Carlow University
Pittsburgh, Pennsylvania · Private Nonprofit · 87.0% acceptance rate
ROI Score: 45/100 · Below Average Value
Carlow University scores 45 (Below Average Value) on the CampusROI scale, driven by a 13.9-year payback period, $40,400 median 6-year earnings, and a 59.9% completion rate. Median debt of $25,500 against those earnings produces a debt-to-earnings ratio of 0.631 -- a burden that leaves many graduates financially stretched. The net price of $20,786 is the central cost figure, but the payback math makes it hard to justify for most majors at full debt load. Registered Nursing is the institution's clear ROI anchor: 92 graduates, $70,269 year-one, $86,258 year-four, with a B-grade debt-to-earnings ratio of 0.406. Nursing alone accounts for a disproportionate share of the income the Scorecard captures for this institution. Outside of nursing, outcomes thin quickly. Accounting (15 graduates, $76,099 at year four, B+ grade) is the next bright spot, but volume is low. Biology shows a dramatic gap between year-one earnings ($36,211) and year-four ($134,677), the latter likely reflecting pre-med pipelines to graduate or professional school that inflate the Scorecard figure without appearing in the near-term data. The 59.9% completion rate is the most important risk flag: roughly four in ten students who enroll at Carlow do not finish within normal time, which means the advertised outcomes apply only to the portion who complete.
Carlow University
Quick Numbers
| In-state tuition + fees | $35,874/yr |
| Out-of-state tuition + fees | $35,874/yr |
| Average net price | $20,786/yr |
| Total 4-year cost (net) | $83,144 |
| Median earnings (10yr post-entry) | $51,051 |
| Median earnings (6yr post-entry) | $40,400 |
| Median debt at graduation | $25,500 |
| Estimated monthly loan payment | $270 |
| Estimated payback period | 13.9 years |
| 6-year graduation rate | 59.9% |
| Undergraduate enrollment | 1,348 |
Data as of 2024-2025. Source: College Scorecard API (U.S. Department of Education).
The Full Financial Picture
The sticker price at Carlow University is $35,874/year. But sticker price isn't what most students pay. After grants, scholarships, and financial aid, the average student pays a net price of $20,786/year, or roughly $83,144 over four years.
That net price varies significantly by family income. The lowest-income families (under $30,000/year) pay an average of $17,901/year, while families earning over $110,000 pay $25,214/year.
The median graduate leaves with $25,500 in federal loan debt, translating to an estimated monthly payment of $270 on a standard 10-year repayment plan. Against median earnings of $51,051 ten years out, the debt-to-earnings ratio is 0.63 - 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 | $17,901 |
| $30,001 - $48,000 | $15,748 |
| $48,001 - $75,000 | $19,517 |
| $75,001 - $110,000 | $21,601 |
| $110,001+ | $25,214 |
Cost by Income Bracket Explained
Lower-income families (under $30K)
Families earning under $30,000 pay $17,901 net price per year at Carlow -- $71,604 over four years. With median earnings at $40,400 and a 13.9-year payback period, the arithmetic is tight even at this income level. Pell grants and institutional aid bring the price down meaningfully from the $35,874 sticker, but the completion rate risk (40% non-completion) means a significant share of low-income enrollees will carry debt without a degree. The nursing program is the clearest path to a positive outcome for this income group.
Middle-income families ($30K-$110K)
The 48001-75000 bracket pays $19,517 per year -- slightly above the lowest bracket, reflecting a smaller aid increment in this range. The 75001-110000 bracket pays $21,601, showing a gradual step up. Middle-income families considering Carlow outside of nursing or accounting face a meaningful affordability question: $78,000-$86,000 in four-year net cost against $40,400 median earnings and a 13.9-year payback is a challenging ratio. Major selection drives whether Carlow is a reasonable investment at this income tier.
Higher-income families ($110K+)
Families earning over $110,000 pay $25,214 per year at Carlow -- roughly $100,856 over four years. At that cost, with $40,400 median 6-year earnings and a 13.9-year payback, the financial case for Carlow at near-full pay is weak for most programs. High-income families with students targeting nursing or accounting may find it acceptable given the program-level outcomes, but the overall institutional ROI score of 45 makes the cost-to-outcome ratio one of the weaker in this region.
Earnings by Major
Top 8 most popular majors at Carlow University with available earnings data.
| Major | Median Earnings | Grade |
|---|---|---|
| Registered Nursing | $86,258 | B |
| Teacher Education | $42,498 | D |
| Biology | $134,677 | D |
| Psychology | $44,786 | D |
| Accounting | $76,099 | B+ |
| Business Administration, Management, and Operations | $65,696 | C |
| Allied Health Diagnostic and Treatment | $56,834 | C |
| Social Work | $47,486 | - |
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
Registered Nursing is the ROI core of Carlow, delivering $70,269 median year-one earnings and $86,258 at year four across 92 graduates -- the largest program by volume. Median debt of $28,500 produces a debt-to-earnings ratio of 0.406 (ROI grade B), which is reasonable given the earnings trajectory. Pittsburgh's healthcare sector provides strong local demand. Students who complete the nursing program exit with a license, strong regional employment options, and manageable debt service. The nursing pipeline is the primary financial argument for attending Carlow.
Accounting
Accounting (15 graduates) reaches $76,099 at year four with median debt of $26,500 and a debt-to-earnings ratio of 0.348 (ROI grade B+). Volume is small but the trajectory is defensible. Graduates likely enter regional public accounting firms and corporate finance roles in the Pittsburgh market. The B+ grade is the second-best program-level result at Carlow and makes accounting a financially viable path for students who complete the degree.
Business Administration, Management, and Operations
Business Administration (15 graduates) earns $48,121 at year one and $65,696 at year four, with median debt of $27,351 and a debt-to-earnings ratio of 0.568 (ROI grade C). The earnings are adequate but the debt load against those outcomes is tight. At a $50,029 sticker tuition and $20,786 net price, students borrowing near the median will face roughly 8-9 years to break even depending on major. Business is a workable path if debt is minimized.
Psychology
Psychology (17 graduates) earns $35,024 year-one and $44,786 year-four, with median debt of $29,552 and a debt-to-earnings ratio of 0.844 (ROI grade D). Nearly 85 cents of median debt for every dollar of annual earnings is a strained ratio -- graduates will spend years in elevated debt-service relative to income. Psychology at Carlow is better suited to students pursuing graduate school in clinical or counseling fields, where near-term earnings are not the primary measure. Students not planning graduate school should carefully weigh this path.
How Graduates Do
Earnings
Loan Repayment
| Metric | This School | Nat'l Avg |
|---|---|---|
| 1-year repayment | 69.5% | 52.0% |
| 3-year repayment | 73.7% | 62.0% |
| 5-year repayment | 64.2% | 68.0% |
| 7-year repayment | 68.7% | 72.0% |
Completion Rate
Admissions Snapshot
| Acceptance rate | 87.0% |
| SAT Math (25th-75th) | 460-570 |
| SAT Reading (25th-75th) | 500-598 |
| Enrollment | 1,348 |
| Pell Grant recipients | 43.0% |
| Avg faculty salary (monthly) | $7,520 |
At 87% admission rate, Carlow admits the overwhelming majority of applicants. No ACT data is reported. SAT ranges (460-570 Math, 500-598 Reading) suggest a broad-access profile. Admission is not a bottleneck here -- the relevant question is program fit and completion likelihood, given that 40% of students do not finish. Prospective students should evaluate the nursing program's selective clinical placement process separately from general admissions.
Compared to Similar Schools
Peer institutions matched by type, size, and selectivity.
Carlow's Scorecard peer schools include Albright College, Concordia University Nebraska, Lakeland University, Oglethorpe University, and Bryn Athyn College. Within that peer group, Carlow's 59.9% completion rate and 13.9-year payback period sit at the lower end. Albright College (ROI 47) has a comparable overall score. Carlow's nursing concentration is a differentiator versus more generalist peers. The $40,400 median 6-year earnings is below the national median for four-year graduates, and the $25,500 median debt load amplifies that gap. Carlow's Pell rate of 43% is notably higher than most peers, reflecting its access mission and the financial profile of its student population.
| School | ROI | Net Price | 10yr Earnings |
|---|---|---|---|
| Carlow University (this school) | 45 | $20,786 | $51,051 |
| Albright College | 56 | $20,024 | $58,700 |
| Oglethorpe University | 48 | $19,509 | $55,232 |
| Concordia University-Nebraska | 45 | $23,965 | $52,415 |
| Lakeland University | 44 | $24,212 | $55,961 |
| Bryn Athyn College of the New Church | 34 | $20,586 | $40,457 |
Who Thrives Here
Carlow is a small Pittsburgh private with 1,348 students and an 87% admission rate, making it an accessible option for students who did not gain admission to more selective institutions. SAT mid-ranges (460-570 Math, 500-598 Reading) reflect a broad academic range. Pell grant rate of 43% indicates that low- and moderate-income students make up a significant share of the student body. The institution's Catholic heritage and mission-driven culture appeal to students interested in health professions, social work, and education. Students targeting the Registered Nursing program have the clearest path to a positive financial outcome. Students considering liberal arts or behavioral science majors should carefully model the debt-to-earnings trajectory before enrolling.
The Verdict: Proceed With Caution
The financial case for Carlow University is mixed. At $20,786 per year net cost, graduates earn a median of $51,051 ten years after entry - a payback period of 13.9 years. That's below the average return for four-year institutions, and prospective students should carefully consider whether the investment aligns with their financial goals.
Areas of concern include weak earnings relative to cost and high debt relative to what graduates earn and a long payback period.
Median debt of $25,500 against $51,051 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.