Alma College
Alma, Michigan · Private Nonprofit · 57.0% acceptance rate
ROI Score: 50/100 · Below Average Value
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 median 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. The ROI picture here is primarily a function of low earnings for most majors relative to the private tuition structure.
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 |
| Median 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 sticker price at Alma College is $49,552/year. But sticker price isn't what most students pay. After grants, scholarships, and financial aid, the average student pays a net price of $20,694/year, or roughly $82,776 over four years.
That net price varies significantly by family income. The lowest-income families (under $30,000/year) pay an average of $17,162/year, while families earning over $110,000 pay $23,618/year.
The median graduate leaves with $27,000 in federal loan debt, translating to an estimated monthly payment of $286 on a standard 10-year repayment plan. Against median earnings of $54,742 ten years out, the debt-to-earnings ratio is 0.74 - within the recommended range but worth monitoring.
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 median 6-year earnings and a 62.9% completion rate, this is a heavy commitment for low-income students. Better-value options exist in Michigan's public university system for low-income students, where Pell grants typically go further.
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 median earnings. Middle-income families should compare against Michigan's public universities carefully.
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 median 6-year earnings, and a 0.74 debt-to-earnings ratio. Unless nursing or a specific program with strong outcomes is the goal, full-pay families have better options.
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. This outcome is consistent with the national kinesiology pattern at small privates.
How Graduates Do
Earnings
Loan Repayment
| Metric | This School | Nat'l Avg |
|---|---|---|
| 1-year repayment | 74.4% | 52.0% |
| 3-year repayment | 79.5% | 62.0% |
| 5-year repayment | 75.2% | 68.0% |
| 7-year repayment | 82.8% | 72.0% |
Completion Rate
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.
Alma's Scorecard peers include Albion College, Adrian College, and Ohio Wesleyan University. Among small Michigan liberal arts colleges, Alma competes with Albion and Hope for students who want a residential liberal arts experience. Alma's 50 ROI score is Below Average Value, primarily due to the earnings gap relative to private tuition. Albion is a close comparable; Hope College (57) scores slightly higher. Students evaluating this cohort should compare net prices carefully -- Alma's unusually flat aid schedule means it may not be the most affordable option for lower-income students among Michigan's small privates.
| 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 financial case for Alma College is mixed. At $20,694 per year net cost, graduates earn a median of $54,742 ten years after entry - a payback period of 11.3 years. That's below the average return for four-year institutions, and prospective students should carefully consider whether the investment aligns with their financial goals.
Areas of concern include high debt relative to what graduates earn.
Median debt of $27,000 against $54,742 in earnings is reasonable, though major choice matters significantly. Students in higher-earning programs will see better returns.
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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.