Converse University
Spartanburg, South Carolina · Private Nonprofit · 67.7% acceptance rate
ROI Score: 21/100 · Poor Value
Converse University, a small private liberal arts university in Spartanburg, South Carolina, scores 21 (Poor Value tier) and the data is unambiguous about why. Sticker tuition of $25,240 is moderate for a private, but the average net price of $23,283 (only a $1,957 discount off list) is unusually thin aid for a private school, putting four-year cost at $93,132. Median earnings six years out are just $26,900, climbing to $40,867 by year ten - well below national private-college medians. Median federal debt of $27,000 against those earnings produces a debt-to-earnings ratio of 1.004, meaning the typical graduate's debt exceeds one year of earnings. The payback period is calculated at 39.7 years - effectively a working-life-long payback. Sub-scores reflect this: 13 on earnings premium, 14 on payback period, and 5 on debt-to-earnings. Completion rate of 61.5% is the only meaningful bright spot, propping the score up. Repayment rate of 66.5% (3-year) is well below national private benchmarks. Converse historically educated women and remains small (1,173 students). The strong campus culture and tight faculty engagement are real, but the financial output for the typical graduate does not support the cost - this is one of the clearest examples in this batch of a school where the educational experience and the ROI math diverge sharply.
The data raises concerns about Converse University
These metrics fall below the thresholds most financial advisors recommend for a sound college investment. Review them carefully before committing.
- ROI Score21/100 - Poor Value tier (below 45). Most 4-year schools we track score 60 or higher.
- Debt-to-earnings1.00 - Advisors recommend total student debt stay below one year of salary (ratio under 1.0).
- Payback period39.7 years - Most 4-year schools we track have payback periods of 4-10 years.
Converse University
Quick Numbers
| In-state tuition + fees | $25,240/yr |
| Out-of-state tuition + fees | $25,240/yr |
| Average net price | $23,283/yr |
| Total 4-year cost (net) | $93,132 |
| Median earnings (10yr post-entry) | $40,867 |
| Median earnings (6yr post-entry) | $26,900 |
| Median debt at graduation | $27,000 |
| Estimated monthly loan payment | $286 |
| Estimated payback period | 39.7 years |
| 6-year graduation rate | 61.5% |
| Undergraduate enrollment | 1,173 |
Data as of 2024-2025. Source: College Scorecard API (U.S. Department of Education).
The Full Financial Picture
The sticker price at Converse University is $25,240/year. But sticker price isn't what most students pay. After grants, scholarships, and financial aid, the average student pays a net price of $23,283/year, or roughly $93,132 over four years.
That net price varies significantly by family income. The lowest-income families (under $30,000/year) pay an average of $14,137/year, while families earning over $110,000 pay $29,105/year.
The median graduate leaves with $27,000 in federal loan debt, translating to an estimated monthly payment of $286 on a standard 10-year repayment plan. Against median earnings of $40,867 ten years out, the debt-to-earnings ratio is 1.00 - above the recommended threshold where total debt should not exceed first-year salary.
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 | $14,137 |
| $30,001 - $48,000 | $18,500 |
| $48,001 - $75,000 | $23,610 |
| $75,001 - $110,000 | $24,754 |
| $110,001+ | $29,105 |
Cost by Income Bracket Explained
Lower-income families (under $30K)
Families earning under $30,000 pay $14,137 net annually, totaling about $56,548 across four years. That's the steepest discount Converse offers. Combined with Pell aid, low-income students face a real but not crushing cost - but the post-graduation earnings ceiling of $26,900 at 6 years means the math is genuinely tight. Low-income families should compare carefully with USC-Upstate or Tri-County Tech.
Middle-income families ($30K-$110K)
Middle-income families ($48,001-$75,000) pay $23,610 per year, about $94,440 across four years - essentially full sticker. The aid drop-off from the $30,001-$48,000 bracket ($18,500) to this band is steep. Middle-income families pay far closer to sticker than they would at most private peers, making this Converse's hardest-to-justify cost tier.
Higher-income families ($110K+)
High-income families ($110,001+) pay $29,105 per year, totaling $116,420 across four years - exceeding the published sticker tuition because room/board and fees are included. For high-earning families, paying near full price for outcomes that produce $40,867 in 10-year earnings is a difficult ROI argument unless the family is prioritizing fit over financial math.
Earnings by Major
Top 3 most popular majors at Converse University with available earnings data.
| Major | Median Earnings | Grade |
|---|---|---|
| Business Administration, Management, and Operations | $55,503 | D |
| Psychology | $44,498 | F |
| Teacher Education | $38,850 | 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.
Business Administration, Management, and Operations
Business is Converse's largest program with 20 graduates and a difficult ROI: $31,449 starting earnings, $55,503 at 4 years, $26,146 in median debt, and a 0.83 debt-to-earnings ratio for a D grade. The 4-year earnings improvement to $55K shows the degree does eventually generate professional outcomes, but the slow ramp plus debt load means payback is meaningfully delayed. Students choosing business at Converse should plan to relocate to higher-wage southeastern metros.
Teacher Education
Teacher Education produces 5 graduates per year with $38,850 starting earnings, $27,000 in median debt, and a 0.70 debt-to-earnings ratio for a C grade. Teaching wages in South Carolina are constrained, and at private-school debt loads the math is tighter than at public peers. The cohort is too small for stable longitudinal data, but the directional read is that mission-aligned students absorb the financial trade for the educational experience.
Psychology
Psychology graduates 10 per year and posts the school's worst ROI grade: $25,879 starting earnings, $44,498 at 4 years, $27,000 in median debt, and a 1.04 debt-to-earnings ratio earning an F. The psychology degree requires graduate study to generate professional earnings; undergraduates entering the labor market directly are stuck in low-wage social services and admin roles. Students should plan on graduate school or pivot.
How Graduates Do
Earnings
Loan Repayment
| Metric | This School | Nat'l Avg |
|---|---|---|
| 1-year repayment | 59.9% | 52.0% |
| 3-year repayment | 66.5% | 62.0% |
| 5-year repayment | 62.4% | 68.0% |
| 7-year repayment | 69.5% | 72.0% |
Completion Rate
Admissions Snapshot
| Acceptance rate | 67.7% |
| SAT Math (25th-75th) | 500-620 |
| SAT Reading (25th-75th) | 510-630 |
| ACT Composite (25th-75th) | 19-26 |
| Enrollment | 1,173 |
| Pell Grant recipients | 39.8% |
| Avg faculty salary (monthly) | $6,564 |
Converse admits 67.7% of applicants. SAT mid-range (Math 500-620, Reading 510-630) and ACT composite of 19-26 indicate a moderately prepared student body. The selectivity is not the issue here - the 61.5% completion rate is decent for the academic profile. The financial outcomes problem is a labor-market and major-mix story, not an admissions story.
Compared to Similar Schools
Peer institutions matched by type, size, and selectivity.
Converse's peer set includes Allen University (HBCU in SC), Anderson University-SC, Mars Hill, Fisher College, and Mary Baldwin University - all small, faith-affiliated or women-historically privates. Anderson University-SC posts noticeably better outcomes thanks to a stronger nursing and business mix. Mary Baldwin and Mars Hill operate similar profiles to Converse with similar earnings constraints. Allen University trails on completion. Within this peer cohort, Converse's outcomes are roughly average but its sticker price runs higher than several peers, which is why the model penalizes it more harshly.
| School | ROI | Net Price | 10yr Earnings |
|---|---|---|---|
| Converse University (this school) | 21 | $23,283 | $40,867 |
| Mary Baldwin University | 25 | $12,756 | $44,427 |
| Wesleyan College | 24 | $12,724 | $44,317 |
| Midway University | 24 | $29,579 | $44,246 |
| Hollins University | 21 | $20,896 | $40,075 |
| Stephens College | 20 | $23,459 | $43,071 |
Who Thrives Here
Converse fits the South Carolina or southeastern student looking for a small (1,173 students) residential liberal arts experience with a strong arts and humanities orientation. Pell rate of 39.8% indicates a meaningfully working-class student body, and the school's history serving women remains part of its identity. The fit case is real for students prioritizing small-class instruction and supportive faculty, but the financial math demands honest discussion: families should expect modest post-graduation earnings and use the school's net-price calculator carefully against in-state public alternatives.
The Verdict: The Numbers Don't Add Up
The financial data raises serious concerns about Converse University. With a net cost of $23,283 per year and median graduate earnings of only $40,867 ten years out, the estimated payback period exceeds 39.7 years. For most students, the financial return does not justify the cost.
Areas of concern include weak earnings relative to cost and high debt relative to what graduates earn and concerning loan repayment rates and a long payback period.
Median debt of $27,000 against $40,867 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.