Hanover College
Hanover College — Earnings vs Cost (vs National Average)
Hanover College at a Glance
Hanover College is a private college in Hanover, Indiana, United States, affiliated with the Presbyterian Church (USA). Founded in 1827 by Reverend John Finley Crowe, it is Indiana's oldest private college. The Hanover athletic teams participate in the NCAA Division III as a member of the Heartland Collegiate Athletic Conference. Alumni are known as Hanoverians.
1827
199 years old
$167M
$167.2 million (2025)
1,070
89
650 acres
Identity
Is Hanover College Worth It?
Hanover College offers moderate value at $21,829/year net price. Graduates earn a median of $53,957, which is near the national average. Students should research specific program outcomes before committing.
The investment pays for itself in just 1.6 years — among the fastest payback periods of any college we track.
The 65% graduation rate means roughly 35% of students leave without a degree — taking on debt without the earnings boost that completion brings.
How Hanover College compares to peer private nonprofit colleges of similar tier in IN
Ranked #33 of 129 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 | Saint Mary's University of Minnesota | 83 | $11,704 | $58,170 |
| #2 | Andrews University | 73 | $12,547 | $53,187 |
| #3 | Kalamazoo College | 68 | $19,072 | $65,590 |
| #4 | Albion College | 61 | $14,301 | $58,799 |
| #5 | Clarkson College | 57 | $19,241 | $64,876 |
| #6 | Goldey-Beacom College | 56 | $15,554 | $59,892 |
| #33 | Hanover College | 40 | $21,829 | $53,957 |
Peer group: private nonprofit colleges within ±60% of Hanover College's student body size and within a similar academic tier (SAT ±80, admit rate ±10pp, median earnings ±25%). 5 in IN.
Best Programs at Hanover College
The highest-earning program at Hanover College is Economics at $46,100/year (4 years after graduation). The lowest is Health and Physical Education/Fitness at $24,200/year.
Your major matters more than the school name — a Economics graduate from Hanover College earns $46,100, while a Health and Physical Education/Fitness graduate earns $24,200. Choose your program carefully — it's the single biggest lever you control.
Debt also varies by program: Economics graduates carry $27,000 in median debt vs. $27,000 for Health and Physical Education/Fitness.
Return on Investment
Estimated 4-Year Cost
Based on $21,829/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 | $46,100 | $46,100 | $27,000 |
| Communication and Media Studies | $31,800 | $31,800 | $26,947 |
| Health and Physical Education/Fitness | $24,200 | $24,200 | $27,000 |
Similar Colleges in IN
Quick Facts
- Institution Type
- private
- Location
- Hanover, IN
- Student Body
- 1,031 students
- Admission Rate
- 84%
- Graduation Rate
- 65%
- Net Price (Annual)
- $21,829
- Median Earnings (10yr)
- $53,957
- Median Student Debt
- $25,250