Pennsylvania Academy of the Fine Arts
Philadelphia, Pennsylvania · Private Nonprofit
ROI Score: 14/100 · Poor Value
Pennsylvania Academy of the Fine Arts (PAFA) earns a Poor Value ROI score of 14 -- one of the lowest in our database, and a near-mathematical impossibility to recover financially through earnings. The 999-year payback period is a flag: in plain terms, graduate earnings never recoup the cost of attendance. Median earnings are $21,200 six years after entry and just $29,881 at year 10, well below high-school-graduate medians. Debt-to-earnings sits at 1.052 (subscore 4), meaning typical undergraduate debt of $22,309 exceeds first-year earnings. Earnings premium is negative at -3% (subscore 5) -- graduates earn less than non-college peers in the labor market. Completion rate is the only relative strength at 57.6%, but that means students are reliably finishing a credential whose labor-market value is severely limited. Net price of $42,454 against $44,600 sticker tuition produces a 4-year cost of $169,816. As a specialized fine-art conservatory, PAFA's mission is artistic training, not earnings maximization -- but as a federally subsidized institution, the gap between cost and outcomes is severe enough to warrant a hard pause before borrowing.
The data raises concerns about Pennsylvania Academy of the Fine Arts
These metrics fall below the thresholds most financial advisors recommend for a sound college investment. Review them carefully before committing.
- ROI Score14/100 - Poor Value tier (below 45). Most 4-year schools we track score 60 or higher.
- Debt-to-earnings1.05 - Advisors recommend total student debt stay below one year of salary (ratio under 1.0).
- Payback period>50 years - Graduates earn at or near the level of high school completers — the cost may not recoup within a working career.
Pennsylvania Academy of the Fine Arts
Quick Numbers
| In-state tuition + fees | $44,600/yr |
| Out-of-state tuition + fees | $44,600/yr |
| Average net price | $42,454/yr |
| Total 4-year cost (net) | $169,816 |
| Median earnings (10yr post-entry) | $29,881 |
| Median earnings (6yr post-entry) | $21,200 |
| Median debt at graduation | $22,309 |
| Estimated monthly loan payment | $237 |
| Estimated payback period | >50 years |
| 6-year graduation rate | 57.6% |
| Undergraduate enrollment | 23 |
Data as of 2024-2025. Source: College Scorecard API (U.S. Department of Education).
The Full Financial Picture
The sticker price at Pennsylvania Academy of the Fine Arts is $44,600/year. But sticker price isn't what most students pay. After grants, scholarships, and financial aid, the average student pays a net price of $42,454/year, or roughly $169,816 over four years.
That net price varies significantly by family income. The lowest-income families (under $30,000/year) pay an average of $39,928/year, while families earning over $110,000 pay $46,702/year.
The median graduate leaves with $22,309 in federal loan debt, translating to an estimated monthly payment of $237 on a standard 10-year repayment plan. Against median earnings of $29,881 ten years out, the debt-to-earnings ratio is 1.05 - above the recommended threshold where total debt should not exceed first-year salary.
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 | $39,928 |
| $30,001 - $48,000 | $42,301 |
| $48,001 - $75,000 | $42,893 |
| $75,001 - $110,000 | $44,893 |
| $110,001+ | $46,702 |
Cost by Income Bracket Explained
Lower-income families (under $30K)
Families under $30,000 pay $39,928 net annually. Across four years that's roughly $160,000 -- a sum that produces a debt load most low-income graduates will spend decades servicing. With first-year median earnings of $10,780 in fine arts, the math does not work for traditional borrowers. Pell-eligible students should not borrow at this scale unless external grants substantially cover the cost.
Middle-income families ($30K-$110K)
The $48,001-$75,000 bracket pays $42,893, and $75,001-$110,000 pays $44,893 -- close to sticker. Four-year cost lands near $172,000-$180,000. With graduate earnings stalling around $30,000, debt service consumes a punishing share of post-graduation income. Middle-income families should treat this as a discretionary purchase, not an investment.
Higher-income families ($110K+)
Families above $110,000 pay $46,702 net annually -- actually higher than published tuition due to fees and indirect costs. At nearly $187,000 over four years, this is one of the most expensive bottom-quintile-ROI propositions available. Full-pay families with strong artistic commitment can absorb the cost as a chosen vocation; those expecting standard ROI should consider art programs at strong public universities with significantly lower borrowing requirements.
Earnings by Major
Top 1 most popular majors at Pennsylvania Academy of the Fine Arts with available earnings data.
| Major | Median Earnings | Grade |
|---|---|---|
| Fine and Studio Arts | $31,131 | F |
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.
Fine and Studio Arts
The single program at PAFA earns an F grade. With $10,780 first-year earnings rising only to $31,131 by year four, and median debt of $27,000, the debt-to-earnings ratio reaches 2.505 -- typical graduates carry debt 2.5x their starting salary. Of 22 annual graduates, most enter freelance or low-wage adjunct studio work; gallery representation and tenured teaching positions are rare. Career success in fine arts is overwhelmingly determined by talent, network, and portfolio quality rather than credential, which limits the bachelor's degree's economic signaling power.
How Graduates Do
Earnings
Loan Repayment
| Metric | This School | Nat'l Avg |
|---|---|---|
| 1-year repayment | 54.9% | 52.0% |
| 3-year repayment | 58.3% | 62.0% |
| 5-year repayment | 67.2% | 68.0% |
| 7-year repayment | 63.2% | 72.0% |
Completion Rate
Admissions Snapshot
| Enrollment | 23 |
| Pell Grant recipients | 35.4% |
| Avg faculty salary (monthly) | $4,469 |
Admission rate is not reported in current Scorecard data, and PAFA does not publish standardized test medians -- consistent with most arts conservatories that admit primarily on portfolio review. Selectivity here is artistic rather than academic. The 57.6% completion rate is reasonable for an arts-focused program where attrition often reflects career path changes rather than academic struggle.
Compared to Similar Schools
Peer institutions matched by type, size, and selectivity.
Peer schools include Bryn Athyn College of the New Church, Albright College, Boston Baptist College, Sterling College (VT), and Messenger College -- a peer set of small specialized institutions. PAFA's 14 ROI score sits at the bottom of the peer set; small religiously-affiliated peers (Bryn Athyn, Boston Baptist, Messenger) typically score in the 25-40 range. Sterling College's environmental focus and Albright's traditional liberal-arts model both produce stronger earnings outcomes than PAFA's pure fine-arts conservatory model.
| School | ROI | Net Price | 10yr Earnings |
|---|---|---|---|
| Pennsylvania Academy of the Fine Arts (this school) | 14 | $42,454 | $29,881 |
| Moore College of Art and Design | 18 | $43,086 | $37,839 |
| Maine College of Art & Design | 17 | $38,338 | $40,778 |
| Northwest College of Art & Design | 17 | $16,418 | $31,167 |
| California College of ASU | 14 | $17,683 | $42,014 |
| Montserrat College of Art | 13 | $33,216 | $33,022 |
Who Thrives Here
Enrollment is extremely small at 23 students, with 35.4% Pell-eligible. PAFA fits committed studio artists pursuing a BFA in painting, sculpture, or printmaking who treat the experience as artistic apprenticeship rather than economic investment. Students with substantial outside resources (family, scholarships, or grants offsetting full borrowing) and clear post-graduation art-world plans -- gallery representation, MFA pathways, or residencies -- can extract meaningful value. Students borrowing at full price expecting standard wage outcomes will face severe financial stress.
The Verdict: The Numbers Don't Add Up
The financial data raises serious concerns about Pennsylvania Academy of the Fine Arts. With a net cost of $42,454 per year and median graduate earnings of only $29,881 ten years out, the estimated payback period exceeds >50 years. For most students, the financial return does not justify the cost.
Areas of concern include weak earnings relative to cost and high debt relative to what graduates earn and concerning loan repayment rates and a long payback period.
Median debt of $22,309 against $29,881 in earnings is concerning. The debt-to-earnings ratio of 0.75 exceeds the commonly recommended threshold. Major choice is critical here.
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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.