Bates College
Lewiston, Maine · Private Nonprofit · 13.3% acceptance rate
ROI Score: 82/100 · Strong Value
Bates College is a highly selective private nonprofit liberal arts college in Lewiston, Maine, enrolling approximately 1,760 students. It earns an overall ROI score of 82 — Strong Value — a remarkable result for a college with a sticker tuition of $66,590, because its net price of $29,351 is dramatically lower than list price due to generous need-based aid. For low-income students, the average net price is just $2,397, making Bates among the most affordable highly selective institutions in the country on an income-adjusted basis. Completion rates are exceptional at 90%, and 90% of borrowers are making loan repayment progress three years out. Median debt is just $14,275 — unusually low for a private institution of this caliber, reflecting the institution's strong grant-based financial aid model. Six-year median earnings of $46,000 and ten-year earnings of $69,498 reflect a 29% earnings premium, which is solid for a liberal arts institution and likely understated by the significant share of alumni who pursue graduate or professional degrees. The 7.5-year payback period is competitive for a highly selective private college.
Bates College scores in the top 25% of all schools we track, with strong earnings outcomes relative to cost.
Bates College
Quick Numbers
| In-state tuition + fees | $66,590/yr |
| Out-of-state tuition + fees | $66,590/yr |
| Average net price | $29,351/yr |
| Total 4-year cost (net) | $117,404 |
| Median earnings (10yr post-entry) | $69,498 |
| Median earnings (6yr post-entry) | $46,000 |
| Median debt at graduation | $14,275 |
| Estimated monthly loan payment | $151 |
| Estimated payback period | 7.5 years |
| 6-year graduation rate | 89.7% |
| Undergraduate enrollment | 1,760 |
Data as of 2024-2025. Source: College Scorecard API (U.S. Department of Education).
The Full Financial Picture
The sticker price at Bates College is $66,590/year. But sticker price isn't what most students pay. After grants, scholarships, and financial aid, the average student pays a net price of $29,351/year, or roughly $117,404 over four years.
That net price varies significantly by family income. The lowest-income families (under $30,000/year) pay an average of $2,397/year, while families earning over $110,000 pay $45,886/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 $14,275 in federal loan debt, translating to an estimated monthly payment of $151 on a standard 10-year repayment plan. Against median earnings of $69,498 ten years out, the debt-to-earnings ratio is 0.31 - 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 | $2,397 |
| $30,001 - $48,000 | $8,958 |
| $48,001 - $75,000 | $11,336 |
| $75,001 - $110,000 | $19,468 |
| $110,001+ | $45,886 |
Cost by Income Bracket Explained
Lower-income families (under $30K)
For students from families earning under $30,000, Bates's average net price of $2,397 makes it one of the most affordable highly selective colleges in the nation. With $14,275 in median institutional debt and strong alumni networks facilitating career access, low-income students at Bates receive an exceptional value-adjusted credential. Loan burden is minimal and the degree confers significant labor market signaling.
Middle-income families ($30K-$110K)
Middle-income students ($48,001–$75,000) pay $11,336 in net price — still far below what most private colleges charge at this income level. The 7.5-year payback period reflects that even middle-income families get significant grant support. For students in this bracket choosing between Bates and less selective public flagships, the Bates credential's network and graduate school pipeline often more than compensate for any residual price differential.
Higher-income families ($110K+)
Higher-income students ($110,000-plus) face a net price of $45,886 — approaching full cost. At this level, families are essentially paying for the institution's brand, intellectual environment, and alumni network rather than the financial return on a standalone bachelor's degree. The case rests on graduate school placement, alumni network access, and the quality of the residential experience, all of which Bates delivers at elite levels.
Earnings by Major
Top 9 most popular majors at Bates College with available earnings data.
| Major | Median Earnings | Grade |
|---|---|---|
| Economics | $110,880 | A |
| International Relations | $80,714 | B+ |
| Research and Experimental Psychology | $47,376 | B+ |
| Natural Resources Conservation | $38,437 | B+ |
| Biology | $30,613 | B |
| Sociology | $42,170 | B+ |
| English Language and Literature | $62,082 | - |
| Romance Languages | $40,395 | - |
| Psychology | $65,926 | - |
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 Bates's strongest financial program and among the highest-performing at any liberal arts college. Graduates earn $71,187 one year out and $110,880 at four years — the latter reflecting career acceleration in finance, consulting, and business. Against just $13,000 in median debt, the ratio of 0.18 earns an A grade. With 65 annual graduates, this is the institution's largest tracked major and channels strongly into New York and Boston financial services.
International Relations
International Relations graduates earn $41,055 one year out and $80,714 at four years, with a debt-to-earnings ratio of 0.28 earning a B+ grade. The 54 graduates annually reflect a robust social sciences pipeline. The four-year earnings trajectory — nearly doubling from year one — suggests significant career progression or graduate school completion improving employment outcomes. This program benefits from Bates's strong alumni network in government, international organizations, and consulting.
Research and Experimental Psychology
Research Psychology graduates earn $47,376 one year out, with median debt of $13,750 yielding a debt-to-earnings ratio of 0.29 that earns a B+ grade. The 50 graduates annually likely include a substantial share pursuing doctoral programs in psychology or neuroscience, explaining the solid earnings relative to most bachelor's-level psychology programs nationally. Low debt levels make this program financially viable even for students entering lower-paying research roles.
Biology
Biology graduates earn $30,613 one year out — modest numbers reflecting the pre-professional or pre-graduate school stage for many students. Median debt of $12,850 and a debt-to-earnings ratio of 0.42 earn a B grade. Early earnings are likely understated for a Bates biology graduate; many will complete medical school or PhD programs that substantially elevate lifetime earnings. The low debt profile is the critical financial advantage.
How Graduates Do
Earnings
Loan Repayment
| Metric | This School | Nat'l Avg |
|---|---|---|
| 1-year repayment | 82.9% | 52.0% |
| 3-year repayment | 90.2% | 62.0% |
| 5-year repayment | 93.9% | 68.0% |
| 7-year repayment | 93.4% | 72.0% |
Completion Rate
Admissions Snapshot
| Acceptance rate | 13.3% |
| SAT Math (25th-75th) | 710-780 |
| SAT Reading (25th-75th) | 710-750 |
| ACT Composite (25th-75th) | 31-34 |
| Enrollment | 1,760 |
| Pell Grant recipients | 11.5% |
| Avg faculty salary (monthly) | $11,886 |
Bates admitted only 13% of applicants, placing it among the most selective liberal arts colleges nationally. SAT mid-ranges are 710–780 in math and 710–750 in reading; ACT composite mid-range is 31–34. Bates was an early adopter of test-optional admissions and remains so, meaning the reported score ranges reflect only students who chose to submit. Students should present strong academic records, thoughtful essays, and demonstrated intellectual engagement outside the classroom.
Compared to Similar Schools
Peer institutions matched by type, size, and selectivity.
Bates's closest peers are Bowdoin and Colby colleges in Maine — together forming the 'NESCAC' trio that dominates Maine's liberal arts landscape — alongside Grinnell and Davidson nationally. Bowdoin posts slightly higher ten-year earnings, reflecting a somewhat stronger NYC finance pipeline. Colby is investing heavily in career services and outcomes data. Among this group, Bates's debt metric of $14,275 median stands out as exceptionally low, and its income-adjusted net prices for low-income students are among the strongest in New England.
| School | ROI | Net Price | 10yr Earnings |
|---|---|---|---|
| Bates College (this school) | 82 | $29,351 | $69,498 |
| Bowdoin College | 92 | $14,398 | $82,735 |
| Davidson College | 90 | $17,379 | $81,400 |
| Haverford College | 87 | $25,314 | $79,966 |
| Grinnell College | 83 | $17,648 | $62,830 |
| College of the Atlantic | 25 | $25,184 | $40,264 |
Who Thrives Here
Bates is designed for high-achieving students seeking a rigorous residential liberal arts education with strong connections to graduate school, finance, policy, and non-profit sectors. The 13% admission rate signals highly competitive admissions. Only 12% of students receive Pell Grants — the institution draws a predominantly affluent applicant pool, though it is committed to meeting 100% of demonstrated need for admitted students. Students who thrive are intellectually curious, comfortable with ambiguity in career pathways, and willing to invest in graduate education after Bates.
The Verdict: The Investment Pays Off
Bates College delivers above-average financial returns for its graduates. At a net cost of $29,351 per year ($117,404 over four years), graduates earn a median of $69,498 ten years after enrollment. That puts the payback period at roughly 7.5 years - a solid return on the investment.
The data highlights several strengths: a 89.7% graduation rate, manageable debt relative to earnings, high loan repayment success.
Median debt of $14,275 is very manageable against $69,498 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.