Thomas College
Waterville, Maine · Private Nonprofit · 96.3% acceptance rate
ROI Score: 28/100 · Below Benchmark
Data: 2024-25 College Scorecard release
Thomas College, a private nonprofit in Waterville, ME, scores 28 on the ROI index in Below Benchmark tier. Sticker tuition is $31,824 with a net price of $18,885 - meaningful aid leverage. Average earnings at six years are $31,700, rising to a median $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%. Earnings premium is 13.2%. Enrollment is 647 with a 18% Pell rate, 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.
How Thomas College 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 Score28/100 - Below Benchmark tier of our scale (below 45). For context, 38% of the schools we score reach 60 or higher.
- Payback period21.6 years - The median payback across the schools we score is about 12 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 |
| Average 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, which covers tuition and fees only. 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.
Among graduates who borrowed, the median federal loan debt from this school is $24,250, which works out to about $257 a month on the standard 10-year repayment plan. Our debt-to-earnings ratio divides that debt by average earnings six years after entry ($31,700) and comes to 0.77, 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 | $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.
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.
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. 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. 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 | Median of schools we score |
|---|---|---|
| 1-year repayment | 60.4% | 68.8% |
| 3-year repayment | 70.9% | 73.6% |
| 5-year repayment | 69.6% | 67.7% |
| 7-year repayment | 71.0% | 72.8% |
Completion Rate
Trends Over Time
How Thomas College’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 | 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. 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.
| School | ROI | Net Price | 10yr Earnings |
|---|---|---|---|
| Thomas College (this school) | 28 | $18,885 | $44,991 |
| Bates College | 82 | $29,351 | $69,498 |
| 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 |
| Talmudical Seminary of Bobov | 20 | $2,840 | $22,432 |
Who Thrives Here
Fits Maine-region students seeking a small private with career-oriented business, accounting, and criminal-justice programs. 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: Below Benchmark Under Our Scoring
Under our methodology, Thomas College scores 28/100, which falls in the Below Benchmark tier (below 45). At a net price of $18,885 per year, with typical graduate earnings of $44,991 ten years after entry, we estimate the payback period at about 21.6 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 0.77 (median across the schools we score: 0.61), a three-year loan repayment rate of 70.9% (median across the schools we score: 73.6%), a long payback period.
Median debt of $24,250 among graduates who borrowed, against average earnings of $31,700 six years after entry, gives a debt-to-earnings ratio of 0.77. 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.
Thomas College: Common Questions
Is Thomas College worth it?
In our view, the financial case is a hard one to make on the numbers alone. Thomas College scores 28/100 on our ROI scale, in the Below Benchmark tier (below 45). At $18,885 a year after aid against $44,991 in typical earnings ten years out, we estimate the payback period at about 21.6 years. Your major and aid package can change the picture, so run your own numbers.
How much does Thomas College 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 $18,885 a year, or roughly $75,540 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 Thomas College graduates earn?
The typical graduate earns about $44,991 ten years after enrolling, roughly $3,191 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 Thomas College?
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 21.6 years for Thomas College. The median across the schools we track is about 12 years.
How much debt do Thomas College graduates take on?
Among graduates who borrowed, median federal loan debt from this school is about $24,250, against average earnings of $31,700 six years after entry - a debt-to-earnings ratio of 0.77. 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 Thomas College?
The six-year graduation rate is 53.7%. 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.
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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.