Illinois College
Jacksonville, Illinois · Private Nonprofit · 78.2% acceptance rate
ROI Score: 50/100 · Below Average Value
Illinois College earns a Below Average Value tier with an ROI score of 50 out of 100, sitting just at the midpoint where the math gets uncomfortable. The Jacksonville, Illinois liberal arts school posts a sticker tuition of $38,676 with a net price of $18,298 after aid, putting four-year cost-of-attendance estimates near $73,192. Where things hold up: the 63.8% completion rate is solid for a regional private school, and the 83.5% three-year repayment rate shows graduates are at least servicing their loans. The drag on the score is debt-to-earnings: a 0.745 ratio, where median debt of $25,565 lands against median 6-year earnings of just $34,300. That payback period stretches to 12.1 years before the degree breaks even on its cost. Ten-year median earnings climb to $52,575, which is a meaningful improvement, but it suggests the early-career trough is real. Students choosing IC are choosing a small-college experience and need to weigh that against the slow earnings ramp, particularly outside the business and finance majors.
Illinois College
Quick Numbers
| In-state tuition + fees | $38,676/yr |
| Out-of-state tuition + fees | $38,676/yr |
| Average net price | $18,298/yr |
| Total 4-year cost (net) | $73,192 |
| Median earnings (10yr post-entry) | $52,575 |
| Median earnings (6yr post-entry) | $34,300 |
| Median debt at graduation | $25,565 |
| Estimated monthly loan payment | $271 |
| Estimated payback period | 12.1 years |
| 6-year graduation rate | 63.8% |
| Undergraduate enrollment | 930 |
Data as of 2024-2025. Source: College Scorecard API (U.S. Department of Education).
The Full Financial Picture
The sticker price at Illinois College is $38,676/year. But sticker price isn't what most students pay. After grants, scholarships, and financial aid, the average student pays a net price of $18,298/year, or roughly $73,192 over four years.
That net price varies significantly by family income. The lowest-income families (under $30,000/year) pay an average of $12,487/year, while families earning over $110,000 pay $25,788/year.
The median graduate leaves with $25,565 in federal loan debt, translating to an estimated monthly payment of $271 on a standard 10-year repayment plan. Against median earnings of $52,575 ten years out, the debt-to-earnings ratio is 0.74 - 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 | $12,487 |
| $30,001 - $48,000 | $10,910 |
| $48,001 - $75,000 | $12,569 |
| $75,001 - $110,000 | $16,826 |
| $110,001+ | $25,788 |
Cost by Income Bracket Explained
Lower-income families (under $30K)
Families earning $0-30K pay $12,487 net annually, while the $30,001-48,000 bracket pays slightly less at $10,910. That four-year cost lands near $44K-$50K, manageable but still significant on a $34,300 early-career income. Pell-eligible students are a meaningful share of campus, but the post-graduation math depends heavily on major selection.
Middle-income families ($30K-$110K)
Middle-income families ($48,001-110,000) face a steep climb: net price rises from $12,569 in the lower band to $16,826 in the upper, putting four-year totals at $50K-$67K. Against $34,300 6-year earnings, this bracket carries the highest practical risk because aid drops off but earnings outcomes don't differentiate.
Higher-income families ($110K+)
Families above $110K pay $25,788 net per year, or roughly $103K over four years. At that price point IC competes directly with stronger-ROI private and flagship public options, and the 12.1-year payback period becomes hard to justify unless the student is committed to finance or accounting where outcomes are materially better.
Earnings by Major
Top 6 most popular majors at Illinois College with available earnings data.
| Major | Median Earnings | Grade |
|---|---|---|
| Psychology | $45,388 | D |
| Business Administration, Management, and Operations | $57,739 | D |
| Accounting | $67,982 | C+ |
| Biology | $51,626 | D |
| Rhetoric and Composition/Writing Studies | $45,716 | - |
| Finance and Financial Management | $74,757 | 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.
Accounting
Accounting graduates (19 per year) earn a median $50,017 first year and $67,982 by year four, against $27,000 median debt. That 0.54 debt-to-earnings ratio earns a C+ ROI grade and is one of IC's strongest payback stories. The CPA pipeline and predictable demand in regional accounting firms drive consistent outcomes, making this the most defensible major choice at IC for cost-conscious students.
Finance and Financial Management
Finance graduates earn the highest first-year median on campus at $55,155, climbing to $74,757 by year four. With $27,000 median debt and a 0.49 debt-to-earnings ratio, this program carries a C+ ROI grade and the strongest payback math at IC. Graduate volume is small (12 per year), suggesting limited program scale but solid placement into regional banks, insurance, and corporate finance roles.
Business Administration, Management, and Operations
Business administration is IC's largest cohort at 21 graduates yearly but the outcomes lag the more specialized business programs. First-year median earnings of $37,925 climb to $57,739 by year four, with $27,000 median debt producing a 0.712 debt-to-earnings ratio and a D ROI grade. Students considering this generalist track should weigh accounting or finance instead given the materially better payback math at the same school.
Psychology
Psychology is IC's largest major at 26 graduates per year but the ROI math is rough at the bachelor's level. First-year earnings of $31,386 against $27,000 median debt produce a 0.86 debt-to-earnings ratio and a D ROI grade. Earnings climb to $45,388 by year four but the early-career squeeze is real. Students serious about psychology likely need graduate school for licensed clinical or counseling work, which compounds the debt picture.
Biology
Biology graduates (18 per year) face the same early-career squeeze: $31,438 first-year median earnings against $26,533 debt produces a 0.844 ratio and D ROI grade. Year-four earnings of $51,626 show recovery, but this major's outcomes are heavily contingent on graduate or professional school admission. Pre-health students should evaluate IC's medical school placement record before committing.
How Graduates Do
Earnings
Loan Repayment
| Metric | This School | Nat'l Avg |
|---|---|---|
| 1-year repayment | 76.6% | 52.0% |
| 3-year repayment | 83.5% | 62.0% |
| 5-year repayment | 84.0% | 68.0% |
| 7-year repayment | 87.0% | 72.0% |
Completion Rate
Admissions Snapshot
| Acceptance rate | 78.2% |
| SAT Math (25th-75th) | 433-590 |
| SAT Reading (25th-75th) | 450-590 |
| ACT Composite (25th-75th) | 19-26 |
| Enrollment | 930 |
| Pell Grant recipients | 38.4% |
| Avg faculty salary (monthly) | $7,671 |
Illinois College admits 78.2% of applicants, putting it solidly in the moderately selective tier where most prepared applicants get in. The middle 50% SAT range runs 433-590 in math and 450-590 in reading, with an ACT range of 19-26. Those bands are wide, signaling a broad academic mix on campus. The 63.8% completion rate is reasonable but not exceptional and roughly tracks what selectivity at this level typically produces.
Compared to Similar Schools
Peer institutions matched by type, size, and selectivity.
Among IC's peer set, Augustana College tends to outperform on earnings and completion as a more selective Illinois liberal arts option, while Wisconsin Lutheran College and University of Saint Joseph land in similar mid-tier ROI territory. The School of the Art Institute of Chicago is a peer mostly by enrollment scale, not curriculum, and skews toward arts-specific outcomes. Heritage University runs a different demographic profile but lands in similar value territory. IC's score of 50 puts it near the middle of this group, with Augustana the standout above and the rest clustered close.
| School | ROI | Net Price | 10yr Earnings |
|---|---|---|---|
| Illinois College (this school) | 50 | $18,298 | $52,575 |
| Augustana College | 67 | $22,736 | $62,971 |
| University of Saint Joseph | 52 | $27,989 | $59,908 |
| Heritage University | 51 | $14,598 | $49,416 |
| Wisconsin Lutheran College | 50 | $23,245 | $54,664 |
| School of the Art Institute of Chicago | 21 | $49,790 | $40,151 |
Who Thrives Here
Illinois College fits students who want a small-campus liberal arts environment in the rural Midwest, with 930 students total and a 38.4% Pell grant rate indicating meaningful access for lower-income families. The 63.8% completion rate is a positive signal that the school supports students through to graduation. Strongest outcomes appear in finance and accounting, where graduates land at $55K and $50K first-year respectively. Students drawn to humanities or psychology should run the numbers carefully given debt-to-earnings ratios above 0.84 in those programs.
The Verdict: Proceed With Caution
The financial case for Illinois College is mixed. At $18,298 per year net cost, graduates earn a median of $52,575 ten years after entry - a payback period of 12.1 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.
Key strengths include high loan repayment success. However, the data also shows high debt relative to what graduates earn.
Median debt of $25,565 against $52,575 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.