Mount Carmel College of Nursing
Columbus, Ohio · Private Nonprofit · 84.3% acceptance rate
ROI Score: 87/100 · Strong Value
Mount Carmel College of Nursing scores 87 (Strong Value) -- a remarkably high score for a small, single-purpose institution. The score is built on two pillars: a 4.5-year payback period and a 96.2% earnings premium (raw 0.962). Median 6-year earnings of $54,900 against a net price of $10,420 produces the fastest payback period in this batch. The 53.9% completion rate is the primary concern -- just over half of students who enroll finish, which is below average for nursing schools. The institution is specialized exclusively in nursing, located in Columbus, Ohio, and affiliated with a major health system (Mount Carmel Health System). The Registered Nursing program -- the only program tracked in Scorecard data -- shows 254 graduates, $69,969 year-one, $77,510 year-four, ROI grade B with debt-to-earnings 0.386 and median debt $27,000. The earnings premium subscore of 98 out of 100 reflects how dramatically nursing graduates outperform the national earnings baseline. Median 10-year earnings of $75,103 indicate continued wage growth for completers.
Mount Carmel College of Nursing scores in the top 25% of all schools we track, with strong earnings outcomes relative to cost.
Mount Carmel College of Nursing
Quick Numbers
| In-state tuition + fees | $22,080/yr |
| Out-of-state tuition + fees | $22,080/yr |
| Average net price | $10,420/yr |
| Total 4-year cost (net) | $41,680 |
| Median earnings (10yr post-entry) | $75,103 |
| Median earnings (6yr post-entry) | $54,900 |
| Median debt at graduation | $22,082 |
| Estimated monthly loan payment | $234 |
| Estimated payback period | 4.5 years |
| 6-year graduation rate | 53.8% |
| Undergraduate enrollment | 532 |
Data as of 2024-2025. Source: College Scorecard API (U.S. Department of Education).
The Full Financial Picture
The sticker price at Mount Carmel College of Nursing is $22,080/year. But sticker price isn't what most students pay. After grants, scholarships, and financial aid, the average student pays a net price of $10,420/year, or roughly $41,680 over four years.
That net price varies significantly by family income. The lowest-income families (under $30,000/year) pay an average of $6,312/year, while families earning over $110,000 pay $16,383/year.
The median graduate leaves with $22,082 in federal loan debt, translating to an estimated monthly payment of $234 on a standard 10-year repayment plan. Against median earnings of $75,103 ten years out, the debt-to-earnings ratio is 0.40 - 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 | $6,312 |
| $30,001 - $48,000 | $7,184 |
| $48,001 - $75,000 | $14,438 |
| $75,001 - $110,000 | $17,556 |
| $110,001+ | $16,383 |
Cost by Income Bracket Explained
Lower-income families (under $30K)
Families earning $0-30,000 pay $6,312 net price per year at Mount Carmel -- one of the lowest figures for a private nursing college. Total 4-year cost near $25,000 for the lowest-income bracket is genuinely affordable for a nursing credential. Pell grants and institutional aid drive this figure down dramatically from the $22,080 tuition. Low-income students who complete the nursing program face a very fast payback at these costs: median debt of $27,000 against year-one earnings of $69,969 produces a debt-to-income ratio under 0.40.
Middle-income families ($30K-$110K)
The 48001-75000 bracket pays $14,438 per year -- a meaningful jump from the low-income tier, reflecting the step structure in financial aid. The 75001-110000 bracket pays $17,556. Total 4-year costs between $58,000 and $70,000 are still affordable for a nursing credential that produces $70,000 in year-one earnings. Middle-income families who use Mount Carmel as a nursing pathway are getting a reasonable value proposition, assuming their students complete the program.
Higher-income families ($110K+)
Families earning $110,000+ pay $16,383 per year -- slightly lower than the 75001-110000 bracket, an unusual pattern suggesting the aid formula slightly favors very-high-income families. At roughly $65,000 in total 4-year cost for higher-income families, Mount Carmel's nursing credential is priced below many comparable nursing programs at private universities. The 4.5-year payback period means even full-net-price students recover their investment relatively quickly through nursing earnings.
Earnings by Major
Top 1 most popular majors at Mount Carmel College of Nursing with available earnings data.
| Major | Median Earnings | Grade |
|---|---|---|
| Registered Nursing | $77,510 | 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
Registered Nursing is the only program at this institution and defines its entire ROI profile: 254 graduates, $69,969 year-one, $77,510 year-four, ROI grade B with debt-to-earnings 0.386 and median debt $27,000. Year-one earnings of nearly $70,000 reflect direct placement into Columbus area health systems, primarily through the Mount Carmel affiliation. The B grade reflects solid earnings with debt that is above the ideal level relative to starting income but manageable given the reliable nursing wage floor. Graduates entering the Columbus healthcare market face strong employer demand.
How Graduates Do
Earnings
Loan Repayment
| Metric | This School | Nat'l Avg |
|---|---|---|
| 1-year repayment | 83.7% | 52.0% |
| 3-year repayment | 86.2% | 62.0% |
| 5-year repayment | 83.0% | 68.0% |
| 7-year repayment | 83.3% | 72.0% |
Completion Rate
Admissions Snapshot
| Acceptance rate | 84.3% |
| Enrollment | 532 |
| Pell Grant recipients | 32.7% |
| Avg faculty salary (monthly) | $8,983 |
Mount Carmel's 84.3% admission rate reflects its open-ish nursing school model -- most prospective nursing students who apply are accepted, but the nursing program's academic requirements mean completion is the real screen. No test score data is reported. The more relevant admission question is whether accepted students can meet the clinical and academic demands of an intensive nursing curriculum. The 53.9% completion rate suggests a meaningful fraction of enrolled students encounters difficulties during the program.
Compared to Similar Schools
Peer institutions matched by type, size, and selectivity.
Mount Carmel's Scorecard peers include Allegheny Wesleyan, Art Academy of Cincinnati, University of Health Sciences and Pharmacy in St. Louis, Dominican University of California, and Kettering University. These are mostly dissimilar institutions -- the peer algorithm struggles with small specialized colleges. More meaningful comparisons are to other single-purpose nursing colleges: Bellin College of Nursing (Wisconsin), Allen College (Iowa), and similar health-system-affiliated nursing schools. Among that group, Mount Carmel's net price ($10,420) and earnings premium (98th percentile subscore) are competitive, constrained only by the completion rate.
| School | ROI | Net Price | 10yr Earnings |
|---|---|---|---|
| Mount Carmel College of Nursing (this school) | 87 | $10,420 | $75,103 |
| Kettering University | 88 | $34,660 | $94,823 |
| University of Health Sciences and Pharmacy in St. Louis | 88 | $31,817 | $137,047 |
| Dominican University of California | 81 | $35,333 | $84,713 |
| Allegheny Wesleyan College | 29 | $5,355 | $37,453 |
| Art Academy of Cincinnati | 9 | $34,253 | $34,368 |
Who Thrives Here
Mount Carmel admits 84.3% of applicants with no test score ranges reported. Enrollment is 532 -- a very small, single-purpose nursing college with direct health system affiliation. The 32.7% Pell rate is moderate for a specialized health professions college. Students who enroll know exactly what they are getting: a nursing credential from an institution embedded in the Columbus healthcare system. The proximity to Mount Carmel Health System provides clinical training and a direct employment pipeline. Students should understand the 53.9% completion rate before enrolling and ask about the institution's academic support and retention programs.
The Verdict: The Investment Pays Off
Mount Carmel College of Nursing delivers above-average financial returns for its graduates. At a net cost of $10,420 per year ($41,680 over four years), graduates earn a median of $75,103 ten years after enrollment. That puts the payback period at roughly 4.5 years - a solid return on the investment.
The data highlights several strengths: strong earnings premium over high school graduates, manageable debt relative to earnings, high loan repayment success.
Median debt of $22,082 is very manageable against $75,103 in annual earnings - well within the financial advisor rule of thumb that total debt should not exceed first-year salary.
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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.