Northwestern University
Evanston, Illinois · Private Nonprofit · 7.7% acceptance rate
ROI Score: 94/100 · Exceptional Value
Northwestern sits in Evanston, Illinois, a 10-minute train ride from Chicago. Its ROI score is 94 -- Exceptional Value -- driven by a 95.1% completion rate, $89,363 median 10-year earnings, and a debt-to-earnings ratio of just 0.209. Tuition sticker is $68,322, but the net price after aid averages $29,167. What makes Northwestern distinct is its combination of elite research credentials and professional school strength: the Medill School of Journalism and Kellogg School of Management both carry national reputations. The 9,201-student enrollment keeps class sizes manageable for a research university. The payback period is 4.7 years -- faster than most private peers. Top earning programs include Information Science ($163,740 at 10 years) and Computer Science ($155,106). The school's location in a major media and financial center means strong internship pipelines for Medill journalism and communication students, though those programs show lower earnings relative to STEM.
The median graduate earns $89,363 ten years after entry - well above the national median of roughly $55,000 for 4-year college graduates.
Northwestern University
Quick Numbers
| In-state tuition + fees | $68,322/yr |
| Out-of-state tuition + fees | $68,322/yr |
| Average net price | $29,167/yr |
| Total 4-year cost (net) | $116,668 |
| Median earnings (10yr post-entry) | $89,363 |
| Median earnings (6yr post-entry) | $71,900 |
| Median debt at graduation | $15,000 |
| Estimated monthly loan payment | $159 |
| Estimated payback period | 4.7 years |
| 6-year graduation rate | 95.1% |
| Undergraduate enrollment | 9,201 |
Data as of 2024-2025. Source: College Scorecard API (U.S. Department of Education).
The Full Financial Picture
The sticker price at Northwestern University is $68,322/year. But sticker price isn't what most students pay. After grants, scholarships, and financial aid, the average student pays a net price of $29,167/year, or roughly $116,668 over four years.
That net price varies significantly by family income. The lowest-income families (under $30,000/year) pay an average of $1,764/year, while families earning over $110,000 pay $48,777/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 $15,000 in federal loan debt, translating to an estimated monthly payment of $159 on a standard 10-year repayment plan. Against median earnings of $89,363 ten years out, the debt-to-earnings ratio is 0.21 - 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 | $1,764 |
| $30,001 - $48,000 | $6,099 |
| $48,001 - $75,000 | $7,898 |
| $75,001 - $110,000 | $18,282 |
| $110,001+ | $48,777 |
Cost by Income Bracket Explained
Lower-income families (under $30K)
Families earning under $30,000 pay a net price of just $1,764 per year -- essentially free. Northwestern's need-blind admissions and generous endowment mean low-income students who gain admission pay almost nothing. Over four years, total cost is under $7,100. This is one of the best financial aid packages in American higher education for qualifying families.
Middle-income families ($30K-$110K)
Families in the $30,001-$48,000 bracket pay $6,099 per year; those in the $48,001-$75,000 range pay $7,898. Cost stays remarkably flat for families in this income range -- a sign of generous institutional aid. At the upper middle-income range ($75,001-$110,000), annual cost jumps to $18,282, which over four years totals about $73,000 -- still substantially less than the $274,000 sticker price.
Higher-income families ($110K+)
Families earning over $110,000 pay $48,777 per year -- close to sticker for the highest earners. Over four years, that's roughly $195,000. Against median 10-year earnings of $89,363, the investment is defensible but requires careful program selection. Engineering and economics graduates will clear this investment quickly; communication and theater graduates will not. At this income level, Northwestern competes directly with other selective private schools and the cost difference is negligible.
Earnings by Major
Top 10 most popular majors at Northwestern University with available earnings data.
| Major | Median Earnings | Grade |
|---|---|---|
| Economics | $126,006 | A |
| Radio, Television, and Digital Communication | $51,471 | C |
| Psychology | $73,646 | B+ |
| Biology | $71,181 | A |
| Computer Science | $155,106 | A |
| Neurobiology and Neurosciences | $54,279 | C+ |
| International Relations | $73,231 | B+ |
| Drama/Theatre Arts and Stagecraft | $49,316 | D |
| Information Science | $163,740 | A |
| Communication and Media Studies | $93,541 | 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.
Information Science
88 graduates with 1-year earnings of $102,998 and 4-year earnings of $163,740 -- the top-earning program at Northwestern. Debt-to-earnings ratio of 0.117 (grade: A) reflects unusually low debt relative to earnings. Information science graduates move into data analytics, product management, and systems architecture roles. Chicago's financial technology sector, healthcare analytics companies, and the city's growing tech scene absorb these graduates. The program benefits from Northwestern's Kellogg-adjacent business curriculum, which adds business fluency that pure computer science programs often lack.
Computer Science
127 graduates with 1-year earnings of $99,981 and 4-year earnings of $155,106. Debt-to-earnings 0.146 (grade: A). Northwestern CS graduates enter software engineering roles at technology firms, financial services companies, and consulting practices that increasingly require coding literacy. The school's proximity to Chicago's booming tech corridor -- including major employers in fintech, healthcare IT, and logistics technology -- amplifies placement. This is one of the strongest CS programs in the Midwest by earnings outcome.
Economics
373 graduates -- the largest program by headcount -- with 1-year earnings of $84,932 and 4-year earnings of $126,006. Debt-to-earnings 0.191 (grade: A). Northwestern economics graduates flow heavily into consulting (McKinsey, BCG, Bain all recruit here), investment banking, and economic research. The Kellogg School's proximity and the Chicago economic tradition both reinforce the major's rigor. For non-technical students, economics is the highest-ROI path available at Northwestern, and the data reflects it.
Industrial Engineering
62 graduates with 1-year earnings of $89,811 and 4-year earnings of $138,720. Debt-to-earnings 0.199 (grade: A). Industrial engineering at Northwestern focuses on operations research and systems optimization -- skills in high demand from logistics companies, healthcare systems, and manufacturing firms. McCormick School of Engineering's reputation draws recruiters from companies that value quantitative problem-solving over pure software development. This is a smaller program but produces strong per-graduate outcomes.
Communication and Media Studies
82 graduates with 1-year earnings of $52,210 and 4-year earnings of $93,541. Debt-to-earnings 0.347 (grade: B+). Medill communication graduates outperform peer communication programs nationally, largely because the Northwestern brand opens doors in Chicago's media, advertising, and public affairs sectors. Entry-level earnings in the low $50s are typical for agency and media roles, but 4-year earnings above $90,000 show strong upward mobility. Students should expect to earn significantly less than engineering peers for the first 5 years while building industry experience.
How Graduates Do
Earnings
Loan Repayment
| Metric | This School | Nat'l Avg |
|---|---|---|
| 1-year repayment | 89.0% | 52.0% |
| 3-year repayment | 91.3% | 62.0% |
| 5-year repayment | 89.8% | 68.0% |
| 7-year repayment | 90.9% | 72.0% |
Completion Rate
Admissions Snapshot
| Acceptance rate | 7.7% |
| SAT Math (25th-75th) | 770-800 |
| SAT Reading (25th-75th) | 740-770 |
| ACT Composite (25th-75th) | 33-35 |
| Enrollment | 9,201 |
| Pell Grant recipients | 18.6% |
| Avg faculty salary (monthly) | $20,322 |
Northwestern admitted just 7.7% of applicants -- among the most selective universities in the country. SAT math ranges 770-800, reading 740-770; ACT composite 33-35. The admit rate signals that most qualified applicants will be rejected. Apply with safety schools in hand. The school uses holistic review with strong emphasis on demonstrated interest and intellectual depth.
Compared to Similar Schools
Peer institutions matched by type, size, and selectivity.
Northwestern's Scorecard peers include University of Notre Dame (ROI 97, completion 95.2%, 10-year earnings ~$87k) and University of Pennsylvania (strong earnings across business and engineering). Among this group, Northwestern posts comparable earnings and slightly lower completion. Notre Dame's 3.8-year payback edges Northwestern's 4.7 years, but Northwestern's net price for low-income students ($1,764) is lower than most peers. Columbia University (peer listed) posts higher average earnings but higher debt. Northwestern's 0.209 debt-to-earnings ratio is excellent for a private school, and its 95.1% completion rate signals that students who enroll actually graduate.
| School | ROI | Net Price | 10yr Earnings |
|---|---|---|---|
| Northwestern University (this school) | 94 | $29,167 | $89,363 |
| University of Notre Dame | 97 | $26,780 | $99,980 |
| University of Pennsylvania | 97 | $28,699 | $111,371 |
| Columbia University in the City of New York | 96 | $21,590 | $102,491 |
| Augustana College | 67 | $22,736 | $62,971 |
| School of the Art Institute of Chicago | 21 | $49,790 | $40,151 |
Who Thrives Here
Northwestern draws students with ACT 33-35 or SAT 1510-1570 combined -- a competitive profile. Pell rate of 18.6% is typical for highly selective private universities. Students who thrive here tend to combine academic seriousness with career intentionality. Northwestern rewards students who network aggressively: Chicago's finance, consulting, and tech employers conduct heavy on-campus recruiting. Theatre and radio-TV programs enroll students who understand these paths have long financial runways before earnings recover.
The Verdict: The Investment Pays Off
Northwestern University is one of the strongest financial investments in higher education. With a total 4-year net cost of $116,668 and median graduate earnings of $89,363 ten years out, the math works decisively in graduates' favor. The estimated payback period of 4.7 years is well below average.
The data highlights several strengths: strong earnings premium over high school graduates, a 95.1% graduation rate, manageable debt relative to earnings, high loan repayment success.
Median debt of $15,000 is very manageable against $89,363 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.