Murray State University
Murray, Kentucky · Public · 85.7% acceptance rate
ROI Score: 48/100 · Below Average Value
Murray State University scores 48 (Below Average Value) on the CampusROI scale, a score primarily dragged down by an 18.1-year payback period despite a very low $9,096 net price. The issue is earnings: $33,100 median 6-year earnings are modest for a public university graduate even in Kentucky's lower-wage labor market. The 61.3% completion rate and 72.4% repayment rate are below average but not alarming. The school enrolls 6,688 students in Murray, Kentucky. Where Murray State's data is strongest is in its technical and applied programs: Engineering Physics (B+ grade, $58,025 year-one), Nursing (B grade, 85 graduates, $68,608 year-one), and Quality Control and Safety Technologies (B grade, 48 graduates, $66,418 year-one) all produce strong outcomes relative to the school's low net price. Agricultural/Animal/Plant sciences (125 graduates, B grade) is the largest strong-performing program. English Language earns an F grade with a ratio of 1.018; Fine and Studio Arts earns an F with 1.134.
The data raises concerns about Murray State University
These metrics fall below the thresholds most financial advisors recommend for a sound college investment. Review them carefully before committing.
- Payback period18.1 years - Most 4-year schools we track have payback periods of 4-10 years.
Murray State University
Quick Numbers
| In-state tuition + fees | $9,900/yr |
| Out-of-state tuition + fees | $19,836/yr |
| Average net price | $9,096/yr |
| Total 4-year cost (net) | $36,384 |
| Median earnings (10yr post-entry) | $44,737 |
| Median earnings (6yr post-entry) | $33,100 |
| Median debt at graduation | $20,500 |
| Estimated monthly loan payment | $217 |
| Estimated payback period | 18.1 years |
| 6-year graduation rate | 61.3% |
| Undergraduate enrollment | 6,688 |
Data as of 2024-2025. Source: College Scorecard API (U.S. Department of Education).
The Full Financial Picture
The sticker price at Murray State University is $9,900/year ($19,836/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 $9,096/year, or roughly $36,384 over four years.
That net price varies significantly by family income. The lowest-income families (under $30,000/year) pay an average of $6,242/year, while families earning over $110,000 pay $15,450/year.
The median graduate leaves with $20,500 in federal loan debt, translating to an estimated monthly payment of $217 on a standard 10-year repayment plan. Against median earnings of $44,737 ten years out, the debt-to-earnings ratio is 0.62 - 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 | $6,242 |
| $30,001 - $48,000 | $6,347 |
| $48,001 - $75,000 | $8,104 |
| $75,001 - $110,000 | $12,811 |
| $110,001+ | $15,450 |
Cost by Income Bracket Explained
Lower-income families (under $30K)
The 0-30000 income bracket pays $6,242 per year at Murray State -- roughly $24,968 over four years if completed. The payback period at this cost level against $33,100 median 6-year earnings is approximately 7-8 years for the median graduate -- much better than the school's overall 18.1-year figure (which reflects the average net price, not the lowest bracket). Low-income students in technical and nursing programs have a particularly strong case.
Middle-income families ($30K-$110K)
The 48001-75000 bracket pays $8,104 and the 75001-110000 bracket pays $12,811. At these levels the payback math is workable for technical and healthcare programs. For humanities and social science programs with weak earnings, even low net prices produce long payback periods given $33,100 median earnings.
Higher-income families ($110K+)
Families earning $110,000 or more pay $15,450 per year -- roughly $61,800 over four years. For high-income families considering Murray State for technical or nursing programs, the cost advantage over regional private alternatives is significant. For other programs, the earnings picture does not justify enrollment for most high-income families who have access to stronger alternatives.
Earnings by Major
Top 10 most popular majors at Murray State University with available earnings data.
| Major | Median Earnings | Grade |
|---|---|---|
| Agricultural/Animal/Plant/Veterinary Science and Related Fields, Other | $57,686 | B |
| Teacher Education | $38,132 | C |
| Accounting | $64,269 | B |
| Registered Nursing | $72,462 | B |
| Liberal Arts and Sciences | $41,797 | D |
| Business Administration and Management | $51,818 | C+ |
| Research and Experimental Psychology | $44,800 | D |
| Finance and Financial Management | $56,263 | C+ |
| Social Work | $41,165 | D |
| Quality Control and Safety Technologies/Technicians | $84,705 | 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.
Engineering Physics
Engineering Physics (38 graduates) earns a B+ grade: $58,025 year-one and $86,713 year-four with $19,521 median debt and a ratio of 0.336. This is Murray State's strongest overall program by ROI grade. Year-one earnings of $58k against a $9,096 net price produce exceptional value; the four-year trajectory to $87k is consistent with physics and engineering careers in manufacturing, defense, and energy sectors accessible from the Kentucky region.
Registered Nursing
Registered Nursing (85 graduates) earns a B grade: $68,608 year-one and $72,462 year-four with $25,082 median debt and a ratio of 0.366. Kentucky nursing wages are below the national average but the four-year figure of $72k is consistent with experienced RN salaries in regional hospital systems. Against a $9,096 net price, nursing at Murray State represents strong value for Kentucky residents.
Quality Control and Safety Technologies/Technicians
Quality Control and Safety Technologies (48 graduates) earns a B grade: $66,418 year-one and $84,705 year-four with $25,000 median debt and a ratio of 0.376. This is an unusual but high-performing program -- safety and quality assurance professionals are in demand in manufacturing and industrial sectors, which are significant employers in the Kentucky-Tennessee region. The four-year growth to $85k confirms strong career earnings in this technical specialty.
Accounting
Accounting (90 graduates) earns a B grade: $42,322 year-one and $64,269 year-four with $18,750 median debt and a ratio of 0.443. Accounting is a reliable career track at regional public universities; the Murray State result is consistent with Kentucky regional CPA and corporate accounting roles. The debt level is lower than many other programs at the school, and the four-year trajectory to $64k reflects CPA licensure and experience progression.
English Language and Literature
English Language and Literature (31 graduates) earns an F grade: $25,543 year-one and $41,383 year-four with $26,000 median debt and a ratio of 1.018. At year one, annual debt payments are close to annual earnings. The four-year figure of $41k reflects modest career progression for humanities graduates in a regional labor market. Students choosing English should have clear post-graduation plans and understand the near-term financial constraint.
How Graduates Do
Earnings
Loan Repayment
| Metric | This School | Nat'l Avg |
|---|---|---|
| 1-year repayment | 67.7% | 52.0% |
| 3-year repayment | 72.4% | 62.0% |
| 5-year repayment | 63.9% | 68.0% |
| 7-year repayment | 70.2% | 72.0% |
Completion Rate
Admissions Snapshot
| Acceptance rate | 85.7% |
| SAT Math (25th-75th) | 460-570 |
| SAT Reading (25th-75th) | 480-600 |
| ACT Composite (25th-75th) | 19-26 |
| Enrollment | 6,688 |
| Pell Grant recipients | 33.3% |
| Avg faculty salary (monthly) | $7,855 |
At 85.7% admission, Murray State accepts the large majority of applicants. ACT 19-26 reflects the broad academic range typical of regional public comprehensives. Students seeking strong outcomes should specifically target Murray State's technical, nursing, and agriculture programs, which show B and B+ grades -- considerably better than the institutional average.
Compared to Similar Schools
Peer institutions matched by type, size, and selectivity.
Scorecard peers include Eastern Kentucky University and Kentucky State University -- Kentucky public comprehensives with similar regional missions. Murray State's 48 ROI score is in line with Eastern Kentucky and below Western Kentucky University, which shows stronger earnings in healthcare-related programs. Murray State's technical and agriculture programs outperform most Kentucky public peers in ROI grade. The school's overall median earnings of $33,100 reflect the regional wage structure rather than program quality failures -- most strong programs produce nationally competitive salaries.
| School | ROI | Net Price | 10yr Earnings |
|---|---|---|---|
| Murray State University (this school) | 48 | $9,096 | $44,737 |
| University of Northern Colorado | 50 | $17,760 | $52,231 |
| Angelo State University | 49 | $15,091 | $50,116 |
| Texas A & M University-Corpus Christi | 48 | $15,225 | $51,865 |
| Eastern Kentucky University | 39 | $11,040 | $45,795 |
| Kentucky State University | 9 | $8,040 | $36,382 |
Who Thrives Here
Murray State University admits 85.7% of applicants and enrolls 6,688 students. SAT mid-ranges are 460-570 Math and 480-600 Reading; ACT composite 19-26. Pell grant rate of 33.3% reflects a significant low-to-middle income enrollment. Murray State is a regional comprehensive university serving western Kentucky and surrounding states, with particular strengths in agriculture, nursing, and engineering technology. Its location in rural western Kentucky limits post-graduation local employment options in high-wage fields, which contributes to the modest median earnings.
The Verdict: Proceed With Caution
The financial case for Murray State University is mixed. At $9,096 per year net cost, graduates earn a median of $44,737 ten years after entry - a payback period of 18.1 years. That's below the average return for four-year institutions, and prospective students should carefully consider whether the investment aligns with their financial goals.
Areas of concern include a long payback period.
Median debt of $20,500 against $44,737 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.