Florida Memorial University
Miami Gardens, Florida · Private Nonprofit · 85.3% acceptance rate
ROI Score: 7/100 · Below Benchmark
Data: 2024-25 College Scorecard release
Florida Memorial University, an HBCU in Miami Gardens, posts a 7 ROI score. The financial picture is severe and structural. Tuition is $20,174 but net price is $23,238 - a $3,064 net-price-over-tuition gap reflecting fees, room/board, and indirect costs that outpace institutional aid. Four-year total runs $92,952. Ten-year median earnings of $36,624 against $30,063 median debt yields a debt-to-earnings ratio of 1.268 - graduates owe MORE than they earn in a year. Earnings premium is just 1.7 percent over a high-school grad. The payback period is reported at 143.4 years, our flag for situations where earnings barely service interest. Completion is 31.1 percent and repayment metrics are weak: just 16.5 percent of borrowers making principal progress one year out, climbing only to 28.7 percent at seven years - more than 70 percent of borrowers are NOT reducing principal even after seven years. Pell rate is 69.1 percent, indicating heavily low-income enrollment. Enrollment is 1,183.
How Florida Memorial 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 Score7/100 - Below Benchmark tier of our scale (below 45). For context, 38% of the schools we score reach 60 or higher.
- Debt-to-earnings1.27 - Median debt is larger than one year of average earnings six years after entry (a ratio above 1.0).
- 6-year graduation rate31.1% - The national average for four-year schools is 64% (NCES, 2022). Completion is 15% of our score, since a degree that is not finished rarely pays back.
- Payback period>50 years - In our estimate, the earnings premium over a high school completer is small next to the cost, so the cost may not be recouped within a working career.
Florida Memorial University
Quick Numbers
| In-state tuition + fees | $20,174/yr |
| Out-of-state tuition + fees | $20,174/yr |
| Average net price | $23,238/yr |
| Total 4-year cost (net) | $92,952 |
| Median earnings (10yr post-entry) | $36,624 |
| Average earnings (6yr post-entry) | $23,700 |
| Median debt at graduation | $30,063 |
| Estimated monthly loan payment | $319 |
| Estimated payback period | >50 years |
| 6-year graduation rate | 31.1% |
| Undergraduate enrollment | 1,183 |
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: $20,174/year, which covers tuition and fees only. The net price counts books, supplies, and average living costs on top of tuition and fees, then subtracts grants and scholarships. For the average student here it comes to $23,238/year, or roughly $92,952 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 $21,882/year here, while families earning over $110,000 pay $30,076/year.
Among graduates who borrowed, the median federal loan debt from this school is $30,063, which works out to about $319 a month on the standard 10-year repayment plan. Our debt-to-earnings ratio divides that debt by average earnings six years after entry ($23,700) and comes to 1.27, 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 | $21,882 |
| $30,001 - $48,000 | $22,868 |
| $48,001 - $75,000 | $24,425 |
| $75,001 - $110,000 | $26,861 |
| $110,001+ | $30,076 |
Cost by Income Bracket Explained
Lower-income families (under $30K)
Families under $30,000 pay $21,882 net per year, about $87,500 over four. Pell ($7,395 max) plus Florida Bright Futures Scholarship for eligible students closes part of the gap; the remainder typically requires substantial Direct loan and Parent PLUS borrowing. Given $36K median earnings, this debt is essentially unservicable for low-income graduates - and the 16.5 percent 1-year repayment rate confirms this in practice.
Middle-income families ($30K-$110K)
Households at $48,001 to $75,000 pay $24,425 - higher than the low-income bracket. The progression across all brackets is smooth and steep: $21,882 to $30,076 from bottom to top, with little institutional discounting for lower-income families. This is unusual and means the financial burden falls disproportionately on the heavily Pell-eligible enrolled population.
Higher-income families ($110K+)
Households above $110,000 pay $30,076 per year, about $120,300 over four years. The pricing structure does not meaningfully reward affluence; it tracks income closely. Few affluent students appear to enroll; the actual student body is concentrated below $48K family income. Affluent families with FMU mission affinity should still expect to pay close to sticker.
Earnings by Major
Top 3 most popular majors at Florida Memorial University with available earnings data.
| Major | Median Earnings | Grade |
|---|---|---|
| Criminal Justice and Corrections | $45,656 | - |
| Psychology | $29,042 | F |
| Social Work | $45,821 | 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.
Psychology
Psychology produces 13 graduates with one-year earnings of $27,548 and four-year of $29,042 - essentially no wage growth - against $32,500 median debt. The 1.18 debt-to-earnings ratio and F grade reflect that borrowers owe more than they earn annually. Psychology BAs nationally need graduate work to reach professional pay; for low-income graduates already saddled with $32K debt, that graduate-school step is essentially out of reach without further borrowing.
Criminal Justice and Corrections
Criminal Justice produces 19 graduates with four-year earnings of $45,656. Debt and one-year earnings are not reported. Students should weigh whether the four-year credential delivers enough earnings premium to justify the borrowing.
Social Work
Social Work produces only 3 graduates - too small to draw meaningful conclusions. Four-year earnings of $45,821 against $33,000 debt yield a 0.72 ratio and D grade. Social work earnings are structurally constrained by nonprofit and government salary scales; the BSW credential is a starting point that typically requires MSW for licensure and clinical roles. Plan for graduate work.
How Graduates Do
Earnings
Loan Repayment
| Metric | This School | Median of schools we score |
|---|---|---|
| 1-year repayment | 16.5% | 68.8% |
| 3-year repayment | 27.0% | 73.6% |
| 5-year repayment | 24.8% | 67.7% |
| 7-year repayment | 28.7% | 72.8% |
Completion Rate
Trends Over Time
How Florida Memorial 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 | 85.3% |
| Enrollment | 1,183 |
| Pell Grant recipients | 69.1% |
| Avg faculty salary (monthly) | $7,615 |
Florida Memorial admits 85.3 percent of applicants. No SAT or ACT mid-ranges are reported, consistent with test-optional admissions and small enough cohorts that publishing scores is suppressed. The 31.1 percent completion rate reflects both the academic-preparation distribution of incoming students and the financial strain that drives stop-outs. Selectivity is not the issue; financial sustainability and academic support are.
Compared to Similar Schools
Peer institutions matched by type, size, and selectivity.
| School | ROI | Net Price | 10yr Earnings |
|---|---|---|---|
| Florida Memorial University (this school) | 7 | $23,238 | $36,624 |
| Southern University at New Orleans | 8 | $14,810 | $34,042 |
| Tougaloo College | 7 | $17,043 | $34,724 |
| Stillman College | 6 | $15,258 | $35,421 |
| Bennett College | 6 | $28,299 | $36,654 |
| Saint Augustine's University | 6 | $24,313 | $35,730 |
Who Thrives Here
Enrollment of 1,183 supports tight cohort identity. The 69.1 percent Pell rate signals overwhelmingly low-income enrollment - exactly the population that should be most cautious about the $93K four-year sticker.
The Verdict: Below Benchmark Under Our Scoring
Under our methodology, Florida Memorial University scores 7/100, which falls in the Below Benchmark tier (below 45). At a net price of $23,238 per year, with typical graduate earnings of $36,624 ten years after entry, we estimate the payback period at more than 50 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, its 31.1% graduation rate, a debt-to-earnings ratio of 1.27 (median across the schools we score: 0.61), a three-year loan repayment rate of 27.0% (median across the schools we score: 73.6%), a long payback period.
Median debt of $30,063 among graduates who borrowed, against average earnings of $23,700 six years after entry, gives a debt-to-earnings ratio of 1.27. 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.
Florida Memorial University: Common Questions
Is Florida Memorial University worth it?
In our view, the financial case is a hard one to make on the numbers alone. Florida Memorial University scores 7/100 on our ROI scale, in the Below Benchmark tier (below 45). At $23,238 a year after aid against $36,624 in typical earnings ten years out, we estimate the payback period at more than 50 years. Your major and aid package can change the picture, so run your own numbers.
How much does Florida Memorial 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 $23,238 a year, or roughly $92,952 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 Florida Memorial University graduates earn?
The typical graduate earns about $36,624 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 Florida Memorial 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 more than 50 years for Florida Memorial University. The median across the schools we track is about 12 years.
How much debt do Florida Memorial University graduates take on?
Among graduates who borrowed, median federal loan debt from this school is about $30,063, against average earnings of $23,700 six years after entry - a debt-to-earnings ratio of 1.27. 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 Florida Memorial University?
The six-year graduation rate is 31.1%. 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.