Converse University
Spartanburg, South Carolina · Private Nonprofit · 67.7% acceptance rate
ROI Score: 21/100 · Below Benchmark
Data: 2024-25 College Scorecard release
Converse University, a small private liberal arts university in Spartanburg, South Carolina, scores 21 (Below Benchmark tier) and the data is unambiguous about why. 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. 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.
How Converse University scores under our methodology
These are the College Scorecard measures that pull this school's CampusROI score down. They describe the published figures, not the quality of the education, and they are our reading of the data. Check them against your own aid offer and intended major.
- ROI Score21/100 - Below Benchmark tier of our scale (below 45). For context, 38% of the schools we score reach 60 or higher.
- Debt-to-earnings1.00 - Median debt is larger than one year of average earnings six years after entry (a ratio above 1.0).
- Payback period39.7 years - The median payback across the schools we score is about 12 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 |
| Average 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 first number you'll see is the sticker price: $25,240/year, which covers tuition and fees only. After grants, scholarships, and aid, the average student here pays a net price of $23,283/year, or roughly $93,132 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 $14,137/year here, while families earning over $110,000 pay $29,105/year.
Among graduates who borrowed, the median federal loan debt from this school is $27,000, which works out to about $286 a month on the standard 10-year repayment plan. Our debt-to-earnings ratio divides that debt by average earnings six years after entry ($26,900) and comes to 1.00, 1.0 or higher, meaning median debt is at least 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 | $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 cost - but the post-graduation earnings ceiling of $26,900 at 6 years means the math is genuinely tight.
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.
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. 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 | Median of schools we score |
|---|---|---|
| 1-year repayment | 59.9% | 68.8% |
| 3-year repayment | 66.5% | 73.6% |
| 5-year repayment | 62.4% | 67.7% |
| 7-year repayment | 69.5% | 72.8% |
Completion Rate
Trends Over Time
How Converse University’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 | 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 completion rate is 61.5%. 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.
| 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.
The Verdict: Below Benchmark Under Our Scoring
Under our methodology, Converse University scores 21/100, which falls in the Below Benchmark tier (below 45). At a net price of $23,283 per year, with typical graduate earnings of $40,867 ten years after entry, we estimate the payback period at about 39.7 years. In our view that makes the financial case a hard one to make on the numbers alone, but those numbers are averages: your major, your aid package and what you want from a degree all change the picture, so run your own numbers before you commit.
What to keep an eye on: weak earnings relative to cost, a debt-to-earnings ratio of 1.00 (median across the schools we score: 0.61), a three-year loan repayment rate of 66.5% (median across the schools we score: 73.6%), a long payback period.
Median debt of $27,000 among graduates who borrowed, against average earnings of $26,900 six years after entry, gives a debt-to-earnings ratio of 1.00. That is 1.0 or higher, meaning median debt is at least a full year of those earnings, so your major - and how much you borrow - really matters.
Converse University: Common Questions
Is Converse University worth it?
In our view, the financial case is a hard one to make on the numbers alone. Converse University scores 21/100 on our ROI scale, in the Below Benchmark tier (below 45). At $23,283 a year after aid against $40,867 in typical earnings ten years out, we estimate the payback period at about 39.7 years. Your major and aid package can change the picture, so run your own numbers.
How much does Converse University 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 $23,283 a year, or roughly $93,132 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 Converse University graduates earn?
The typical graduate earns about $40,867 ten years after enrolling, at or below the $41,800 median for high-school graduates (NCES, 2022). With little earnings gap to cover the cost, the financial return is hard to make.
How long does it take to pay off Converse University?
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 39.7 years for Converse University. The median across the schools we track is about 12 years.
How much debt do Converse University graduates take on?
Among graduates who borrowed, median federal loan debt from this school is about $27,000, against average earnings of $26,900 six years after entry - a debt-to-earnings ratio of 1.00. That is 1.0 or higher, meaning median debt is at least a full year of those earnings, so how much you borrow really matters.
What is the graduation rate at Converse University?
The six-year graduation rate is 61.5%. The national average for four-year schools is 64% (NCES, 2022). Completion is 15% of our ROI score, since a degree you don't finish rarely pays back.
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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.