Franklin College
Franklin, Indiana · Private Nonprofit · 69.8% acceptance rate
ROI Score: 48/100 · Below Average Value
Franklin College scores 48 (Below Average Value) on the CampusROI scale. Located in Franklin, Indiana, with 900 students, this is a small private liberal arts college with a sticker tuition of $38,710 and a net price of $22,855. Median 6-year earnings of $36,000 are modest and the 11.4-year payback is long. The debt-to-earnings ratio of 0.750 is elevated, with $27,000 median debt being the institutional ceiling for all programs. The completion rate of 60.3% and repayment rate of 80.6% are middling. The Pell grant rate of 36.4% reflects a mix of low- and middle-income students. Program outcomes are limited by the small class sizes -- most programs have fewer than 20 graduates. The strongest earner is Finance ($57,037 year one, $84,829 year four for 1 graduate -- not statistically reliable) and Business Administration ($56,487 year one, $77,821 year four for 10 graduates). Teacher Education (15 graduates) earns $47,610 year one with a C grade. Kinesiology (22 graduates) carries an F grade (debt-to-earnings 1.117, $24,181 year one). Franklin College serves Indiana students seeking a small residential college experience at a net cost that, while discounted from sticker, still requires a payback commitment that many programs cannot comfortably support.
Franklin College
Quick Numbers
| In-state tuition + fees | $38,710/yr |
| Out-of-state tuition + fees | $38,710/yr |
| Average net price | $22,855/yr |
| Total 4-year cost (net) | $91,420 |
| Median earnings (10yr post-entry) | $55,376 |
| Median earnings (6yr post-entry) | $36,000 |
| Median debt at graduation | $27,000 |
| Estimated monthly loan payment | $286 |
| Estimated payback period | 11.4 years |
| 6-year graduation rate | 60.3% |
| Undergraduate enrollment | 900 |
Data as of 2024-2025. Source: College Scorecard API (U.S. Department of Education).
The Full Financial Picture
The sticker price at Franklin College is $38,710/year. But sticker price isn't what most students pay. After grants, scholarships, and financial aid, the average student pays a net price of $22,855/year, or roughly $91,420 over four years.
That net price varies significantly by family income. The lowest-income families (under $30,000/year) pay an average of $14,790/year, while families earning over $110,000 pay $30,316/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 $55,376 ten years out, the debt-to-earnings ratio is 0.75 - within the recommended range but worth monitoring.
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 | $14,790 |
| $30,001 - $48,000 | $15,822 |
| $48,001 - $75,000 | $20,093 |
| $75,001 - $110,000 | $23,439 |
| $110,001+ | $30,316 |
Cost by Income Bracket Explained
Lower-income families (under $30K)
The 0-30000 income bracket pays $14,790 per year, which is a meaningful discount from the $38,710 sticker price. Against $36,000 median 6-year earnings and an 11.4-year payback, even the discounted cost produces a slow return. Low-income students who complete business or teacher education programs can make the numbers work, but the margin is thin. The 60.3% completion rate means nearly four in ten do not finish.
Middle-income families ($30K-$110K)
The 48001-75000 bracket pays $20,093 and the 75001-110000 bracket pays $23,439. These are substantial costs relative to $36,000 median earnings. Middle-income families with students targeting business or professional paths should compare Franklin against Indiana University and Purdue's regional campuses, which offer lower net costs for similar Indiana employment outcomes.
Higher-income families ($110K+)
The 110001-plus bracket pays $30,316 per year -- roughly $121,000 over four years. Against $36,000 median 6-year earnings and an 11.4-year payback, the financial case for full-pay families is weak unless the student enters one of the institution's better-earning programs. The small campus and tight community may be the primary non-financial draw.
Earnings by Major
Top 10 most popular majors at Franklin College with available earnings data.
| Major | Median Earnings | Grade |
|---|---|---|
| Kinesiology and Exercise Science | $54,636 | F |
| Psychology | $49,687 | D |
| Teacher Education | $46,423 | C |
| Sociology | $58,827 | D |
| Biology | $30,969 | D |
| Business Administration, Management, and Operations | $77,821 | - |
| Public Relations, Advertising, and Applied Communication | $54,298 | D |
| Business Administration and Management | $84,491 | - |
| Finance and Financial Management | $84,829 | - |
| Teacher Education, Subject-Specific | $49,725 | - |
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 Administration (10 graduates) earns $56,487 year one and $77,821 at year four. Scorecard does not report median debt or a debt-to-earnings ratio for this program. The year-one figure is the strongest reportable business outcome at Franklin and reflects solid placement into Indiana corporate employment. Small sample size limits statistical confidence but the earnings are consistent with business graduates from small Midwest private colleges.
Teacher Education
Teacher Education (15 graduates) earns $47,610 year one and $46,423 at year four -- earnings are essentially flat and slightly declining, likely reflecting the structure of Indiana teacher salary schedules. Debt-to-earnings ratio of 0.567 (C grade) with median debt of $27,000. Year-four earnings being lower than year one is unusual and may reflect the reporting period coinciding with advanced degree pursuit. Teaching is a vocation-driven choice with limited financial upside in Indiana at this credential level.
Psychology
Psychology (17 graduates) earns $31,769 year one and $49,687 at year four, with a D grade (debt-to-earnings 0.850, median debt $27,000). Year-one earnings are weak relative to the debt load. The D grade reflects that debt nearly equals annual year-one earnings, creating a difficult repayment timeline. Students planning graduate school in psychology should factor the additional debt into their calculations.
Kinesiology and Exercise Science
Kinesiology (22 graduates) earns an F grade: $24,181 year one, $54,636 at year four, with median debt of $27,000 and a debt-to-earnings ratio of 1.117. Year-one earnings are well below the annual debt amount, meaning graduates face immediate financial strain. The four-year jump to $54k is substantial but requires years of financial hardship to reach. Kinesiology at this net cost is difficult to justify on financial grounds without a clear path to higher-earnings adjacent roles.
Biology
Biology (11 graduates) earns $30,969 year one (no four-year data reported), with a D grade (debt-to-earnings 0.872, median debt $27,000). Year-one biology earnings suggest many graduates are in lab technician, research assistant, or pre-grad roles. The ratio of 0.872 is very high for year-one relative to debt. Biology pre-professional students (pre-med, pre-dental) who take on debt here for graduate school are adding to an already high base.
How Graduates Do
Earnings
Loan Repayment
| Metric | This School | Nat'l Avg |
|---|---|---|
| 1-year repayment | 74.4% | 52.0% |
| 3-year repayment | 80.6% | 62.0% |
| 5-year repayment | 80.6% | 68.0% |
| 7-year repayment | 81.7% | 72.0% |
Completion Rate
Admissions Snapshot
| Acceptance rate | 69.8% |
| SAT Math (25th-75th) | 520-620 |
| SAT Reading (25th-75th) | 540-620 |
| ACT Composite (25th-75th) | 20-26 |
| Enrollment | 900 |
| Pell Grant recipients | 36.4% |
| Avg faculty salary (monthly) | $7,146 |
At 69.8%, Franklin is accessible. SAT 520-620 Math and 540-620 Reading reflects a moderate academic profile consistent with small Indiana private colleges. ACT 20-26 composite. Admissions are not a meaningful barrier for most applicants; financial fit and program selection are more important considerations.
Compared to Similar Schools
Peer institutions matched by type, size, and selectivity.
Scorecard peers include Anderson University, Bethel University, Hartwick College, and Heritage University. Franklin's ROI of 48 is consistent with small Midwest private colleges at similar price points. Bethel University (Indiana) and Anderson University share Indiana Baptist/evangelical private college characteristics. Hartwick College is a comparable small liberal arts college in New York. Among this cohort, Franklin's 60.3% completion rate and 80.6% repayment rate are middle-of-pack. The institution's ROI challenge is structural: a $22,855 net price against $36,000 median earnings is a difficult equation regardless of institutional quality.
| School | ROI | Net Price | 10yr Earnings |
|---|---|---|---|
| Franklin College (this school) | 48 | $22,855 | $55,376 |
| Heritage University | 51 | $14,598 | $49,416 |
| Regis College | 49 | $27,477 | $52,873 |
| Hartwick College | 48 | $31,320 | $61,107 |
| Bethel University | 34 | $18,610 | $48,860 |
| Anderson University | 32 | $25,021 | $48,899 |
Who Thrives Here
Franklin admits 69.8% of applicants. SAT mid-ranges are 520-620 Math and 540-620 Reading; ACT 20-26. Enrollment of 900 is very small. Pell grant rate of 36.4% indicates substantial low-income enrollment. The institution draws primarily from Indiana and neighboring states. Students seeking a small, residentially intimate liberal arts experience with reasonable proximity to Indianapolis (about 35 miles) will find a consistent environment. The earnings profile rewards professional tracks (business, finance, teacher education) and is challenged by kinesiology and biology programs where near-term earnings are low relative to debt.
The Verdict: Proceed With Caution
The financial case for Franklin College is mixed. At $22,855 per year net cost, graduates earn a median of $55,376 ten years after entry - a payback period of 11.4 years. That's below the average return for four-year institutions, and prospective students should carefully consider whether the investment aligns with their financial goals.
Areas of concern include high debt relative to what graduates earn.
Median debt of $27,000 against $55,376 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.