New College of Florida
Sarasota, Florida · Public · 73.2% acceptance rate
ROI Score: 61/100 · Fair Value
New College of Florida scores 61 (Fair Value) — a middling result for a small public honors institution with an unusually cheap net price but weak earnings outcomes. At $7,195 net price and $6,916 in-state tuition, New College is one of the least expensive public options in Florida. The problem is on the earnings side: $26,000 median six-year earnings is among the lowest on this site for any four-year institution, producing a 12.9-year payback period. The debt-to-earnings ratio of 0.668 is elevated despite relatively low borrowing ($17,375 median debt), because the numerator — earnings — is so low. The 66.7% completion rate is adequate. This is a school whose financial picture looks better than it is because the cost is genuinely low, but graduates struggle early in their careers.
New College of Florida
Quick Numbers
| In-state tuition + fees | $6,916/yr |
| Out-of-state tuition + fees | $29,944/yr |
| Average net price | $7,195/yr |
| Total 4-year cost (net) | $28,780 |
| Median earnings (10yr post-entry) | $48,082 |
| Median earnings (6yr post-entry) | $26,000 |
| Median debt at graduation | $17,375 |
| Estimated monthly loan payment | $184 |
| Estimated payback period | 12.9 years |
| 6-year graduation rate | 66.7% |
| Undergraduate enrollment | 843 |
Data as of 2024-2025. Source: College Scorecard API (U.S. Department of Education).
The Full Financial Picture
The sticker price at New College of Florida is $6,916/year ($29,944/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 $7,195/year, or roughly $28,780 over four years.
That net price varies significantly by family income. The lowest-income families (under $30,000/year) pay an average of $3,591/year, while families earning over $110,000 pay $13,586/year. The school provides substantial aid to low-income students, making it significantly more affordable than the sticker price suggests.
The median graduate leaves with $17,375 in federal loan debt, translating to an estimated monthly payment of $184 on a standard 10-year repayment plan. Against median earnings of $48,082 ten years out, the debt-to-earnings ratio is 0.67 - 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 | $3,591 |
| $30,001 - $48,000 | $3,582 |
| $48,001 - $75,000 | $4,880 |
| $75,001 - $110,000 | $10,204 |
| $110,001+ | $13,586 |
Cost by Income Bracket Explained
Lower-income families (under $30K)
The 0-$30,000 income bracket pays only $3,591 per year — an extraordinarily low net price. For low-income students who complete a degree and proceed to graduate school or a state government career, New College represents a genuine economic opportunity. The 33.9% Pell rate confirms the institution serves a meaningful low-income population. Caution: the 66.7% completion rate means a third of enrolling students leave without a degree, and they still face limited employment options.
Middle-income families ($30K-$110K)
The $48,001-$75,000 bracket pays $4,880 and the $75,001-$110,000 bracket rises to $10,204 per year. At these prices, New College is hard to beat on cost. The financial risk is entirely on the earnings side: the 12.9-year payback period means that even at very low net prices, median graduates take over a decade to break even — because their earnings start so low.
Higher-income families ($110K+)
Families earning $110,000 or more pay $13,586 per year — $54,344 over four years. This is cheap in absolute terms. Full-pay students who treat New College as an undergraduate launchpad for selective graduate programs get genuine value at this price. Students who expect to enter the workforce directly after graduation will face income challenges regardless of what they paid to attend.
Earnings by Major
Top 2 most popular majors at New College of Florida with available earnings data.
| Major | Median Earnings | Grade |
|---|---|---|
| Liberal Arts and Sciences | $39,137 | D |
| Interdisciplinary Studies | $41,759 | 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.
Interdisciplinary Studies
Interdisciplinary Studies (45 graduates) earns $32,858 year one and $41,759 year four with a C-grade debt-to-earnings ratio of 0.593 and $19,500 median debt. These are the better outcomes among New College's two reported programs. The four-year figure of $41,759 is below the national median for bachelor's degree holders but reflects a student population with wide career dispersion — some are in graduate school, some in non-profit work, and some in early-career professional roles.
Liberal Arts and Sciences
Liberal Arts and Sciences (55 graduates) earns only $20,395 year one and $39,137 year four with a D-grade debt-to-earnings ratio of 0.751 and $15,314 median debt. The year-one figure of $20,395 is below Florida's minimum wage on a full-time basis for many graduates, indicating that a significant share are in graduate school or underemployed immediately after graduation. The four-year trajectory is modest. This is not a financially strong program for students who need to service debt quickly.
How Graduates Do
Earnings
Loan Repayment
| Metric | This School | Nat'l Avg |
|---|---|---|
| 1-year repayment | 74.4% | 52.0% |
| 3-year repayment | 76.8% | 62.0% |
| 5-year repayment | 71.2% | 68.0% |
| 7-year repayment | 78.3% | 72.0% |
Completion Rate
Admissions Snapshot
| Acceptance rate | 73.2% |
| SAT Math (25th-75th) | 520-620 |
| SAT Reading (25th-75th) | 540-625 |
| ACT Composite (25th-75th) | 21-26 |
| Enrollment | 843 |
| Pell Grant recipients | 33.9% |
| Avg faculty salary (monthly) | $10,340 |
New College admits 73.2% of applicants with SAT Math 520-620 and Reading 540-625, ACT composite 21-26. Admission standards are higher than a 73% rate suggests — New College attracts self-selected students with strong academic records who want a non-traditional environment. The college has undergone significant governance changes since 2023; prospective students should research the current institutional direction before enrolling.
Compared to Similar Schools
Peer institutions matched by type, size, and selectivity.
New College's listed peers include University of Central Florida, Florida A&M University, Ohio University Chillicothe, Miami University Middletown, and Montana State University Northern. These are mostly large public and regional campus schools — an unusual comparison set for a small honors institution. New College is genuinely unique in the Florida system: its instructional model, scale (843 students), and mission have no direct Florida peers. UCF (a large research university with strong STEM outcomes) and FAMU serve very different student populations at higher prices. New College's 61 score reflects the tension between its exceptional affordability and its below-average earnings outcomes.
| School | ROI | Net Price | 10yr Earnings |
|---|---|---|---|
| New College of Florida (this school) | 61 | $7,195 | $48,082 |
| University of Central Florida | 79 | $10,411 | $58,308 |
| Miami University-Middletown | 63 | $10,809 | $55,076 |
| Ohio University-Chillicothe Campus | 60 | $5,755 | $52,581 |
| Montana State University-Northern | 55 | $12,664 | $49,505 |
| Florida Agricultural and Mechanical University | 28 | $13,739 | $44,349 |
Who Thrives Here
New College fits a specific student type: intellectually driven Florida residents who want a self-directed, narrative-evaluation environment at near-zero cost and who have a clear plan for graduate or professional school. The Scorecard's $26,000 six-year median understates outcomes for the subset of graduates who proceed directly to PhD programs — that path is common here. Students who want structure, campus life breadth, or career placement infrastructure will find New College sparse. The 73.2% acceptance rate makes this accessible to most prepared applicants.
The Verdict: A Reasonable Bet - With Caveats
New College of Florida offers fair financial value, though the ROI depends heavily on individual circumstances. The net cost of $7,195 per year leads to $28,780 over four years, while graduates earn a median of $48,082 a decade out. The payback period of 12.9 years is about average - not bad, but not a standout either.
Key strengths include strong earnings premium over high school graduates. However, the data also shows high debt relative to what graduates earn.
Median debt of $17,375 against $48,082 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.