Alma College
Alma, Michigan · Private Nonprofit · 57.0% acceptance rate
ROI Score: 50/100 · Below Average Value
Data: 2024-25 College Scorecard release
Alma College scores 50 (Below Average Value) on the CampusROI scale. The primary weaknesses are high debt relative to earnings (debt-to-earnings 0.740), a 62.9% completion rate, and average 6-year earnings of $36,500 against a $49,552 sticker tuition. The net price of $20,694 is meaningfully below sticker, and the income-based pricing is unusually compressed - all income brackets from 0-110k pay between $17,162 and $23,618, suggesting Alma's aid model does not heavily differentiate by income level. Registered Nursing (26 graduates) is the strongest program at $78,690 year-one and $80,386 at year four, though with no debt or ROI grade data reported. Teacher Education (28 graduates) earns a C grade. Kinesiology earns an F with debt-to-earnings of 1.061 and English Language/Literature an F at 1.112 - these programs have year-one earnings far below debt service levels. At 1,148 students, Alma is a small central Michigan liberal arts college with a Scottish heritage identity. The 27% Pell rate suggests a student body with moderate financial need.
Alma College
Quick Numbers
| In-state tuition + fees | $49,552/yr |
| Out-of-state tuition + fees | $49,552/yr |
| Average net price | $20,694/yr |
| Total 4-year cost (net) | $82,776 |
| Median earnings (10yr post-entry) | $54,742 |
| Average earnings (6yr post-entry) | $36,500 |
| Median debt at graduation | $27,000 |
| Estimated monthly loan payment | $286 |
| Estimated payback period | 11.3 years |
| 6-year graduation rate | 62.9% |
| Undergraduate enrollment | 1,148 |
Data as of 2024-2025. Source: College Scorecard API (U.S. Department of Education).
The Full Financial Picture
The first number you'll see is the sticker price: $49,552/year, which covers tuition and fees only. After grants, scholarships, and aid, the average student here pays a net price of $20,694/year, or roughly $82,776 over four years. That's the number to plan around.
What you actually pay depends a lot on what your family earns. Families making under $30,000/year pay an average of $17,162/year here, while families earning over $110,000 pay $23,618/year.
Among graduates who borrowed, the median federal loan debt from this school is $27,000, which works out to about $286 a month on the standard 10-year repayment plan. Our debt-to-earnings ratio divides that debt by average earnings six years after entry ($36,500) and comes to 0.74, under 1.0, meaning median debt is less than a full year of those earnings.
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 | $17,162 |
| $30,001 - $48,000 | $18,009 |
| $48,001 - $75,000 | $18,076 |
| $75,001 - $110,000 | $18,699 |
| $110,001+ | $23,618 |
Cost by Income Bracket Explained
Lower-income families (under $30K)
The 0-30000 bracket pays $17,162 per year - roughly $69,000 over four years. Against $36,500 average 6-year earnings and a 62.9% completion rate, this is a heavy commitment for low-income students.
Middle-income families ($30K-$110K)
The 48001-75000 bracket pays $18,076 and the 75001-110000 bracket pays $18,699. The flat pricing is notable - Alma charges nearly the same across a wide income range. Four-year costs of $72,000-$75,000 are significant against $36,500 average earnings.
Higher-income families ($110K+)
Families earning $110,000+ pay $23,618 per year - about $94,000 over four years. The full-pay case at Alma is difficult: 62.9% completion, $36,500 average 6-year earnings, and a 0.74 debt-to-earnings ratio.
Earnings by Major
Top 9 most popular majors at Alma College with available earnings data.
| Major | Median Earnings | Grade |
|---|---|---|
| Business Administration, Management, and Operations | $57,287 | C |
| Teacher Education | $44,458 | C |
| Registered Nursing | $80,386 | - |
| Psychology | $52,280 | C+ |
| Kinesiology and Exercise Science | $63,641 | F |
| Marketing | $53,871 | - |
| Accounting | $77,001 | - |
| English Language and Literature | $48,445 | F |
| Communication and Media Studies | $53,947 | - |
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.
Registered Nursing
Registered Nursing (26 graduates) earns $78,690 year-one and $80,386 at year four. The Scorecard does not report debt or ROI grade for this program. Year-one earnings of $78,690 are strong for central Michigan nursing employment. The flat trajectory from year one to year four ($78,690 to $80,386) is unusually compressed - suggests most graduates plateau in staff nurse roles rather than advancing to specialty or management tracks in the near term.
Teacher Education
Teacher Education (28 graduates) earns $45,983 year-one with a four-year figure of $44,458 - an unusual decline, suggesting the one-year figure reflects students in higher-paying interim roles before entering teaching. C grade (debt-to-earnings 0.632, median debt $29,062). Teacher salary ceilings in Michigan produce modest near-term earnings. The C grade captures the debt-to-earnings tension for this program at private school pricing.
Kinesiology and Exercise Science
Kinesiology (22 graduates) earns $25,445 year-one and $63,641 at year four (F grade, debt-to-earnings 1.061, median debt $27,000). Year-one earnings of $25k cannot support standard loan repayment on $27,000 in debt. The F grade accurately captures severe near-term financial stress. The four-year trajectory to $64k requires weathering years of negative cash flow.
How Graduates Do
Earnings
Loan Repayment
| Metric | This School | Median of schools we score |
|---|---|---|
| 1-year repayment | 74.4% | 68.8% |
| 3-year repayment | 79.5% | 73.6% |
| 5-year repayment | 75.2% | 67.7% |
| 7-year repayment | 82.8% | 72.8% |
Completion Rate
Trends Over Time
How Alma College’s cost and outcomes have moved across College Scorecard releases (2009-2024).
Average Net Price
Completion Rate
Median Earnings, 10 Years After Entry (as reported)
Earnings reflect borrowers measured 10 years after entry and publish on an irregular cadence with a multi-year reporting lag, so this series shows only the years the Department of Education reported - the data is never interpolated.
Source: U.S. Department of Education College Scorecard, release years shown. Net price and completion are reported annually.
Admissions Snapshot
| Acceptance rate | 57.0% |
| Enrollment | 1,148 |
| Pell Grant recipients | 27.0% |
| Avg faculty salary (monthly) | $7,879 |
Alma's 57% admission rate and absence of standardized test data in the Scorecard make it difficult to characterize the academic profile precisely. The school has moved toward test-optional practices. At 57%, admission is achievable for a broad range of students. The completion rate of 62.9% - rather than the admission rate - is the more relevant metric for prospective students.
Compared to Similar Schools
Peer institutions matched by type, size, and selectivity.
| School | ROI | Net Price | 10yr Earnings |
|---|---|---|---|
| Alma College (this school) | 50 | $20,694 | $54,742 |
| Albion College | 65 | $14,301 | $58,799 |
| Ohio Wesleyan University | 51 | $20,897 | $55,624 |
| Heritage University | 51 | $14,598 | $49,416 |
| Queens University of Charlotte | 49 | $30,857 | $57,673 |
| Adrian College | 39 | $25,368 | $55,504 |
Who Thrives Here
Alma admits 57% of applicants with SAT and ACT data not reported by the Scorecard. Enrollment is 1,148. The school is a small residential liberal arts college in central Michigan. The 62.9% completion rate is a concern. Students who complete tend to manage debt reasonably (repayment rate 79.5%), but the nearly 40% who do not finish face the worst of both worlds: debt accumulated without a degree. Students should assess fit with Alma's small, residential character and the relative scarcity of high-earning employer connections in central Michigan.
The Verdict: Proceed With Caution
The money case for Alma College is mixed, and worth a hard look before you commit. At $20,694 per year after aid, the typical graduate earns $54,742 ten years after entry, which means it takes about 11.3 years to earn the cost back. For context, the median payback across the schools we score is about 12 years. Whether it's worth it comes down to your major and your aid package.
What to keep an eye on: a debt-to-earnings ratio of 0.74 (median across the schools we score: 0.61).
Median debt of $27,000 among graduates who borrowed, against average earnings of $36,500 six years after entry, gives a debt-to-earnings ratio of 0.74. That is under 1.0 (a full year of those earnings); the median across the schools we score is about 0.61. Your major - and how much you borrow - really matters.
Alma College: Common Questions
Is Alma College worth it?
In our view, the money case is mixed and worth a hard look before you commit. Alma College scores 50/100 on our ROI scale. At $20,694 a year after aid the typical graduate earns $54,742 ten years after entry, so it takes about 11.3 years to earn the cost back. For context, the median payback across the schools we score is about 12 years.
How much does Alma College cost after financial aid?
The average net price - the cost of attendance (tuition, fees, books, supplies and average living costs) minus grants and scholarships, for full-time, first-time students receiving federal aid - is about $20,694 a year, or roughly $82,776 over four years. Because it counts living costs, it can run above tuition alone. That is the number to plan around. Actual cost varies by family income, per the U.S. Department of Education's College Scorecard.
What do Alma College graduates earn?
The typical graduate earns about $54,742 ten years after enrolling, roughly $12,942 a year more than the median high-school graduate ($41,800, per NCES, 2022). That earnings gap is what has to cover the cost of the degree.
How long does it take to pay off Alma College?
We estimate the payback period - the time it takes for the earnings bump over a high-school graduate to cover what you spent - at about 11.3 years for Alma College. The median across the schools we track is about 12 years.
How much debt do Alma College graduates take on?
Among graduates who borrowed, median federal loan debt from this school is about $27,000, against average earnings of $36,500 six years after entry - a debt-to-earnings ratio of 0.74. That is under 1.0 (a full year of those earnings); the median across the schools we score is about 0.61. How much you borrow really matters.
What is the graduation rate at Alma College?
The six-year graduation rate is 62.9%. The national average for four-year schools is 64% (NCES, 2022). Completion is 15% of our ROI score, since a degree you don't finish rarely pays back.
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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.