Millsaps College
Jackson, Mississippi · Private Nonprofit · 43.1% acceptance rate
ROI Score: 43/100 · Below Benchmark
Data: 2024-25 College Scorecard release
Millsaps College earns a 43 ROI score and the Below Benchmark tier rating, a result driven primarily by a steep cost structure that the college's earnings outcomes do not currently justify. Sticker tuition runs $44,680 against a net price of $26,034, pushing four-year cost of attendance to roughly $104,136. Average earnings six years after entry sit at just $39,400, climbing to a median $53,848 by year ten, while median federal debt at graduation reaches $27,000. The Jackson, Mississippi setting and small size mean students get an intimate liberal arts experience, but the value math is unforgiving for full-pay families given current Scorecard outcomes.
How Millsaps 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.
- ROI Score43/100 - Below Benchmark tier of our scale (below 45). For context, 38% of the schools we score reach 60 or higher.
Millsaps College
Quick Numbers
| In-state tuition + fees | $44,680/yr |
| Out-of-state tuition + fees | $44,680/yr |
| Average net price | $26,034/yr |
| Total 4-year cost (net) | $104,136 |
| Median earnings (10yr post-entry) | $53,848 |
| Average earnings (6yr post-entry) | $39,400 |
| Median debt at graduation | $27,000 |
| Estimated monthly loan payment | $286 |
| Estimated payback period | 13 years |
| 6-year graduation rate | 57.1% |
| Undergraduate enrollment | 549 |
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: $44,680/year, which covers tuition and fees only. After grants, scholarships, and aid, the average student here pays a net price of $26,034/year, or roughly $104,136 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 $24,215/year here, while families earning over $110,000 pay $30,945/year.
Among graduates who borrowed, the median federal loan debt from this school is $27,000, which works out to about $286 a month on the standard 10-year repayment plan. Our debt-to-earnings ratio divides that debt by average earnings six years after entry ($39,400) 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 | $24,215 |
| $30,001 - $48,000 | $23,719 |
| $48,001 - $75,000 | $23,062 |
| $75,001 - $110,000 | $27,049 |
| $110,001+ | $30,945 |
Cost by Income Bracket Explained
Lower-income families (under $30K)
Families earning under $30,000 pay a net price of $24,215 - still a heavy lift relative to income, even after aid. With average graduate earnings of $39,400 at six years out, the math is genuinely difficult for Pell-eligible students to make work without scholarships above the federal aid floor. Lower-income students should aggressively pursue Millsaps's institutional merit awards before committing.
Middle-income families ($30K-$110K)
The $48,001-$75,000 bracket pays $23,062, the lowest net price across all income tiers - a noteworthy inversion where this middle-income band actually pays less than the lowest-income band. The $75,001-$110,000 group jumps to $27,049.
Higher-income families ($110K+)
Families above $110,000 pay $30,945 net annually, or roughly $124K over four years. Wealthier applicants who value the liberal arts environment may still find it worthwhile, but the financial case is weak.
Earnings by Major
Top 2 most popular majors at Millsaps College with available earnings data.
| Major | Median Earnings | Grade |
|---|---|---|
| Business Administration, Management, and Operations | $76,477 | C |
| Accounting | $72,642 | - |
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.
Business Administration, Management, and Operations
Business Administration is Millsaps's flagship undergraduate program, with 16 graduates and a median four-year earnings figure of $76,477 - well above the schoolwide median. Median debt sits at $27,000 and the debt-to-earnings ratio of 0.679 earns a C ROI grade. First-year earnings of $39,765 are modest, but the four-year trajectory shows strong post-graduation career growth typical of business majors who climb into management roles. Career paths likely concentrate in regional banking, corporate accounting, and small-business management.
Accounting
Accounting graduates 4 students annually - a small cohort - but reports a strong $72,642 median four-year earnings figure. Debt and ROI grade are not reported due to thin sample size. For students who can secure CPA-track internships and licensure, this program likely delivers among the best returns on a Millsaps degree, particularly if combined with the regional accounting firm pipeline in Jackson and the broader Mississippi market.
How Graduates Do
Earnings
Loan Repayment
| Metric | This School | Median of schools we score |
|---|---|---|
| 1-year repayment | 79.7% | 68.8% |
| 3-year repayment | 78.5% | 73.6% |
| 5-year repayment | 72.6% | 67.7% |
| 7-year repayment | 75.1% | 72.8% |
Completion Rate
Trends Over Time
How Millsaps 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 | 43.1% |
| SAT Math (25th-75th) | 530-575 |
| SAT Reading (25th-75th) | 495-575 |
| ACT Composite (25th-75th) | 21-28 |
| Enrollment | 549 |
| Pell Grant recipients | 36.9% |
| Avg faculty salary (monthly) | $8,256 |
Millsaps admits 43.1 percent of applicants, putting it in the moderately selective range. SAT Math mid-50 percent runs 530-575 and Reading 495-575, while ACT Composite spans 21-28. The 57 percent completion rate is consistent with that profile - selective enough to filter, not so selective that retention is automatic.
Compared to Similar Schools
Peer institutions matched by type, size, and selectivity.
| School | ROI | Net Price | 10yr Earnings |
|---|---|---|---|
| Millsaps College (this school) | 43 | $26,034 | $53,848 |
| Briar Cliff University | 46 | $23,907 | $54,475 |
| College of Biblical Studies-Houston | 43 | $672 | $39,260 |
| Rabbinical College Bobover Yeshiva Bnei Zion | 31 | $9,136 | $20,707 |
| Belhaven University | 29 | $15,676 | $46,440 |
| Blue Mountain Christian University | 27 | $24,016 | $40,421 |
Who Thrives Here
Millsaps fits students who want a tight-knit liberal arts experience in the Deep South and who can either secure substantial merit aid or absorb the full sticker. With just 549 students enrolled and a 36.9 percent Pell grant rate, the campus is small and economically mixed but tilts toward middle-income families. Strongest outcomes accrue to business and accounting graduates, where four-year earnings reach the mid-$70Ks. Students set on STEM-heavy or finance-heavy careers in larger metro areas should weigh whether the small-campus tradeoff outweighs the cost premium.
The Verdict: Below Benchmark Under Our Scoring
Under our methodology, Millsaps College scores 43/100, which falls in the Below Benchmark tier (below 45). At a net price of $26,034 per year, with typical graduate earnings of $53,848 ten years after entry, we estimate the payback period at about 13 years. In our view that makes the financial case a hard one to make on the numbers alone, but those numbers are averages: your major, your aid package and what you want from a degree all change the picture, so run your own numbers before you commit.
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 $27,000 among graduates who borrowed, against average earnings of $39,400 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.
Millsaps College: Common Questions
Is Millsaps College worth it?
In our view, the financial case is a hard one to make on the numbers alone. Millsaps College scores 43/100 on our ROI scale, in the Below Benchmark tier (below 45). At $26,034 a year after aid against $53,848 in typical earnings ten years out, we estimate the payback period at about 13 years. Your major and aid package can change the picture, so run your own numbers.
How much does Millsaps 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 $26,034 a year, or roughly $104,136 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 Millsaps College graduates earn?
The typical graduate earns about $53,848 ten years after enrolling, roughly $12,048 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 Millsaps 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 13 years for Millsaps College. The median across the schools we track is about 12 years.
How much debt do Millsaps College graduates take on?
Among graduates who borrowed, median federal loan debt from this school is about $27,000, against average earnings of $39,400 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 Millsaps College?
The six-year graduation rate is 57.1%. The national average for four-year schools is 64% (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.