Midwestern State University
Wichita Falls, Texas · Public · 93.5% acceptance rate
ROI Score: 65/100 · Fair Value
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 this batch. 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 sticker price at Midwestern State University is $10,580/year ($12,530/year out-of-state). But sticker price isn't what most students pay. After grants, scholarships, and financial aid, the average student pays a net price of $11,656/year, or roughly $46,624 over four years.
That net price varies significantly by family income. The lowest-income families (under $30,000/year) pay an average of $8,856/year, while families earning over $110,000 pay $18,988/year.
The median graduate leaves with $21,030 in federal loan debt, translating to an estimated monthly payment of $223 on a standard 10-year repayment plan. Against median earnings of $55,747 ten years out, the debt-to-earnings ratio is 0.50 - well within manageable territory.
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 this batch. 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
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 offers fair financial value, though the ROI depends heavily on individual circumstances. The net cost of $11,656 per year leads to $46,624 over four years, while graduates earn a median of $55,747 a decade out. The payback period of 9 years is about average - not bad, but not a standout either.
Key strengths include strong earnings premium over high school graduates. However, the data also shows a 42.7% graduation rate and concerning loan repayment rates.
Median debt of $21,030 against $55,747 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.