Lake Erie College
Lake Erie College — Earnings vs Cost (vs National Average)
Is Lake Erie College Worth It?
At a value score of 24/100, Lake Erie College is a below-average value relative to its cost. Graduates earn $50,417 — 6% below average — while paying $20,961/year. Consider alternatives with better earnings-to-cost ratios.
The investment pays for itself in just 1.7 years — among the fastest payback periods of any college we track.
A 40% graduation rate is a serious red flag — fewer than 4 in 10 students finish. Those who don't graduate may still carry student debt without the higher-earning credential to show for it.
With median debt of $26,000 representing 52% of first-year earnings, loan repayment will be a significant burden for most graduates.
Bottom line: consider whether the specific program you're interested in at Lake Erie College has outcomes that justify the cost — the institution-wide numbers suggest caution.
How Lake Erie College compares to peer private nonprofit colleges of similar tier in OH
Ranked #105 of 164 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 | College of Biblical Studies-Houston | 100 | $672 | $39,260 |
| #2 | Ursuline College | 53 | $16,164 | $56,878 |
| #3 | Pillar College | 49 | $8,470 | $45,577 |
| #4 | Coe College | 48 | $18,745 | $57,125 |
| #5 | Illinois College | 45 | $18,298 | $52,575 |
| #6 | Saint Vincent College | 45 | $23,510 | $59,982 |
| #105 | Lake Erie College | 24 | $20,961 | $50,417 |
Peer group: private nonprofit colleges within ±60% of Lake Erie College's student body size and within a similar academic tier (SAT ±80, admit rate ±10pp, median earnings ±25%). 8 in OH.
Best Programs at Lake Erie College
The highest-earning program at Lake Erie College is Business Administration, Management and Operations at $28,200/year (4 years after graduation).
Your major matters more than the school name — a Business Administration, Management and Operations graduate from Lake Erie College earns $28,200, while a Business Administration, Management and Operations graduate earns $28,200. Choose your program carefully — it's the single biggest lever you control.
Debt also varies by program: Business Administration, Management and Operations graduates carry $26,824 in median debt vs. $26,824 for Business Administration, Management and Operations.
Return on Investment
Estimated 4-Year Cost
Based on $20,961/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 |
|---|---|---|---|
| Business Administration, Management and Operations | $28,200 | $28,200 | $26,824 |
Similar Colleges in OH
Quick Facts
- Institution Type
- private
- Location
- Painesville, OH
- Student Body
- 852 students
- Admission Rate
- 70%
- Graduation Rate
- 40%
- Net Price (Annual)
- $20,961
- Median Earnings (10yr)
- $50,417
- Median Student Debt
- $26,000