Thomas College
Waterville, Maine · Private Nonprofit · 96.3% acceptance rate
ROI Score: 28/100 · Poor Value
Data: 2024-25 College Scorecard release
Thomas College, a private nonprofit in Waterville, ME, scores 28 on the ROI index in Poor Value tier. Sticker tuition is $31,824 with a net price of $18,885 - meaningful aid leverage, the most aggressive discounting in our dataset. Median earnings at six years are $31,700, rising to $44,991 at 10 years. Payback period is 21.6 years, debt-to-earnings is 0.765 against $24,250 median debt, and completion rate is 53.7%. Three-year repayment rate is 71%, the strongest in the batch's bottom-tier cluster. Earnings premium is 13.2%. Enrollment is 647 with a 18% Pell rate - the lowest in our dataset, signaling a moderately middle-class student body. Thomas operates as a small Maine private with a strong career-oriented curriculum: accounting, computer science, business administration, and criminal justice all show C-level ROI grades, while psychology and clinical psychology trail. The accounting and business graduates clear $42K-$47K first-year, decent for the Maine market.
The data raises concerns about Thomas College
These metrics fall below the thresholds most financial advisors recommend for a sound college investment. Review them carefully before committing.
- ROI Score28/100 - Poor Value tier (below 45). Most 4-year schools we track score 60 or higher.
- Payback period21.6 years - Most 4-year schools we track have payback periods of 4-10 years.
Thomas College
Quick Numbers
| In-state tuition + fees | $31,824/yr |
| Out-of-state tuition + fees | $31,824/yr |
| Average net price | $18,885/yr |
| Total 4-year cost (net) | $75,540 |
| Median earnings (10yr post-entry) | $44,991 |
| Median earnings (6yr post-entry) | $31,700 |
| Median debt at graduation | $24,250 |
| Estimated monthly loan payment | $257 |
| Estimated payback period | 21.6 years |
| 6-year graduation rate | 53.7% |
| Undergraduate enrollment | 647 |
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: $31,824/year. Here's the part that matters - almost nobody pays that. After grants, scholarships, and aid, the average student here pays a net price of $18,885/year, or roughly $75,540 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 $12,655/year here, while families earning over $110,000 pay $26,770/year.
Most students borrow to get here. The median graduate leaves owing $24,250 in federal loans, which works out to about $257 a month on the standard 10-year repayment plan. Hold that up against the $44,991 the typical graduate earns ten years out: the debt-to-earnings ratio comes to 0.77, within the range advisors call workable but worth keeping an eye on.
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 | $12,655 |
| $30,001 - $48,000 | $11,904 |
| $48,001 - $75,000 | $16,227 |
| $75,001 - $110,000 | $18,145 |
| $110,001+ | $26,770 |
Cost by Income Bracket Explained
Lower-income families (under $30K)
Households at $0-$30,000 pay $12,655 net - a striking discount from the $31K sticker - and $30,001-$48,000 pays $11,904, the lowest band. These are excellent prices for a private nonprofit and the four-year cost (~$50K) is workable against $31,700 six-year earnings.
Middle-income families ($30K-$110K)
$48,001-$75,000 pays $16,227, $75,001-$110,000 pays $18,145 - a steady progressive aid curve. Middle-income Maine families see Thomas as cost-competitive with state options.
Higher-income families ($110K+)
Households above $110,000 pay $26,770 - a substantial step up from middle-income bands. Total 4-year cost over $107,000. At this price tier, families should weigh the small-cohort, career-focused environment against state-school alternatives that deliver higher ROI.
Earnings by Major
Top 8 most popular majors at Thomas College with available earnings data.
| Major | Median Earnings | Grade |
|---|---|---|
| Business Administration, Management, and Operations | $52,490 | C |
| Teacher Education | $46,988 | C |
| Accounting | $65,028 | C |
| Criminal Justice and Corrections | $54,649 | C |
| Kinesiology and Exercise Science | $51,014 | D |
| Clinical Psychology | $35,065 | D |
| Computer Science | $76,089 | - |
| Psychology | $49,253 | D |
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.
Accounting
Accounting has 14 graduates, $47,356 first-year earnings, $65,028 at four years, $27,000 median debt, 0.57 debt-to-earnings, and a C ROI grade. Solid wage progression (37%) reflects CPA-track and corporate-accounting placement. Maine has a small but established accounting market; career paths route through Portland and regional firm hiring. The C grade is fair.
Business Administration, Management, and Operations
Business Administration has 22 graduates, $42,478 first-year earnings, $52,490 at four years, $23,707 median debt, 0.558 debt-to-earnings, and a C ROI grade. Earnings progression is moderate. Career paths run through Maine regional business and small-firm management. Manageable debt produces a defensible if unspectacular ROI.
Criminal Justice and Corrections
Criminal Justice has 14 graduates, $42,174 first-year earnings, $54,649 at four years, $27,000 median debt, 0.64 debt-to-earnings, and a C ROI grade. Maine criminal-justice salaries are higher than the national average, helping the program clear a C grade despite moderate debt. Career paths route through state policing, corrections, and probation.
Teacher Education
Teacher Education has 16 graduates, $38,994 first-year earnings, $46,988 at four years, $27,000 median debt, 0.692 debt-to-earnings, and a C ROI grade. Maine K-12 teacher salaries are mid-pack nationally. The C grade reflects moderate debt against modest earnings; income-driven repayment makes the math workable.
Psychology
Psychology has 6 graduates, $33,368 first-year earnings, $49,253 at four years, $27,000 median debt, 0.809 debt-to-earnings, and a D ROI grade. Earnings are typical for a psych bachelor's, but the $27K debt load against $33K first-year earnings produces the D grade. Graduate study often follows; students should weigh the cumulative debt of a master's or doctoral path.
How Graduates Do
Earnings
Loan Repayment
| Metric | This School | Nat'l Avg |
|---|---|---|
| 1-year repayment | 60.4% | 52.0% |
| 3-year repayment | 70.9% | 62.0% |
| 5-year repayment | 69.6% | 68.0% |
| 7-year repayment | 71.0% | 72.0% |
Completion Rate
Trends Over Time
How Thomas College’s cost and outcomes have moved across College Scorecard releases (2009-2023).
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 | 96.3% |
| Enrollment | 647 |
| Pell Grant recipients | 18.1% |
| Avg faculty salary (monthly) | $7,625 |
Admission rate is 96.3%, essentially open admission. SAT and ACT scores are not reported - Thomas is test-optional. The combination of near-universal admission and a 53.7% completion rate is on the better end of the open-access pattern: roughly half finish, which exceeds many similarly-positioned regional privates. Maine's overall college-readiness profile and Thomas's career-oriented curriculum likely both contribute to the slightly stronger persistence.
Compared to Similar Schools
Peer institutions matched by type, size, and selectivity.
Peer institutions include College of the Atlantic, Bates College, William Peace University, Drury University-College of Continuing Professional Studies, and Talmudical Seminary of Bobov. Bates is a different category - elite Maine liberal arts with very strong ROI. College of the Atlantic is a Maine peer in scale. William Peace and Drury are functional regional-private peers with similar ROI scores. Talmudical Seminary is population-mismatched. Thomas's 28 is below College of the Atlantic but in line with William Peace and Drury.
| School | ROI | Net Price | 10yr Earnings |
|---|---|---|---|
| Thomas College (this school) | 28 | $18,885 | $44,991 |
| Bates College | 82 | $29,351 | $69,498 |
| Talmudical Seminary of Bobov | 30 | $2,840 | $22,432 |
| William Peace University | 27 | $21,649 | $46,643 |
| College of the Atlantic | 25 | $25,184 | $40,264 |
| Drury University-College of Continuing Professional Studies | 24 | $10,566 | $40,694 |
Who Thrives Here
Fits Maine-region students seeking a small private with career-oriented business, accounting, and criminal-justice programs. Enrollment of 647 keeps cohorts small; the 18% Pell rate - lowest in our dataset - signals a moderately middle-class student body, less Pell-dependent than typical regional privates. Outcomes are decent for accounting and business graduates and weaker for psychology paths. Thomas's value proposition is the heavy net-price discount from a $31K sticker to $18K median, which makes it accessible to families at multiple income levels.
The Verdict: The Numbers Don't Add Up
We'll be straight with you: the numbers at Thomas College are a real concern. With a net cost of $18,885 per year and the typical graduate earning only $44,991 ten years out, the estimated payback period exceeds 21.6 years. For most students, the financial return does not justify the cost - go in with your eyes open.
What to keep an eye on: weak earnings relative to cost, high debt relative to what graduates earn, concerning loan repayment rates, a long payback period.
Median debt of $24,250 against $44,991 in earnings is reasonable, though your major matters a lot here. Graduates in higher-earning fields will see the better end of this.
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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.