Lake Forest College
Lake Forest, Illinois · Private Nonprofit · 56.8% acceptance rate
ROI Score: 61/100 · Fair Value
Data: 2024-25 College Scorecard release
Lake Forest College scores 61 (Fair Value). The school delivers $41,100 average 6-year earnings at a net price of $28,673 and a 9.5-year payback. The 77.8% completion rate and 84.7% repayment rate are the school's strongest metrics, suggesting most students finish and can manage their debt. But median debt of $26,158 with a debt-to-earnings ratio of 0.636 is significant against those earnings. Finance is the only program producing earnings that clearly justify the cost.
Lake Forest College
Quick Numbers
| In-state tuition + fees | $56,402/yr |
| Out-of-state tuition + fees | $56,402/yr |
| Average net price | $28,673/yr |
| Total 4-year cost (net) | $114,692 |
| Median earnings (10yr post-entry) | $61,825 |
| Average earnings (6yr post-entry) | $41,100 |
| Median debt at graduation | $26,158 |
| Estimated monthly loan payment | $277 |
| Estimated payback period | 9.5 years |
| 6-year graduation rate | 77.8% |
| Undergraduate enrollment | 1,813 |
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: $56,402/year, which covers tuition and fees only. After grants, scholarships, and aid, the average student here pays a net price of $28,673/year, or roughly $114,692 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 $19,605/year here, while families earning over $110,000 pay $35,341/year.
Among graduates who borrowed, the median federal loan debt from this school is $26,158, which works out to about $277 a month on the standard 10-year repayment plan. Our debt-to-earnings ratio divides that debt by average earnings six years after entry ($41,100) and comes to 0.64, 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 | $19,605 |
| $30,001 - $48,000 | $20,210 |
| $48,001 - $75,000 | $21,481 |
| $75,001 - $110,000 | $26,055 |
| $110,001+ | $35,341 |
Cost by Income Bracket Explained
Lower-income families (under $30K)
Families under $30,000 pay $19,605 net per year - about $78,400 over four years. This is an expensive entry point for low-income families at $41,100 average earnings. Low-income students should target finance or business and maximize merit and need-based aid aggressively. The 77.8% completion rate means most enrolled students finish, which partially offsets the debt risk.
Middle-income families ($30K-$110K)
The $48,001-$75,000 bracket pays $21,481 net and the $75,001-$110,000 bracket pays $26,055 - a fairly tight range. Middle-income families face a 9-12 year payback at median earnings for most programs. Finance graduates escape this; humanities and social science graduates face longer timelines.
Higher-income families ($110K+)
Families earning $110,000+ pay $35,341 net per year - about $141,000 over four years. The full-pay ROI at Lake Forest is poor except for finance and possibly economics.
Earnings by Major
Top 10 most popular majors at Lake Forest College with available earnings data.
| Major | Median Earnings | Grade |
|---|---|---|
| Business Administration and Management | $74,632 | C |
| Finance and Financial Management | $98,583 | B |
| Biology | $48,287 | D |
| Economics | $53,529 | C+ |
| Romance Languages | $52,598 | D |
| Natural Resources Conservation | $26,998 | - |
| International Relations | $61,770 | D |
| English Language and Literature | $58,901 | D |
| Communication and Media Studies | $64,580 | C |
| Computer Science | $77,554 | 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.
Finance and Financial Management
Finance (31 graduates) earns $61,264 at year one and $98,583 at year four - Lake Forest's strongest program - with a debt-to-earnings ratio of 0.441 (ROI grade B) and $27,000 median debt. The four-year trajectory to nearly $100k reflects Chicago financial services market placement. Finance is the one program at Lake Forest where the cost structure is clearly defensible.
Economics
Economics (24 graduates) earns $53,529 at year one with a debt-to-earnings ratio of 0.504 (ROI grade C+) and $27,000 median debt. Four-year earnings data is unavailable. Near-term economics outcomes are workable but not exceptional.
Business Administration and Management
Business Administration (47 graduates) earns $44,283 at year one and $74,632 at year four with a debt-to-earnings ratio of 0.610 (ROI grade C) and $27,000 median debt. The four-year jump to $74k suggests career progression.
Biology
Biology (26 graduates) earns $33,380 at year one and $48,287 at year four with a debt-to-earnings ratio of 0.809 (ROI grade D) and $27,000 median debt. Biology at Lake Forest follows the same pattern as at most liberal arts colleges: low near-term wages, heavy graduate school pipeline. The year-four ceiling of $48k for bachelor's-level completers is poor for the debt load.
Natural Resources Conservation
Natural Resources Conservation (19 graduates) earns $26,998 at year one - no debt-to-earnings data reported. Entry-level environmental employment is the starting reality for most conservation graduates, regardless of institution.
How Graduates Do
Earnings
Loan Repayment
| Metric | This School | Median of schools we score |
|---|---|---|
| 1-year repayment | 80.7% | 68.8% |
| 3-year repayment | 84.7% | 73.6% |
| 5-year repayment | 82.4% | 67.7% |
| 7-year repayment | 88.0% | 72.8% |
Completion Rate
Trends Over Time
How Lake Forest 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 | 56.8% |
| SAT Math (25th-75th) | 590-680 |
| SAT Reading (25th-75th) | 600-713 |
| ACT Composite (25th-75th) | 28-32 |
| Enrollment | 1,813 |
| Pell Grant recipients | 32.2% |
| Avg faculty salary (monthly) | $9,044 |
A 56.8% acceptance rate with ACT 28-32 places Lake Forest in moderately selective territory. Merit aid is the primary lever for enrollment.
Compared to Similar Schools
Peer institutions matched by type, size, and selectivity.
| School | ROI | Net Price | 10yr Earnings |
|---|---|---|---|
| Lake Forest College (this school) | 61 | $28,673 | $61,825 |
| Augustana College | 67 | $22,736 | $62,971 |
| Lawrence Technological University | 65 | $32,918 | $69,151 |
| Moravian University | 59 | $30,670 | $61,860 |
| St. Francis College | 57 | $18,129 | $58,099 |
| School of the Art Institute of Chicago | 21 | $49,790 | $40,151 |
Who Thrives Here
Lake Forest admits 56.8% of applicants with SAT mid-ranges of 590-680 Math and 600-713 Reading, and ACT 28-32. The 32.2% Pell rate indicates meaningful economic diversity for a school at this price.
The Verdict: A Reasonable Bet - With Caveats
Lake Forest College is a fair-value bet, but how well it pays off depends a lot on you. At $28,673 a year after aid ($114,692 over four years), with the typical graduate earning $61,825 a decade out, the cost takes about 9.5 years to earn back. For context, the median payback across the schools we score is about 12 years.
What it has going for it: its 77.8% graduation rate, high loan repayment success. What to keep an eye on: a debt-to-earnings ratio of 0.64 (median across the schools we score: 0.61).
Median debt of $26,158 among graduates who borrowed, against average earnings of $41,100 six years after entry, gives a debt-to-earnings ratio of 0.64. 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.
Lake Forest College: Common Questions
Is Lake Forest College worth it?
In our view, it's a fair-value bet - whether Lake Forest College is worth it depends a lot on your major and aid package. It scores 61/100 on our ROI scale. At $28,673 a year after aid ($114,692 over four years) against $61,825 in typical earnings a decade out, the cost takes about 9.5 years to earn back. For context, the median payback across the schools we score is about 12 years.
How much does Lake Forest 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 $28,673 a year, or roughly $114,692 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 Lake Forest College graduates earn?
The typical graduate earns about $61,825 ten years after enrolling, roughly $20,025 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 Lake Forest 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 9.5 years for Lake Forest College. The median across the schools we track is about 12 years.
How much debt do Lake Forest College graduates take on?
Among graduates who borrowed, median federal loan debt from this school is about $26,158, against average earnings of $41,100 six years after entry - a debt-to-earnings ratio of 0.64. 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 Lake Forest College?
The six-year graduation rate is 77.8%, 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.