Carthage College
Kenosha, Wisconsin · Private Nonprofit · 87.1% acceptance rate
ROI Score: 51/100 · Below Average Value
Data: 2024-25 College Scorecard release
Carthage College scores 51 (Below Average Value) on the CampusROI scale - a liberal arts institution on Lake Michigan in Kenosha, WI with 2,660 enrolled undergraduates and a $38,750 sticker tuition discounted to a $26,565 net price. The score reflects an 11.2-year payback period, a 0.668 debt-to-earnings ratio, a 64.3% completion rate, and a repayment rate of 80.8% Average 6-year earnings of $38,900 are modest relative to the $26,565 net price. The program spread is wide: Finance (39 grads, $58,543 year-one, grade B) and Accounting (18 grads, $61,887 year-one, grade B) lead the portfolio, both with four-year trajectories near $87,000. Nursing (55 grads, $74,265 year-one, grade B) is strong. Music (28 grads, $24,273 year-one, grade F) and Natural Resources Conservation (14 grads, $25,553 year-one, grade F) earn the institution's worst grades. Computer and Information Sciences (20 grads, $106,611 year-four) is notable but lacks year-one data. The Scorecard does not report SAT score ranges for Carthage; ACT composite 20-25.
Carthage College
Quick Numbers
| In-state tuition + fees | $38,750/yr |
| Out-of-state tuition + fees | $38,750/yr |
| Average net price | $26,565/yr |
| Total 4-year cost (net) | $106,260 |
| Median earnings (10yr post-entry) | $56,950 |
| Average earnings (6yr post-entry) | $38,900 |
| Median debt at graduation | $26,000 |
| Estimated monthly loan payment | $276 |
| Estimated payback period | 11.2 years |
| 6-year graduation rate | 64.3% |
| Undergraduate enrollment | 2,660 |
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: $38,750/year, which covers tuition and fees only. After grants, scholarships, and aid, the average student here pays a net price of $26,565/year, or roughly $106,260 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 $23,293/year here, while families earning over $110,000 pay $29,176/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 ($38,900) and comes to 0.67, 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 | $23,293 |
| $30,001 - $48,000 | $23,630 |
| $48,001 - $75,000 | $22,427 |
| $75,001 - $110,000 | $24,995 |
| $110,001+ | $29,176 |
Cost by Income Bracket Explained
Lower-income families (under $30K)
The 0-30000 income bracket pays $23,293 per year at Carthage. The 30001-48000 bracket pays $23,630, nearly the same. For low-income students, the 64.3% completion rate is the central risk - not completing while borrowing at $23,000 per year produces debt without credentials. The 80.8% repayment rate at 7 years is encouraging, suggesting that graduates who finish are managing their debt.
Middle-income families ($30K-$110K)
The 48001-75000 bracket pays $22,427 at Carthage - the lowest point in the entire net price schedule, meaning middle-income families with demonstrated need receive the best price. The 75001-110000 bracket rises to $24,995. At $22,000-$25,000 per year net, nursing and finance remain defensible; music, natural resources, and psychology are not. Middle-income families should focus closely on the specific program their student intends to enter.
Higher-income families ($110K+)
Families above $110,000 pay $29,176 per year at Carthage, totaling roughly $117,000 over four years. Nursing ($74,265 year-one) and Finance ($58,543 year-one) are the exceptions.
Earnings by Major
Top 10 most popular majors at Carthage College with available earnings data.
| Major | Median Earnings | Grade |
|---|---|---|
| Marketing | $69,045 | C+ |
| Business Administration, Management, and Operations | $72,468 | C+ |
| Registered Nursing | $74,265 | B |
| Finance and Financial Management | $86,952 | B |
| Biology | $55,576 | C |
| Neurobiology and Neurosciences | $65,733 | D |
| Psychology | $54,636 | D |
| Music | $24,273 | F |
| Teacher Education | $48,349 | C |
| Kinesiology and Exercise Science | $54,832 | D |
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 Carthage's strongest documented program: 55 graduates, $74,265 year-one, debt-to-earnings 0.360 (grade B) on $26,758 median debt. Year-four data is not available for Carthage nursing, but year-one earnings of $74,265 in the Kenosha-Chicago metro market are competitive. At a $26,565 net price, nursing graduates face a roughly 4-year payback on median debt. The graduate count is 55. As with most private college nursing programs, prospective students should verify clinical placement availability and NCLEX pass rates.
Finance and Financial Management
Finance produces 39 graduates with $58,543 year-one earnings and $86,952 at year four, with a debt-to-earnings ratio of 0.444 (grade B) on $26,000 median debt. The year-four trajectory to $86,952 is the strongest earnings progression of any Carthage program - nearly a 50% increase from year-one. Carthage's proximity to Chicago provides access to Midwest financial sector employers, which likely drives these outcomes. For students targeting finance careers in the Chicago market, Carthage's cost and program performance represent a defensible combination.
Music
Music earns an F grade: 28 graduates, $24,273 year-one, debt-to-earnings 1.112 on $27,000 median debt. A debt-to-earnings ratio above 1.0 means graduates owe more in debt than they earn in a full year, before taxes. At $24,273 year-one, Carthage music graduates face a financially precarious early career. Carthage has a respected conservatory tradition, and the decision to study music there is primarily a vocational and artistic one. The ROI data is clear that it is not a financial investment.
How Graduates Do
Earnings
Loan Repayment
| Metric | This School | Median of schools we score |
|---|---|---|
| 1-year repayment | 75.9% | 68.8% |
| 3-year repayment | 80.8% | 73.6% |
| 5-year repayment | 79.3% | 67.7% |
| 7-year repayment | 80.0% | 72.8% |
Completion Rate
Trends Over Time
How Carthage College’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 | 87.1% |
| ACT Composite (25th-75th) | 20-25 |
| Enrollment | 2,660 |
| Pell Grant recipients | 27.1% |
| Avg faculty salary (monthly) | $8,981 |
Carthage's 87.1% admission rate makes it broadly accessible. The ACT composite mid-range is 20-25. The Scorecard does not report SAT ranges for this institution. Prospective students should use the net price calculator early - at $26,565 average net price, actual costs vary significantly by income level and merit scholarship offers. Students targeting arts programs (music, drama, visual arts) should review the program-level earnings data carefully before committing, as these programs carry the institution's worst ROI grades.
Compared to Similar Schools
Peer institutions matched by type, size, and selectivity.
Carthage's ROI is 51.
| School | ROI | Net Price | 10yr Earnings |
|---|---|---|---|
| Carthage College (this school) | 51 | $26,565 | $56,950 |
| Bellin College | 72 | $37,408 | $76,222 |
| Trine University | 52 | $25,355 | $57,165 |
| Dallas Baptist University | 51 | $28,516 | $56,807 |
| Campbell University | 49 | $24,516 | $54,886 |
| Alverno College | 39 | $22,540 | $53,145 |
Who Thrives Here
Carthage admits 87.1% of applicants. The Scorecard does not report SAT score ranges; ACT composite mid-range is 20-25. With 2,660 enrolled undergraduates and a 27.1% Pell grant rate, Carthage serves a moderately middle-income student body, drawing heavily from the Chicago metro area given its Kenosha location. The liberal arts identity means significant program diversity from music conservatory to nursing and finance. The completion rate is 64.3%. Students who fit Carthage's campus culture and are targeting finance, nursing, or accounting programs will find the value case more defensible than the institutional average implies.
The Verdict: Proceed With Caution
The money case for Carthage College is mixed, and worth a hard look before you commit. At $26,565 per year after aid, the typical graduate earns $56,950 ten years after entry, which means it takes about 11.2 years to earn the cost back. For context, the median payback across the schools we score is about 12 years. Whether it's worth it comes down to your major and your aid package.
What to keep an eye on: weak earnings relative to cost, a debt-to-earnings ratio of 0.67 (median across the schools we score: 0.61).
Median debt of $26,000 among graduates who borrowed, against average earnings of $38,900 six years after entry, gives a debt-to-earnings ratio of 0.67. 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.
Carthage College: Common Questions
Is Carthage College worth it?
In our view, the money case is mixed and worth a hard look before you commit. Carthage College scores 51/100 on our ROI scale. At $26,565 a year after aid the typical graduate earns $56,950 ten years after entry, so it takes about 11.2 years to earn the cost back. For context, the median payback across the schools we score is about 12 years.
How much does Carthage College 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 $26,565 a year, or roughly $106,260 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 Carthage College graduates earn?
The typical graduate earns about $56,950 ten years after enrolling, roughly $15,150 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 Carthage College?
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 11.2 years for Carthage College. The median across the schools we track is about 12 years.
How much debt do Carthage College graduates take on?
Among graduates who borrowed, median federal loan debt from this school is about $26,000, against average earnings of $38,900 six years after entry - a debt-to-earnings ratio of 0.67. 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 Carthage College?
The six-year graduation rate is 64.3%, at or above the 64% national average for four-year schools (NCES, 2022). Completion is 15% of our ROI score, since a degree you don't finish rarely pays back.
NewsletterCollege decisions are better with data.
From CampusROI, when there is something worth acting on.
Rankings & Links
Guides & Tools
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.