423
> Location: St. Petersburg, FL
> Undergraduate enrollment: 1,844

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Public Domain / Wikimedia Commons

31. Guilford College
> Graduate median earnings after 10 years: $36,200
> Average annual cost of attendance: $47,175
> Location: Greensboro, NC
> Undergraduate enrollment: 1,809

Geographer. / Wikimedia Commons

30. Occidental College
> Graduate median earnings after 10 years: $49,700
> Average annual cost of attendance: $64,804
> Location: Los Angeles, CA
> Undergraduate enrollment: 2,062

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29. Wesleyan University
> Graduate median earnings after 10 years: $49,200
> Average annual cost of attendance: $64,163
> Location: Middletown, CT
> Undergraduate enrollment: 2,971

Diliff / Wikimedia Commons

28. Agnes Scott College
> Graduate median earnings after 10 years: $36,500
> Average annual cost of attendance: $48,109
> Location: Decatur, GA
> Undergraduate enrollment: 927

Evenjk / Wikimedia Commons

27. Macalester College
> Graduate median earnings after 10 years: $45,300
> Average annual cost of attendance: $59,743
> Location: St. Paul, MN
> Undergraduate enrollment: 2,146

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Christopher L. Riley / Wikimedia Commons

26. Ohio Wesleyan University
> Graduate median earnings after 10 years: $43,500
> Average annual cost of attendance: $57,422
> Location: Delaware, OH
> Undergraduate enrollment: 1,639

Lewis & Clark College / Wikimedia Commons

25. Lewis & Clark College
> Graduate median earnings after 10 years: $43,600
> Average annual cost of attendance: $57,656
> Location: Portland, OR
> Undergraduate enrollment: 2,134

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Ross P. Robinson / Wikimedia Commons

24. St. Lawrence University
> Graduate median earnings after 10 years: $46,500
> Average annual cost of attendance: $61,632
> Location: Canton, NY
> Undergraduate enrollment: 2,377

Public Domain / Wikimedia Commons

23. Hendrix College
> Graduate median earnings after 10 years: $40,600
> Average annual cost of attendance: $54,087
> Location: Conway, AR
> Undergraduate enrollment: 1,321

Peter Flass / Wikimedia Commons

22. Skidmore College
> Graduate median earnings after 10 years: $47,100
> Average annual cost of attendance: $62,750
> Location: Saratoga Springs, NY
> Undergraduate enrollment: 2,680

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21. Knox College
> Graduate median earnings after 10 years: $38,200
> Average annual cost of attendance: $50,974
> Location: Galesburg, IL
> Undergraduate enrollment: 1,357

Aureliusxv / Wikimedia Commons

20. Grinnell College
> Graduate median earnings after 10 years: $44,300
> Average annual cost of attendance: $59,317
> Location: Grinnell, IA
> Undergraduate enrollment: 1,699

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Public Domain / Wikimedia Commons

19. Pitzer College
> Graduate median earnings after 10 years: $47,100
> Average annual cost of attendance: $63,750
> Location: Claremont, CA
> Undergraduate enrollment: 1,089

Elwsbc / Wikimedia Commons

18. Sweet Briar College
> Graduate median earnings after 10 years: $36,800
> Average annual cost of attendance: $50,637
> Location: Sweet Briar, VA
> Undergraduate enrollment: 365

MonsieurNapoléon / Wikimedia Commons

17. Smith College
> Graduate median earnings after 10 years: $44,900
> Average annual cost of attendance: $62,300
> Location: Northampton, MA
> Undergraduate enrollment: 2,514

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Beyond My Ken / Wikimedia Commons

16. The New School
> Graduate median earnings after 10 years: $43,100
> Average annual cost of attendance: $60,109
> Location: New York, NY
> Undergraduate enrollment: 7,014

Cbc717 / Wikimedia Commons

15. Kenyon College
> Graduate median earnings after 10 years: $44,300
> Average annual cost of attendance: $62,160
> Location: Gambier, OH
> Undergraduate enrollment: 1,708

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Lvklock / Wikimedia Commons

14. Wells College
> Graduate median earnings after 10 years: $35,800
> Average annual cost of attendance: $51,038
> Location: Aurora, NY
> Undergraduate enrollment: 00

Jeffrey Beall / Wikimedia Commons

13. Colorado College
> Graduate median earnings after 10 years: $41,900
> Average annual cost of attendance: $60,500
> Location: Colorado Springs, CO
> Undergraduate enrollment: 2,101

JERRYE / Wikimedia Commons

12. Hollins University
> Graduate median earnings after 10 years: $32,200
> Average annual cost of attendance: $49,184
> Location: Roanoke, VA
> Undergraduate enrollment: 654

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Public Domain / Wikimedia Commons

11. Earlham College
> Graduate median earnings after 10 years: $34,500
> Average annual cost of attendance: $54,470
> Location: Richmond, IN
> Undergraduate enrollment: 1,031

Public Domain / Wikimedia Commons

10. Oberlin College
> Graduate median earnings after 10 years: $40,200
> Average annual cost of attendance: $64,396
> Location: Oberlin, OH
> Undergraduate enrollment: 2,895

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Cacophony / Wikimedia Commons

9. Reed College
> Graduate median earnings after 10 years: $37,900
> Average annual cost of attendance: $61,795
> Location: Portland, OR
> Undergraduate enrollment: 00

Alison Nieman / Wikimedia Commons

8. Sarah Lawrence College
> Graduate median earnings after 10 years: $39,900
> Average annual cost of attendance: $66,323
> Location: Bronxville, NY
> Undergraduate enrollment: 1,438

A Name Like Shields Can Make You Defensive / Flickr

7. St. John’s College
> Graduate median earnings after 10 years: $34,400
> Average annual cost of attendance: $60,228
> Location: Annapolis, MD
> Undergraduate enrollment: 434

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6. Bard College
> Graduate median earnings after 10 years: $35,900
> Average annual cost of attendance: $64,671
> Location: Annandale-On-Hudson, NY
> Undergraduate enrollment: 1,995

Jared C. Benedict. (Uploads) / Wikimedia Commons

5. Marlboro College
> Graduate median earnings after 10 years: $26,100
> Average annual cost of attendance: $51,590
> Location: Marlboro, VT
> Undergraduate enrollment: 196

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4. St. John’s College
> Graduate median earnings after 10 years: $29,900
> Average annual cost of attendance: $60,058
> Location: Santa Fe, NM
> Undergraduate enrollment: 326

Keith Monroe / iStock

3. College of the Atlantic
> Graduate median earnings after 10 years: $24,300
> Average annual cost of attendance: $51,471
> Location: Bar Harbor, ME
> Undergraduate enrollment: 337

Daderot / Wikimedia Commons

2. Bard College–Simon’s Rock
> Graduate median earnings after 10 years: $29,200
> Average annual cost of attendance: $62,869
> Location: Great Barrington, MA
> Undergraduate enrollment: 00

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Jared C. Benedict. / Wikimedia Commons

1. Bennington College
> Graduate median earnings after 10 years: $26,000
> Average annual cost of attendance: $64,019
> Location: Bennington, VT
> Undergraduate enrollment: 711

Detailed Findings & Methodology

In an exchange with 24/7 Wall St. Tom Snyder, director of annual reports and information staff at the National Center for Education Statistics, explained that the choice of major can have a significant impact on expected incomes of colleges graduates.

The latest data released by the National Center for Education Statistics as part of its Digest of Education Statistics shows that median annual earnings for theology, social work, and fine arts majors is less than $40,000 annually. Meanwhile, those in science, technology, engineering, and math fields earn well above the median for all bachelor’s degree holders. Engineers, such as electrical, computer, and chemical engineers, typically earn above $70,000 each year.

Liberal arts institutions such as the ones that make up this list tend to have high representation of majors that lead to jobs that tend to pay less, and offer fewer STEM majors than other types of institutions.

Gender may be another factor contributing to the low wages earned by graduates of the schools on this list. In 2015, 56% of students at degree-granting postsecondary institutions were female, but the share is higher in the majority of the schools on this list, and it is higher than 60% in 12 of the 20 institutions with the worst return on investment. Of the 16 top-ranked women’s colleges and universities listed by U.S. News and World Report, seven are on this list of 50.

According to a study produced by job review site Glassdoor in 2017, women are more likely to select majors with lower expected incomes. The most male-dominated majors, according to Glassdoor, are civil engineering, electrical engineering, and computer engineering, the eighth, third, and second highest paid majors. For example, electrical engineering is the highest paid major listed in the Digest of Education Statistics. It is also, according to Glassdoor, the most male-dominated major, at 74%.

According to Glassdoor, women are also less likely to earn as high wages even as their male counterparts with the same wages. The report found that among the 50 most common majors, women are paid 11.5% less on average than men with the same major.

To identify the 50 top-ranked colleges that produce graduates that earn 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 graduation from the U.S. Department of Education, last updated in 2017. These earnings were then compared with U.S. News & World Report’s 2017 rankings of the best national universities and liberal arts colleges, with the exceptions of United States service academies and Soka University of America, New College of Florida, and Hillsdale College, for which data was not available. Tuition data is for 2016-2017 and was also provided by the U.S. Department of Education.

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