Amherst College
Amherst, Massachusetts · Private Nonprofit · 9.0% acceptance rate
ROI Score: 90/100 · Exceptional Value
Amherst scores a 90 (Exceptional Value) -- the top tier on this site -- as a small liberal arts college in Amherst, MA with 1,911 undergraduates. The school's 5.5-year payback period is longer than peer research universities, but the underlying debt picture is clean: median debt of $13,740, a debt-to-earnings ratio of 0.223, and a 93.9% completion rate. Median 6-year earnings of $61,600 and 10-year earnings of $77,644 reflect the college's program mix, which skews toward economics, mathematics, and the social sciences rather than engineering. The ROI case for Amherst rests less on immediate earnings and more on the combination of unusually low debt, near-total completion, and a financial aid program that makes sticker price largely irrelevant for lower-income students. At $70,480 sticker, Amherst is priced identically to most elite private universities -- but net price of $23,367 across all students tells a different story. Economics (69 graduates, $90,568 at year one, $141,730 at year four) and Computer Science (55 graduates, $100,596 at year one, $142,680 at year four) are the highest-earning programs in the dataset and represent the strongest ROI cases. Mathematics (81 graduates, $78,500 at year one) offers a strong middle path. The 9.0% admission rate places Amherst among the most selective liberal arts colleges in the country; applicants should treat it as equivalent in selectivity to highly competitive research universities. The college's open curriculum -- no distribution requirements -- suits students who know what they want and are prepared to direct their own academic path.
At 0.22, median debt is a fraction of first-year salary. Financial advisors flag anything above 1.0. This school is well within safe territory.
Amherst College
Quick Numbers
| In-state tuition + fees | $70,480/yr |
| Out-of-state tuition + fees | $70,480/yr |
| Average net price | $23,367/yr |
| Total 4-year cost (net) | $93,468 |
| Median earnings (10yr post-entry) | $77,644 |
| Median earnings (6yr post-entry) | $61,600 |
| Median debt at graduation | $13,740 |
| Estimated monthly loan payment | $146 |
| Estimated payback period | 5.5 years |
| 6-year graduation rate | 93.9% |
| Undergraduate enrollment | 1,911 |
Data as of 2024-2025. Source: College Scorecard API (U.S. Department of Education).
The Full Financial Picture
The sticker price at Amherst College is $70,480/year. But sticker price isn't what most students pay. After grants, scholarships, and financial aid, the average student pays a net price of $23,367/year, or roughly $93,468 over four years.
That net price varies significantly by family income. The lowest-income families (under $30,000/year) pay an average of $1,086/year, while families earning over $110,000 pay $47,521/year. The school provides substantial aid to low-income students, making it significantly more affordable than the sticker price suggests.
The median graduate leaves with $13,740 in federal loan debt, translating to an estimated monthly payment of $146 on a standard 10-year repayment plan. Against median earnings of $77,644 ten years out, the debt-to-earnings ratio is 0.22 - well within manageable territory.
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 | $1,086 |
| $30,001 - $48,000 | $1,570 |
| $48,001 - $75,000 | $17,478 |
| $75,001 - $110,000 | $23,639 |
| $110,001+ | $47,521 |
Cost by Income Bracket Explained
Lower-income families (under $30K)
Families earning under $30,000 pay a net price of $1,086 per year -- effectively free. The $30,001-$48,000 bracket pays $1,570. Amherst's need-based aid model is among the most generous at any private college in the country; at a $70,480 sticker, paying $1,086 requires aid of roughly $69,000 per year. Low-income students who can gain admission face near-zero financial cost and receive access to the same alumni network as full-pay students.
Middle-income families ($30K-$110K)
The $48,001-$75,000 bracket pays $17,478 per year -- a significant jump from the brackets below. The $75,001-$110,000 bracket pays $23,639. The cliff between the $30,001-$48,000 bracket ($1,570) and the $48,001-$75,000 bracket ($17,478) is steep; families just above $48k should model the net price calculator carefully. Still, $17-24k per year for a school with a 5.5-year payback and strong economics and CS outcomes remains a defensible investment for middle-income families.
Higher-income families ($110K+)
Families earning $110,000+ pay $47,521 per year -- approximately $190,000 over four years at full net price. Against median 6-year earnings of $61,600, the payback period extends to 5.5 years, which is longer than most research university peers. The ROI is more defensible for students targeting economics or CS (year-one earnings of $90k-$100k) than for students in the arts, humanities, or lower-earning social sciences. Full-pay families should factor major-specific earnings, not institution-wide medians, into the decision.
Earnings by Major
Top 10 most popular majors at Amherst College with available earnings data.
| Major | Median Earnings | Grade |
|---|---|---|
| Mathematics | $124,324 | A |
| Economics | $141,730 | A |
| Research and Experimental Psychology | $69,204 | A |
| Computer Science | $142,680 | A |
| International Relations | $63,754 | - |
| Romance Languages | $60,212 | - |
| History | $103,601 | - |
| English Language and Literature | $65,195 | - |
| Area Studies | $68,618 | - |
| Neurobiology and Neurosciences | $38,387 | - |
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.
Economics
Economics is the highest-enrollment, highest-earning program at Amherst with sufficient outcome data: 69 graduates, $90,568 median at one year, $141,730 at four years (ROI grade A, debt-to-earnings 0.184). These are outcomes comparable to economics programs at research universities three times Amherst's size. The four-year figure reflects the finance, consulting, and technology sector pipelines that Amherst economics alumni access via the college's alumni network and recruiting relationships with major financial institutions and consulting firms. Median debt of $16,662 is low given the sticker price, confirming that financial aid absorbs most of the cost for typical students.
Computer Science
Amherst CS produces 55 graduates per year at $100,596 median year-one earnings and $142,680 at four years (ROI grade A, debt-to-earnings 0.167). The year-one figure is the highest in the school's program dataset -- a small liberal arts CS program delivering $100k entry-level outcomes is a meaningful signal about placement quality. Median debt of $16,750 against $100k earnings produces one of the cleaner ROI ratios in the dataset. Students interested in software engineering or quantitative technology roles who want a small-college environment rather than a large research university should weigh this program seriously.
Mathematics
Mathematics at Amherst (81 graduates, $78,500 at year one, $124,324 at four years) earns ROI grade A with a 0.188 debt-to-earnings ratio. The four-year figure -- $124k -- reflects how quickly math majors from selective liberal arts colleges migrate into finance, actuarial work, data science, and graduate programs that convert the degree into higher-paying roles. At 81 graduates, this is the largest program in the dataset, suggesting it functions as a catch-all for quantitatively oriented students who have not committed to economics or CS.
Research and Experimental Psychology
Research Psychology (66 graduates) earns $45,786 at year one and $69,204 at four years with a 0.236 debt-to-earnings ratio and ROI grade A. By liberal arts psychology standards, these outcomes are solid -- median debt of $10,800 is notably low, producing a clean debt-to-earnings ratio despite modest year-one earnings. The program functions as a pre-graduate-school pipeline; the four-year figure reflects students who complete master's or doctoral programs and move into clinical, research, or organizational psychology roles.
How Graduates Do
Earnings
Loan Repayment
| Metric | This School | Nat'l Avg |
|---|---|---|
| 1-year repayment | 83.6% | 52.0% |
| 3-year repayment | 81.1% | 62.0% |
| 5-year repayment | 86.4% | 68.0% |
| 7-year repayment | 89.1% | 72.0% |
Completion Rate
Admissions Snapshot
| Acceptance rate | 9.0% |
| SAT Math (25th-75th) | 750-800 |
| SAT Reading (25th-75th) | 740-780 |
| ACT Composite (25th-75th) | 33-35 |
| Enrollment | 1,911 |
| Pell Grant recipients | 19.8% |
| Avg faculty salary (monthly) | $15,606 |
Amherst admits 9.0% of applicants, placing it in the most selective liberal arts college tier alongside Williams and Swarthmore. SAT Math 750-800 and Reading 740-780 are the mid-ranges; ACT 33-35. At this level of selectivity, test scores are a floor rather than a differentiator -- demonstrated intellectual curiosity, strong writing, and evidence of rigorous academic engagement outside the classroom carry significant weight. The small class size (roughly 490 students per year) means that the admit pool is shaped by institutional diversity goals as much as raw credentials.
Compared to Similar Schools
Peer institutions matched by type, size, and selectivity.
Amherst's Scorecard peers include Bowdoin, Pomona, and Davidson -- three comparable highly selective liberal arts colleges -- along with American International College and Anna Maria College, which are not meaningful academic comparisons but reflect geographic clustering in the data. Among the credible peers: Bowdoin and Pomona operate at similar selectivity and price points. Amherst's 93.9% completion rate and $13,740 median debt are competitive with Bowdoin's and Pomona's profiles. Amherst's economics program ($141,730 at 4 years) and CS program ($142,680 at 4 years) compare favorably to comparable programs at liberal arts peers. Davidson is a step below in selectivity and earnings outcomes.
| School | ROI | Net Price | 10yr Earnings |
|---|---|---|---|
| Amherst College (this school) | 90 | $23,367 | $77,644 |
| Bowdoin College | 92 | $14,398 | $82,735 |
| Pomona College | 90 | $19,285 | $77,779 |
| Davidson College | 90 | $17,379 | $81,400 |
| American International College | 38 | $23,274 | $53,124 |
| Anna Maria College | 28 | $28,333 | $46,651 |
Who Thrives Here
Admitted students cluster in the SAT 750-800 Math, 740-780 Reading range; ACT 33-35 composite. Amherst's 19.8% Pell rate is one of the highest among highly selective private colleges -- the financial aid program is genuinely broad, not concentrated at a narrow slice of lower-income families. Students who thrive here typically want small classes, close faculty contact, and a self-directed curriculum. Quantitatively oriented students pursuing economics, CS, or mathematics see the strongest earnings outcomes. Students entering without defined academic interests may find the open curriculum liberating or disorienting; there is no required core to fall back on.
The Verdict: The Investment Pays Off
Amherst College is one of the strongest financial investments in higher education. With a total 4-year net cost of $93,468 and median graduate earnings of $77,644 ten years out, the math works decisively in graduates' favor. The estimated payback period of 5.5 years is well below average.
The data highlights several strengths: strong earnings premium over high school graduates, a 93.9% graduation rate, manageable debt relative to earnings.
Median debt of $13,740 is very manageable against $77,644 in annual earnings - well within the financial advisor rule of thumb that total debt should not exceed first-year salary.
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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.