Macalester College
Saint Paul, Minnesota · Private Nonprofit · 28.5% acceptance rate
ROI Score: 64/100 · Fair Value
Macalester College, an elite private liberal arts college in Saint Paul, Minnesota, scores 64 on overall ROI (Fair Value tier). The score reflects a familiar elite-private pattern: extraordinary completion (87%) and repayment outcomes (91% three-year repayment rate -- among the highest in our database) coexist with high sticker tuition that depresses the cost-side metrics in standard ROI scoring. Tuition is $68,104 -- one of the highest in our database -- but Macalester's substantial endowment funds aggressive need-based aid, bringing average net price to $32,149 (~$128,596 over four years). Median earnings six years out are $36,900 -- modest because Macalester graduates concentrate heavily in graduate school, nonprofit, and international careers that delay early earnings -- climbing to $63,878 by year ten as graduates emerge from MA, JD, MD, and PhD programs. The 9.3-year payback period is solidly under benchmark. Median debt of $23,000 is reasonable for an elite private. The 0.62 debt-to-earnings ratio reflects the early-career under-earnings pattern. Macalester's STEM and economics programs post elite ROI grades; international-studies majors face front-loaded financial challenges that resolve mid-career. This is a defensible value pick for high-aid-eligible students.
Macalester College
Quick Numbers
| In-state tuition + fees | $68,104/yr |
| Out-of-state tuition + fees | $68,104/yr |
| Average net price | $32,149/yr |
| Total 4-year cost (net) | $128,596 |
| Median earnings (10yr post-entry) | $63,878 |
| Median earnings (6yr post-entry) | $36,900 |
| Median debt at graduation | $23,000 |
| Estimated monthly loan payment | $244 |
| Estimated payback period | 9.3 years |
| 6-year graduation rate | 87.1% |
| Undergraduate enrollment | 2,131 |
Data as of 2024-2025. Source: College Scorecard API (U.S. Department of Education).
The Full Financial Picture
The sticker price at Macalester College is $68,104/year. But sticker price isn't what most students pay. After grants, scholarships, and financial aid, the average student pays a net price of $32,149/year, or roughly $128,596 over four years.
That net price varies significantly by family income. The lowest-income families (under $30,000/year) pay an average of $13,772/year, while families earning over $110,000 pay $44,880/year.
The median graduate leaves with $23,000 in federal loan debt, translating to an estimated monthly payment of $244 on a standard 10-year repayment plan. Against median earnings of $63,878 ten years out, the debt-to-earnings ratio is 0.62 - 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 | $13,772 |
| $30,001 - $48,000 | $11,982 |
| $48,001 - $75,000 | $11,098 |
| $75,001 - $110,000 | $20,527 |
| $110,001+ | $44,880 |
Cost by Income Bracket Explained
Lower-income families (under $30K)
Families under $30,000 pay $13,772 net, and the $30,001-$48,000 bracket pays $11,982, $48,001-$75,000 pays $11,098 -- the cheapest bracket. With Macalester's robust need-based aid, four-year cost runs about $44,000-$55,000 for the lowest three income brackets. Combined with the elite outcomes, this is genuinely strong value for low-and-middle-income high-achieving students -- one of the best deals in elite higher ed at this preparation level.
Middle-income families ($30K-$110K)
The $48,001-$75,000 bracket is the cheapest at $11,098 -- a notable bracket inversion where this middle band pays less than both lower-income tiers. The $75,001-$110,000 bracket pays $20,527. Across the middle-and-upper-middle range, four-year cost is $44,000-$82,000. Strong value across the income spectrum given completion and earnings outcomes.
Higher-income families ($110K+)
Families above $110,001 pay $44,880 -- effectively full-pay at $179,520 over four years, the steep figure that drags Macalester's headline ROI score. At this price, the calculation depends on graduate-school plans: students heading to medical, law, or PhD programs see strong long-term outcomes. Full-pay families targeting only a bachelor's degree should compare against Carleton or strong publics like UMN-Twin Cities.
Earnings by Major
Top 10 most popular majors at Macalester College with available earnings data.
| Major | Median Earnings | Grade |
|---|---|---|
| Computer and Information Sciences | $109,457 | B+ |
| Mathematics | $91,979 | B |
| Economics | $85,593 | B |
| Biology | $56,141 | C |
| International Relations | $58,555 | C |
| Research and Experimental Psychology | $38,027 | C |
| Neurobiology and Neurosciences | $45,450 | C+ |
| Natural Resources Conservation | $45,632 | C |
| International/Globalization Studies | $56,091 | F |
| Rhetoric and Composition/Writing Studies | $29,487 | 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.
Computer and Information Sciences
Computer Science is Macalester's flagship by ROI: $81,964 first-year and an exceptional $109,457 four-year median earnings against just $20,829 median debt produce a 0.25 debt-to-earnings ratio and a B+ ROI grade. 72 graduates per cohort -- the largest program. Twin Cities tech employers, Silicon Valley, and graduate CS programs absorb the pipeline. Among the strongest small-college CS ROIs nationally.
Economics
Economics earns B ROI: $59,752 first-year and $85,593 four-year median earnings against $24,000 median debt produce a 0.40 debt-to-earnings ratio. 61 graduates per cohort feed finance, consulting, and graduate economics PhD programs. Strong ROI for an elite small-college economics program.
Mathematics
Mathematics earns B ROI: $57,166 first-year and $91,979 four-year median earnings against $22,483 median debt produce a 0.39 debt-to-earnings ratio. 63 graduates per cohort feed actuarial, finance, data science, and graduate math/statistics programs. Excellent value for a quantitative liberal arts pipeline.
Neurobiology and Neurosciences
Neuroscience earns C+ ROI: $45,450 first-year median earnings against $24,177 median debt produce a 0.53 debt-to-earnings ratio. 35 graduates per cohort. Like most undergrad neuroscience programs, the bachelor's-only earnings curve is bounded -- the real ROI emerges after MD, PhD, or PsyD pathways. Solid pre-med/pre-PhD pipeline.
International/Globalization Studies
International/Globalization Studies posts an F ROI grade: $21,176 first-year earnings against $23,324 median debt produce a 1.10 debt-to-earnings ratio -- graduates owe more in debt than they earn early. 28 graduates per cohort. The four-year median climbs to $56,091 (a 165% increase), suggesting graduates pursue MA, JD, or international development paths that monetize the credential mid-career. Patience and grad school are required.
How Graduates Do
Earnings
Loan Repayment
| Metric | This School | Nat'l Avg |
|---|---|---|
| 1-year repayment | 87.7% | 52.0% |
| 3-year repayment | 90.7% | 62.0% |
| 5-year repayment | 89.9% | 68.0% |
| 7-year repayment | 93.1% | 72.0% |
Completion Rate
Admissions Snapshot
| Acceptance rate | 28.5% |
| SAT Math (25th-75th) | 670-760 |
| SAT Reading (25th-75th) | 680-750 |
| ACT Composite (25th-75th) | 30-34 |
| Enrollment | 2,131 |
| Pell Grant recipients | 17.2% |
| Avg faculty salary (monthly) | $11,951 |
Macalester admits 29% of applicants -- selectivity firmly in the elite tier. SAT mid-ranges of 670-760 Math and 680-750 Reading, plus ACT 30-34, place enrolled students at the top decile nationally. The 87% completion rate is consistent with that academic preparation profile and is a major driver of the school's ROI score. Selectivity-to-completion correlation here is intact and exceptional.
Compared to Similar Schools
Peer institutions matched by type, size, and selectivity.
Peer set is mixed but useful. Mount Holyoke College is the strongest functional peer -- another elite Seven Sisters liberal arts college with comparable selectivity, completion, and financial profile. Augsburg University is a much-less-selective Twin Cities private. Bethany Lutheran College is a small Christian college. AdventHealth University and St. Francis College are mission-distinct outliers. Macalester sits well above its scattered peer set on most metrics. The relevant national peer cluster is Carleton, Grinnell, Oberlin, Reed, Vassar, and Mount Holyoke -- all comparable elite small liberal arts colleges with similar economic profiles.
| School | ROI | Net Price | 10yr Earnings |
|---|---|---|---|
| Macalester College (this school) | 64 | $32,149 | $63,878 |
| AdventHealth University | 63 | $30,135 | $72,282 |
| Mount Holyoke College | 60 | $26,441 | $58,418 |
| St. Francis College | 57 | $18,129 | $58,099 |
| Augsburg University | 53 | $23,873 | $58,829 |
| Bethany Lutheran College | 35 | $20,148 | $46,110 |
Who Thrives Here
With 2,131 students and a 17% Pell rate, Macalester serves a high-achieving, internationally-oriented student population concentrated in upper-middle-income and high-income families. The fit profile: students who thrive in a small, intellectually-intense liberal arts community, who plan graduate school in significant numbers (medicine, law, PhD programs, international affairs), and who can stack the school's robust need-based aid into manageable net prices. Strongest tracks: Computer Science (B+ ROI, 72 graduates -- the largest), Economics (B, 61), Mathematics (B, 63), Biology (C, 49). International-focused majors run heavier early-career risk.
The Verdict: A Reasonable Bet - With Caveats
Macalester College offers fair financial value, though the ROI depends heavily on individual circumstances. The net cost of $32,149 per year leads to $128,596 over four years, while graduates earn a median of $63,878 a decade out. The payback period of 9.3 years is about average - not bad, but not a standout either.
The data highlights several strengths: a 87.1% graduation rate, high loan repayment success.
Median debt of $23,000 against $63,878 in earnings is reasonable, though major choice matters significantly. Students in higher-earning programs will see better returns.
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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.