Central College
Pella, Iowa · Private Nonprofit · 86.2% acceptance rate
ROI Score: 49/100 · Below Average Value
Central College earns a 49 ROI score in Below Average Value tier, anchored by strong completion (66.2%, scoring 71/100) and repayment (83.5%, scoring 81/100) figures that reflect a stable, residential Iowa liberal-arts student body. Tuition is $20,988 — a recent move toward the resetting-sticker-price model — but net price after aid is actually $23,377, modestly above sticker because room, board, and fees push past tuition alone. Four-year total cost runs $93,508. Median earnings ten years out are $54,317 with a 12.1-year payback period. The weak spot is debt-to-earnings at 0.723, scoring 24/100; median debt of $26,984 against entry-level earnings around $37,300 produces a tight first-decade financial picture. Students mostly graduate and mostly pay their loans — the question is whether the earnings premium justifies the price. For accounting and business majors, the math works; for biology and humanities students at full pay, it's a stretch.
Central College
Quick Numbers
| In-state tuition + fees | $20,988/yr |
| Out-of-state tuition + fees | $20,988/yr |
| Average net price | $23,377/yr |
| Total 4-year cost (net) | $93,508 |
| Median earnings (10yr post-entry) | $54,317 |
| Median earnings (6yr post-entry) | $37,300 |
| Median debt at graduation | $26,984 |
| Estimated monthly loan payment | $286 |
| Estimated payback period | 12.1 years |
| 6-year graduation rate | 66.2% |
| Undergraduate enrollment | 1,070 |
Data as of 2024-2025. Source: College Scorecard API (U.S. Department of Education).
The Full Financial Picture
The sticker price at Central College is $20,988/year. But sticker price isn't what most students pay. After grants, scholarships, and financial aid, the average student pays a net price of $23,377/year, or roughly $93,508 over four years.
That net price varies significantly by family income. The lowest-income families (under $30,000/year) pay an average of $16,231/year, while families earning over $110,000 pay $27,165/year.
The median graduate leaves with $26,984 in federal loan debt, translating to an estimated monthly payment of $286 on a standard 10-year repayment plan. Against median earnings of $54,317 ten years out, the debt-to-earnings ratio is 0.72 - 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 | $16,231 |
| $30,001 - $48,000 | $16,237 |
| $48,001 - $75,000 | $19,532 |
| $75,001 - $110,000 | $21,936 |
| $110,001+ | $27,165 |
Cost by Income Bracket Explained
Lower-income families (under $30K)
Families under $30,000 pay $16,231 and the $30,001-$48,000 bracket pays a nearly identical $16,237 — flat across the lowest two brackets, reflecting a Pell-and-Iowa-state-aid floor. Four-year totals around $65,000 against $54,317 median earnings is workable for low-income students choosing strong major tracks (accounting, business, teacher ed).
Middle-income families ($30K-$110K)
The $48,001-$75,000 bracket pays $19,532, climbing to $21,936 for $75,001-$110,000. The aid scaling is reasonably gradual. Middle-income Iowa families face the most competitive trade-off here: Central's net price is close enough to Iowa public universities that the smaller-college experience may justify the gap, particularly for students who would struggle to find community on a 30,000-student campus.
Higher-income families ($110K+)
Families above $110,000 pay $27,165 — meaningfully above the $20,988 sticker tuition once room and board factor in, indicating limited aid at the top of the income distribution. At four-year totals around $109,000 against $54,317 earnings, the math is rough for high-income humanities students. Central makes sense at this income tier only for business and STEM majors.
Earnings by Major
Top 10 most popular majors at Central College with available earnings data.
| Major | Median Earnings | Grade |
|---|---|---|
| Business Administration, Management, and Operations | $68,021 | C+ |
| Biology | $59,597 | F |
| Teacher Education | $50,707 | C |
| Accounting | $86,868 | C+ |
| Sociology | $51,996 | C |
| Romance Languages | $30,211 | D |
| Psychology | $56,941 | D |
| Communication and Media Studies | $51,671 | - |
| Computer Science | $89,838 | - |
| Kinesiology and Exercise Science | $51,814 | 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.
Business Administration, Management, and Operations
Business is by far the largest program at 42 graduates with first-year earnings of $55,760 climbing to $68,021, against $27,000 in debt — a C+ grade and 0.484 ratio. Strong utility outcome for a small-college business program. Central feeds into Des Moines insurance and banking employers, and the four-year trajectory indicates real career growth.
Biology
Biology produced 31 graduates with first-year earnings of just $26,933 against $27,000 in debt — an F grade and 1.002 ratio. The four-year figure rises to $59,597, suggesting many graduates continue to PA, PT, DPT, or medical school. The standalone bachelor's math is brutal; graduate-school continuation is essentially required for a positive outcome.
Teacher Education
Teacher Ed graduated 18 with first-year earnings of $44,000 against $27,000 in debt — a C grade and 0.614 ratio. Iowa teacher salaries are below national medians, so this is a steady but capped income trajectory. PSLF should be the default plan for public-school teachers, which makes the debt load manageable over 10 years of qualifying service.
Accounting
Accounting produced 16 with first-year earnings of $58,850 climbing to $86,868 — Central's strongest earnings trajectory — against $27,000 in debt, for a C+ grade and 0.459 ratio. Iowa CPA pathway placements (often into Big Four offices in Des Moines or Cedar Rapids) make this Central's most defensible high-ROI program.
Sociology
Sociology graduated 14 with first-year earnings of $38,034 against $25,000 in debt — a C grade and 0.657 ratio. The four-year figure rises modestly to $51,996. Sociology graduates here likely enter human-services, nonprofit, and case-management roles with modest pay. A defensible major only if combined with a clear career-direction plan.
How Graduates Do
Earnings
Loan Repayment
| Metric | This School | Nat'l Avg |
|---|---|---|
| 1-year repayment | 81.1% | 52.0% |
| 3-year repayment | 83.5% | 62.0% |
| 5-year repayment | 83.2% | 68.0% |
| 7-year repayment | 85.8% | 72.0% |
Completion Rate
Admissions Snapshot
| Acceptance rate | 86.2% |
| SAT Math (25th-75th) | 528-560 |
| SAT Reading (25th-75th) | 528-560 |
| ACT Composite (25th-75th) | 20-26 |
| Enrollment | 1,070 |
| Pell Grant recipients | 22.3% |
| Avg faculty salary (monthly) | $7,780 |
Central admits 86.2% of applicants, with tight SAT mid-ranges of 528-560 in both math and reading, and ACT 20-26. The very narrow SAT bands (just 32 points each) suggest a homogeneous academic profile — students who apply tend to be reasonably prepared, even with broad admissions. This explains the 66.2% completion rate, which is strong for a college with 86% admit rate. The selectivity here is more about self-selection than gatekeeping; students who don't fit Pella tend not to apply.
Compared to Similar Schools
Peer institutions matched by type, size, and selectivity.
Central's peer cohort is Briar Cliff University, Buena Vista University, Hanover College, Transylvania University, and Bay Path University. Transylvania and Hanover are the strongest peers — small private liberal-arts colleges with stronger ROI profiles. Buena Vista and Briar Cliff are closer matches to Central's outcomes profile. Central's 49 ROI is mid-pack in this set; Transylvania notably outperforms, while Briar Cliff sits below. Central's completion and repayment rates are competitive with all of them.
| School | ROI | Net Price | 10yr Earnings |
|---|---|---|---|
| Central College (this school) | 49 | $23,377 | $54,317 |
| Biola University | 50 | $31,495 | $56,778 |
| Olivet Nazarene University | 50 | $20,729 | $53,213 |
| Taylor University | 50 | $24,865 | $52,198 |
| Campbell University | 49 | $24,516 | $54,886 |
| Maranatha Baptist University | 47 | $26,005 | $45,593 |
Who Thrives Here
With 1,070 students and a 22.3% Pell rate, Central serves a primarily middle-class Iowa student body with Reformed Church in America roots. Strong fit: Iowa students who want a residential liberal-arts experience with study-abroad emphasis (Central's program is well-regarded) and a clear major track in business, accounting, or teacher ed. The 22% Pell rate is on the lower end for a private with Central's price point, suggesting the school competes for middle-class students who could choose Iowa State or the University of Iowa instead.
The Verdict: Proceed With Caution
The financial case for Central College is mixed. At $23,377 per year net cost, graduates earn a median of $54,317 ten years after entry - a payback period of 12.1 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.
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.
Median debt of $26,984 against $54,317 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.