Lake Forest College
Lake Forest College — Earnings vs Cost (vs National Average)
Lake Forest College at a Glance
Lake Forest College is a private liberal arts college in Lake Forest, Illinois, United States. Founded in 1857 as Lind University by a group of Presbyterian ministers, the college has been coeducational since 1876 and an undergraduate-focused liberal arts institution since 1903. Lake Forest enrolls approximately 1,800 students representing 43 states and 114 countries. Lake Forest offers 34 undergraduate majors and 49 minor programs in the humanities, social sciences, and natural sciences, and fe…
1857
169 years old
$115M
$114.9 million (2023)
1,800
178
107 acres
Identity
Is Lake Forest College Worth It?
Lake Forest College offers moderate value at $28,673/year net price. Graduates earn a median of $61,825, which is near the national average. Students should research specific program outcomes before committing.
The investment pays for itself in just 1.9 years — among the fastest payback periods of any college we track.
The 74% graduation rate means roughly 26% of students leave without a degree — taking on debt without the earnings boost that completion brings.
How Lake Forest College compares to peer private nonprofit colleges of similar tier nationally
Ranked #21 of 55 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 | Wofford College | 76 | $18,732 | $68,964 |
| #2 | University of Tulsa | 74 | $15,000 | $61,408 |
| #3 | Centre College | 66 | $20,781 | $66,240 |
| #4 | DePauw University | 61 | $22,264 | $70,527 |
| #5 | Fresno Pacific University | 57 | $13,630 | $58,896 |
| #6 | Gustavus Adolphus College | 55 | $22,900 | $65,607 |
| #21 | Lake Forest College | 40 | $28,673 | $61,825 |
Peer group: private nonprofit colleges within ±60% of Lake Forest College's student body size and within a similar academic tier (SAT ±80, admit rate ±10pp, median earnings ±25%).
Best Programs at Lake Forest College
The highest-earning program at Lake Forest College is Finance and Financial Management Services at $43,400/year (4 years after graduation). The lowest is English Language and Literature, General at $23,300/year.
Your major matters more than the school name — a Finance and Financial Management Services graduate from Lake Forest College earns $43,400, while a English Language and Literature, General graduate earns $23,300. Choose your program carefully — it's the single biggest lever you control.
Debt also varies by program: Finance and Financial Management Services graduates carry $27,000 in median debt vs. $27,000 for English Language and Literature, General.
Return on Investment
Estimated 4-Year Cost
Based on $28,673/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 |
|---|---|---|---|
| Finance and Financial Management Services | $43,400 | $43,400 | $27,000 |
| Communication and Media Studies | $38,700 | $38,700 | $26,630 |
| Business/Commerce, General | $36,400 | $36,400 | $27,000 |
| Romance Languages, Literatures, and Linguistics | $28,000 | $28,000 | $27,000 |
| Biology, General | $27,400 | $27,400 | $27,000 |
| English Language and Literature, General | $23,300 | $23,300 | $27,000 |
Similar Colleges in IL
Quick Facts
- Institution Type
- private
- Location
- Lake Forest, IL
- Student Body
- 1,813 students
- Admission Rate
- 57%
- Graduation Rate
- 74%
- Net Price (Annual)
- $28,673
- Median Earnings (10yr)
- $61,825
- Median Student Debt
- $26,158