Martin Luther College
Martin Luther College — Earnings vs Cost (vs National Average)
Martin Luther College at a Glance
Martin Luther College (MLC) is a private Christian college in New Ulm, Minnesota, United States. It is operated by the Wisconsin Evangelical Lutheran Synod (WELS). Martin Luther College was established in 1995, when Northwestern College of Watertown, Wisconsin, combined with Dr. Martin Luther College of New Ulm on the latter's campus.
1995
31 years old
860
731 undergrad · 129 grad
87
88 acres
Identity
Is Martin Luther College Worth It?
Martin Luther College offers moderate value at $18,463/year net price. Graduates earn a median of $47,491, which is 12% below average — meaning the financial payoff takes longer than typical. 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 71% graduation rate means roughly 29% of students leave without a degree — taking on debt without the earnings boost that completion brings.
How Martin Luther College compares to peer private nonprofit colleges of similar tier nationally
Ranked #11 of 108 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 | Saint Mary's University of Minnesota | 83 | $11,704 | $58,170 |
| #3 | Christian Brothers University | 81 | $9,854 | $57,478 |
| #4 | Waynesburg University | 50 | $18,235 | $58,537 |
| #5 | Bay Path University | 49 | $14,271 | $55,383 |
| #6 | College of Our Lady of the Elms | 49 | $17,545 | $51,540 |
| #11 | Martin Luther College | 46 | $18,463 | $47,491 |
Peer group: private nonprofit colleges within ±60% of Martin Luther College's student body size and within a similar academic tier (SAT ±80, admit rate ±10pp, median earnings ±25%). 2 in MN.
Best Programs at Martin Luther College
The highest-earning program at Martin Luther College is Teacher Education and Professional Development, Specific Levels and Methods at $36,700/year (4 years after graduation). The lowest is Theological and Ministerial Studies at $13,000/year.
Your major matters more than the school name — a Teacher Education and Professional Development, Specific Levels and Methods graduate from Martin Luther College earns $36,700, while a Theological and Ministerial Studies graduate earns $13,000. 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: Teacher Education and Professional Development, Specific Levels and Methods graduates carry $20,142 in median debt vs. $19,000 for Theological and Ministerial Studies.
Return on Investment
Estimated 4-Year Cost
Based on $18,463/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 |
|---|---|---|---|
| Teacher Education and Professional Development, Specific Levels and Methods | $36,700 | $36,700 | $20,142 |
| Liberal Arts and Sciences, General Studies and Humanities | $13,800 | $13,800 | N/A |
| Theological and Ministerial Studies | $13,000 | $13,000 | $19,000 |
Similar Colleges in MN
Quick Facts
- Institution Type
- private
- Location
- New Ulm, MN
- Student Body
- 725 students
- Admission Rate
- 87%
- Graduation Rate
- 71%
- Net Price (Annual)
- $18,463
- Median Earnings (10yr)
- $47,491
- Median Student Debt
- $20,177