Colby College
Colby College — Earnings vs Cost (vs National Average)
Colby College at a Glance
Colby College is a private liberal arts college in Waterville, Maine, United States. Founded in 1813 as the Maine Literary and Theological Institution, it was renamed Waterville College in 1821. The donations of philanthropist Gardner Colby saw the institution renamed again to Colby University before settling on its current name, reflecting its liberal arts college curriculum, in 1899. Approximately 2,400 students, representing more than 45 states and 80 countries, are enrolled annually. The col…
1813
213 years old
$1.2B
$1.2 billion (2025)
2,407
171
714 acres
Identity
Is Colby College Worth It?
Colby College is one of the strongest value propositions in higher education. At $17,180/year net price and $80,490 median earnings, graduates earn 4.7× their annual cost within a decade of enrolling.
The investment pays for itself in just 0.9 years — among the fastest payback periods of any college we track.
With a 89% graduation rate, the vast majority of students finish their degree and reach these earning outcomes.
The catch: admission is extremely selective at just 7%, making this an option only for top-tier applicants.
Bottom line: Colby College delivers strong financial returns that justify the investment for most students.
How Colby College compares to peer private nonprofit colleges of similar tier nationally
Ranked #1 of 20 on value score. Peers are matched by size, median earnings, SAT, and admission rate — not just geography.
| Rank | College | Value | Net price / yr | Median earnings |
|---|---|---|---|---|
| #1 | Colby College | 100 | $17,180 | $80,490 |
| #2 | Bowdoin College | 100 | $14,398 | $82,735 |
| #3 | Williams College | 100 | $17,716 | $88,665 |
| #4 | Davidson College | 100 | $17,379 | $81,400 |
| #5 | Pomona College | 94 | $19,285 | $77,779 |
| #6 | Washington and Lee University | 94 | $23,781 | $94,810 |
Peer group: private nonprofit colleges within ±60% of Colby College's student body size and within a similar academic tier (SAT ±80, admit rate ±10pp, median earnings ±25%). 2 in ME.
Best Programs at Colby College
The highest-earning program at Colby College is Economics at $56,900/year (4 years after graduation). The lowest is Natural Resources Conservation and Research at $24,700/year.
Your major matters more than the school name — a Economics graduate from Colby College earns $56,900, while a Natural Resources Conservation and Research graduate earns $24,700. That's more than a 2× difference from the same institution. Choose your program carefully — it's the single biggest lever you control.
Debt also varies by program: Economics graduates carry $21,500 in median debt vs. $15,869 for Natural Resources Conservation and Research.
Return on Investment
Estimated 4-Year Cost
Based on $17,180/yr net price × 4 years
Earnings Premium
vs. national average of $53,787/yr
Payback Period
Time to recoup the total cost through higher earnings
10-Year Net Gain
Median earnings over 10 years minus total cost of attendance
Programs & Earnings by Major
Graduate earnings data by field of study (4 years after graduation):
| Major | Earnings (4yr) | Earnings (1yr) | Median Debt |
|---|---|---|---|
| Economics | $56,900 | $56,900 | $21,500 |
| International/Global Studies | $40,000 | $40,000 | $15,057 |
| Political Science and Government | $38,300 | $38,300 | $17,309 |
| Natural Resources Conservation and Research | $24,700 | $24,700 | $15,869 |
Similar Colleges in ME
Quick Facts
- Institution Type
- private
- Location
- Waterville, ME
- Student Body
- 2,407 students
- Admission Rate
- 7%
- Graduation Rate
- 89%
- Net Price (Annual)
- $17,180
- Median Earnings (10yr)
- $80,490
- Median Student Debt
- $19,157