Midwestern State University
Wichita Falls, Texas · Public · 93.5% acceptance rate
ROI Score: 65/100 · Fair Value
Data: 2024-25 College Scorecard release
Midwestern State University scores 65 (Fair Value) - a mixed result anchored by low in-state tuition and decent healthcare program earnings but dragged down by a 42.7% completion rate. At $10,580 in-state tuition and a net price of $11,656, MSU is among the more affordable public universities in our dataset. Median 6-year earnings of $42,400 produce a 9-year payback period - acceptable at this price point, but the completion rate is a major risk factor. Registered Nursing (217 graduates, $77,928 year-one, $87,009 year-four, B+ grade) and Allied Health Diagnostic and Treatment (218 graduates, $67,953 year-one, $83,622 year-four, B grade) are the twin engines of value at MSU. Computer Science posts $66,505 year-one (no four-year data). Dental Support Services earns a B+ with $60,153 year-one. Mechanical Engineering (25 graduates) posts $56,371 year-one and $87,160 year-four. The lower half of programs, including Communication (F grade), Psychology (D grade), and Biology (D grade), produce outcomes that are weak relative to even a modest public school tuition. The 40.7% Pell rate indicates significant low-income representation in a school serving the Wichita Falls, Texas market.
Midwestern State University
Quick Numbers
| In-state tuition + fees | $10,580/yr |
| Out-of-state tuition + fees | $12,530/yr |
| Average net price | $11,656/yr |
| Total 4-year cost (net) | $46,624 |
| Median earnings (10yr post-entry) | $55,747 |
| Median earnings (6yr post-entry) | $42,400 |
| Median debt at graduation | $21,030 |
| Estimated monthly loan payment | $223 |
| Estimated payback period | 9 years |
| 6-year graduation rate | 42.7% |
| Undergraduate enrollment | 4,087 |
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: $10,580/year ($12,530/year out-of-state). Here's the part that matters - almost nobody pays that. After grants, scholarships, and aid, the average student here pays a net price of $11,656/year, or roughly $46,624 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 $8,856/year here, while families earning over $110,000 pay $18,988/year.
Most students borrow to get here. The median graduate leaves owing $21,030 in federal loans, which works out to about $223 a month on the standard 10-year repayment plan. Hold that up against the $55,747 the typical graduate earns ten years out: the debt-to-earnings ratio comes to 0.50, comfortably manageable.
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 | $8,856 |
| $30,001 - $48,000 | $9,886 |
| $48,001 - $75,000 | $11,445 |
| $75,001 - $110,000 | $15,365 |
| $110,001+ | $18,988 |
Cost by Income Bracket Explained
Lower-income families (under $30K)
The 0-30000 bracket pays $8,856 per year at MSU - one of the lowest figures in our dataset. Pell and institutional aid effectively brings the already-low public tuition down further. Against $42,400 median earnings, this net price is very manageable for health sciences completers. The 40.7% Pell rate means MSU is genuinely serving this population, and the price is right for them.
Middle-income families ($30K-$110K)
The 48001-75000 bracket pays $11,445, rising to $15,365 for the 75001-110000 tier. Net prices are moderate and affordable by any standard at this public school. Middle-income families can invest in a nursing or health sciences degree at MSU at a price point that produces strong financial outcomes for completers.
Higher-income families ($110K+)
Families above $110,000 pay $18,988 per year - roughly $75,952 over four years. For a public school investment in nursing or allied health, this is excellent value even at the upper end. Full-pay students in health sciences or engineering will see strong payback; students in lower-earning programs face longer recovery but still at a cost well below comparable private schools.
Earnings by Major
Top 10 most popular majors at Midwestern State University with available earnings data.
| Major | Median Earnings | Grade |
|---|---|---|
| Allied Health Diagnostic and Treatment | $83,622 | B |
| Registered Nursing | $87,009 | B+ |
| Multi/Interdisciplinary Studies, Other | $48,989 | C |
| Psychology | $46,729 | D |
| Biology | $52,286 | D |
| Business Administration, Management, and Operations | $59,289 | C |
| Criminal Justice and Corrections | $50,888 | C |
| Social Work | $51,901 | D |
| Finance and Financial Management | $84,547 | C+ |
| Marketing | $55,986 | 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.
Registered Nursing
Nursing is MSU's volume leader for strong outcomes: 217 graduates, $77,928 year-one, $87,009 year-four, median debt $27,000, debt-to-earnings 0.346 (B+ grade). At $11,656 net price, these nursing outcomes represent exceptional value - the debt-to-earnings ratio would be strong at any tuition level, but at a sub-$12k annual cost, it is even more compelling. MSU's nursing program is a clear case where a regional public school delivers elite-tier outcome value.
Allied Health Diagnostic and Treatment
Allied Health Diagnostic (218 graduates) is the highest-volume strong program: $67,953 year-one, $83,622 year-four, debt-to-earnings 0.353 (B grade) on median debt of $24,000. These programs (radiologic technology, respiratory therapy, etc.) at a public school price point produce outstanding ROI. The large graduate count reflects MSU's commitment to health science education serving the regional healthcare workforce.
Mechanical Engineering
Mechanical Engineering (25 graduates) posts $56,371 year-one and $87,160 at year four, with a C grade (debt-to-earnings 0.550, median debt $31,000). The year-four figure is strong and reflects oil, gas, and manufacturing sector employment in Texas. The C grade reflects higher debt relative to year-one earnings, but the four-year trajectory is compelling. MSU's engineering programs benefit from proximity to energy sector employers.
Finance and Financial Management
Finance (28 graduates) earns a C+ grade: $49,413 year-one, $84,547 year-four, debt-to-earnings 0.472 on median debt of $23,338. The year-four figure of $84k is surprisingly strong for a Wichita Falls public school and likely reflects Dallas-Fort Worth metro placement for finance graduates who relocate. The near-term year-one figure is modest but the trajectory is encouraging.
Multi/Interdisciplinary Studies, Other
Multi/Interdisciplinary Studies is the largest single program category by graduates (145) and earns a C grade: $43,667 year-one, $48,989 year-four, debt-to-earnings 0.627. This category likely captures general studies, applied arts, and degree-completion pathways. Year-one earnings are slightly above the school median. The C grade reflects adequate but not strong outcomes for a flexible credential.
How Graduates Do
Earnings
Loan Repayment
| Metric | This School | Nat'l Avg |
|---|---|---|
| 1-year repayment | 64.5% | 52.0% |
| 3-year repayment | 70.3% | 62.0% |
| 5-year repayment | 63.0% | 68.0% |
| 7-year repayment | 69.0% | 72.0% |
Completion Rate
Trends Over Time
How Midwestern State University’s cost and outcomes have moved across College Scorecard releases (2009-2023).
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 | 93.5% |
| Enrollment | 4,087 |
| Pell Grant recipients | 40.6% |
| Avg faculty salary (monthly) | $8,183 |
MSU is near-open access at 93.5% admission with no reported test score benchmarks. The admissions filter is minimal. Students should focus on choosing a program with demonstrated outcomes and engaging with retention support early, given the institution's completion rate.
Compared to Similar Schools
Peer institutions matched by type, size, and selectivity.
MSU's peer set includes Angelo State University, Texas A&M-Corpus Christi, Colorado State Pueblo, Saint Cloud State, and Christopher Newport University - mostly regional public schools. MSU (ROI 65) is competitive with Angelo State and Corpus Christi. The distinguishing feature is MSU's health sciences pipeline: the combination of nursing and allied health volume at sub-$12k net price is genuinely difficult to beat in this cohort. The completion rate is the persistent weakness across the regional Texas public peer group.
| School | ROI | Net Price | 10yr Earnings |
|---|---|---|---|
| Midwestern State University (this school) | 65 | $11,656 | $55,747 |
| Colorado State University Pueblo | 64 | $10,051 | $55,563 |
| Christopher Newport University | 64 | $23,015 | $60,509 |
| Saint Cloud State University | 62 | $13,529 | $55,813 |
| Angelo State University | 49 | $15,091 | $50,116 |
| Texas A & M University-Corpus Christi | 48 | $15,225 | $51,865 |
Who Thrives Here
MSU admits 93.5% of applicants and does not report test score ranges in Scorecard. Enrollment of 4,087 is moderate for a regional Texas public. The 40.7% Pell rate reflects a significant working-class and lower-income student population in a smaller Texas city. Students who complete health sciences or engineering programs find strong returns at this low price point. The 42.7% completion rate remains the key risk factor - nearly three in five enrolled students do not graduate, suggesting substantial attrition, particularly in non-STEM programs.
The Verdict: A Reasonable Bet - With Caveats
Midwestern State University is a fair-value bet, but how well it pays off depends a lot on you. At $11,656 a year after aid ($46,624 over four years), with the typical graduate earning $55,747 a decade out, the cost takes about 9 years to earn back. That's roughly average - not a bargain, not a mistake.
What it has going for it: a strong earnings premium over high school graduates. What to keep an eye on: its 42.7% graduation rate, concerning loan repayment rates.
Median debt of $21,030 against $55,747 in earnings is reasonable, though your major matters a lot here. Graduates in higher-earning fields will see the better end of this.
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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.