Freed-Hardeman University
Henderson, Tennessee · Private Nonprofit · 59.7% acceptance rate
ROI Score: 41/100 · Below Benchmark
Data: 2024-25 College Scorecard release
Freed-Hardeman University posts an overall ROI score of 41 out of 100, placing it in the Below Benchmark 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 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.
How Freed-Hardeman 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 Score41/100 - Below Benchmark tier of our scale (below 45). For context, 38% of the schools we score reach 60 or higher.
- Payback period18.1 years - The median payback across the schools we score is about 12 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 |
| Average 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 first number you'll see is the sticker price: $25,620/year, which covers tuition and fees only. After grants, scholarships, and aid, the average student here pays a net price of $21,574/year, or roughly $86,296 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 $20,988/year here, while families earning over $110,000 pay $23,618/year.
Among graduates who borrowed, the median federal loan debt from this school is $21,500, which works out to about $228 a month on the standard 10-year repayment plan. Our debt-to-earnings ratio divides that debt by average earnings six years after entry ($31,500) and comes to 0.68, 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 | $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 average 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.
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.
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. 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.
How Graduates Do
Earnings
Loan Repayment
| Metric | This School | Median of schools we score |
|---|---|---|
| 1-year repayment | 72.6% | 68.8% |
| 3-year repayment | 77.4% | 73.6% |
| 5-year repayment | 70.9% | 67.7% |
| 7-year repayment | 74.8% | 72.8% |
Completion Rate
Trends Over Time
How Freed-Hardeman 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 | 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 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.
| 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.
The Verdict: Below Benchmark Under Our Scoring
Under our methodology, Freed-Hardeman University scores 41/100, which falls in the Below Benchmark tier (below 45). At a net price of $21,574 per year, with typical graduate earnings of $47,485 ten years after entry, we estimate the payback period at about 18.1 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 it has going for it: its 70.8% graduation rate. What to keep an eye on: weak earnings relative to cost, a debt-to-earnings ratio of 0.68 (median across the schools we score: 0.61), a long payback period.
Median debt of $21,500 among graduates who borrowed, against average earnings of $31,500 six years after entry, gives a debt-to-earnings ratio of 0.68. 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.
Freed-Hardeman University: Common Questions
Is Freed-Hardeman University worth it?
In our view, the financial case is a hard one to make on the numbers alone. Freed-Hardeman University scores 41/100 on our ROI scale, in the Below Benchmark tier (below 45). At $21,574 a year after aid against $47,485 in typical earnings ten years out, we estimate the payback period at about 18.1 years. Your major and aid package can change the picture, so run your own numbers.
How much does Freed-Hardeman 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 $21,574 a year, or roughly $86,296 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 Freed-Hardeman University graduates earn?
The typical graduate earns about $47,485 ten years after enrolling, roughly $5,685 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 Freed-Hardeman 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 about 18.1 years for Freed-Hardeman University. The median across the schools we track is about 12 years.
How much debt do Freed-Hardeman University graduates take on?
Among graduates who borrowed, median federal loan debt from this school is about $21,500, against average earnings of $31,500 six years after entry - a debt-to-earnings ratio of 0.68. 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 Freed-Hardeman University?
The six-year graduation rate is 70.8%, at or above the 64% national average for four-year schools (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.