Freed-Hardeman University
Henderson, Tennessee · Private Nonprofit · 59.7% acceptance rate
ROI Score: 41/100 · Poor Value
Freed-Hardeman University posts an overall ROI score of 41 out of 100, placing it in the Poor Value tier despite a genuinely strong completion rate. The numbers tell a mixed story: a 70.8% completion rate is excellent and produces an 80/100 sub-score, but median earnings of just $31,500 six years after enrollment (rising to $47,485 by year 10) keep the earnings premium low (28/100). Median debt of $21,500 is moderate, but against weak earnings it produces a 0.683 debt-to-earnings ratio and an 18.1-year payback period. Sticker tuition is $25,620 with net price of $21,574 -- so institutional aid discounts are modest, around $4,000 per year. The 77.4% three-year repayment rate is solid, indicating graduates are paying down loans despite modest wages. Freed-Hardeman is a Church of Christ-affiliated school in rural West Tennessee where the institutional mission emphasizes faith formation and community over career maximization, and the ROI numbers reflect graduates pursuing modestly-paid vocations in ministry, education, and small-town professional life.
The data raises concerns about Freed-Hardeman University
These metrics fall below the thresholds most financial advisors recommend for a sound college investment. Review them carefully before committing.
- ROI Score41/100 - Poor Value tier (below 45). Most 4-year schools we track score 60 or higher.
- Payback period18.1 years - Most 4-year schools we track have payback periods of 4-10 years.
Freed-Hardeman University
Quick Numbers
| In-state tuition + fees | $25,620/yr |
| Out-of-state tuition + fees | $25,620/yr |
| Average net price | $21,574/yr |
| Total 4-year cost (net) | $86,296 |
| Median earnings (10yr post-entry) | $47,485 |
| Median earnings (6yr post-entry) | $31,500 |
| Median debt at graduation | $21,500 |
| Estimated monthly loan payment | $228 |
| Estimated payback period | 18.1 years |
| 6-year graduation rate | 70.8% |
| Undergraduate enrollment | 1,212 |
Data as of 2024-2025. Source: College Scorecard API (U.S. Department of Education).
The Full Financial Picture
The sticker price at Freed-Hardeman University is $25,620/year. But sticker price isn't what most students pay. After grants, scholarships, and financial aid, the average student pays a net price of $21,574/year, or roughly $86,296 over four years.
That net price varies significantly by family income. The lowest-income families (under $30,000/year) pay an average of $20,988/year, while families earning over $110,000 pay $23,618/year.
The median graduate leaves with $21,500 in federal loan debt, translating to an estimated monthly payment of $228 on a standard 10-year repayment plan. Against median earnings of $47,485 ten years out, the debt-to-earnings ratio is 0.68 - 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 | $20,988 |
| $30,001 - $48,000 | $21,788 |
| $48,001 - $75,000 | $19,639 |
| $75,001 - $110,000 | $21,308 |
| $110,001+ | $23,618 |
Cost by Income Bracket Explained
Lower-income families (under $30K)
Families under $30,000 pay $20,988 net -- barely below the listed average. Pell grants and federal loans absorb most of the cost, but institutional need-based aid appears limited. Over four years that is roughly $84,000 toward a degree where median graduates earn $31,500. The math is tight; nursing graduates can make it work, but humanities-track students take on debt that will be slow to repay.
Middle-income families ($30K-$110K)
The $30,001-$48,000 bracket pays $21,788 and the $48,001-$75,000 bracket drops slightly to $19,639. The $75,001-$110,000 bracket comes back up to $21,308. Aid is essentially flat across middle-income brackets, suggesting institutional discounting is not progressive. Middle-income families face the same effective price as low-income families, which is rough math against weak post-graduation earnings.
Higher-income families ($110K+)
Families above $110,000 pay $23,618 -- modestly above the other brackets but still below sticker. High-income families with strong Church of Christ ties may find the cultural and spiritual return justifies the cost, but on pure ROI terms, the math does not pencil out compared to public alternatives in Tennessee.
Earnings by Major
Top 4 most popular majors at Freed-Hardeman University with available earnings data.
| Major | Median Earnings | Grade |
|---|---|---|
| Teacher Education | $43,057 | C |
| Registered Nursing | $67,718 | B |
| Bible/Biblical Studies | $50,335 | C |
| Social Work | $40,833 | C |
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.
Registered Nursing
Nursing is Freed-Hardeman's standout high-ROI program with 37 graduates per year. First-year median earnings of $64,784 are strong for the region, rising modestly to $67,718 by year four (suggesting graduates stay in lower-cost rural and small-city Tennessee/Mississippi nursing markets). Median debt of $24,800 produces a 0.383 debt-to-earnings ratio and a B ROI grade. This program is the principal economic justification for choosing Freed-Hardeman over a cheaper public alternative.
Bible/Biblical Studies
Bible/Biblical Studies graduates 22 students with first-year earnings of $44,142 -- unusually strong for a religion major, reflecting the Church of Christ ministry pipeline and youth ministry positions that Freed-Hardeman feeds. Median debt of $25,000 produces a 0.566 ratio and a C ROI grade. Students entering this major typically have ministry vocations in mind and accept the earnings tradeoff; the program delivers reasonable economics within that mission.
Teacher Education
Teacher Education graduates 38 students -- one of the highest-volume programs. First-year earnings of $40,936 climb only slightly to $43,057 by year four, which is typical of teaching career trajectories where wage growth comes from step increases rather than market mobility. Median debt of $23,125 produces a 0.565 ratio and a C ROI grade. Graduates typically teach in West Tennessee and northern Mississippi public and private schools.
Social Work
Social Work graduates 14 students per year with four-year median earnings of $40,833 (year-one is unreported), median debt of $24,200, and a 0.593 debt-to-earnings ratio earning a C ROI grade. Graduates pipeline into rural social services agencies, faith-based nonprofits, and county case management positions. The economics are typical of social work programs nationally -- modest pay, modest debt, modest ROI.
How Graduates Do
Earnings
Loan Repayment
| Metric | This School | Nat'l Avg |
|---|---|---|
| 1-year repayment | 72.6% | 52.0% |
| 3-year repayment | 77.4% | 62.0% |
| 5-year repayment | 70.9% | 68.0% |
| 7-year repayment | 74.8% | 72.0% |
Completion Rate
Admissions Snapshot
| Acceptance rate | 59.7% |
| SAT Math (25th-75th) | 471-538 |
| SAT Reading (25th-75th) | 481-549 |
| ACT Composite (25th-75th) | 19-26 |
| Enrollment | 1,212 |
| Pell Grant recipients | 18.0% |
| Avg faculty salary (monthly) | $7,300 |
Freed-Hardeman has a 59.7% admit rate with SAT mid-ranges of 471-538 math and 481-549 reading, and ACT composite 19-26. The school is moderately selective with a broadly-prepared but not academically elite student profile. The relatively higher selectivity (under 60%) combined with the religious mission filters for students who are committed to the institution's culture, which helps explain the unusually high 70.8% completion rate despite a small, rural campus -- students who enroll are largely those who intend to finish.
Compared to Similar Schools
Peer institutions matched by type, size, and selectivity.
Freed-Hardeman's peers are small faith-affiliated and regional privates. American Baptist College is the closest mission-matched peer with a similar denominational identity. Baptist Health Sciences University offers a contrasting health-specialized model in the same Tennessee region. Chatham University (PA), Mount St. Joseph University (OH), and Geneva College (PA) are mid-tier Christian and Catholic privates with similar enrollment sizes and ROI scores in the same low-Fair to Poor Value range. Across this peer set, Freed-Hardeman's 70.8% completion rate stands out as a relative strength.
| School | ROI | Net Price | 10yr Earnings |
|---|---|---|---|
| Freed-Hardeman University (this school) | 41 | $21,574 | $47,485 |
| Baptist Health Sciences University | 69 | $11,212 | $72,529 |
| Mount St. Joseph University | 44 | $16,530 | $51,509 |
| Chatham University | 39 | $29,954 | $52,410 |
| Geneva College | 38 | $25,890 | $50,004 |
| American Baptist College | 32 | $9,216 | $41,216 |
Who Thrives Here
Enrollment of 1,212 with an unusually low 18% Pell rate signals that Freed-Hardeman draws predominantly from Church of Christ families with middle-income financial profiles. The student body is selectively committed to the institutional mission. Strong fit: nursing students (the standout B ROI program at 37 graduates), education majors planning to teach in faith-affiliated schools or rural Tennessee districts, and Bible/ministry students who view earnings as secondary to vocation. Weak fit: students primarily focused on earnings maximization, who would do better at UT-Knoxville, UT-Martin, or Middle Tennessee State.
The Verdict: The Numbers Don't Add Up
The financial data raises serious concerns about Freed-Hardeman University. With a net cost of $21,574 per year and median graduate earnings of only $47,485 ten years out, the estimated payback period exceeds 18.1 years. For most students, the financial return does not justify the cost.
Key strengths include a 70.8% graduation rate. However, the data also shows weak earnings relative to cost and high debt relative to what graduates earn and a long payback period.
Median debt of $21,500 against $47,485 in earnings is reasonable, though major choice matters significantly. Students in higher-earning programs will see better returns.
NewsletterCollege decisions are better with data.
New analyses, updated school profiles, and tools - when there’s something worth acting on.
Rankings & Links
Guides & Tools
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.