Martin Luther College
New Ulm, Minnesota · Private Nonprofit · 87.2% acceptance rate
ROI Score: 46/100 · Below Average Value
Data: 2024-25 College Scorecard release
Martin Luther College scores 46 (Below Average Value) on the CampusROI scale. The institution is the seminary college of the Wisconsin Evangelical Lutheran Synod (WELS), located in New Ulm, Minnesota. Its mission is to train Lutheran teachers and pastors - not as a general-purpose undergraduate institution. Understanding this mission context matters for reading the data honestly. Average 6-year earnings of $29,300 and a 17.1-year payback period are weak by standard ROI metrics. The Theological and Ministerial Studies program posts an F-grade ROI (debt-to-earnings 1.236, year-one earnings of $15,327). Teacher Education posts a C+ (debt-to-earnings 0.460, $46,706 year-one). The institution's repayment rate of 95.2% at year 3 suggests graduates are very successfully managing their debt. This is notable given low earnings and likely reflects the tight community and financial support structures of WELS. The completion rate of 71.5% is solid. Tuition of $18,120 and net price of $18,463 are nearly identical - meaning aid is minimal and most students pay close to sticker. Enrollment is 725 students.
How Martin Luther College 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.
- Payback period17.1 years - The median payback across the schools we score is about 12 years.
Martin Luther College
Quick Numbers
| In-state tuition + fees | $18,120/yr |
| Out-of-state tuition + fees | $18,120/yr |
| Average net price | $18,463/yr |
| Total 4-year cost (net) | $73,852 |
| Median earnings (10yr post-entry) | $47,491 |
| Average earnings (6yr post-entry) | $29,300 |
| Median debt at graduation | $20,177 |
| Estimated monthly loan payment | $214 |
| Estimated payback period | 17.1 years |
| 6-year graduation rate | 71.5% |
| Undergraduate enrollment | 725 |
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: $18,120/year, which covers tuition and fees only. The net price counts books, supplies, and average living costs on top of tuition and fees, then subtracts grants and scholarships. For the average student here it comes to $18,463/year, or roughly $73,852 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 $11,233/year here, while families earning over $110,000 pay $22,952/year.
Among graduates who borrowed, the median federal loan debt from this school is $20,177, which works out to about $214 a month on the standard 10-year repayment plan. Our debt-to-earnings ratio divides that debt by average earnings six years after entry ($29,300) and comes to 0.69, 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 | $11,233 |
| $30,001 - $48,000 | $11,749 |
| $48,001 - $75,000 | $12,811 |
| $75,001 - $110,000 | $18,241 |
| $110,001+ | $22,952 |
Cost by Income Bracket Explained
Lower-income families (under $30K)
Students in the 0-30000 bracket pay $11,233 per year. At $44,932 over four years against $29,300 average earnings, the raw payback math is weak. For students committed to Lutheran ministry or teaching, the career placement certainty and community support partially offset the low earnings floor. Non-ministry students should not enroll here for financial reasons.
Middle-income families ($30K-$110K)
The 48001-75000 bracket pays $12,811 per year - $51,244 over four years. Similar dynamics apply: the institutional purpose is vocational preparation for a defined ministry career, not general economic advancement. The 95.2% repayment rate at year 3 suggests graduates in this bracket manage debt effectively despite low earnings.
Higher-income families ($110K+)
Families earning $110,001+ pay $22,952 per year - $91,808 over four years. At these costs against $29,300 average earnings and a 17.1-year payback period, MLC is financially irrational for any student not entering WELS ministry or teaching. For those students, the cultural and vocational fit creates value the aggregate ROI score does not measure.
Earnings by Major
Top 2 most popular majors at Martin Luther College with available earnings data.
| Major | Median Earnings | Grade |
|---|---|---|
| Teacher Education | $56,435 | C+ |
| Theological and Ministerial Studies | $39,949 | F |
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.
Teacher Education
Teacher Education is MLC's higher-earning program at 89 graduates, $46,706 year-one and $56,435 year-four. Debt-to-earnings of 0.460 (ROI grade C+). Median debt of $21,500 against $46,706 year-one earnings is manageable. WELS school teacher salaries are modest but stable, and the community placement rate into WELS schools is essentially guaranteed for graduates - a benefit the Scorecard cannot quantify.
Theological and Ministerial Studies
Theological and Ministerial Studies had 35 graduates at $15,327 year-one and $39,949 year-four. Debt-to-earnings of 1.236 (F grade). Year-one earnings of $15,327 likely capture early ministry positions - first calls to small parishes often involve modest compensation. The four-year trajectory to $39,949 reflects a gradual earnings ramp in pastoral ministry. The F grade is technically accurate but contextually incomplete: WELS ministry provides housing allowances and benefits that partially offset the low cash salary the Scorecard measures.
How Graduates Do
Earnings
Loan Repayment
| Metric | This School | Median of schools we score |
|---|---|---|
| 1-year repayment | 93.2% | 68.8% |
| 3-year repayment | 95.2% | 73.6% |
| 5-year repayment | 90.5% | 67.7% |
| 7-year repayment | 92.3% | 72.8% |
Completion Rate
Trends Over Time
How Martin Luther 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 | 87.2% |
| ACT Composite (25th-75th) | 21-28 |
| Enrollment | 725 |
| Pell Grant recipients | 27.1% |
| Avg faculty salary (monthly) | $5,088 |
The 87.2% admission rate with ACT 21-28 mid-range makes entry accessible. SAT ranges are not reported. The more relevant filter is denominational and vocational alignment: MLC accepts students who plan careers in WELS Lutheran ministry or education. The institution serves a defined constituency and is not designed for students outside that community.
Compared to Similar Schools
Peer institutions matched by type, size, and selectivity.
MLC's repayment rate is 95.2%.
| School | ROI | Net Price | 10yr Earnings |
|---|---|---|---|
| Martin Luther College (this school) | 46 | $18,463 | $47,491 |
| Augsburg University | 53 | $23,873 | $58,829 |
| Monmouth College | 46 | $17,133 | $51,110 |
| Briar Cliff University | 46 | $23,907 | $54,475 |
| Simpson University | 44 | $27,817 | $54,340 |
| Bethany Lutheran College | 35 | $20,148 | $46,110 |
Who Thrives Here
Martin Luther College enrolls 725 students with an 87.2% admission rate. SAT data is not reported; ACT composite mid-range is 21-28. Pell grant rate is 27.1%. This institution is correctly understood as a specialized professional school for WELS Lutheran ministry and teaching, not a traditional liberal arts college. Students not aligned with the WELS mission should not attend. Students who are will find tight community infrastructure, a defined career pipeline into WELS school and parish positions, and an unusually strong repayment culture.
The Verdict: Proceed With Caution
The money case for Martin Luther College is mixed, and worth a hard look before you commit. At $18,463 per year after aid, the typical graduate earns $47,491 ten years after entry, which means it takes about 17.1 years to earn the cost back. For context, the median payback across the schools we score is about 12 years. Whether it's worth it comes down to your major and your aid package.
What it has going for it: its 71.5% graduation rate, high loan repayment success. What to keep an eye on: weak earnings relative to cost, a debt-to-earnings ratio of 0.69 (median across the schools we score: 0.61), a long payback period.
Median debt of $20,177 among graduates who borrowed, against average earnings of $29,300 six years after entry, gives a debt-to-earnings ratio of 0.69. 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.
Martin Luther College: Common Questions
Is Martin Luther College worth it?
In our view, the money case is mixed and worth a hard look before you commit. Martin Luther College scores 46/100 on our ROI scale. At $18,463 a year after aid the typical graduate earns $47,491 ten years after entry, so it takes about 17.1 years to earn the cost back. For context, the median payback across the schools we score is about 12 years.
How much does Martin Luther 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 $18,463 a year, or roughly $73,852 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 Martin Luther College graduates earn?
The typical graduate earns about $47,491 ten years after enrolling, roughly $5,691 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 Martin Luther 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 17.1 years for Martin Luther College. The median across the schools we track is about 12 years.
How much debt do Martin Luther College graduates take on?
Among graduates who borrowed, median federal loan debt from this school is about $20,177, against average earnings of $29,300 six years after entry - a debt-to-earnings ratio of 0.69. 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 Martin Luther College?
The six-year graduation rate is 71.5%, 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.