Alabama State University
Montgomery, Alabama · Public · 97.5% acceptance rate
ROI Score: 5/100 · Poor Value
Alabama State University, an HBCU in Montgomery, posts a 5/100 ROI score — among the lowest on our database — in our Poor Value tier. The numbers are difficult: median earnings of $24,400 six years out fall below the high-school baseline (earnings premium of -0.6%), median debt of $31,000 yields a debt-to-earnings ratio of 1.27, and the paybackPeriod is 999 years (our flag for 'graduates as a group don't out-earn high-school graduates by enough to ever recoup the cost'). Completion rate of 30.3% is weak, and the three-year repayment rate of 36.6% is among the worst we track — the majority of borrowers are not reducing principal three years after entering repayment. Net price of $20,435 against a $11,248 in-state tuition reflects significant residential-campus cost loading, pushing four-year total to $81,740. The 71.3% Pell rate places this firmly as an access institution, and the 3,477-student enrollment makes ASU a meaningful HBCU presence in central Alabama. ASU plays a real cultural role and the marching band/AKA/Greek heritage matters to its community, but the documented financial outcomes are bleak. Net price brackets are essentially flat across all income tiers ($19,031-$21,682) — a structural anomaly that suggests aid distribution is not effectively progressive.
The data raises concerns about Alabama State University
These metrics fall below the thresholds most financial advisors recommend for a sound college investment. Review them carefully before committing.
- ROI Score5/100 - Poor Value tier (below 45). Most 4-year schools we track score 60 or higher.
- Debt-to-earnings1.27 - Advisors recommend total student debt stay below one year of salary (ratio under 1.0).
- 6-year graduation rate30.3% - Well below the 60% national average. Non-completion is the fastest route to negative ROI.
- Payback period>50 years - Graduates earn at or near the level of high school completers — the cost may not recoup within a working career.
Alabama State University
Quick Numbers
| In-state tuition + fees | $11,248/yr |
| Out-of-state tuition + fees | $19,576/yr |
| Average net price | $20,435/yr |
| Total 4-year cost (net) | $81,740 |
| Median earnings (10yr post-entry) | $34,502 |
| Median earnings (6yr post-entry) | $24,400 |
| Median debt at graduation | $31,000 |
| Estimated monthly loan payment | $329 |
| Estimated payback period | >50 years |
| 6-year graduation rate | 30.3% |
| Undergraduate enrollment | 3,477 |
Data as of 2024-2025. Source: College Scorecard API (U.S. Department of Education).
The Full Financial Picture
The sticker price at Alabama State University is $11,248/year ($19,576/year out-of-state). But sticker price isn't what most students pay. After grants, scholarships, and financial aid, the average student pays a net price of $20,435/year, or roughly $81,740 over four years.
That net price varies significantly by family income. The lowest-income families (under $30,000/year) pay an average of $19,711/year, while families earning over $110,000 pay $19,031/year.
The median graduate leaves with $31,000 in federal loan debt, translating to an estimated monthly payment of $329 on a standard 10-year repayment plan. Against median earnings of $34,502 ten years out, the debt-to-earnings ratio is 1.27 - above the recommended threshold where total debt should not exceed first-year salary.
Net Price by Family Income
What families actually pay after grants and scholarships, by income bracket.
| Family Income | Avg Net Price/Year |
|---|---|
| $0 - $30,000 | $19,711 |
| $30,001 - $48,000 | $21,682 |
| $48,001 - $75,000 | $21,508 |
| $75,001 - $110,000 | $21,608 |
| $110,001+ | $19,031 |
Cost by Income Bracket Explained
Lower-income families (under $30K)
Families under $30,000 pay $19,711 net — high relative to income and only modestly subsidized. Across four years that's $78,844 against $24,400 graduate earnings, with the high probability (70%) of not finishing within the tracked window. Pell-eligible students should treat ASU as a financial stretch and weigh whether community college transfer paths offer comparable HBCU access (Trenholm, Bishop State) at lower risk.
Middle-income families ($30K-$110K)
The brackets here are nearly flat: $30,001–$48,000 pays $21,682, $48,001–$75,000 pays $21,508, $75,001–$110,000 pays $21,608. That non-progressive structure is unusual — middle-income families pay essentially the same as adjacent brackets, with no apparent aid-driven differentiation. Across four years that's $86,000-$87,000, which is hard to justify against $24,400 graduate earnings.
Higher-income families ($110K+)
Families above $110,000 pay $19,031 — actually LESS than the middle-income brackets, an inverted pattern. This suggests merit aid concentrating at the top end (likely scholarship-attracting students from higher-income families) rather than need-based aid driving middle-income relief. Full-pay outcomes still fail to justify cost on financial grounds; ASU choices in this bracket are made for HBCU mission and family/cultural connection, not ROI.
Earnings by Major
Top 10 most popular majors at Alabama State University with available earnings data.
| Major | Median Earnings | Grade |
|---|---|---|
| Biology | $46,370 | F |
| Multi/Interdisciplinary Studies, Other | $37,576 | D |
| Criminal Justice and Corrections | $45,173 | D |
| Rehabilitation and Therapeutic Professions | $40,152 | F |
| Accounting | $63,070 | D |
| Social Work | $43,661 | F |
| Communication and Media Studies | $38,566 | F |
| Business Administration, Management, and Operations | $46,126 | F |
| Psychology | $41,766 | F |
| Teacher Education | $51,014 | D |
Earnings reflect median 4-year post-completion (or 1-year where 4-year unavailable). Grades based on debt-to-earnings ratio.
Program Analysis
Why these programs deliver their earnings outcomes.
Accounting
Accounting is one of ASU's defensible programs: 28 graduates with first-year earnings of $39,762 climbing to $63,070 by year four. Median debt of $30,750 yields a 0.77 debt-to-earnings ratio (D grade). For students who pass the CPA exam, the trajectory improves further. Accounting graduates from HBCUs frequently feed into Big Four firm-diversity pipelines and corporate finance roles, which explains the relatively strong four-year earnings figure compared to ASU's other programs.
Biology
Biology graduates 57 students annually — ASU's largest program by graduate count. First-year earnings of $30,174 climb to $46,370 by year four, with $31,000 median debt yielding a 1.03 debt-to-earnings ratio (F grade). Many bio graduates plan on med/PA/dental school but face the same access challenges nationally; without graduate-school continuation, the bachelor's-only path delivers weak market returns and the debt becomes punishing.
Multi/Interdisciplinary Studies, Other
Interdisciplinary Studies graduates 41 students with first-year earnings of $27,978 climbing to $37,576 by year four. Median debt of $26,000 yields a 0.93 debt-to-earnings ratio (D grade). This major often catches students who don't complete a more focused track; outcomes are weak by design. Students considering this path should weigh whether ASU's Accounting or Teacher Ed programs offer better long-term value.
Criminal Justice and Corrections
Criminal Justice graduates 36 students with first-year earnings of $32,898 climbing to $45,173 by year four. Median debt of $32,261 yields a 0.98 debt-to-earnings ratio (D grade). Pipeline into Alabama law enforcement, corrections, and federal agency roles. Among ASU's better non-business program ROIs, but the debt load still pushes the ratio close to 1.0.
Rehabilitation and Therapeutic Professions
Rehab/Therapeutic Professions graduates 31 students with first-year earnings of $22,847 climbing to $40,152 by year four. Median debt of $33,000 yields a 1.44 debt-to-earnings ratio (F grade) — among the worst in ASU's program data. Students typically need graduate-level credentials (MSW, MS in counseling) for the field to pay; the bachelor's-only path is financially indefensible at this debt level.
How Graduates Do
Earnings
Loan Repayment
| Metric | This School | Nat'l Avg |
|---|---|---|
| 1-year repayment | 24.5% | 52.0% |
| 3-year repayment | 36.6% | 62.0% |
| 5-year repayment | 29.0% | 68.0% |
| 7-year repayment | 32.3% | 72.0% |
Completion Rate
Admissions Snapshot
| Acceptance rate | 97.5% |
| SAT Math (25th-75th) | 350-462 |
| SAT Reading (25th-75th) | 399-505 |
| ACT Composite (25th-75th) | 15-20 |
| Enrollment | 3,477 |
| Pell Grant recipients | 71.3% |
| Avg faculty salary (monthly) | $8,153 |
ASU admits 97.6% of applicants — effectively open access. SAT mid-ranges of 350-462 (math) and 399-505 (reading) plus an ACT range of 15-20 indicate a student body arriving with significant academic preparation gaps, primarily from underfunded Alabama high schools. The combination of open admission and weak academic preparation correlates directly with the 30.3% completion rate. Students arriving college-ready can succeed here, but the population-level math reflects the structural challenges of educating an under-resourced population.
Compared to Similar Schools
Peer institutions matched by type, size, and selectivity.
Among ASU's listed peers — Alabama A&M, UAB, Central State University, Savannah State, and Langston University — UAB is a structural mis-comparison (an R1 medical-anchor flagship with substantially higher ROI). The HBCU peers Alabama A&M, Central State, Savannah State, and Langston post Poor Value scores, with Alabama A&M and Savannah State somewhat better on completion. ASU sits at or near the bottom of this peer set on most ROI metrics, particularly debt-to-earnings and repayment.
| School | ROI | Net Price | 10yr Earnings |
|---|---|---|---|
| Alabama State University (this school) | 5 | $20,435 | $34,502 |
| Bennett College | 6 | $28,299 | $36,654 |
| Mississippi Valley State University | 5 | $9,686 | $31,919 |
| Harris-Stowe State University | 5 | $9,922 | $31,088 |
| Langston University | 5 | $11,504 | $33,261 |
| Wiley University | 5 | $7,092 | $33,159 |
Who Thrives Here
ASU fits Alabama-resident students drawn to its HBCU mission, marching band tradition, and Montgomery cultural setting. With 3,477 students and a 71.3% Pell rate, the campus is small, working-poor-majority, and access-oriented. Students who succeed here typically arrive with strong family support, a clear major focus (most strongly accounting and teacher education), and a disciplined plan to minimize borrowing. The financial risk is substantial: median debt of $31,000 against $24,400 early earnings produces brutal ratios, and the 30.3% completion rate means many borrowers leave without the credential to service the debt.
The Verdict: The Numbers Don't Add Up
The financial data raises serious concerns about Alabama State University. With a net cost of $20,435 per year and median graduate earnings of only $34,502 ten years out, the estimated payback period exceeds >50 years. For most students, the financial return does not justify the cost.
Areas of concern include weak earnings relative to cost and a 30.3% graduation rate and high debt relative to what graduates earn and concerning loan repayment rates and a long payback period.
Median debt of $31,000 against $34,502 in earnings is concerning. The debt-to-earnings ratio of 0.90 exceeds the commonly recommended threshold. Major choice is critical here.
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Data: College Scorecard API (U.S. Department of Education)
Vintage: 2024-2025 · Last updated: 2026-03-25
Earnings reflect median outcomes for all federal financial aid recipients. Individual results vary by major, effort, and career path.