Florida Memorial University
Miami Gardens, Florida · Private Nonprofit · 85.3% acceptance rate
ROI Score: 7/100 · Poor Value
Florida Memorial University, an HBCU in Miami Gardens, posts a 7 ROI score - tied for one of the lowest in this batch. 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 devastating: 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. Florida Memorial's HBCU mission of serving Black students in South Florida is genuine and historically important, but the current financial structure is breaking students who enroll.
The data raises concerns about Florida Memorial University
These metrics fall below the thresholds most financial advisors recommend for a sound college investment. Review them carefully before committing.
- ROI Score7/100 - Poor Value tier (below 45). Most 4-year schools we track score 60 or higher.
- Debt-to-earnings1.27 - Advisors recommend total student debt stay below one year of salary (ratio under 1.0).
- 6-year graduation rate31.1% - 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.
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 |
| Median 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 sticker price at Florida Memorial University is $20,174/year. But sticker price isn't what most students pay. After grants, scholarships, and financial aid, the average student pays a net price of $23,238/year, or roughly $92,952 over four years.
That net price varies significantly by family income. The lowest-income families (under $30,000/year) pay an average of $21,882/year, while families earning over $110,000 pay $30,076/year.
The median graduate leaves with $30,063 in federal loan debt, translating to an estimated monthly payment of $319 on a standard 10-year repayment plan. Against median earnings of $36,624 ten years out, the debt-to-earnings ratio is 1.27 - 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 | $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 the brutal trap: 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. South Florida law-enforcement agencies (Miami-Dade Police, FHP, BSO) hire graduates, but few of those positions require a four-year degree - high-school diploma plus academy training is sufficient for most patrol roles. 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 | Nat'l Avg |
|---|---|---|
| 1-year repayment | 16.5% | 52.0% |
| 3-year repayment | 27.0% | 62.0% |
| 5-year repayment | 24.8% | 68.0% |
| 7-year repayment | 28.7% | 72.0% |
Completion Rate
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.
Florida Memorial's peer set is well-matched to mission: Baptist University of Florida is a Florida Christian small-private; Barry University is a larger Catholic Miami-area private; Miles College, Philander Smith University, and Wiley University are all HBCUs serving similar demographics. ROI scores across this HBCU-heavy peer group are uniformly weak, reflecting structural challenges in the small-HBCU sector. Barry University outperforms thanks to scale and major mix; the HBCU peers cluster in similar low-teens-to-twenties ROI territory.
| 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
Florida Memorial fits Black students from South Florida and the Caribbean diaspora who want an HBCU community experience in Miami Gardens. 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. Students with strong community and family ties to Florida Memorial's mission may find the experience valuable; those evaluating purely on financial ROI should compare against Florida A&M (FAMU), Florida International, and Miami Dade College, all of which offer better outcomes at lower cost.
The Verdict: The Numbers Don't Add Up
The financial data raises serious concerns about Florida Memorial University. With a net cost of $23,238 per year and median graduate earnings of only $36,624 ten years out, the estimated payback period exceeds >50 years. For most students, the financial return does not justify the cost.
Areas of concern include weak earnings relative to cost and a 31.1% graduation rate and high debt relative to what graduates earn and concerning loan repayment rates and a long payback period.
Median debt of $30,063 against $36,624 in earnings is concerning. The debt-to-earnings ratio of 0.82 exceeds the commonly recommended threshold. Major choice is critical here.
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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.