Manchester University
North Manchester, Indiana · Private Nonprofit · 71.1% acceptance rate
ROI Score: 40/100 · Poor Value
Manchester University earns a 40/100 ROI score and a Poor Value tier, but the picture is more nuanced than the headline suggests. Median earnings six years after entry are $33,800, climbing to $51,504 by year ten -- modest growth that reflects Indiana's regional wage levels. Net price is $18,805 against a $37,135 sticker, meaning institutional aid discounts about half off list -- meaningful aid generosity for a small private. Total four-year cost is $75,220, manageable. The implied payback period is 13 years. Median federal debt is $26,854, producing a 0.794 debt-to-earnings ratio (the school's weakest sub-score and biggest structural problem). Earnings premium of 21.9% over a high-school graduate is mid-pack. Completion is 46.1%, weak. The bright spot is repayment performance: 81% of borrowers are making progress at three years -- among the better records in our database -- which suggests Manchester graduates who do find work make good on their loans, but earnings remain too modest relative to debt loads. The honest read: Manchester is a small Brethren-affiliated liberal-arts college whose accounting and pre-pharmacy/health-prep tracks deliver workable outcomes, but the broader liberal-arts mix produces D-grade results that drag the aggregate. Pre-health and accounting students should consider Manchester favorably; broader humanities students should price-compare against Indiana's public regionals.
The data raises concerns about Manchester University
These metrics fall below the thresholds most financial advisors recommend for a sound college investment. Review them carefully before committing.
- ROI Score40/100 - Poor Value tier (below 45). Most 4-year schools we track score 60 or higher.
Manchester University
Quick Numbers
| In-state tuition + fees | $37,135/yr |
| Out-of-state tuition + fees | $37,135/yr |
| Average net price | $18,805/yr |
| Total 4-year cost (net) | $75,220 |
| Median earnings (10yr post-entry) | $51,504 |
| Median earnings (6yr post-entry) | $33,800 |
| Median debt at graduation | $26,854 |
| Estimated monthly loan payment | $285 |
| Estimated payback period | 13 years |
| 6-year graduation rate | 46.1% |
| Undergraduate enrollment | 936 |
Data as of 2024-2025. Source: College Scorecard API (U.S. Department of Education).
The Full Financial Picture
The sticker price at Manchester University is $37,135/year. But sticker price isn't what most students pay. After grants, scholarships, and financial aid, the average student pays a net price of $18,805/year, or roughly $75,220 over four years.
That net price varies significantly by family income. The lowest-income families (under $30,000/year) pay an average of $13,875/year, while families earning over $110,000 pay $26,151/year.
The median graduate leaves with $26,854 in federal loan debt, translating to an estimated monthly payment of $285 on a standard 10-year repayment plan. Against median earnings of $51,504 ten years out, the debt-to-earnings ratio is 0.79 - 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 | $13,875 |
| $30,001 - $48,000 | $16,109 |
| $48,001 - $75,000 | $16,607 |
| $75,001 - $110,000 | $21,075 |
| $110,001+ | $26,151 |
Cost by Income Bracket Explained
Lower-income families (under $30K)
Families earning under $30,000 pay $13,875 net price -- meaningfully discounted from the $18,805 average. Pell-eligible students layering the $7,395 federal grant face a roughly $6,500 annual gap, manageable with modest borrowing. Across four years, $55,500 net cost against $33,800 six-year earnings is workable for nursing/pharmacy-track students; weaker for liberal-arts paths.
Middle-income families ($30K-$110K)
Middle-income brackets pay $16,109 ($30K-$48K), $16,607 ($48K-$75K), and $21,075 ($75K-$110K). Aid scales reasonably across the lower middle, with a sharper jump at the $75K threshold. The $48K-$75K bracket is the sweet spot for value here; that family pays $66,428 four-year net for the small-college experience.
Higher-income families ($110K+)
Households above $110,000 pay $26,151 -- a $10,984 institutional discount off sticker, mostly merit. Over four years that's $104,604 net. Given $51,504 ten-year median earnings the math is hard to defend on financial grounds for high-income families unless the student is in pre-pharmacy/pre-health where graduate-program outcomes upgrade the case substantially.
Earnings by Major
Top 8 most popular majors at Manchester University with available earnings data.
| Major | Median Earnings | Grade |
|---|---|---|
| Kinesiology and Exercise Science | $52,218 | D |
| Health/Medical Preparatory Programs | $64,722 | B |
| Business Administration, Management, and Operations | $63,644 | C |
| Accounting | $75,295 | C+ |
| Natural Resources Conservation | $47,391 | - |
| Teacher Education | $45,088 | - |
| Marketing | $63,919 | C |
| Finance and Financial Management | $42,805 | - |
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.
Health/Medical Preparatory Programs
Health prep is Manchester's signature program -- a feeder for the school's own Doctor of Pharmacy program. Graduates earn $64,722 four years out (1-year not reported, likely because most are still in graduate study). Median debt is $24,250 with a 0.375 debt-to-earnings ratio (B grade). With 23 graduates, this is a meaningful cohort. The pre-pharmacy pipeline is the strongest reason to consider Manchester.
Accounting
Accounting graduates earn $57,456 one year out and $75,295 four years out, against $27,000 median debt and a 0.47 debt-to-earnings ratio (C+ grade). With 10 graduates per cohort the program is small but produces strong individual outcomes. For accounting-track students with CPA aspirations, Manchester is a defensible choice.
Business Administration, Management, and Operations
Business administration graduates earn $39,185 one year out and $63,644 four years out, with $27,000 median debt and a 0.689 debt-to-earnings ratio (C grade). 18 graduates per cohort. Mid-career earnings are reasonable, but the year-one figure is weak. Workable for students committed to the program; comparable Indiana public alternatives may be cheaper.
Kinesiology and Exercise Science
Kinesiology graduates earn $29,936 one year out and $52,218 four years out, with $25,500 median debt and a 0.852 debt-to-earnings ratio (D grade). 30 graduates makes this Manchester's largest tracked program by volume. As a terminal bachelor's the financial outcomes are weak; many students intend grad-school in PT/OT/PA tracks where the math improves substantially after the next credential.
Marketing
Marketing graduates earn $37,351 one year out and $63,919 four years out, with $25,250 median debt and a 0.676 debt-to-earnings ratio (C grade). Only 7 graduates per cohort -- a small, somewhat self-selected sample. Mid-career outcomes are decent and suggest the program connects students with reasonable employment, though the year-one figure highlights early-career challenges typical of small-school marketing programs.
How Graduates Do
Earnings
Loan Repayment
| Metric | This School | Nat'l Avg |
|---|---|---|
| 1-year repayment | 76.9% | 52.0% |
| 3-year repayment | 81.1% | 62.0% |
| 5-year repayment | 72.4% | 68.0% |
| 7-year repayment | 75.7% | 72.0% |
Completion Rate
Admissions Snapshot
| Acceptance rate | 71.1% |
| Enrollment | 936 |
| Pell Grant recipients | 44.7% |
| Avg faculty salary (monthly) | $8,154 |
Manchester admits 71% of applicants. SAT and ACT mid-ranges are not reported in current Scorecard data, consistent with test-optional admissions and small reporting samples. The 71% admit rate combined with 46.1% completion suggests retention challenges typical of small access-mission privates -- the school admits broadly, but a meaningful share of admitted students depart before graduating. Prepared, motivated students complete at materially higher rates.
Compared to Similar Schools
Peer institutions matched by type, size, and selectivity.
Manchester's peer set includes Anderson University IN, Bethel University IN, Hastings College, Geneva College, and Peirce College -- all small regional faith-affiliated or specialty privates. Within that group Manchester's 40 ROI is mid-pack: comparable to Anderson IN and Bethel IN, both of which serve similar Indiana student populations with similar program mixes. Geneva College in Pennsylvania posts somewhat better aggregate outcomes via stronger nursing presence. Peirce College is a different beast -- an adult-focused career school -- and isn't directly comparable.
| School | ROI | Net Price | 10yr Earnings |
|---|---|---|---|
| Manchester University (this school) | 40 | $18,805 | $51,504 |
| Geneva College | 38 | $25,890 | $50,004 |
| Peirce College | 38 | $12,148 | $50,660 |
| Hastings College | 37 | $24,452 | $51,303 |
| Bethel University | 34 | $18,610 | $48,860 |
| Anderson University | 32 | $25,021 | $48,899 |
Who Thrives Here
Manchester enrolls 936 students with a 44.7% Pell rate -- a notably access-mission profile, meaningfully serving low-to-moderate income students. The fit profile is clearest for pre-pharmacy/pre-health students (Manchester has a well-regarded Doctor of Pharmacy program that recruits from its own undergraduates), accounting students, and those drawn to its Church of the Brethren peace-and-conscience identity. Students who would otherwise pursue generic liberal-arts degrees should weigh whether Indiana publics like Indiana State or Ball State would deliver comparable training at lower net cost.
The Verdict: The Numbers Don't Add Up
The financial data raises serious concerns about Manchester University. With a net cost of $18,805 per year and median graduate earnings of only $51,504 ten years out, the estimated payback period exceeds 13 years. For most students, the financial return does not justify the cost.
Areas of concern include a 46.1% graduation rate and high debt relative to what graduates earn and a long payback period.
Median debt of $26,854 against $51,504 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.