Carroll College
Helena, Montana · Private Nonprofit · 70.9% acceptance rate
ROI Score: 66/100 · Fair Value
Carroll College in Helena, Montana scores ROI 66 (Fair Value) -- a small Catholic liberal arts school with 1,092 undergraduates and a strong nursing pipeline. Median 6-year earnings reach $40,900, climbing to $61,772 at 10 years. The 8.8-year payback is middle-range for private schools; the debt-to-earnings ratio of 0.630 reflects real but manageable borrowing pressure. Completion at 69.3% is in line with comparable small privates. Registered Nursing with 60 graduates is the school's dominant high-ROI program and the clearest reason to consider Carroll. Business Administration is the next-largest program. A repayment rate of 87.4% is a genuine standout -- one of the better signals in the dataset, suggesting graduates are not defaulting even in modest-earning fields. Carroll's Helena location creates a distinctive student profile: outdoor-oriented, mission-focused, and operating in a state where healthcare labor demand consistently outstrips supply.
Carroll College
Quick Numbers
| In-state tuition + fees | $41,484/yr |
| Out-of-state tuition + fees | $41,484/yr |
| Average net price | $23,960/yr |
| Total 4-year cost (net) | $95,840 |
| Median earnings (10yr post-entry) | $61,772 |
| Median earnings (6yr post-entry) | $40,900 |
| Median debt at graduation | $25,757 |
| Estimated monthly loan payment | $273 |
| Estimated payback period | 8.8 years |
| 6-year graduation rate | 69.3% |
| Undergraduate enrollment | 1,092 |
Data as of 2024-2025. Source: College Scorecard API (U.S. Department of Education).
The Full Financial Picture
The sticker price at Carroll College is $41,484/year. But sticker price isn't what most students pay. After grants, scholarships, and financial aid, the average student pays a net price of $23,960/year, or roughly $95,840 over four years.
That net price varies significantly by family income. The lowest-income families (under $30,000/year) pay an average of $17,072/year, while families earning over $110,000 pay $28,005/year.
The median graduate leaves with $25,757 in federal loan debt, translating to an estimated monthly payment of $273 on a standard 10-year repayment plan. Against median earnings of $61,772 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 | $17,072 |
| $30,001 - $48,000 | $16,329 |
| $48,001 - $75,000 | $19,139 |
| $75,001 - $110,000 | $23,919 |
| $110,001+ | $28,005 |
Cost by Income Bracket Explained
Lower-income families (under $30K)
Families under $30,000 pay $17,072 per year -- below the $23,960 average, suggesting Carroll does stack aid for lowest-income students. Over four years that is roughly $68,288, which is still demanding on limited income but workable for nursing students whose 1-year earnings ($75,007) can cover loan obligations. Low-income students in biology or health sciences general are at higher risk: the earnings data for those programs is weaker.
Middle-income families ($30K-$110K)
The 30,001-48,000 bracket pays $16,329 -- slightly below the lowest bracket, which is unusual. The 48,001-75,000 bracket jumps to $19,139, and the 75,001-110,000 bracket climbs to $23,919. The slope steepens through the upper middle range. Families in the $75-110k band pay about $7,500 more per year than families in the $48-75k band -- a meaningful jump for families who thought they'd qualify for more aid.
Higher-income families ($110K+)
Families earning $110,000+ pay $28,005 per year -- below the $23,960 average net price, which reflects Carroll's overall modest discount. Over four years that is roughly $112,020. Against 10-year median earnings of $61,772, high-income families in nursing see a workable lifetime ROI; those in rehabilitation or health sciences general (earnings weaker) face a longer payback horizon at these prices.
Earnings by Major
Top 9 most popular majors at Carroll College with available earnings data.
| Major | Median Earnings | Grade |
|---|---|---|
| Registered Nursing | $80,878 | B |
| Health Services/Allied Health/Health Sciences, General | $62,284 | D |
| Business Administration, Management, and Operations | $60,597 | B |
| Biology | $32,530 | D |
| Rehabilitation and Therapeutic Professions | $49,309 | F |
| Psychology | $49,321 | - |
| Public Health | $30,831 | D |
| Accounting | $79,048 | B+ |
| Teacher Education | $52,448 | 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.
Registered Nursing
Nursing is Carroll's clearest ROI program with 60 graduates per year. Median 1-year earnings of $75,007 and 4-year earnings of $80,878 reflect Helena's regional hospital market and the broader Montana nursing shortage, which consistently drives wages above national rural averages. The debt-to-earnings ratio of 0.360 (ROI grade B) with $27,000 median debt is within normal range. Montana's nurse-to-population ratio creates consistent demand -- Carroll nursing graduates face lower competition for positions than urban nursing graduates, and the state's hospital systems actively recruit from Carroll's pipeline.
Business Administration, Management, and Operations
Business Administration produces 27 graduates per year and is Carroll's primary non-health career pathway. Median 1-year earnings of $48,337 and 4-year earnings of $60,597 track mid-level management roles in Helena, Missoula, and Billings -- Montana's three main employment centers. The debt-to-earnings ratio of 0.403 (ROI grade B) is healthier than expected for a small-market business degree. Montana's business environment -- dominated by small-to-midsize companies, state government, and natural resources -- rewards generalist business skills more than specialists, which suits Carroll's program structure.
Accounting
Accounting produces 10 graduates per year -- a small cohort, but the 4-year median earnings of $79,048 (1-year data not reported) signal a CPA-track trajectory into Montana's public accounting and state finance sectors. The debt-to-earnings ratio of 0.304 (ROI grade B+) with $24,050 median debt is among the best efficiency ratios at Carroll. Small accounting cohorts at smaller schools often mean personalized mentorship and close employer relationships -- Carroll's Helena location, near state agency headquarters, provides a specific placement context for public-sector accounting.
How Graduates Do
Earnings
Loan Repayment
| Metric | This School | Nat'l Avg |
|---|---|---|
| 1-year repayment | 85.1% | 52.0% |
| 3-year repayment | 87.4% | 62.0% |
| 5-year repayment | 85.5% | 68.0% |
| 7-year repayment | 89.3% | 72.0% |
Completion Rate
Admissions Snapshot
| Acceptance rate | 70.9% |
| SAT Math (25th-75th) | 510-640 |
| SAT Reading (25th-75th) | 540-660 |
| ACT Composite (25th-75th) | 21-27 |
| Enrollment | 1,092 |
| Pell Grant recipients | 20.2% |
| Avg faculty salary (monthly) | $7,620 |
Carroll admits 70.9% of applicants -- moderately selective. ACT 21-27; SAT Math 510-640, Reading 540-660. This profile suggests a school that is accessible but not open-enrollment. The upper range of the ACT band (27) aligns with nursing and pre-professional students who have strong academic preparation.
Compared to Similar Schools
Peer institutions matched by type, size, and selectivity.
Carroll College (ROI 66) outperforms its most comparable peers on repayment rate (87.4% vs sub-75% for most comparable schools), suggesting its graduates handle debt effectively despite modest starting salaries. Rocky Mountain College and University of Providence were not available for comparison. Walla Walla University and Adventhealth University (religious small privates) sit in Carroll's tier but with different program mixes. Carroll's nursing pipeline is its clearest differentiator: a 60-graduate nursing class in a state with persistent healthcare shortages is a structural advantage that generic program peers cannot match.
| School | ROI | Net Price | 10yr Earnings |
|---|---|---|---|
| Carroll College (this school) | 66 | $23,960 | $61,772 |
| Westmont College | 65 | $29,053 | $64,778 |
| AdventHealth University | 63 | $30,135 | $72,282 |
| Walla Walla University | 62 | $23,329 | $61,885 |
| University of Providence | 35 | $17,649 | $48,296 |
| Rocky Mountain College | 35 | $19,751 | $49,036 |
Who Thrives Here
Carroll fits students with ACT 21-27 or SAT 510-660 who want a small, faith-influenced liberal arts environment with real nursing or business outcomes. The 69.3% completion rate is acceptable. With only 20.2% Pell recipients, this is a school that predominantly serves middle-to-upper-income Montana and regional families. Students drawn to the Montana lifestyle and who want a tight-knit community over a large university experience find a genuine match here -- if they enter nursing, business, or a pre-professional science track.
The Verdict: A Reasonable Bet - With Caveats
Carroll College offers fair financial value, though the ROI depends heavily on individual circumstances. The net cost of $23,960 per year leads to $95,840 over four years, while graduates earn a median of $61,772 a decade out. The payback period of 8.8 years is about average - not bad, but not a standout either.
Key strengths include a 69.3% graduation rate, high loan repayment success. However, the data also shows high debt relative to what graduates earn.
Median debt of $25,757 against $61,772 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.