Colby College
Waterville, Maine · Private Nonprofit · 7.1% acceptance rate
ROI Score: 94/100 · Exceptional Value
Colby College scores 94 (Exceptional Value) on the CampusROI scale, placing it among the top liberal arts colleges in the country on this metric. A 4.6-year payback period, $50,200 median 6-year earnings, and 88.8% completion rate anchor the score. Median debt of $19,157 is low against a sticker tuition of $69,600, reflecting the strength of Colby's aid program. Net price of $17,180 is the headline number, but the income-band figures tell the more important story: families earning under $48,000 pay $4,049 or less per year -- in some brackets, less than $1,300. That is an extraordinary price point for a school at this academic tier. Economics leads by graduate volume and earnings: 94 graduates, $76,401 year-one, $103,491 year-four, B+ ROI grade. International Relations (66 graduates, $54,353 year-one, $96,621 year-four) is the second major by volume and shows strong four-year earnings growth, though a C+ debt-to-earnings grade reflects the lower near-term income relative to debt. Natural Resources Conservation (47 graduates) is the most common program by count and has the weakest returns: $28,216 year-one, $55,719 year-four, C grade. The broad program mix -- from area studies to environmental work -- reflects Colby's liberal arts DNA, and the aggregate outcome of $50,200 median 6-year earnings is solid for a school of this type.
The median graduate earns $80,490 ten years after entry - well above the national median of roughly $55,000 for 4-year college graduates.
Colby College
Quick Numbers
| In-state tuition + fees | $69,600/yr |
| Out-of-state tuition + fees | $69,600/yr |
| Average net price | $17,180/yr |
| Total 4-year cost (net) | $68,720 |
| Median earnings (10yr post-entry) | $80,490 |
| Median earnings (6yr post-entry) | $50,200 |
| Median debt at graduation | $19,157 |
| Estimated monthly loan payment | $203 |
| Estimated payback period | 4.6 years |
| 6-year graduation rate | 88.8% |
| Undergraduate enrollment | 2,407 |
Data as of 2024-2025. Source: College Scorecard API (U.S. Department of Education).
The Full Financial Picture
The sticker price at Colby College is $69,600/year. But sticker price isn't what most students pay. After grants, scholarships, and financial aid, the average student pays a net price of $17,180/year, or roughly $68,720 over four years.
That net price varies significantly by family income. The lowest-income families (under $30,000/year) pay an average of $4,049/year, while families earning over $110,000 pay $46,511/year. The school provides substantial aid to low-income students, making it significantly more affordable than the sticker price suggests.
The median graduate leaves with $19,157 in federal loan debt, translating to an estimated monthly payment of $203 on a standard 10-year repayment plan. Against median earnings of $80,490 ten years out, the debt-to-earnings ratio is 0.38 - well within manageable territory.
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 | $4,049 |
| $30,001 - $48,000 | $1,251 |
| $48,001 - $75,000 | $3,666 |
| $75,001 - $110,000 | $12,106 |
| $110,001+ | $46,511 |
Cost by Income Bracket Explained
Lower-income families (under $30K)
Families earning under $30,000 pay $4,049 per year at Colby -- among the lowest net prices for this academic tier in the country. The 30001-48000 bracket drops further to $1,251 per year, a figure that makes Colby less expensive than many community colleges on a net basis. Four-year cost at those price points is roughly $5,000-$16,000 total. Against $50,200 median 6-year earnings and a 4.6-year payback, the financial case for low-income families with admitted students is exceptionally strong. The completion rate of 88.8% reduces the non-completion risk that undermines ROI at many access-oriented institutions.
Middle-income families ($30K-$110K)
The 48001-75000 bracket pays $3,666 per year, essentially the same as the lowest bracket -- an unusual flattening of the aid schedule at this income tier that makes Colby highly accessible for working-class and middle-income families. The 75001-110000 bracket rises to $12,106 -- still modest against a $69,600 sticker. Middle-income families earning $75,000-$110,000 face roughly $48,000 in total four-year cost, which against $50,200 median 6-year earnings and the B+ repayment rate of 91.7% is a strong value proposition.
Higher-income families ($110K+)
Families earning over $110,000 pay $46,511 per year -- approximately $186,000 over four years. At a 4.6-year payback and $50,200 median 6-year earnings, the full-pay case is financially marginal for students entering lower-earning fields. For economics and international relations graduates moving into finance or consulting, the payback is more compelling. The Colby credential carries genuine optionality value in Northeast professional labor markets that the Scorecard data does not fully capture.
Earnings by Major
Top 8 most popular majors at Colby College with available earnings data.
| Major | Median Earnings | Grade |
|---|---|---|
| Economics | $103,491 | B+ |
| International Relations | $96,621 | C+ |
| Natural Resources Conservation | $55,719 | C |
| International/Globalization Studies | $42,756 | - |
| Psychology | $40,842 | - |
| Biology | $43,597 | - |
| Area Studies | $64,207 | - |
| Romance Languages | $42,326 | B |
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.
Economics
Economics is Colby's largest and highest-earning program: 94 graduates, $76,401 year-one, $103,491 year-four, with median debt of $24,250 and a debt-to-earnings ratio of 0.317 (ROI grade B+). Graduates move into consulting, investment banking, and finance at rates consistent with Colby's placement strength in New York financial markets. The four-year trajectory to $103,491 reflects career progression in professional services and corporate roles. The B+ grade at a $69,600 sticker reflects that aid brings the actual debt exposure well below sticker.
International Relations
International Relations (66 graduates) earns $54,353 at year one and $96,621 at year four -- a strong four-year growth trajectory. Median debt of $27,000 and a debt-to-earnings ratio of 0.497 (ROI grade C+) reflect the mismatch between policy-track near-term earnings and private-sector peers. The year-four figure of $96,621 suggests a meaningful share of graduates enter consulting, international business, or law following graduate school. Students targeting government, NGO, or international development careers should expect lower near-term earnings but strong long-run optionality.
Natural Resources Conservation
Natural Resources Conservation is Colby's highest-volume program at 47 graduates, and it carries the institution's weakest ROI grade: $28,216 year-one, $55,719 year-four, C grade, with a debt-to-earnings ratio of 0.684 and median debt of $19,313. The year-one figure is low but the four-year growth to $55,719 is meaningful. Many graduates likely pursue graduate study in environmental science or policy, which depresses near-term earnings. The Colby aid model helps: at Colby's low net price for income-eligible students, the break-even calculus improves considerably versus what the headline debt figures suggest.
Biology
Biology (31 graduates) earns $43,597 at year one with no four-year figure reported. The year-one number likely undercounts true outcomes for a pre-med/graduate-track cohort, where most graduates are not yet fully employed in career roles. Colby's biology program feeds medical, dental, and graduate science programs. No debt or ROI grade data is available for this program at this institution, limiting direct comparison. Prospective students should weigh the four-year graduate earnings trajectory in health professions rather than the year-one figure.
How Graduates Do
Earnings
Loan Repayment
| Metric | This School | Nat'l Avg |
|---|---|---|
| 1-year repayment | 90.4% | 52.0% |
| 3-year repayment | 91.7% | 62.0% |
| 5-year repayment | 90.9% | 68.0% |
| 7-year repayment | 93.6% | 72.0% |
Completion Rate
Admissions Snapshot
| Acceptance rate | 7.1% |
| SAT Math (25th-75th) | 740-790 |
| SAT Reading (25th-75th) | 720-760 |
| ACT Composite (25th-75th) | 32-34 |
| Enrollment | 2,407 |
| Pell Grant recipients | 14.3% |
| Avg faculty salary (monthly) | $13,207 |
At 7.1% admission rate, Colby is highly selective. The SAT 740-790 Math and 720-760 Reading ranges describe the middle 50% -- a significant share of admitted students exceed those ceilings. ACT 32-34 is the parallel benchmark. Colby has been test-optional in some recent cycles, though scores in the published range signal the academic caliber of the pool. The small size (2,407 students) and residential depth are central to what the institution offers; applicants should demonstrate genuine interest in the liberal arts environment, not just the selectivity tier.
Compared to Similar Schools
Peer institutions matched by type, size, and selectivity.
Colby's Scorecard peer schools include Bates College, Williams College, Wellesley College, Swarthmore College, and College of the Atlantic. Among those comparables, Colby's ROI of 94 is strong. Williams (ROI approximately 93-95) and Swarthmore (ROI approximately 89-91) are close peers on this metric. Colby's 4.6-year payback is faster than many liberal arts comparables and reflects the low median debt ($19,157) relative to earnings. The 88.8% completion rate is strong for a liberal arts school but slightly below Williams (95%) and Swarthmore (93%). The most meaningful differentiator in this peer set is Colby's income-band net pricing, which is among the most aggressive for low-and-moderate income families in the NESCAC tier.
| School | ROI | Net Price | 10yr Earnings |
|---|---|---|---|
| Colby College (this school) | 94 | $17,180 | $80,490 |
| Williams College | 96 | $17,716 | $88,665 |
| Wellesley College | 94 | $25,496 | $84,803 |
| Swarthmore College | 92 | $23,149 | $80,257 |
| Bates College | 82 | $29,351 | $69,498 |
| College of the Atlantic | 25 | $25,184 | $40,264 |
Who Thrives Here
Colby admits 7.1% of applicants, making it one of the more selective liberal arts colleges nationally. SAT mid-ranges are 740-790 Math and 720-760 Reading; ACT 32-34. Enrollment is 2,407, and the small-college experience in rural Maine is a defining feature -- students who thrive here tend to want close faculty relationships and a cohesive residential community. Pell grant rate of 14.3% is lower than the most socioeconomically diverse peers in this tier. Colby's strongest financial case is for low- and moderate-income students, where aid brings net price below $4,000 per year. Students drawn to environmental science, area studies, and international fields cluster here; economics and international relations are the dominant career-track programs.
The Verdict: The Investment Pays Off
Colby College is one of the strongest financial investments in higher education. With a total 4-year net cost of $68,720 and median graduate earnings of $80,490 ten years out, the math works decisively in graduates' favor. The estimated payback period of 4.6 years is well below average.
The data highlights several strengths: strong earnings premium over high school graduates, a 88.8% graduation rate, manageable debt relative to earnings, high loan repayment success.
Median debt of $19,157 is very manageable against $80,490 in annual earnings - well within the financial advisor rule of thumb that total debt should not exceed first-year salary.
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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.