Morehead State University
Morehead, Kentucky · Public · 77.2% acceptance rate
ROI Score: 32/100 · Poor Value
Morehead State University is a regional public university in eastern Kentucky that scores 32 on the CampusROI scale, landing it in the Poor Value tier despite a low sticker price. The cost picture is the strong point: in-state tuition is just $10,024, the average net price is $9,793, and the four-year total cost is roughly $39,172 -- among the more affordable four-year options in the country. The problem is on the earnings side. Median 10-year earnings of $43,197 produce a 21.9-year payback period (sub-score 24) and a 0.74 debt-to-earnings ratio (sub-score 22) on $22,250 of median federal debt. The repayment sub-score of 18 (60% three-year repayment) is the weakest input, signaling that a meaningful share of borrowers struggle. Completion at 52.2% is roughly average for an open-access regional public. The 21% earnings premium over the high-school baseline is real but modest. Bottom line: Morehead is genuinely cheap, which is why it stays out of the deep-red zone, but graduates' regional Appalachian Kentucky labor market produces earnings that struggle to outpace even modest debt loads.
The data raises concerns about Morehead State University
These metrics fall below the thresholds most financial advisors recommend for a sound college investment. Review them carefully before committing.
- ROI Score32/100 - Poor Value tier (below 45). Most 4-year schools we track score 60 or higher.
- Payback period21.9 years - Most 4-year schools we track have payback periods of 4-10 years.
Morehead State University
Quick Numbers
| In-state tuition + fees | $10,024/yr |
| Out-of-state tuition + fees | $14,980/yr |
| Average net price | $9,793/yr |
| Total 4-year cost (net) | $39,172 |
| Median earnings (10yr post-entry) | $43,197 |
| Median earnings (6yr post-entry) | $30,000 |
| Median debt at graduation | $22,250 |
| Estimated monthly loan payment | $236 |
| Estimated payback period | 21.9 years |
| 6-year graduation rate | 52.2% |
| Undergraduate enrollment | 4,578 |
Data as of 2024-2025. Source: College Scorecard API (U.S. Department of Education).
The Full Financial Picture
The sticker price at Morehead State University is $10,024/year ($14,980/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 $9,793/year, or roughly $39,172 over four years.
That net price varies significantly by family income. The lowest-income families (under $30,000/year) pay an average of $7,150/year, while families earning over $110,000 pay $15,164/year.
The median graduate leaves with $22,250 in federal loan debt, translating to an estimated monthly payment of $236 on a standard 10-year repayment plan. Against median earnings of $43,197 ten years out, the debt-to-earnings ratio is 0.74 - within the recommended range but worth monitoring.
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 | $7,150 |
| $30,001 - $48,000 | $7,057 |
| $48,001 - $75,000 | $8,874 |
| $75,001 - $110,000 | $13,341 |
| $110,001+ | $15,164 |
Cost by Income Bracket Explained
Lower-income families (under $30K)
Families earning under $30,000 pay $7,150 per year, just slightly above the $30,001-$48,000 bracket at $7,057 -- a mild inversion worth flagging but not a serious one. Over four years that is about $28,000-$29,000 of cost. For Pell-eligible Kentucky students this is one of the lower-cost four-year paths in the state, and the math works if students complete the degree and choose a marketable major.
Middle-income families ($30K-$110K)
Households at $48,001-$75,000 pay $8,874 net annually, while $75,001-$110,000 pays $13,341 -- $35,500-$53,400 over four years. These are reasonable price points for a bachelor's degree, but with 10-year median earnings of just $43,197 and a 21.9-year payback period, even modest loan balances take a long time to clear. Cash-flow funding rather than borrowing is the smart play.
Higher-income families ($110K+)
Families above $110,000 pay $15,164, or about $61,000 over four years. That is still cheaper than most private alternatives, but at this price tier, families have other Kentucky public options (UK, U Louisville) with materially better completion and earnings outcomes. Morehead at full pay is a fit-and-geography choice, not an ROI choice.
Earnings by Major
Top 10 most popular majors at Morehead State University with available earnings data.
| Major | Median Earnings | Grade |
|---|---|---|
| Liberal Arts and Sciences | $43,422 | D |
| Biology | $65,624 | D |
| Teacher Education | $37,275 | C |
| Kinesiology and Exercise Science | $45,877 | D |
| Registered Nursing | $85,740 | B |
| Social Work | $45,201 | D |
| Engineering Technologies/Technicians, General | $76,568 | C |
| Business Administration, Management, and Operations | $55,282 | D |
| Sociology | $50,331 | D |
| Special Education and Teaching | $39,777 | D |
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 Morehead's flagship ROI program. Graduates earn $70,523 at one year and $85,740 at four years, against $29,000 of debt -- a 0.41 ratio and a B grade. With 50 graduates per year this is also a sizable cohort. The strong outcomes reflect Kentucky's RN labor demand and the fact that BSN graduates have direct, licensure-anchored career paths in regional hospitals (St. Claire HealthCare, UK HealthCare, KentuckyOne). This is the highest-confidence positive ROI track on campus.
Allied Health Diagnostic and Treatment
Allied Health Diagnostic and Treatment (CIP 5109) graduates earn $64,504 at one year and $76,850 at four years against $26,000 of debt -- a 0.40 debt-to-earnings ratio and a B grade. With 28 graduates per year this is one of the strongest ROI paths at Morehead, second only to nursing. Career endpoints typically include radiologic technology, sonography, and respiratory therapy, all of which carry licensure protection and immediate earnings.
Liberal Arts and Sciences
Liberal Arts and Sciences is the largest program by graduate count (140 per year) and one of the weakest by ROI. Graduates earn $30,055 at one year and $43,422 at four years against $28,902 of debt -- a 0.96 debt-to-earnings ratio and a D grade. This is often a default major for undeclared students; families should treat the 0.96 ratio as a warning that the program produces nearly $1 of debt for every $1 of annual earnings, which is structurally hard to recover from on the standard 10-year repayment plan.
Engineering Technologies/Technicians, General
Engineering Technologies graduates earn $51,021 at one year and $76,568 at four years against $28,396 of debt -- a 0.56 ratio and a C grade. With 44 graduates per year this is one of the larger STEM cohorts on campus. The four-year earnings figure is competitive with regional engineering programs and makes this one of the more reliable mid-tier ROI tracks at Morehead.
Teacher Education
Teacher Education is one of the largest cohorts at 60 graduates per year. Graduates earn $36,198 at one year and $37,275 at four years against $25,292 of debt -- a 0.70 ratio and a C grade. The earnings are typical for Kentucky public-school teaching salaries, which are constrained by state pay schedules. Public Service Loan Forgiveness eligibility is the most important factor for this cohort financially; without PSLF the math is materially harder.
How Graduates Do
Earnings
Loan Repayment
| Metric | This School | Nat'l Avg |
|---|---|---|
| 1-year repayment | 51.9% | 52.0% |
| 3-year repayment | 60.0% | 62.0% |
| 5-year repayment | 49.0% | 68.0% |
| 7-year repayment | 53.8% | 72.0% |
Completion Rate
Admissions Snapshot
| Acceptance rate | 77.2% |
| Enrollment | 4,578 |
| Pell Grant recipients | 29.5% |
| Avg faculty salary (monthly) | $7,788 |
Morehead admits 77.2% of applicants, making it broadly accessible. SAT and ACT mid-50% ranges are not reported in current Scorecard data, which is consistent with a test-optional posture and a regional access mission. Selectivity is not the gating factor here; readiness for college-level work is. Students who do graduate (52.2%) generally pay back loans, but the 47.8% non-completion outcome is the single biggest financial risk for incoming students.
Compared to Similar Schools
Peer institutions matched by type, size, and selectivity.
Morehead's CampusROI peer set includes Eastern Kentucky University, Kentucky State University, Winthrop University (SC), Winston-Salem State University (NC), and Fort Lewis College (CO). Eastern Kentucky is the closest direct comp -- another regional Kentucky public -- and tends to produce slightly stronger outcomes on completion. Kentucky State is the lowest performer in the group on most ROI inputs. Winthrop and Winston-Salem State outperform Morehead on completion. Fort Lewis is geographically remote but financially similar.
| School | ROI | Net Price | 10yr Earnings |
|---|---|---|---|
| Morehead State University (this school) | 32 | $9,793 | $43,197 |
| Eastern Kentucky University | 39 | $11,040 | $45,795 |
| Fort Lewis College | 33 | $17,296 | $46,349 |
| Winthrop University | 32 | $15,343 | $47,185 |
| Winston-Salem State University | 27 | $13,479 | $45,344 |
| Kentucky State University | 9 | $8,040 | $36,382 |
Who Thrives Here
With 4,578 undergraduates, a 29.6% Pell rate, and an in-state regional Appalachian footprint, Morehead fits Kentucky students who want an affordable bachelor's degree close to home and have a clear preprofessional plan. Outcomes look strong for nursing ($85,740 four-year earnings) and allied health ($76,850); they look quite weak for liberal arts (the 140-graduate-per-year program posts $43,422 with a 0.96 debt ratio). Major selection here is the single largest determinant of whether the math works.
The Verdict: The Numbers Don't Add Up
The financial data raises serious concerns about Morehead State University. With a net cost of $9,793 per year and median graduate earnings of only $43,197 ten years out, the estimated payback period exceeds 21.9 years. For most students, the financial return does not justify the cost.
Areas of concern include weak earnings relative to cost and a 52.2% graduation rate and high debt relative to what graduates earn and concerning loan repayment rates and a long payback period.
Median debt of $22,250 against $43,197 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.