Alverno College
Milwaukee, Wisconsin · Private Nonprofit · 85.7% acceptance rate
ROI Score: 39/100 · Poor Value
Alverno College, a small Catholic women-oriented institution in Milwaukee, posts an ROI score of 39 -- Poor Value tier -- and the underlying numbers tell a familiar small-private story with extra rough edges. Median 10-year earnings are $53,145, modeled payback is 12.7 years, and debt-to-earnings sits at 0.70 against unusually high median debt of $27,000 (above the national median for a school this small). The most concerning numbers are completion (49.2%) and 5-year repayment (55.8%) -- both bottom-tier and indicating that finishing and repaying are real problems for half of starters. The school's Pell rate of 45.1% reflects substantial socioeconomic need, and aid does compress net price somewhat -- low-income families pay around $22,000, only modestly below the $22,540 average. The bright spot is nursing -- 59 graduates per year earning $72,005 first-year and $81,388 at four years, a strong cohort and the program where Alverno's value math actually pencils. Outside of nursing, debt-to-earnings ratios run ugly: liberal arts at 0.96, business at 0.86, teacher education at 0.72. Alverno is essentially a nursing school plus a struggling liberal-arts college; prospective students should weigh that breakdown carefully and choose the major before committing to the school.
The data raises concerns about Alverno College
These metrics fall below the thresholds most financial advisors recommend for a sound college investment. Review them carefully before committing.
- ROI Score39/100 - Poor Value tier (below 45). Most 4-year schools we track score 60 or higher.
Alverno College
Quick Numbers
| In-state tuition + fees | $34,086/yr |
| Out-of-state tuition + fees | $34,086/yr |
| Average net price | $22,540/yr |
| Total 4-year cost (net) | $90,160 |
| Median earnings (10yr post-entry) | $53,145 |
| Median earnings (6yr post-entry) | $38,600 |
| Median debt at graduation | $27,000 |
| Estimated monthly loan payment | $286 |
| Estimated payback period | 12.7 years |
| 6-year graduation rate | 49.2% |
| Undergraduate enrollment | 631 |
Data as of 2024-2025. Source: College Scorecard API (U.S. Department of Education).
The Full Financial Picture
The sticker price at Alverno College is $34,086/year. But sticker price isn't what most students pay. After grants, scholarships, and financial aid, the average student pays a net price of $22,540/year, or roughly $90,160 over four years.
That net price varies significantly by family income. The lowest-income families (under $30,000/year) pay an average of $22,032/year, while families earning over $110,000 pay $29,051/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 $53,145 ten years out, the debt-to-earnings ratio is 0.70 - 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 | $22,032 |
| $30,001 - $48,000 | $20,668 |
| $48,001 - $75,000 | $22,261 |
| $75,001 - $110,000 | $24,788 |
| $110,001+ | $29,051 |
Cost by Income Bracket Explained
Lower-income families (under $30K)
Families under $30,000 pay $22,032 net annually -- only modest discounting versus the $22,540 average net price. Pell carries most of the load, but institutional aid is thin. Four-year cost runs about $88,000. For a Pell-eligible nursing student who finishes, the math pencils against the strong nursing earnings; for non-nursing majors at this income level, the math is hard to defend.
Middle-income families ($30K-$110K)
Note an inverted bracket: families earning $30,001-$48,000 pay $20,668 -- LESS than the lowest-income tier and the lowest in the schedule. The $48,001-$75,000 group pays $22,261 (right at the school average). The $75,001-$110,000 bracket jumps to $24,788. Middle-income four-year totals run $83,000-$99,000. The math only works for nursing graduates; for everyone else, it's a steep ask.
Higher-income families ($110K+)
Families above $110,000 pay $29,051 -- about 85% of sticker, indicating limited institutional discounting at the top. Four years runs roughly $116,000. With median 10-year earnings of $53,145, the lifetime ROI math is weak unless the student is in nursing. High-income families should compare against Marquette nursing or UW-Milwaukee aggressively.
Earnings by Major
Top 8 most popular majors at Alverno College with available earnings data.
| Major | Median Earnings | Grade |
|---|---|---|
| Registered Nursing | $81,388 | C+ |
| Liberal Arts and Sciences | $53,631 | D |
| Teacher Education | $46,708 | D |
| Biology | $26,856 | - |
| Psychology | $45,066 | C |
| Business Administration, Management, and Operations | $62,340 | D |
| Rehabilitation and Therapeutic Professions | $36,361 | - |
| Business Administration and Management | $52,065 | - |
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
Nursing is Alverno's flagship and the program where the math works. With 59 graduates per year (the largest cohort) and $72,005 first-year and $81,388 four-year median earnings, Alverno nursing grads earn well -- benefiting from Wisconsin's healthy nursing wage scale and Milwaukee's hospital systems. The catch is debt: median debt of $34,000 is high for a nursing program, producing a 0.47 debt-to-earnings ratio and a C+ ROI grade. Nursing students should aggressively pursue scholarships and minimize borrowing -- the earnings support the field, but the school's debt loads are above norm.
Liberal Arts and Sciences
Liberal arts and sciences graduates 39 students per year and posts a D ROI grade. First-year earnings of $44,812 and four-year earnings of $53,631 are paired with median debt of $43,066 -- a striking number, well above any other program at Alverno. Debt-to-earnings of 0.96 means borrowing nearly equals annual earnings. This program looks like an over-borrowing trap; prospective students considering this track should look hard at UW-Milwaukee's liberal arts programs at a fraction of the cost.
Teacher Education
Teacher education graduates 20 students per year with $42,709 first-year and $46,708 four-year median earnings. Median debt of $30,584 produces a 0.72 debt-to-earnings ratio and a D ROI grade. Wisconsin's teacher salary scale is moderate; combined with Alverno's debt loads, the math doesn't work without TEACH grants or Public Service Loan Forgiveness pathways. Prospective teachers should plan PSLF eligibility carefully.
Business Administration, Management, and Operations
Business graduates 8 students per year with $38,870 first-year and $62,340 four-year median earnings. Median debt of $33,225 yields a 0.86 debt-to-earnings ratio and a D ROI grade. Small cohort, high debt, and weak first-year earnings make this a difficult value proposition. Prospective business students should look at UW-Milwaukee or Marquette's Lubar School of Business as alternatives.
Psychology
Psychology graduates 10 students per year with $45,066 four-year median earnings (first-year not reported). Median debt of $31,250 yields a 0.69 debt-to-earnings ratio and a C ROI grade -- the best non-nursing grade on campus. Psychology only converts at this debt level with master's or doctoral follow-on. Prospective psychology students should commit to graduate school plans before paying small-private tuition for this major.
How Graduates Do
Earnings
Loan Repayment
| Metric | This School | Nat'l Avg |
|---|---|---|
| 1-year repayment | 60.8% | 52.0% |
| 3-year repayment | 68.0% | 62.0% |
| 5-year repayment | 55.8% | 68.0% |
| 7-year repayment | 58.5% | 72.0% |
Completion Rate
Admissions Snapshot
| Acceptance rate | 85.7% |
| Enrollment | 631 |
| Pell Grant recipients | 45.1% |
| Avg faculty salary (monthly) | $6,282 |
Alverno admits 85.7% of applicants -- broadly accessible. SAT and ACT score ranges are not reported in current Scorecard data, suggesting test-optional admissions and small reporting cohorts. Combined with a 49.2% completion rate, the picture is of a school admitting students with uneven academic preparation, where finishing isn't guaranteed. Prospective students -- particularly those not headed for the nursing track -- should self-assess academic readiness honestly.
Compared to Similar Schools
Peer institutions matched by type, size, and selectivity.
Alverno's named peers are Bellin College, Beloit College, Parker University, Harrisburg University of Science and Technology, and Peirce College. The peer set is uneven -- Bellin (a Wisconsin nursing-focused school) is the closest analog and posts substantially better ROI thanks to its all-nursing program mix. Beloit is a more traditional liberal-arts college with stronger completion. Peirce and Parker are vocationally focused. Within the cohort, Alverno is closer to Beloit on academic profile but closer to Parker on outcomes -- not a flattering peer comparison.
| School | ROI | Net Price | 10yr Earnings |
|---|---|---|---|
| Alverno College (this school) | 39 | $22,540 | $53,145 |
| Bellin College | 72 | $37,408 | $76,222 |
| Beloit College | 52 | $21,526 | $53,260 |
| Parker University | 39 | $29,135 | $42,091 |
| Peirce College | 38 | $12,148 | $50,660 |
| Harrisburg University of Science and Technology | 38 | $15,376 | $52,374 |
Who Thrives Here
Alverno fits a Milwaukee-area, often first-generation, often Pell-eligible student (45.1% Pell) drawn to a small (631 students) all-women undergraduate environment with a strong nursing pipeline. The school's signature ability-based assessment system is genuinely distinctive and works for students who thrive on portfolio and project work rather than traditional exams. Strong fits are nursing students who can complete the rigorous BSN program. Weaker fits are humanities and general business students who would face the school's worst ROI subgroups; those students should compare against UW-Milwaukee or Marquette seriously.
The Verdict: The Numbers Don't Add Up
The financial data raises serious concerns about Alverno College. With a net cost of $22,540 per year and median graduate earnings of only $53,145 ten years out, the estimated payback period exceeds 12.7 years. For most students, the financial return does not justify the cost.
Areas of concern include weak earnings relative to cost and a 49.2% graduation rate and high debt relative to what graduates earn and concerning loan repayment rates.
Median debt of $27,000 against $53,145 in earnings is reasonable, though major choice matters significantly. Students in higher-earning programs will see better returns.
NewsletterCollege decisions are better with data.
New analyses, updated school profiles, and tools - when there’s something worth acting on.
Rankings & Links
Guides & Tools
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.