Franklin College
Franklin, Indiana · Private Nonprofit · 69.8% acceptance rate
ROI Score: 48/100 · Below Average Value
Data: 2024-25 College Scorecard release
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. Average 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 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 |
| Average 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 first number you'll see is the sticker price: $38,710/year, which covers tuition and fees only. After grants, scholarships, and aid, the average student here pays a net price of $22,855/year, or roughly $91,420 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 $14,790/year here, while families earning over $110,000 pay $30,316/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 ($36,000) and comes to 0.75, under 1.0, meaning median debt is less than 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 | $14,790 |
| $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 average 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 average earnings.
Higher-income families ($110K+)
The 110001-plus bracket pays $30,316 per year - roughly $121,000 over four years. Against $36,000 average 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.
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.
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 | Median of schools we score |
|---|---|---|
| 1-year repayment | 74.4% | 68.8% |
| 3-year repayment | 80.6% | 73.6% |
| 5-year repayment | 80.6% | 67.7% |
| 7-year repayment | 81.7% | 72.8% |
Completion Rate
Trends Over Time
How Franklin College’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 | 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. 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.
Franklin's completion rate is 60.3% and repayment rate is 80.6%.
| 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 money case for Franklin College is mixed, and worth a hard look before you commit. At $22,855 per year after aid, the typical graduate earns $55,376 ten years after entry, which means it takes about 11.4 years to earn the cost back. For context, the median payback across the schools we score is about 12 years. Whether it's worth it comes down to your major and your aid package.
What to keep an eye on: a debt-to-earnings ratio of 0.75 (median across the schools we score: 0.61).
Median debt of $27,000 among graduates who borrowed, against average earnings of $36,000 six years after entry, gives a debt-to-earnings ratio of 0.75. That is under 1.0 (a full year of those earnings); the median across the schools we score is about 0.61. Your major - and how much you borrow - really matters.
Franklin College: Common Questions
Is Franklin College worth it?
In our view, the money case is mixed and worth a hard look before you commit. Franklin College scores 48/100 on our ROI scale. At $22,855 a year after aid the typical graduate earns $55,376 ten years after entry, so it takes about 11.4 years to earn the cost back. For context, the median payback across the schools we score is about 12 years.
How much does Franklin College 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 $22,855 a year, or roughly $91,420 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 Franklin College graduates earn?
The typical graduate earns about $55,376 ten years after enrolling, roughly $13,576 a year more than the median high-school graduate ($41,800, per NCES, 2022). That earnings gap is what has to cover the cost of the degree.
How long does it take to pay off Franklin College?
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 11.4 years for Franklin College. The median across the schools we track is about 12 years.
How much debt do Franklin College graduates take on?
Among graduates who borrowed, median federal loan debt from this school is about $27,000, against average earnings of $36,000 six years after entry - a debt-to-earnings ratio of 0.75. That is under 1.0 (a full year of those earnings); the median across the schools we score is about 0.61. How much you borrow really matters.
What is the graduation rate at Franklin College?
The six-year graduation rate is 60.3%. 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.