St Olaf College
St Olaf College — Earnings vs Cost (vs National Average)
St Olaf College at a Glance
St. Olaf College is a private liberal arts college in Northfield, Minnesota, United States. It was founded in 1874 by a group of Norwegian-American pastors and farmers led by Pastor Bernt Julius Muus. The college is named after the King and the Patron Saint Olaf II of Norway and is affiliated with the Evangelical Lutheran Church in America.
1874
152 years old
$882M
$881.6 million (2025)
3,124
920 acres
Identity
How to Apply to St Olaf College
Official admissions pageNovember 1 (Early Action)
1 required
Testing policy
Recommendation letters
Fee waiver
Is St Olaf College Worth It?
St Olaf College offers moderate value at $23,874/year net price. Graduates earn a median of $65,543, which is near the national average. Students should research specific program outcomes before committing.
The investment pays for itself in just 1.5 years — among the fastest payback periods of any college we track.
The 84% graduation rate means roughly 16% of students leave without a degree — taking on debt without the earnings boost that completion brings.
How St Olaf College compares to peer private nonprofit colleges of similar tier nationally
Ranked #3 of 29 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 | Centre College | 66 | $20,781 | $66,240 |
| #2 | DePauw University | 61 | $22,264 | $70,527 |
| #3 | St Olaf College | 57 | $23,874 | $65,543 |
| #4 | Rhodes College | 48 | $28,585 | $66,651 |
| #5 | St Lawrence University | 47 | $28,651 | $67,258 |
| #6 | Gettysburg College | 47 | $31,490 | $71,517 |
Peer group: private nonprofit colleges within ±60% of St Olaf College's student body size and within a similar academic tier (SAT ±80, admit rate ±10pp, median earnings ±25%).
Best Programs at St Olaf College
The highest-earning program at St Olaf College is Registered Nursing, Nursing Administration, Nursing Research and Clinical Nursing at $59,700/year (4 years after graduation). The lowest is English Language and Literature, General at $17,700/year.
Your major matters more than the school name — a Registered Nursing, Nursing Administration, Nursing Research and Clinical Nursing graduate from St Olaf College earns $59,700, while a English Language and Literature, General graduate earns $17,700. 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: Registered Nursing, Nursing Administration, Nursing Research and Clinical Nursing graduates carry $22,375 in median debt vs. $23,500 for English Language and Literature, General.
Return on Investment
Estimated 4-Year Cost
Based on $23,874/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 |
|---|---|---|---|
| Registered Nursing, Nursing Administration, Nursing Research and Clinical Nursing | $59,700 | $59,700 | $22,375 |
| Economics | $50,700 | $50,700 | $22,000 |
| Mathematics | $43,600 | $43,600 | $23,503 |
| Teacher Education and Professional Development, Specific Subject Areas | $38,000 | $38,000 | $27,000 |
| Chemistry | $37,400 | $37,400 | $21,500 |
| Political Science and Government | $34,400 | $34,400 | $20,500 |
| Psychology, General | $32,700 | $32,700 | $22,000 |
| Biology, General | $27,400 | $27,400 | $24,550 |
| Area Studies | $25,800 | $25,800 | $20,950 |
| Music | $24,900 | $24,900 | $27,000 |
| History | $24,000 | $24,000 | $19,500 |
| Health and Physical Education/Fitness | $22,700 | $22,700 | $25,000 |
| Fine and Studio Arts | $22,300 | $22,300 | $24,000 |
| Sociology and Anthropology | $21,800 | $21,800 | $22,235 |
| Natural Resources Conservation and Research | $21,200 | $21,200 | $24,995 |
| English Language and Literature, General | $17,700 | $17,700 | $23,500 |
Similar Colleges in MN
Quick Facts
- Institution Type
- private
- Location
- Northfield, MN
- Student Body
- 3,093 students
- Admission Rate
- 48%
- Graduation Rate
- 84%
- Net Price (Annual)
- $23,874
- Median Earnings (10yr)
- $65,543
- Median Student Debt
- $26,000