Montana State University
Bozeman, Montana · Public · 82.1% acceptance rate
ROI Score: 52/100 · Below Average Value
Data: 2024-25 College Scorecard release
Montana State University, the flagship land-grant in Bozeman, lands at an ROI score of 52 (Below Average Value tier) despite its strong engineering and nursing programs. The math is straightforward: $8,460 in-state tuition, but a $22,499 average net price after aid pushes the four-year sticker to roughly $89,996, and average earnings six years after entry sit at just $38,000. By 10 years out, median earnings recover to $53,263 and the typical graduate's $22,500 federal debt load looks manageable, and the payback period is 12.6 years. Repayment performance is the bright spot at 85% (3-year), suggesting graduates who finish reliably service their loans. MSU is a value if you finish a STEM program; if you don't finish, or you graduate into a low-wage field, the price-tag advantage evaporates.
Montana State University
Quick Numbers
| In-state tuition + fees | $8,460/yr |
| Out-of-state tuition + fees | $33,287/yr |
| Average net price | $22,499/yr |
| Total 4-year cost (net) | $89,996 |
| Median earnings (10yr post-entry) | $53,263 |
| Average earnings (6yr post-entry) | $38,000 |
| Median debt at graduation | $22,500 |
| Estimated monthly loan payment | $239 |
| Estimated payback period | 12.6 years |
| 6-year graduation rate | 57.1% |
| Undergraduate enrollment | 14,451 |
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: $8,460/year ($33,287/year out-of-state), 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 $22,499/year, or roughly $89,996 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 $17,797/year here, while families earning over $110,000 pay $25,905/year.
Among graduates who borrowed, the median federal loan debt from this school is $22,500, which works out to about $239 a month on the standard 10-year repayment plan. Our debt-to-earnings ratio divides that debt by average earnings six years after entry ($38,000) and comes to 0.59, 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 | $17,797 |
| $30,001 - $48,000 | $18,570 |
| $48,001 - $75,000 | $21,977 |
| $75,001 - $110,000 | $24,732 |
| $110,001+ | $25,905 |
Cost by Income Bracket Explained
Lower-income families (under $30K)
Families earning under $30,000 pay $17,797 net annually at MSU, the lowest bracket. That's roughly $71K over four years and a real lift on a low-income budget, but Pell plus state aid covers most of tuition. For a student finishing in nursing or engineering at $70K+ starting wages, the math works decisively. For liberal arts or education majors, the same net price becomes a much heavier 15+ year payback.
Middle-income families ($30K-$110K)
Middle-income families ($48,001-$75,000) pay $21,977 net per year, totaling about $88K across four years. With average graduate earnings of $38K at 6 years, the typical middle-income family is buying a degree at roughly 2.3x annual median income, which is workable for STEM majors but tight for everything else. This is the most pressure-tested bracket at MSU.
Higher-income families ($110K+)
High-income families ($110K+) pay $25,905 net per year, compared with $17,797 for the lowest income bracket. Sticker is essentially close to net here.
Earnings by Major
Top 10 most popular majors at Montana State University with available earnings data.
| Major | Median Earnings | Grade |
|---|---|---|
| Business Administration and Management | $71,578 | C+ |
| Registered Nursing | $76,146 | B |
| Mechanical Engineering | $88,653 | B |
| Family and Consumer Sciences | $52,702 | D |
| Psychology | $53,623 | D |
| Computer Science | $111,728 | B+ |
| Biology | $50,711 | D |
| Teacher Education | $45,523 | C |
| Civil Engineering | $82,785 | B+ |
| Chemical Engineering | $87,590 | B |
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 largest professional program with 284 graduates and a clean ROI story. Median 1-year earnings of $71,915 and a 0.39 debt-to-earnings ratio earn a B grade. The $28,000 median debt is moderate for a clinical degree, and Montana plus regional Pacific Northwest demand for BSN-prepared nurses is structural. Graduates licensed and working within a year of graduation reliably hit the program's payback math, making this MSU's most ROI-defensible flagship-scale program.
Mechanical Engineering
Mechanical Engineering produces 171 graduates a year with $68,469 starting and $88,653 at 4 years, earning a B grade on a 0.37 debt-to-earnings ratio. This is one of MSU's clearest sticker-to-payoff trades, particularly for in-state students.
Computer Science
Computer Science is MSU's strongest long-run earnings bet at $111,728 by year four, against $22,500 median debt and a 0.34 debt-to-earnings ratio for a B+ grade. With 102 graduates annually, scale is meaningful.
Business Administration and Management
Business is MSU's largest non-nursing program at 291 graduates. $23,000 median debt is reasonable. Students choosing business at MSU should plan to either pursue an MBA or relocate to a higher-wage metro to lift the ROI to acceptable levels.
Civil Engineering
Civil Engineering posts a B+ on $67,373 starting earnings, $82,785 at 4 years, and just $21,031 in median debt against a 0.31 debt-to-earnings ratio. Civil work is geographically distributed across infrastructure projects, public agencies, and private firms, and Montana plus regional Mountain West demand is steady. This is one of the cleanest ROI profiles in MSU's catalog at 73 graduates per year.
How Graduates Do
Earnings
Loan Repayment
| Metric | This School | Median of schools we score |
|---|---|---|
| 1-year repayment | 80.2% | 68.8% |
| 3-year repayment | 85.3% | 73.6% |
| 5-year repayment | 77.7% | 67.7% |
| 7-year repayment | 83.3% | 72.8% |
Completion Rate
Trends Over Time
How Montana State University’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 | 82.1% |
| SAT Math (25th-75th) | 525-640 |
| SAT Reading (25th-75th) | 540-645 |
| ACT Composite (25th-75th) | 21-27 |
| Enrollment | 14,451 |
| Pell Grant recipients | 16.4% |
| Avg faculty salary (monthly) | $9,762 |
MSU has an 82.1% admission rate, and the SAT mid-range is Math 525-640 and Reading 540-645 plus an ACT composite mid of 21-27. That selectivity profile aligns with the 57% completion rate: open enrollment patterns and a wide academic bench mean some students arrive underprepared and don't finish, which is the single biggest threat to ROI here.
Compared to Similar Schools
Peer institutions matched by type, size, and selectivity.
| School | ROI | Net Price | 10yr Earnings |
|---|---|---|---|
| Montana State University (this school) | 52 | $22,499 | $53,263 |
| Montana Technological University | 69 | $16,481 | $54,329 |
| Ball State University | 54 | $14,940 | $51,833 |
| The University of Tennessee-Chattanooga | 52 | $14,265 | $51,151 |
| Western Michigan University | 50 | $15,273 | $53,562 |
| Montana State University Billings | 34 | $16,524 | $44,296 |
Who Thrives Here
MSU fits the 14,451-student flagship model: residential, research-active, with strong outdoor culture and a 16.4% Pell rate that signals a relatively middle-class student body for a public university. The fit case is clearest for in-state Montana students targeting engineering, computer science, nursing, or the applied sciences, where program-level earnings ($66K-$77K at 1 year out) easily justify the in-state cost. Out-of-state students paying $33,287 tuition plus living costs face a much harder ROI calculation unless they commit to a high-earning STEM track.
The Verdict: Proceed With Caution
The money case for Montana State University is mixed, and worth a hard look before you commit. At $22,499 per year after aid, the typical graduate earns $53,263 ten years after entry, which means it takes about 12.6 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: high loan repayment success. What to keep an eye on: weak earnings relative to cost.
Median debt of $22,500 among graduates who borrowed, against average earnings of $38,000 six years after entry, gives a debt-to-earnings ratio of 0.59, under the 1.0 point at which debt would equal a full year of those earnings. Your major matters a lot here: graduates in higher-earning fields will see the better end of this.
Montana State University: Common Questions
Is Montana State University worth it?
In our view, the money case is mixed and worth a hard look before you commit. Montana State University scores 52/100 on our ROI scale. At $22,499 a year after aid the typical graduate earns $53,263 ten years after entry, so it takes about 12.6 years to earn the cost back. For context, the median payback across the schools we score is about 12 years.
How much does Montana State University 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 $22,499 a year, or roughly $89,996 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 Montana State University graduates earn?
The typical graduate earns about $53,263 ten years after enrolling, roughly $11,463 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 Montana State University?
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 12.6 years for Montana State University. The median across the schools we track is about 12 years.
How much debt do Montana State University graduates take on?
Among graduates who borrowed, median federal loan debt from this school is about $22,500, against average earnings of $38,000 six years after entry - a debt-to-earnings ratio of 0.59. In our view that is reasonable, though your major matters: higher-earning fields will see the better end of it.
What is the graduation rate at Montana State University?
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.