Morgan State University
Baltimore, Maryland · Public · 82.2% acceptance rate
ROI Score: 34/100 · Poor Value
Morgan State University earns a Poor Value tier with an ROI score of 34 out of 100, but the institutional number masks substantial bimodality between strong engineering programs and a long tail of liberal arts and humanities tracks where outcomes are severely challenged. The Baltimore, Maryland public HBCU posts in-state tuition of $8,229 (out-of-state $19,124), with a $14,985 net price putting four-year cost-of-attendance at $59,940. Median 6-year earnings of $30,300 climb meaningfully to $50,698 by year 10, suggesting real career progression for completers. Median debt of $27,250 produces a 0.899 debt-to-earnings ratio in the early-career window. The 12.7-year payback period is moderate. The dominant drag is a 36.0% three-year repayment rate, the lowest sub-score on this profile and a serious early-career stress signal. The 40.9% completion rate is below average. Where Morgan delivers is in engineering: B-grade programs in electrical, civil, industrial, and construction management, plus accounting. The school's R2 research designation and STEM federal grant funding produce genuine outcomes for engineering completers; non-engineering tracks face systematic challenges.
The data raises concerns about Morgan State University
These metrics fall below the thresholds most financial advisors recommend for a sound college investment. Review them carefully before committing.
- ROI Score34/100 - Poor Value tier (below 45). Most 4-year schools we track score 60 or higher.
Morgan State University
Quick Numbers
| In-state tuition + fees | $8,229/yr |
| Out-of-state tuition + fees | $19,124/yr |
| Average net price | $14,985/yr |
| Total 4-year cost (net) | $59,940 |
| Median earnings (10yr post-entry) | $50,698 |
| Median earnings (6yr post-entry) | $30,300 |
| Median debt at graduation | $27,250 |
| Estimated monthly loan payment | $289 |
| Estimated payback period | 12.7 years |
| 6-year graduation rate | 40.9% |
| Undergraduate enrollment | 9,019 |
Data as of 2024-2025. Source: College Scorecard API (U.S. Department of Education).
The Full Financial Picture
The sticker price at Morgan State University is $8,229/year ($19,124/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 $14,985/year, or roughly $59,940 over four years.
That net price varies significantly by family income. The lowest-income families (under $30,000/year) pay an average of $9,585/year, while families earning over $110,000 pay $21,323/year.
The median graduate leaves with $27,250 in federal loan debt, translating to an estimated monthly payment of $289 on a standard 10-year repayment plan. Against median earnings of $50,698 ten years out, the debt-to-earnings ratio is 0.90 - 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 | $9,585 |
| $30,001 - $48,000 | $13,420 |
| $48,001 - $75,000 | $16,147 |
| $75,001 - $110,000 | $19,981 |
| $110,001+ | $21,323 |
Cost by Income Bracket Explained
Lower-income families (under $30K)
Families earning $0-30K pay $9,585 net annually, with $30,001-48,000 households paying $13,420. Four-year cost of $38K-$54K is workable for engineering completers earning $70K+ but tight for liberal arts students. Pell-eligible students get genuine value here for engineering tracks specifically.
Middle-income families ($30K-$110K)
Middle-income brackets pay $16,147 to $19,981 net annually, putting four-year costs at $65K-$80K. The math holds for engineering and accounting completers; for the long tail of D and F-grade majors, the financial picture is tough. This bracket should consider University of Maryland Baltimore County or other in-state alternatives.
Higher-income families ($110K+)
Families above $110K pay $21,323 net annually, or $85K over four years. At that price point Morgan's engineering programs remain competitive given HBCU mission and STEM federal partnerships. For non-engineering majors at this price point, UMD College Park or Towson University offer materially stronger outcomes.
Earnings by Major
Top 10 most popular majors at Morgan State University with available earnings data.
| Major | Median Earnings | Grade |
|---|---|---|
| Liberal Arts and Sciences | $58,788 | D |
| Business Administration, Management, and Operations | $61,527 | D |
| Journalism | $50,700 | F |
| Psychology | $56,741 | F |
| Biology | $53,617 | D |
| Social Work | $60,082 | D |
| Electrical Engineering | $98,640 | B |
| Computer and Information Sciences | $66,950 | - |
| Civil Engineering | $88,870 | B |
| Information Science | $83,331 | 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.
Electrical Engineering
Electrical Engineering is one of Morgan State's flagship STEM programs with 46 graduates per year. First-year median earnings of $78,033 climb to $98,640 by year four, against $31,000 median debt for a 0.397 debt-to-earnings ratio and B ROI grade. Federal contractor demand around DC Metro and Baltimore (NSA, NASA Goddard, Johns Hopkins APL) provides a clear placement pipeline. This is Morgan's strongest financial program.
Civil Engineering
Civil Engineering has 36 graduates per year with first-year earnings of $70,667 climbing to $88,870 by year four. With $26,500 median debt the 0.375 debt-to-earnings ratio earns a B ROI grade. Maryland Department of Transportation and federal infrastructure contractor demand drive consistent placement, and the federal infrastructure spending environment continues to support strong outcomes.
Business Administration, Management, and Operations
Business Administration is one of Morgan's larger programs with 85 graduates per year. First-year earnings of $40,361 climb to $61,527 by year four, with $31,000 median debt producing a 0.768 debt-to-earnings ratio and D ROI grade. The earnings growth is real but the elevated debt load creates an early-career squeeze. The CPA pathway through accounting (a separate B-grade track) is materially stronger for business-bound students.
Psychology
Psychology has 61 graduates per year. First-year earnings of $30,813 against $31,000 median debt creates a 1.006 debt-to-earnings ratio and F ROI grade. Year-four earnings of $56,741 show meaningful improvement but never normalize the early-career picture. As elsewhere, psychology bachelor's holders need a graduate degree to enter licensed clinical work; the bachelor's alone produces poor financial outcomes here.
Liberal Arts and Sciences
Liberal Arts is Morgan's largest cohort at 98 graduates per year. First-year earnings of $39,699 against $32,512 median debt produces a 0.819 debt-to-earnings ratio and D ROI grade. Year-four earnings of $58,788 show strong improvement, suggesting graduates eventually find their professional footing. But the early-career squeeze creates real financial stress, reflected in Morgan's overall low repayment rate.
How Graduates Do
Earnings
Loan Repayment
| Metric | This School | Nat'l Avg |
|---|---|---|
| 1-year repayment | 29.2% | 52.0% |
| 3-year repayment | 36.0% | 62.0% |
| 5-year repayment | 27.5% | 68.0% |
| 7-year repayment | 33.8% | 72.0% |
Completion Rate
Admissions Snapshot
| Acceptance rate | 82.2% |
| SAT Math (25th-75th) | 440-550 |
| SAT Reading (25th-75th) | 400-520 |
| ACT Composite (25th-75th) | 16-21 |
| Enrollment | 9,019 |
| Pell Grant recipients | 56.5% |
| Avg faculty salary (monthly) | $11,634 |
Morgan State admits 82.2% of applicants, classifying as moderately selective on paper but functionally accessible to most prepared in-state applicants. The middle 50% SAT range is 440-550 in math and 400-520 in reading, with an ACT range of 16-21. Those test ranges sit below national 50th-percentile bands. The 40.9% completion rate combined with this admissions profile reflects an institution serving a heavily Pell-eligible population with substantial preparation gaps coming in.
Compared to Similar Schools
Peer institutions matched by type, size, and selectivity.
Among Morgan State's peer set, Bowie State University is its direct in-state Maryland HBCU peer with similar mid-tier ROI scores. University of Baltimore is a public urban Maryland comparable. Arkansas State, Colorado Mesa, and East Tennessee State are regional public peers in the same broad mid-tier. Morgan State's 34 ROI score is roughly comparable to Bowie State's, with East Tennessee State and Colorado Mesa generally outperforming on completion-driven metrics. Morgan's engineering programs outperform what its institutional ROI suggests.
| School | ROI | Net Price | 10yr Earnings |
|---|---|---|---|
| Morgan State University (this school) | 34 | $14,985 | $50,698 |
| Delaware State University | 33 | $13,910 | $49,307 |
| Coppin State University | 33 | $9,977 | $46,490 |
| North Carolina A & T State University | 32 | $10,846 | $44,440 |
| American Baptist College | 32 | $9,216 | $41,216 |
| Morehouse College | 29 | $39,013 | $52,889 |
Who Thrives Here
Morgan State fits in-state Maryland and DC Metro students drawn to the HBCU mission and Baltimore urban campus, particularly STEM-focused students who can target the engineering and computer science tracks. With 9,019 enrolled and a 56.6% Pell rate, the population is heavily working-class. Best fit for engineering-bound students with clear preparation; high risk for liberal arts and humanities students given the consistently D and F ROI grades in those tracks. Federal contractor and DOD employment opportunities make engineering particularly portable for graduates with security clearances.
The Verdict: The Numbers Don't Add Up
The financial data raises serious concerns about Morgan State University. With a net cost of $14,985 per year and median graduate earnings of only $50,698 ten years out, the estimated payback period exceeds 12.7 years. For most students, the financial return does not justify the cost.
Areas of concern include a 40.9% graduation rate and high debt relative to what graduates earn and concerning loan repayment rates.
Median debt of $27,250 against $50,698 in earnings is reasonable, though major choice matters significantly. Students in higher-earning programs will see better returns.
NewsletterCollege decisions are better with data.
New analyses, updated school profiles, and tools - when there’s something worth acting on.
Rankings & Links
Guides & Tools
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.