Bethany Lutheran College
Mankato, Minnesota · Private Nonprofit · 39.0% acceptance rate
ROI Score: 35/100 · Poor Value
Bethany Lutheran College, a small private-nonprofit in Mankato, Minnesota, scores 35 overall and lands in the Poor Value tier. The numbers split sharply: repayment rate is excellent at 84.9% (sub-score 85), and completion is moderate at 54.9% -- but earnings are weak. Median earnings of $31,100 at six years and $46,110 at ten years against $23,000 median debt produce a 0.74 debt-to-earnings ratio and a 19.9-year payback period. Sticker tuition is $31,360, with net price $20,148 and four-year total cost just over $80,000. The Pell rate of 22.5% indicates a mostly middle-income student body. Enrollment of 669 reflects a small-college environment with limited program breadth. The contradiction here is informative: strong repayment behavior suggests graduates are responsible borrowers servicing loans on modest incomes, but the underlying earnings ceiling caps the financial value. The college's Lutheran liberal-arts mission is the real product -- the ROI math is a secondary consideration that does not work cleanly.
The data raises concerns about Bethany Lutheran College
These metrics fall below the thresholds most financial advisors recommend for a sound college investment. Review them carefully before committing.
- ROI Score35/100 - Poor Value tier (below 45). Most 4-year schools we track score 60 or higher.
- Payback period19.9 years - Most 4-year schools we track have payback periods of 4-10 years.
Bethany Lutheran College
Quick Numbers
| In-state tuition + fees | $31,360/yr |
| Out-of-state tuition + fees | $31,360/yr |
| Average net price | $20,148/yr |
| Total 4-year cost (net) | $80,592 |
| Median earnings (10yr post-entry) | $46,110 |
| Median earnings (6yr post-entry) | $31,100 |
| Median debt at graduation | $23,000 |
| Estimated monthly loan payment | $244 |
| Estimated payback period | 19.9 years |
| 6-year graduation rate | 54.9% |
| Undergraduate enrollment | 669 |
Data as of 2024-2025. Source: College Scorecard API (U.S. Department of Education).
The Full Financial Picture
The sticker price at Bethany Lutheran College is $31,360/year. But sticker price isn't what most students pay. After grants, scholarships, and financial aid, the average student pays a net price of $20,148/year, or roughly $80,592 over four years.
That net price varies significantly by family income. The lowest-income families (under $30,000/year) pay an average of $12,571/year, while families earning over $110,000 pay $24,961/year.
The median graduate leaves with $23,000 in federal loan debt, translating to an estimated monthly payment of $244 on a standard 10-year repayment plan. Against median earnings of $46,110 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 | $12,571 |
| $30,001 - $48,000 | $16,564 |
| $48,001 - $75,000 | $17,233 |
| $75,001 - $110,000 | $20,099 |
| $110,001+ | $24,961 |
Cost by Income Bracket Explained
Lower-income families (under $30K)
Families under $30,000 pay $12,571 net -- well below the average. Four-year cost is around $50,300, against $46,110 in 10-year earnings. The aid model materially helps low-income families, but the underlying earnings ceiling still puts four-year cost slightly above 10-year median earnings. The math is tight even at the best-priced bracket.
Middle-income families ($30K-$110K)
Middle-income families ($48,001-$75,000) pay $17,233 net, four-year cost roughly $69,000. The brackets march cleanly upward (no inversions), suggesting consistent need-based aid policy. But four-year cost now exceeds 10-year median earnings by ~$23K -- a hard sell on pure financial terms.
Higher-income families ($110K+)
The $75,001-$110,000 bracket pays $20,099, and $110,000+ pays $24,961 -- still below the $31,360 sticker, signaling modest merit discounting persists at higher incomes. Four-year cost at the top tier is roughly $99,800. For high-income families this is a values-driven decision -- the financial math is upside-down relative to graduate earnings.
Earnings by Major
Top 1 most popular majors at Bethany Lutheran College with available earnings data.
| Major | Median Earnings | Grade |
|---|---|---|
| Business Administration, Management, and Operations | $53,811 | C |
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.
Business Administration, Management, and Operations
Business Administration is the only program with full reported data: 26 graduates earning $44,462 in year one and $53,811 by year four, against $26,000 median debt for a 0.585 ratio (C grade). Solid first-year earnings for a small-college business program reflect Mankato-area employer demand (insurance, agribusiness, retail). The 4-year growth is modest, signaling steady but not high-growth career paths. The most defensible major at the institution from a financial standpoint.
How Graduates Do
Earnings
Loan Repayment
| Metric | This School | Nat'l Avg |
|---|---|---|
| 1-year repayment | 79.4% | 52.0% |
| 3-year repayment | 84.9% | 62.0% |
| 5-year repayment | 82.9% | 68.0% |
| 7-year repayment | 84.0% | 72.0% |
Completion Rate
Admissions Snapshot
| Acceptance rate | 39.0% |
| SAT Math (25th-75th) | 490-600 |
| SAT Reading (25th-75th) | 550-580 |
| ACT Composite (25th-75th) | 21-26 |
| Enrollment | 669 |
| Pell Grant recipients | 22.5% |
| Avg faculty salary (monthly) | $7,253 |
Bethany Lutheran admits 39% of applicants -- one of the more selective small private-nonprofits in this batch. SAT mid-ranges (Math 490-600, Reading 550-580) and ACT 21-26 reflect a college-ready student body well above national medians for liberal-arts schools at this scale. The 54.9% completion rate is moderate -- not great for a relatively selective school. The selectivity-completion mismatch suggests financial constraints (rather than academic preparation) are likely driving non-completion.
Compared to Similar Schools
Peer institutions matched by type, size, and selectivity.
Bethany's peers split into two groups. Augsburg University and Bethel University are direct in-state Lutheran-affiliated peers with larger scale and somewhat stronger outcomes (Bethel especially). Mount Marty (SD) is a similar Catholic small-college peer. Parker University (TX chiropractic-focused) and Peirce College (PA online-flexible adult-learner) are outliers. Within the closest peer band, Bethany sits behind Augsburg and Bethel on earnings but ahead on repayment behavior -- the small-college mission fit is similar.
| School | ROI | Net Price | 10yr Earnings |
|---|---|---|---|
| Bethany Lutheran College (this school) | 35 | $20,148 | $46,110 |
| Bethel University | 71 | $28,556 | $63,764 |
| Augsburg University | 53 | $23,873 | $58,829 |
| Parker University | 39 | $29,135 | $42,091 |
| Peirce College | 38 | $12,148 | $50,660 |
| Mount Marty University | 34 | $22,227 | $48,179 |
Who Thrives Here
Bethany Lutheran fits Minnesota students drawn to a 669-student Lutheran liberal-arts environment, especially future business professionals, teachers, ministers, and music educators. Pell rate of 22.5% indicates a mostly middle-class student body. Earnings outcomes are modest -- this is not a financial-return institution. The strongest fit is for students with clear faith-and-vocation alignment who value small-college mentorship and Lutheran identity over earnings maximization.
The Verdict: The Numbers Don't Add Up
The financial data raises serious concerns about Bethany Lutheran College. With a net cost of $20,148 per year and median graduate earnings of only $46,110 ten years out, the estimated payback period exceeds 19.9 years. For most students, the financial return does not justify the cost.
Key strengths include high loan repayment success. However, the data also shows weak earnings relative to cost and high debt relative to what graduates earn and a long payback period.
Median debt of $23,000 against $46,110 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.