Edward Waters University
Jacksonville, Florida · Private Nonprofit · 85.0% acceptance rate
ROI Score: 25/100 · Poor Value
Edward Waters University scores 25 (Poor Value) -- a critically weak result for a private HBCU in Jacksonville, Florida. Median 6-year earnings of $22,700 and a payback period recorded as 999 (no calculable payback) reflect a situation where graduates do not earn enough above the non-college baseline to generate a recoverable return on investment within a measurable horizon. The 28.2% completion rate means fewer than three in ten entering students graduate. The 1-year repayment rate of 9.3% -- meaning over 90% of borrowers are not making progress on their loans one year after leaving school -- is one of the worst in the dataset. The school's debt-to-earnings ratio sub-score of 100 reflects a debtToEarningsRatio of 0, which is a data anomaly (median debt is null in the Scorecard), not a genuine positive. These outcomes describe an institution serving Jacksonville's most economically vulnerable students with very limited success at producing credential attainment.
The data raises concerns about Edward Waters University
These metrics fall below the thresholds most financial advisors recommend for a sound college investment. Review them carefully before committing.
- ROI Score25/100 - Poor Value tier (below 45). Most 4-year schools we track score 60 or higher.
- 6-year graduation rate28.2% - Well below the 60% national average. Non-completion is the fastest route to negative ROI.
- Payback period>50 years - Graduates earn at or near the level of high school completers — the cost may not recoup within a working career.
Edward Waters University
Quick Numbers
| In-state tuition + fees | $16,366/yr |
| Out-of-state tuition + fees | $16,366/yr |
| Average net price | $13,649/yr |
| Total 4-year cost (net) | $54,596 |
| Median earnings (10yr post-entry) | $34,782 |
| Median earnings (6yr post-entry) | $22,700 |
| Median debt at graduation | N/A |
| Estimated monthly loan payment | $0 |
| Estimated payback period | >50 years |
| 6-year graduation rate | 28.2% |
| Undergraduate enrollment | 1,087 |
Data as of 2024-2025. Source: College Scorecard API (U.S. Department of Education).
The Full Financial Picture
The sticker price at Edward Waters University is $16,366/year. But sticker price isn't what most students pay. After grants, scholarships, and financial aid, the average student pays a net price of $13,649/year, or roughly $54,596 over four years.
That net price varies significantly by family income. The lowest-income families (under $30,000/year) pay an average of $12,380/year, while families earning over $110,000 pay $20,865/year.
The median graduate leaves with N/A in federal loan debt, translating to an estimated monthly payment of $0 on a standard 10-year repayment plan. Against median earnings of $34,782 ten years out, the debt-to-earnings ratio is 0.00 - 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 | $12,380 |
| $30,001 - $48,000 | $12,113 |
| $48,001 - $75,000 | $9,743 |
| $75,001 - $110,000 | $21,661 |
| $110,001+ | $20,865 |
Cost by Income Bracket Explained
Lower-income families (under $30K)
Low-income families (0-$30,000) pay $12,380 per year at Edward Waters University -- $49,520 over four years, assuming full four-year completion. Against $22,700 median 6-year earnings and a 28.2% completion rate, most students in this bracket will not complete and will carry debt without a degree. The school's 75.5% Pell grant rate means the federal government subsidizes the majority of student costs here; those Pell dollars are producing poor outcome returns. Pell-eligible students in Jacksonville should rigorously compare EWU against Florida A&M University, Jacksonville University, and Florida State College at Jacksonville before enrolling.
Middle-income families ($30K-$110K)
The $48,001-$75,000 bracket pays $9,743 per year -- lower than the lowest-income bracket, an unusual inversion likely reflecting specific aid or scholarship program thresholds. The $75,001-$110,000 bracket pays $21,661 per year. The step-down for the $48k-$75k bracket is notable and may reflect institutional merit aid programs. Against $22,700 median earnings and a 28.2% completion rate, even lower net price tiers face very poor expected returns.
Higher-income families ($110K+)
Higher-income families ($110,000+) pay $20,865 per year -- $83,460 over four years. At this net price, attending EWU for non-HBCU-specific reasons makes no financial sense given the completion and earnings data. High-income families choosing EWU would be doing so for community, identity, or mission reasons that the Scorecard data does not capture -- and should enter that decision with full awareness of the institutional outcome profile.
How Graduates Do
Earnings
Loan Repayment
| Metric | This School | Nat'l Avg |
|---|---|---|
| 1-year repayment | 9.3% | 52.0% |
| 3-year repayment | 26.4% | 62.0% |
| 5-year repayment | 19.9% | 68.0% |
| 7-year repayment | 29.0% | 72.0% |
Completion Rate
Admissions Snapshot
| Acceptance rate | 85.0% |
| Enrollment | 1,087 |
| Pell Grant recipients | 75.4% |
| Avg faculty salary (monthly) | $5,800 |
EWU's 84.9% admission rate and absence of test score data describe open-access enrollment. The school's HBCU mission prioritizes access for students who face significant barriers to higher education. Admission is not the challenge here -- completion and post-graduation outcomes are. Prospective students should ask directly about retention support, financial aid renewal policies, and career placement resources before enrolling.
Compared to Similar Schools
Peer institutions matched by type, size, and selectivity.
Edward Waters University's peers include Baptist University of Florida, Barry University, Mary Baldwin University, Guilford College, and Atlantic University. Among named peers, Barry University is the most comparable in size and Florida market context -- a private Catholic university serving a diverse Miami-area population. EWU (25) scores substantially below Barry, which has stronger completion and earnings outcomes despite also serving a high-need population. Mary Baldwin University and Guilford College are small private colleges in the Southeast with different demographics. EWU's performance within its peer set reflects the structural underfunding and student-body characteristics that challenge many small HBCUs rather than a simple institutional quality judgment.
| School | ROI | Net Price | 10yr Earnings |
|---|---|---|---|
| Edward Waters University (this school) | 25 | $13,649 | $34,782 |
| Winston-Salem State University | 27 | $13,479 | $45,344 |
| Prairie View A & M University | 27 | $13,570 | $45,411 |
| Tuskegee University | 26 | $35,013 | $49,641 |
| Paine College | 24 | $16,670 | $33,338 |
| Elizabeth City State University | 23 | $6,364 | $40,026 |
Who Thrives Here
Edward Waters University admits 84.9% of applicants and does not report test score data. Enrollment of 1,087 includes a 75.5% Pell grant rate -- one of the highest in this dataset -- indicating that EWU primarily serves students who are federally defined as low-income. The school is Jacksonville's only HBCU and carries real cultural and historical significance in North Florida's Black community. However, the Scorecard data is unambiguous: the school is not producing graduation or earnings outcomes that justify the financial risk for most enrolled students. The 28.2% completion rate means most students who enroll will not graduate, and the 9.3% 1-year repayment rate means most who borrow will face years of financial difficulty.
The Verdict: The Numbers Don't Add Up
The financial data raises serious concerns about Edward Waters University. With a net cost of $13,649 per year and median graduate earnings of only $34,782 ten years out, the estimated payback period exceeds >50 years. For most students, the financial return does not justify the cost.
Key strengths include manageable debt relative to earnings. However, the data also shows weak earnings relative to cost and a 28.2% graduation rate and concerning loan repayment rates and a long payback period.
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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.