Grace College and Theological Seminary
Winona Lake, Indiana · Private Nonprofit · 82.2% acceptance rate
ROI Score: 44/100 · Below Benchmark
Data: 2024-25 College Scorecard release
Grace College and Theological Seminary, a small private Christian institution in Winona Lake, Indiana, posts an ROI score of 44 out of 100 and lands in the Below Benchmark tier. The headline numbers explain why: median 10-year earnings of $45,411 sit barely above a high-school baseline, the modeled payback period stretches to 21.1 years, and debt-to-earnings runs 0.60 - meaning typical median debt of $19,500 swallows roughly 60 cents of every earnings-premium dollar. The school does have real strengths underneath that tier label. Sticker tuition is $31,200, but average net price falls to $19,932 after aid, and low-income families pay closer to $11,000. The fundamental problem is the earnings ceiling. Grace's program mix leans heavily toward education, ministry, psychology, and human services - fields with strong mission fit but compressed pay. Two business and accounting tracks earn B+ ROI grades, but they are dwarfed by lower-paying majors. For students who are clear-eyed about choosing a faith-aligned campus and a teaching, ministry, or service career, the value math can pencil; for students primarily chasing earnings ROI, this is not the place.
How Grace College and Theological Seminary 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 Score44/100 - Below Benchmark tier of our scale (below 45). For context, 38% of the schools we score reach 60 or higher.
- Payback period21.1 years - The median payback across the schools we score is about 12 years.
Grace College and Theological Seminary
Quick Numbers
| In-state tuition + fees | $31,200/yr |
| Out-of-state tuition + fees | $31,200/yr |
| Average net price | $19,932/yr |
| Total 4-year cost (net) | $79,728 |
| Median earnings (10yr post-entry) | $45,411 |
| Average earnings (6yr post-entry) | $32,500 |
| Median debt at graduation | $19,500 |
| Estimated monthly loan payment | $207 |
| Estimated payback period | 21.1 years |
| 6-year graduation rate | 68.8% |
| Undergraduate enrollment | 1,464 |
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: $31,200/year, which covers tuition and fees only. After grants, scholarships, and aid, the average student here pays a net price of $19,932/year, or roughly $79,728 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 $10,998/year here, while families earning over $110,000 pay $26,884/year.
Among graduates who borrowed, the median federal loan debt from this school is $19,500, which works out to about $207 a month on the standard 10-year repayment plan. Our debt-to-earnings ratio divides that debt by average earnings six years after entry ($32,500) and comes to 0.60, 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 | $10,998 |
| $30,001 - $48,000 | $12,459 |
| $48,001 - $75,000 | $17,103 |
| $75,001 - $110,000 | $22,963 |
| $110,001+ | $26,884 |
Cost by Income Bracket Explained
Lower-income families (under $30K)
Families earning under $30,000 pay a net price of $10,998 - about 35% of sticker. That is genuinely modest, and Pell plus institutional aid carries most of the load. Even so, the math has to be paired with a major that earns above $40,000 within a few years for the four-year total of roughly $44,000 to pencil. A Pell-eligible student majoring in business or accounting can clear a positive ROI; a ministry or psychology major likely cannot.
Middle-income families ($30K-$110K)
The $48,001-$75,000 bracket pays $17,103 net - the steepest middle-income jump in the schedule. Four years runs to about $68,000 before any borrowing. Combined with median 10-year earnings of $45,411, that produces the 21-year payback and 0.60 debt-to-earnings ratio that drag the school's ROI score down.
Higher-income families ($110K+)
Families above $110,000 pay $26,884 net annually - close to a six-figure four-year price tag at roughly $107,500 before borrowing. With median 10-year earnings under $46,000, the implied lifetime ROI is weak unless the student lands in the engineering physics, business, or accounting tracks. For high-income families, Grace is a values-based choice, not a financial one.
Earnings by Major
Top 10 most popular majors at Grace College and Theological Seminary with available earnings data.
| Major | Median Earnings | Grade |
|---|---|---|
| Psychology | $44,424 | D |
| Business Administration, Management, and Operations | $66,597 | B+ |
| Kinesiology and Exercise Science | $42,123 | D |
| Teacher Education | $48,406 | B |
| Pastoral Counseling and Specialized Ministries | $44,733 | F |
| Design and Applied Arts | $51,338 | - |
| Accounting | $65,541 | B+ |
| Marketing | $54,734 | C+ |
| Clinical Psychology | $39,291 | C+ |
| Human Services, General | $40,727 | 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.
Business Administration, Management, and Operations
Business is Grace's strongest earnings track and the program where the value math actually pencils. With 30 graduates, $62,251 first-year median earnings, and $66,597 by year four, business majors clear typical net price within a reasonable horizon. Median debt of $20,104 against those earnings yields a 0.32 debt-to-earnings ratio and a B+ ROI grade - well above the school average. This is the program prospective students should weigh most heavily when evaluating Grace.
Accounting
Accounting graduates (13 per year) earn $55,997 first-year and $65,541 at four years, with median debt of $19,500 producing a 0.35 debt-to-earnings ratio and a B+ ROI grade. The CPA pathway adds a clear professional licensure ladder that can lift mid-career earnings further. Small cohort, but the math is sound and the field is durable - one of two majors at Grace where the school clearly delivers ROI.
Psychology
Psychology is Grace's largest cohort at 34 graduates but one of the weakest earnings tracks. First-year earnings are $27,357 and four-year earnings reach only $44,424, while median debt of $22,009 pushes debt-to-earnings to 0.81 - a D ROI grade. Psychology only earns its keep with graduate school, and prospective students should plan for that path or accept that the bachelor's-only outcomes here do not justify the cost.
Kinesiology and Exercise Science
Kinesiology graduates 29 students per year but posts a D ROI grade. First-year earnings of $32,549 and four-year earnings of $42,123 are paired with median debt of $23,250, producing a 0.71 debt-to-earnings ratio. As with psychology, this major typically requires DPT, OT, athletic-training, or other graduate credentials to convert into competitive earnings. Undergraduates here should plan for that step or rethink the major.
Pastoral Counseling and Specialized Ministries
Pastoral counseling graduates 20 students per year and posts the school's only F ROI grade. First-year earnings are $25,060 and median debt of $25,500 produces a debt-to-earnings ratio above 1.0 - meaning debt exceeds annual earnings, which is the textbook definition of an unaffordable borrowing burden. The mission case for this major is real, but students entering the field should minimize debt aggressively or pursue denominational support.
How Graduates Do
Earnings
Loan Repayment
| Metric | This School | Median of schools we score |
|---|---|---|
| 1-year repayment | 79.1% | 68.8% |
| 3-year repayment | 84.7% | 73.6% |
| 5-year repayment | 85.1% | 67.7% |
| 7-year repayment | 89.3% | 72.8% |
Completion Rate
Trends Over Time
How Grace College and Theological Seminary’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 | 82.2% |
| SAT Math (25th-75th) | 490-590 |
| SAT Reading (25th-75th) | 510-610 |
| ACT Composite (25th-75th) | 21-27 |
| Enrollment | 1,464 |
| Pell Grant recipients | 29.1% |
| Avg faculty salary (monthly) | $7,538 |
Grace admits 82.2% of applicants, putting it in the broadly accessible band where mission fit and basic college preparation matter more than test scores. SAT mid-range runs 490-590 math and 510-610 reading; ACT spans 21-27. Those scores read as solidly average, and the school's 68.8% completion rate suggests admitted students who matriculate generally finish - the admissions funnel is not letting in unprepared students en masse.
Compared to Similar Schools
Peer institutions matched by type, size, and selectivity.
Grace's repayment rate is 85% and its payback is 21 years.
| School | ROI | Net Price | 10yr Earnings |
|---|---|---|---|
| Grace College and Theological Seminary (this school) | 44 | $19,932 | $45,411 |
| Neumann University | 44 | $27,804 | $57,817 |
| Mount Vernon Nazarene University | 42 | $22,421 | $49,555 |
| Seton Hill University | 42 | $22,204 | $51,748 |
| Bethel University | 34 | $18,610 | $48,860 |
| Anderson University | 32 | $25,021 | $48,899 |
Who Thrives Here
Grace fits a narrow but real profile: students drawn to a Christ-centered campus culture in a small-town Indiana setting, with enrollment of 1,464 keeping classes intimate. The 29% Pell rate signals meaningful socioeconomic diversity, and need-based aid does compress net price for lower-income families. Students who plan to enter teaching, accounting, business, or ministry - and who are willing to keep undergraduate debt close to or below the $19,500 median - can make this work.
The Verdict: Below Benchmark Under Our Scoring
Under our methodology, Grace College and Theological Seminary scores 44/100, which falls in the Below Benchmark tier (below 45). At a net price of $19,932 per year, with typical graduate earnings of $45,411 ten years after entry, we estimate the payback period at about 21.1 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 68.8% graduation rate, high loan repayment success. What to keep an eye on: weak earnings relative to cost, a long payback period.
Median debt of $19,500 among graduates who borrowed, against average earnings of $32,500 six years after entry, gives a debt-to-earnings ratio of 0.60, under the 1.0 point at which debt would equal a full year of those earnings. Your major matters a lot here: graduates in higher-earning fields will see the better end of this.
Grace College and Theological Seminary: Common Questions
Is Grace College and Theological Seminary worth it?
In our view, the financial case is a hard one to make on the numbers alone. Grace College and Theological Seminary scores 44/100 on our ROI scale, in the Below Benchmark tier (below 45). At $19,932 a year after aid against $45,411 in typical earnings ten years out, we estimate the payback period at about 21.1 years. Your major and aid package can change the picture, so run your own numbers.
How much does Grace College and Theological Seminary 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 $19,932 a year, or roughly $79,728 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 Grace College and Theological Seminary graduates earn?
The typical graduate earns about $45,411 ten years after enrolling, roughly $3,611 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 Grace College and Theological Seminary?
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 21.1 years for Grace College and Theological Seminary. The median across the schools we track is about 12 years.
How much debt do Grace College and Theological Seminary graduates take on?
Among graduates who borrowed, median federal loan debt from this school is about $19,500, against average earnings of $32,500 six years after entry - a debt-to-earnings ratio of 0.60. In our view that is reasonable, though your major matters: higher-earning fields will see the better end of it.
What is the graduation rate at Grace College and Theological Seminary?
The six-year graduation rate is 68.8%, 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.