Black Hills State University
Spearfish, South Dakota · Public · 96.3% acceptance rate
ROI Score: 31/100 · Below Benchmark
Data: 2024-25 College Scorecard release
Black Hills State University in Spearfish, South Dakota scores ROI 31 (Below Benchmark) - a regional public with 1,928 undergraduates in the northern Black Hills. Average 6-year earnings land at $31,300, rising slowly to a median $46,674 at 10 years. The completion rate of 42.6% means fewer than half of enrolled students graduate, and the debt-to-earnings ratio of 0.831 indicates graduates carry more than 10 months' worth of annual earnings in debt. The payback period of 17.4 years is the school's starkest affordability problem at a net price of $15,911. Teacher Education is the largest program (41 graduates, C+ ROI grade) and is the primary labor market pathway for BHSU graduates into Spearfish-area school districts. Business Administration (82 graduates) and Biology (27 graduates) are the other main programs. South Dakota's economy and salary benchmarks mechanically suppress Scorecard earnings for graduates who stay in-state.
How Black Hills State University scores under our methodology
These are the College Scorecard measures that pull this school's CampusROI score down. They describe the published figures, not the quality of the education, and they are our reading of the data. Check them against your own aid offer and intended major.
- ROI Score31/100 - Below Benchmark tier of our scale (below 45). For context, 38% of the schools we score reach 60 or higher.
- Payback period17.4 years - The median payback across the schools we score is about 12 years.
Black Hills State University
Quick Numbers
| In-state tuition + fees | $8,764/yr |
| Out-of-state tuition + fees | $11,866/yr |
| Average net price | $15,911/yr |
| Total 4-year cost (net) | $63,644 |
| Median earnings (10yr post-entry) | $46,674 |
| Average earnings (6yr post-entry) | $31,300 |
| Median debt at graduation | $26,000 |
| Estimated monthly loan payment | $276 |
| Estimated payback period | 17.4 years |
| 6-year graduation rate | 42.6% |
| Undergraduate enrollment | 1,928 |
Data as of 2024-2025. Source: College Scorecard API (U.S. Department of Education).
The Full Financial Picture
The first number you'll see is the sticker price: $8,764/year ($11,866/year out-of-state), which covers tuition and fees only. The net price counts books, supplies, and average living costs on top of tuition and fees, then subtracts grants and scholarships. For the average student here it comes to $15,911/year, or roughly $63,644 over four years. That's the number to plan around.
What you actually pay depends a lot on what your family earns. Families making under $30,000/year pay an average of $11,863/year here, while families earning over $110,000 pay $18,604/year.
Among graduates who borrowed, the median federal loan debt from this school is $26,000, which works out to about $276 a month on the standard 10-year repayment plan. Our debt-to-earnings ratio divides that debt by average earnings six years after entry ($31,300) and comes to 0.83, under 1.0, meaning median debt is less than a full year of those earnings.
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 | $11,863 |
| $30,001 - $48,000 | $13,379 |
| $48,001 - $75,000 | $15,588 |
| $75,001 - $110,000 | $18,072 |
| $110,001+ | $18,604 |
Cost by Income Bracket Explained
Lower-income families (under $30K)
Families under $30,000 pay $11,863 per year. Over four years that is roughly $47,452. Against average 6-year earnings of $31,300 and a 17.4-year payback, even at the lowest net price, BHSU struggles to deliver financial value for most programs. Teacher education graduates can manage their loans; most others face real pressure.
Middle-income families ($30K-$110K)
The 30,001-48,000 bracket pays $13,379. The 48,001-75,000 bracket rises to $15,588, and the 75,001-110,000 bracket climbs to $18,072. The cost slope through the middle range is moderate - about a $6,200 increase across the full middle band. South Dakota's lower state income levels mean the 75,001-110,000 bracket likely represents a smaller share of BHSU's enrollment than it would at urban schools.
Higher-income families ($110K+)
Families earning $110,000+ pay $18,604 per year. Over four years that is roughly $74,416. High-income South Dakota families considering BHSU are likely drawn by geography and cultural fit.
Earnings by Major
Top 10 most popular majors at Black Hills State University with available earnings data.
| Major | Median Earnings | Grade |
|---|---|---|
| Business Administration, Management, and Operations | $59,626 | C |
| Teacher Education | $44,958 | C+ |
| Biology | $40,967 | D |
| Kinesiology and Exercise Science | $55,622 | D |
| Community Organization and Advocacy | $42,781 | D |
| Psychology | $42,417 | D |
| Teacher Education, Subject-Specific | $52,883 | - |
| Sociology | $49,833 | D |
| Communication and Media Studies | $45,537 | - |
| Special Education and Teaching | $48,332 | 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 BHSU's largest program by graduate count at 82 students. Median 1-year earnings of $45,682 and 4-year earnings of $59,626 track entry-level management and operations roles in the Black Hills economy, which is dominated by tourism, small retail, and local services. The 0.591 debt-to-earnings ratio (ROI grade C) with $27,000 median debt is marginally functional.
Teacher Education
Teacher Education produces 41 graduates annually - BHSU's clearest career pathway. Median 1-year earnings of $47,978 and 4-year earnings of $44,958 show a slight negative trajectory, which likely reflects salary compression in South Dakota teacher pay scales. The 0.548 debt-to-earnings ratio (ROI grade C+) with $26,312 median debt is workable. South Dakota's public school system has ongoing demand for certified teachers, particularly in rural districts, and BHSU's geographic placement in Spearfish puts it in direct proximity to western South Dakota school districts with openings.
Biology
Biology produces 27 graduates per year with median 1-year earnings of $33,518 and 4-year earnings of $40,967. The 0.794 debt-to-earnings ratio (ROI grade D) with $26,613 median debt signals real financial stress. The low 4-year earnings suggest most BHSU biology graduates either stay in South Dakota in entry-level science roles or pursue graduate education with additional debt. Biology as a terminal degree in Spearfish, South Dakota delivers poor financial outcomes by the data.
How Graduates Do
Earnings
Loan Repayment
| Metric | This School | Median of schools we score |
|---|---|---|
| 1-year repayment | 73.2% | 68.8% |
| 3-year repayment | 77.7% | 73.6% |
| 5-year repayment | 68.7% | 67.7% |
| 7-year repayment | 73.1% | 72.8% |
Completion Rate
Trends Over Time
How Black Hills State University’s cost and outcomes have moved across College Scorecard releases (2009-2024).
Average Net Price
Completion Rate
Median Earnings, 10 Years After Entry (as reported)
Earnings reflect borrowers measured 10 years after entry and publish on an irregular cadence with a multi-year reporting lag, so this series shows only the years the Department of Education reported - the data is never interpolated.
Source: U.S. Department of Education College Scorecard, release years shown. Net price and completion are reported annually.
Admissions Snapshot
| Acceptance rate | 96.3% |
| SAT Math (25th-75th) | 500-570 |
| SAT Reading (25th-75th) | 465-565 |
| ACT Composite (25th-75th) | 18-24 |
| Enrollment | 1,928 |
| Pell Grant recipients | 20.0% |
| Avg faculty salary (monthly) | $8,430 |
BHSU admits 96.3% of applicants - effectively open-enrollment. ACT 18-24; SAT Math 500-570, Reading 465-565. The ACT floor of 18 includes students who will need developmental support. The 42.6% completion rate is the downstream effect of broad admission at a school with limited academic support infrastructure.
Compared to Similar Schools
Peer institutions matched by type, size, and selectivity.
BHSU's rural western South Dakota setting creates genuine labor market access limitations that drive most of the gaps.
| School | ROI | Net Price | 10yr Earnings |
|---|---|---|---|
| Black Hills State University (this school) | 31 | $15,911 | $46,674 |
| Dakota State University | 43 | $21,057 | $50,970 |
| Northern State University | 41 | $15,812 | $47,618 |
| Sul Ross State University | 31 | $13,286 | $41,871 |
| Missouri Western State University | 29 | $13,251 | $42,647 |
| University of Maryland Eastern Shore | 28 | $13,338 | $47,697 |
Who Thrives Here
BHSU fits students who are South Dakota residents, committed to education or small business careers, and need the most affordable path into a state-affiliated credential. ACT 18-24; SAT Math 500-570, Reading 465-565 - accessible range. 20% Pell recipients, the financial pressure is moderate on a per-student basis. The 42.6% completion rate is the primary risk factor for any student considering BHSU. Students committed to becoming South Dakota teachers face a realistic pathway here; students seeking higher-paying careers will likely need to leave the state.
The Verdict: Below Benchmark Under Our Scoring
Under our methodology, Black Hills State University scores 31/100, which falls in the Below Benchmark tier (below 45). At a net price of $15,911 per year, with typical graduate earnings of $46,674 ten years after entry, we estimate the payback period at about 17.4 years. In our view that makes the financial case a hard one to make on the numbers alone, but those numbers are averages: your major, your aid package and what you want from a degree all change the picture, so run your own numbers before you commit.
What to keep an eye on: weak earnings relative to cost, its 42.6% graduation rate, a debt-to-earnings ratio of 0.83 (median across the schools we score: 0.61), a long payback period.
Median debt of $26,000 among graduates who borrowed, against average earnings of $31,300 six years after entry, gives a debt-to-earnings ratio of 0.83. That is under 1.0 (a full year of those earnings); the median across the schools we score is about 0.61. Your major - and how much you borrow - really matters.
Black Hills State University: Common Questions
Is Black Hills State University worth it?
In our view, the financial case is a hard one to make on the numbers alone. Black Hills State University scores 31/100 on our ROI scale, in the Below Benchmark tier (below 45). At $15,911 a year after aid against $46,674 in typical earnings ten years out, we estimate the payback period at about 17.4 years. Your major and aid package can change the picture, so run your own numbers.
How much does Black Hills State University cost after financial aid?
The average net price - the cost of attendance (tuition, fees, books, supplies and average living costs) minus grants and scholarships, for full-time, first-time students receiving federal aid - is about $15,911 a year, or roughly $63,644 over four years. Because it counts living costs, it can run above tuition alone. That is the number to plan around. Actual cost varies by family income, per the U.S. Department of Education's College Scorecard.
What do Black Hills State University graduates earn?
The typical graduate earns about $46,674 ten years after enrolling, roughly $4,874 a year more than the median high-school graduate ($41,800, per NCES, 2022). That earnings gap is what has to cover the cost of the degree.
How long does it take to pay off Black Hills State University?
We estimate the payback period - the time it takes for the earnings bump over a high-school graduate to cover what you spent - at about 17.4 years for Black Hills State University. The median across the schools we track is about 12 years.
How much debt do Black Hills State University graduates take on?
Among graduates who borrowed, median federal loan debt from this school is about $26,000, against average earnings of $31,300 six years after entry - a debt-to-earnings ratio of 0.83. That is under 1.0 (a full year of those earnings); the median across the schools we score is about 0.61. How much you borrow really matters.
What is the graduation rate at Black Hills State University?
The six-year graduation rate is 42.6%. The national average for four-year schools is 64% (NCES, 2022). Completion is 15% of our ROI score, since a degree you don't finish rarely pays back.
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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.