Bachelor's Degree in Music. — ROI at Elmhurst University

IL  ·  Based on U.S. Department of Education College Scorecard data

Financial Breakdown for Music. at Elmhurst University

Net Annual Cost

$51,829

After grants & scholarships


$0

Median Earnings

$33,291

Median salary after graduation

Net Debt

$28,125

After personal savings applied


$0

20-Year Net ROI Projection

Gross Earnings (20 years)

$33,291 × 20 years

+$665,820

Total 4-Year Cost

$51,829 × 4 years

−$207,316

Estimated Debt Payoff Includes estimated interest over a standard 10-year repayment plan.

$28,125 principal × 1.35 (interest)

−$37,968

Baseline Opportunity Cost The estimated earnings you would make with a high school diploma over 20 years ($42,000/yr), which you forfeit while studying.

$42,000 median no-degree salary × 20 years

−$840,000

20-Year Net ROI

-$419,464

Graduation Rate

64.4%

of students complete their degree

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How we calculate ROI

20-Year Net ROI = Gross Earnings − Total 4-Year Cost − Estimated Debt Payoff − Baseline Opportunity Cost

Baseline assumes $42,000/yr median earnings without a college degree. Debt payoff uses a 1.35× multiplier to account for interest over a standard repayment period.

Data sourced from the U.S. College Scorecard.