Pennsylvania Academy of the Fine Arts
Philadelphia, Pennsylvania · Private Nonprofit
ROI Score: 14/100 · Below Benchmark
Data: 2024-25 College Scorecard release
Pennsylvania Academy of the Fine Arts (PAFA) earns a Below Benchmark ROI score of 14. The 999-year payback period is a flag: in plain terms, graduate earnings never recoup the cost of attendance. 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 workers 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.
How Pennsylvania Academy of the Fine Arts scores under our methodology
These are the College Scorecard measures that pull this school's CampusROI score down. They describe the published figures, not the quality of the education, and they are our reading of the data. Check them against your own aid offer and intended major.
- ROI Score14/100 - Below Benchmark tier of our scale (below 45). For context, 38% of the schools we score reach 60 or higher.
- Debt-to-earnings1.05 - Median debt is larger than one year of average earnings six years after entry (a ratio above 1.0).
- Payback period>50 years - In our estimate, the earnings premium over a high school completer is small next to the cost, so the cost may not be recouped 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 |
| Average 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 first number you'll see is the sticker price: $44,600/year, which covers tuition and fees only. After grants, scholarships, and aid, the average student here pays a net price of $42,454/year, or roughly $169,816 over four years. That's the number to plan around.
What you actually pay depends a lot on what your family earns. Families making under $30,000/year pay an average of $39,928/year here, while families earning over $110,000 pay $46,702/year.
Among graduates who borrowed, the median federal loan debt from this school is $22,309, which works out to about $237 a month on the standard 10-year repayment plan. Our debt-to-earnings ratio divides that debt by average earnings six years after entry ($21,200) and comes to 1.05, 1.0 or higher, meaning median debt is at least a full year of those earnings.
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. Graduate earnings are around $30,000. 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, the cost is steep for the return. Full-pay families with strong artistic commitment can absorb the cost as a chosen vocation.
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.
How Graduates Do
Earnings
Loan Repayment
| Metric | This School | Median of schools we score |
|---|---|---|
| 1-year repayment | 54.9% | 68.8% |
| 3-year repayment | 58.3% | 73.6% |
| 5-year repayment | 67.2% | 67.7% |
| 7-year repayment | 63.2% | 72.8% |
Completion Rate
Trends Over Time
How Pennsylvania Academy of the Fine Arts’s cost and outcomes have moved across College Scorecard releases (2009-2024).
Average Net Price
Completion Rate
Median Earnings, 10 Years After Entry (as reported)
Earnings reflect borrowers measured 10 years after entry and publish on an irregular cadence with a multi-year reporting lag, so this series shows only the years the Department of Education reported - the data is never interpolated.
Source: U.S. Department of Education College Scorecard, release years shown. Net price and completion are reported annually.
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.
Compared to Similar Schools
Peer institutions matched by type, size, and selectivity.
| 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: Below Benchmark Under Our Scoring
Under our methodology, Pennsylvania Academy of the Fine Arts scores 14/100, which falls in the Below Benchmark tier (below 45). At a net price of $42,454 per year, with typical graduate earnings of $29,881 ten years after entry, we estimate the payback period at more than 50 years. In our view that makes the financial case a hard one to make on the numbers alone, but those numbers are averages: your major, your aid package and what you want from a degree all change the picture, so run your own numbers before you commit.
What to keep an eye on: weak earnings relative to cost, a debt-to-earnings ratio of 1.05 (median across the schools we score: 0.61), a three-year loan repayment rate of 58.3% (median across the schools we score: 73.6%), a long payback period.
Median debt of $22,309 among graduates who borrowed, against average earnings of $21,200 six years after entry, gives a debt-to-earnings ratio of 1.05. That is 1.0 or higher, meaning median debt is at least a full year of those earnings, so your major - and how much you borrow - really matters.
Pennsylvania Academy of the Fine Arts: Common Questions
Is Pennsylvania Academy of the Fine Arts worth it?
In our view, the financial case is a hard one to make on the numbers alone. Pennsylvania Academy of the Fine Arts scores 14/100 on our ROI scale, in the Below Benchmark tier (below 45). At $42,454 a year after aid against $29,881 in typical earnings ten years out, we estimate the payback period at more than 50 years. Your major and aid package can change the picture, so run your own numbers.
How much does Pennsylvania Academy of the Fine Arts cost after financial aid?
The average net price - the cost of attendance (tuition, fees, books, supplies and average living costs) minus grants and scholarships, for full-time, first-time students receiving federal aid - is about $42,454 a year, or roughly $169,816 over four years. Because it counts living costs, it can run above tuition alone. That is the number to plan around. Actual cost varies by family income, per the U.S. Department of Education's College Scorecard.
What do Pennsylvania Academy of the Fine Arts graduates earn?
The typical graduate earns about $29,881 ten years after enrolling, at or below the $41,800 median for high-school graduates (NCES, 2022). With little earnings gap to cover the cost, the financial return is hard to make.
How long does it take to pay off Pennsylvania Academy of the Fine Arts?
We estimate the payback period - the time it takes for the earnings bump over a high-school graduate to cover what you spent - at more than 50 years for Pennsylvania Academy of the Fine Arts. The median across the schools we track is about 12 years.
How much debt do Pennsylvania Academy of the Fine Arts graduates take on?
Among graduates who borrowed, median federal loan debt from this school is about $22,309, against average earnings of $21,200 six years after entry - a debt-to-earnings ratio of 1.05. That is 1.0 or higher, meaning median debt is at least a full year of those earnings, so how much you borrow really matters.
What is the graduation rate at Pennsylvania Academy of the Fine Arts?
The six-year graduation rate is 57.6%. The national average for four-year schools is 64% (NCES, 2022). Completion is 15% of our ROI score, since a degree you don't finish rarely pays back.
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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.