The University of Montana
Missoula, Montana · Public · 95.9% acceptance rate
ROI Score: 33/100 · Poor Value
The University of Montana, the state's flagship liberal arts research university in Missoula, earns an ROI score of 33 (Poor Value tier) -- a surprising number for a flagship public, but one the underlying data supports. In-state tuition is reasonable at $8,552, but the average net price runs $16,784 (about $67,136 over four years), and out-of-state tuition is a much steeper $33,671. The drag on the score is the earnings curve: median earnings six years after entry are only $33,900, climbing to $44,511 by year ten -- well below most flagship publics. Montana's compressed wage structure (lots of natural-resources, hospitality, and nonprofit employment) caps what graduates earn even with a quality degree. The 21.8-year payback period and 0.66 debt-to-earnings ratio reflect that ceiling. Median debt of $22,400 is moderate. Completion rate of 48% is mediocre for a flagship. The 78% three-year repayment rate is the relative bright spot. UM is a real flagship with strong programs in journalism, environmental sciences, forestry, and creative writing, but prospective students need to understand that the post-graduation earnings reality of staying in Montana is materially below what the same degree would yield in Denver, Seattle, or Minneapolis.
The data raises concerns about The University of Montana
These metrics fall below the thresholds most financial advisors recommend for a sound college investment. Review them carefully before committing.
- ROI Score33/100 - Poor Value tier (below 45). Most 4-year schools we track score 60 or higher.
- Payback period21.8 years - Most 4-year schools we track have payback periods of 4-10 years.
The University of Montana
Quick Numbers
| In-state tuition + fees | $8,552/yr |
| Out-of-state tuition + fees | $33,671/yr |
| Average net price | $16,784/yr |
| Total 4-year cost (net) | $67,136 |
| Median earnings (10yr post-entry) | $44,511 |
| Median earnings (6yr post-entry) | $33,900 |
| Median debt at graduation | $22,400 |
| Estimated monthly loan payment | $237 |
| Estimated payback period | 21.8 years |
| 6-year graduation rate | 48.0% |
| Undergraduate enrollment | 7,488 |
Data as of 2024-2025. Source: College Scorecard API (U.S. Department of Education).
The Full Financial Picture
The sticker price at The University of Montana is $8,552/year ($33,671/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 $16,784/year, or roughly $67,136 over four years.
That net price varies significantly by family income. The lowest-income families (under $30,000/year) pay an average of $13,960/year, while families earning over $110,000 pay $20,930/year.
The median graduate leaves with $22,400 in federal loan debt, translating to an estimated monthly payment of $237 on a standard 10-year repayment plan. Against median earnings of $44,511 ten years out, the debt-to-earnings ratio is 0.66 - 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 | $13,960 |
| $30,001 - $48,000 | $14,892 |
| $48,001 - $75,000 | $17,180 |
| $75,001 - $110,000 | $19,269 |
| $110,001+ | $20,930 |
Cost by Income Bracket Explained
Lower-income families (under $30K)
Families under $30,000 pay $13,960 net, the lowest tier on offer. With Pell, Montana University System Honor Scholarship, and federal loans, the four-year out-of-pocket runs roughly $56,000. Manageable on paper, but the 0.66 debt-to-earnings ratio at graduation says the earnings reality strains repayment for low-income graduates who stay in Montana.
Middle-income families ($30K-$110K)
The $30,001-$48,000 bracket pays $14,892 and $48,001-$75,000 pays $17,180. Across the middle range, four-year cost is roughly $60,000-$69,000. With Montana's compressed wage curve producing a 21.8-year payback, middle-income families need to be deliberate about major selection -- MIS, accounting, and business pencil; English, fine arts, and journalism do not.
Higher-income families ($110K+)
Families earning $75,001-$110,000 pay $19,269 and $110,001-plus pays $20,930 -- effectively full-pay in-state at roughly $77,000-$84,000 over four years. For Montana residents this is reasonable. For out-of-state full-pay families ($33,671 sticker tuition), the calculus shifts: at $134,000+ over four years out-of-state, UM's flagship value proposition has to compete with Washington, Oregon, Colorado, and Minnesota flagships at similar cost.
Earnings by Major
Top 10 most popular majors at The University of Montana with available earnings data.
| Major | Median Earnings | Grade |
|---|---|---|
| Psychology | $46,192 | F |
| Natural Resources Conservation | $43,813 | D |
| Wildlife and Wildlands Science and Management | $43,286 | D |
| Teacher Education | $43,347 | C |
| Business Administration, Management, and Operations | $57,892 | C |
| Sociology | $51,708 | C |
| Physiology, Pathology and Related Sciences | $32,671 | C |
| Biology | $37,771 | C |
| Social Work | $46,459 | D |
| International Relations | $47,341 | 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.
Management Information Systems
MIS is the strongest ROI program at UM by a wide margin. First-year median earnings of $54,816 climb to $73,149 by year four, and median debt of $23,250 produces a 0.42 debt-to-earnings ratio and a B ROI grade -- the only B on UM's program list. Small program (5 graduates), but for analytically-minded business students, this is the best financial bet on campus.
Accounting
Accounting earns a C+ ROI grade with $47,164 first-year and $61,408 four-year median earnings against $23,500 median debt (0.50 debt-to-earnings). 18 graduates per cohort feed Montana's CPA pipeline plus regional public-accounting employers. Combined with the school's strong College of Business, this is the second-strongest financial track at UM.
Business Administration, Management, and Operations
Business Administration is one of UM's largest programs (59 graduates) with $37,784 first-year and $57,892 four-year median earnings. Median debt of $23,923 produces a 0.63 debt-to-earnings ratio and a C ROI grade -- workable but not stellar. The earnings ceiling reflects Montana's regional labor market; graduates moving to Denver, Salt Lake, or Seattle see materially better outcomes.
Teacher Education
Teacher Education is one of UM's largest programs at 60 graduates per cohort. First-year earnings of $36,142 grow to $43,347 by year four, with $24,880 median debt producing a 0.69 debt-to-earnings ratio and a C ROI grade. In line with Montana K-12 pay scales -- the program does its job for students who want to teach in Montana, but the earnings ceiling is structural.
Psychology
Psychology is UM's largest program at 99 graduates and posts an F ROI grade. First-year earnings of $25,023 against $27,000 median debt produce a 1.08 debt-to-earnings ratio -- graduates owe more in debt than they earn in their first year. Without graduate study, the bachelor's-only psychology track at UM is one of the weakest financial bets on campus. Students drawn to psychology should plan for an MA or PsyD path or pivot to a more directly-employable adjacent major.
How Graduates Do
Earnings
Loan Repayment
| Metric | This School | Nat'l Avg |
|---|---|---|
| 1-year repayment | 71.6% | 52.0% |
| 3-year repayment | 77.5% | 62.0% |
| 5-year repayment | 64.7% | 68.0% |
| 7-year repayment | 70.9% | 72.0% |
Completion Rate
Admissions Snapshot
| Acceptance rate | 95.9% |
| ACT Composite (25th-75th) | 23-28 |
| Enrollment | 7,488 |
| Pell Grant recipients | 28.0% |
| Avg faculty salary (monthly) | $9,310 |
UM admits 96% of applicants -- nearly open admission. ACT mid-range is 23-28, which is solidly above national medians and indicates that despite the broad admit rate, enrolled students arrive reasonably well-prepared. SAT mid-ranges are not reported, likely because Montana students lean heavily toward ACT. The 48% completion rate is below what the academic preparation level alone would predict, suggesting financial stop-out, transfer to in-state alternatives, or weather/geography-driven attrition.
Compared to Similar Schools
Peer institutions matched by type, size, and selectivity.
Within Montana, peers include Montana State University Billings and Montana Technological University, both regional publics with narrower mission. Austin Peay State University (TN), Idaho State University, and Pennsylvania Western University are out-of-state regional publics with similar Pell rates and earnings profiles. Idaho State is the closest comparable in scale and rural-Mountain-West labor market. Across this peer set, UM's ROI score sits in the middle -- not the strongest of the cohort, but better than several. The peer comparison highlights how compressed earnings ceilings constrain ROI even at well-regarded regional flagships.
| School | ROI | Net Price | 10yr Earnings |
|---|---|---|---|
| The University of Montana (this school) | 33 | $16,784 | $44,511 |
| Montana Technological University | 69 | $16,481 | $54,329 |
| Idaho State University | 38 | $12,193 | $45,608 |
| Pennsylvania Western University | 37 | $18,256 | $47,295 |
| Austin Peay State University | 36 | $9,735 | $44,301 |
| Montana State University Billings | 34 | $16,524 | $44,296 |
Who Thrives Here
With 7,488 students and a 28% Pell rate, UM is mid-sized and serves a more affluent and academically-prepared cohort than most schools in our database. The fit profile is clear: students who want a liberal arts and natural-resources flagship in a beautiful Western college town, who plan to live and work in the Mountain West, and who select majors carefully. Strongest tracks by graduate count and outcomes: Management Information Systems (B grade), Business Administration, Accounting (C+), and Teacher Education at scale. The school's earnings ceiling is a real constraint -- students should pick high-earnings majors or plan to relocate post-graduation.
The Verdict: The Numbers Don't Add Up
The financial data raises serious concerns about The University of Montana. With a net cost of $16,784 per year and median graduate earnings of only $44,511 ten years out, the estimated payback period exceeds 21.8 years. For most students, the financial return does not justify the cost.
Areas of concern include weak earnings relative to cost and a 48.0% graduation rate and high debt relative to what graduates earn and a long payback period.
Median debt of $22,400 against $44,511 in earnings is reasonable, though major choice matters significantly. Students in higher-earning programs will see better returns.
NewsletterCollege decisions are better with data.
New analyses, updated school profiles, and tools - when there’s 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.