Spalding University
Louisville, Kentucky · Private Nonprofit · 99.5% acceptance rate
ROI Score: 31/100 · Below Benchmark
Data: 2024-25 College Scorecard release
Spalding University earns a CampusROI score of 31 out of 100, landing in the Below Benchmark tier. The Louisville Catholic university posts mixed financial data: average earnings six years out of $38,000 climb to a median $49,438 by year ten, the payback period is 16.8 years, and the 0.66 debt-to-earnings ratio against $25,250 in median federal debt produces a sub-score of 36. Sticker tuition is $29,200 and average net price after aid is $25,491, with four-year cost landing at $101,964. The earnings premium of 14.2% over high-school-only workers is modest. The biggest weakness is the repayment rate of 58.3% (sub-score 16), signaling that more than 40% of borrowers struggle to make active progress on principal. The data is bimodal by major: nursing, accounting, and business produce solid C and C+ outcomes, while psychology and fine arts post D and F grades. The school's strong Registered Nursing program (52 graduates per cohort, $65,552 in year-one earnings) is the financial anchor, and prospective students should evaluate Spalding through the lens of which program they're entering. Nursing-bound students get a defensible deal; general liberal-arts students face tougher math.
How Spalding University 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 Score31/100 - Below Benchmark tier of our scale (below 45). For context, 38% of the schools we score reach 60 or higher.
- Payback period16.8 years - The median payback across the schools we score is about 12 years.
Spalding University
Quick Numbers
| In-state tuition + fees | $29,200/yr |
| Out-of-state tuition + fees | $29,200/yr |
| Average net price | $25,491/yr |
| Total 4-year cost (net) | $101,964 |
| Median earnings (10yr post-entry) | $49,438 |
| Average earnings (6yr post-entry) | $38,000 |
| Median debt at graduation | $25,250 |
| Estimated monthly loan payment | $268 |
| Estimated payback period | 16.8 years |
| 6-year graduation rate | 51.7% |
| Undergraduate enrollment | 583 |
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: $29,200/year, which covers tuition and fees only. After grants, scholarships, and aid, the average student here pays a net price of $25,491/year, or roughly $101,964 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 $20,509/year here, while families earning over $110,000 pay $29,278/year.
Among graduates who borrowed, the median federal loan debt from this school is $25,250, which works out to about $268 a month on the standard 10-year repayment plan. Our debt-to-earnings ratio divides that debt by average earnings six years after entry ($38,000) and comes to 0.66, under 1.0, meaning median debt is less than 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 | $20,509 |
| $30,001 - $48,000 | $22,475 |
| $48,001 - $75,000 | $24,378 |
| $75,001 - $110,000 | $28,122 |
| $110,001+ | $29,278 |
Cost by Income Bracket Explained
Lower-income families (under $30K)
Families earning under $30,000 face an average net price of $20,509 per year, totaling roughly $82,000 across four years. With Pell, KY KEES, and Spalding institutional aid stacking, low-income students who finish a nursing or health-sciences credential see workable cost-versus-earnings math. General-degree students pay the same $20,509 a year.
Middle-income families ($30K-$110K)
The $48,001 to $75,000 bracket pays $24,378 per year and the $75,001 to $110,000 bracket pays $28,122. Four-year totals are $97,500 to $112,500.
Higher-income families ($110K+)
Families above $110,000 pay $29,278 per year, near full sticker. Four-year cost approaches $117,100. The aid curve flattens at the top with little institutional discount remaining.
Earnings by Major
Top 6 most popular majors at Spalding University with available earnings data.
| Major | Median Earnings | Grade |
|---|---|---|
| Registered Nursing | $77,983 | C+ |
| Health Services/Allied Health/Health Sciences, General | $59,761 | D |
| Business Administration and Management | $63,325 | C |
| Psychology | $41,460 | D |
| Accounting | $65,288 | C+ |
| Fine and Studio Arts | $36,416 | 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.
Registered Nursing
Registered Nursing is the dominant program at Spalding with 52 graduates per cohort, the largest cohort by far. Year-one earnings of $65,552 climb to $77,983 by year four. With $30,750 in median debt, the 0.47 debt-to-earnings ratio earns a C+ ROI grade. This is the strongest program at the school and the financial story that rescues borrowing students. Louisville-market RN demand is strong and graduates clear their debt on standard repayment in well under ten years.
Health Services/Allied Health/Health Sciences, General
Allied Health graduates 31 students per cohort, the second-largest cohort. Year-one earnings of $33,822 climb to $59,761 by year four. With $27,675 in debt, the 0.82 debt-to-earnings ratio earns a D ROI grade. The four-year trajectory suggests progression into licensed allied-health roles (radiography, sonography, similar) where licensure substantially improves earnings.
Business Administration and Management
Business graduates 22 students per cohort with year-one earnings of $47,596 rising to $63,325 by year four. With $31,000 in median debt, the 0.65 ratio earns a C ROI grade. Louisville-market business-graduate placement supports the four-year number.
Psychology
Psychology graduates 18 students per cohort with year-one earnings of $40,262 essentially flat at $41,460 by year four (an unusually shallow trajectory). Median debt of $31,750 produces a 0.79 ratio and a D ROI grade. The flat four-year earnings curve suggests most graduates are not pursuing the graduate study that typically drives psych-major earnings growth.
Fine and Studio Arts
Fine Arts graduates just 6 students per cohort. Year-one earnings of only $14,940 rise to $36,416 by year four. Median debt of $27,000 produces a 1.81 debt-to-earnings ratio against year-one earnings, the worst on the page, earning an F ROI grade. The cohort is small enough that the year-one data may include outliers, but the F grade reflects the structural reality of the field. Check the borrowing needed for this credential at this price.
How Graduates Do
Earnings
Loan Repayment
| Metric | This School | Median of schools we score |
|---|---|---|
| 1-year repayment | 53.5% | 68.8% |
| 3-year repayment | 58.3% | 73.6% |
| 5-year repayment | 51.1% | 67.7% |
| 7-year repayment | 58.6% | 72.8% |
Completion Rate
Trends Over Time
How Spalding University’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
| Acceptance rate | 99.5% |
| SAT Math (25th-75th) | 435-525 |
| SAT Reading (25th-75th) | 440-513 |
| ACT Composite (25th-75th) | 15-22 |
| Enrollment | 583 |
| Pell Grant recipients | 35.8% |
| Avg faculty salary (monthly) | $8,066 |
Spalding admits 99.5% of applicants, an essentially universal admit posture. Reported SAT mid-ranges are 435 to 525 in math and 440 to 513 in reading; ACT composite is 15 to 22.
Compared to Similar Schools
Peer institutions matched by type, size, and selectivity.
| School | ROI | Net Price | 10yr Earnings |
|---|---|---|---|
| Spalding University (this school) | 31 | $25,491 | $49,438 |
| North Central University | 33 | $25,817 | $45,064 |
| Calumet College of Saint Joseph | 29 | $22,451 | $46,945 |
| Asbury University | 29 | $21,401 | $42,368 |
| Talmudical Seminary of Bobov | 20 | $2,840 | $22,432 |
| Alice Lloyd College | 18 | $18,600 | $40,573 |
Who Thrives Here
Spalding serves about 583 students with a 35.8% Pell rate. The fit case is concentrated for Louisville-area students entering the strong nursing or allied-health pipelines (52 nursing grads, 31 health-sciences grads make up nearly 30% of program-reported graduates). The university's Catholic and social-justice identity draws students seeking a values-aligned, urban setting.
The Verdict: Below Benchmark Under Our Scoring
Under our methodology, Spalding University scores 31/100, which falls in the Below Benchmark tier (below 45). At a net price of $25,491 per year, with typical graduate earnings of $49,438 ten years after entry, we estimate the payback period at about 16.8 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, its 51.7% graduation rate, a debt-to-earnings ratio of 0.66 (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 $25,250 among graduates who borrowed, against average earnings of $38,000 six years after entry, gives a debt-to-earnings ratio of 0.66. That is under 1.0 (a full year of those earnings); the median across the schools we score is about 0.61. Your major - and how much you borrow - really matters.
Spalding University: Common Questions
Is Spalding University worth it?
In our view, the financial case is a hard one to make on the numbers alone. Spalding University scores 31/100 on our ROI scale, in the Below Benchmark tier (below 45). At $25,491 a year after aid against $49,438 in typical earnings ten years out, we estimate the payback period at about 16.8 years. Your major and aid package can change the picture, so run your own numbers.
How much does Spalding University 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 $25,491 a year, or roughly $101,964 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 Spalding University graduates earn?
The typical graduate earns about $49,438 ten years after enrolling, roughly $7,638 a year more than the median high-school graduate ($41,800, per NCES, 2022). That earnings gap is what has to cover the cost of the degree.
How long does it take to pay off Spalding University?
We estimate the payback period - the time it takes for the earnings bump over a high-school graduate to cover what you spent - at about 16.8 years for Spalding University. The median across the schools we track is about 12 years.
How much debt do Spalding University graduates take on?
Among graduates who borrowed, median federal loan debt from this school is about $25,250, against average earnings of $38,000 six years after entry - a debt-to-earnings ratio of 0.66. That is under 1.0 (a full year of those earnings); the median across the schools we score is about 0.61. How much you borrow really matters.
What is the graduation rate at Spalding University?
The six-year graduation rate is 51.7%. 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.
NewsletterCollege decisions are better with data.
From CampusROI, when there is 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.