# Colleges with the lowest debt-to-earnings ratio

> Four-year colleges ranked by how small graduates' median federal debt is next to a year of former students' median earnings. U.S. College Scorecard, latest data.

- Edition: Data verified Nov 2026 · CollegesRef 2026–27 edition
- Page: https://www.collegesref.com/data/lowest-debt-to-earnings-colleges
- Data (CSV): https://www.collegesref.com/data/lowest-debt-to-earnings-colleges.csv
- Source data: latest College Scorecard release
- Snapshot updated: November 15, 2026

## Key findings

1. 886 four-year colleges in 50 states meet every criterion on this page.
2. California Institute of Technology CalTech (California) ranks first, with debt equal to 5% of a year's earnings.
3. The median qualifying college has debt equal to 33% of a year's earnings.
4. 308 qualifying colleges are public and 578 private nonprofit.


## The ranking

| College | State and type | Rank | Debt ÷ earnings | Median debt | Median earnings | Grad. rate |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| [California Institute of Technology CalTech](https://www.collegesref.com/college/california-institute-of-technology-caltech-356) | California · Private nonprofit | 1 | 5% | $7,500 | $166,642 | 90% |
| [United States Merchant Marine Academy](https://www.collegesref.com/college/united-states-merchant-marine-academy-2848) | New York · Public | 2 | 5% | $5,500 | $103,283 | 78% |
| [Williams College](https://www.collegesref.com/college/williams-college-3281) | Massachusetts · Private nonprofit | 3 | 8% | $8,000 | $95,954 | 95% |
| [Stanford University](https://www.collegesref.com/college/stanford-university-2589) | California · Private nonprofit | 4 | 9% | $10,750 | $125,340 | 92% |
| [Massachusetts Institute of Technology MIT](https://www.collegesref.com/college/massachusetts-institute-of-technology-mit-1615) | Massachusetts · Private nonprofit | 5 | 9% | $14,000 | $152,553 | 96% |
| [Princeton University](https://www.collegesref.com/college/princeton-university-2154) | New Jersey · Private nonprofit | 6 | 9% | $12,400 | $133,523 | 97% |
| [Yale University](https://www.collegesref.com/college/yale-university-3312) | Connecticut · Private nonprofit | 7 | 10% | $11,982 | $118,356 | 96% |
| [Claremont McKenna College CMC](https://www.collegesref.com/college/claremont-mckenna-college-cmc-557) | California · Private nonprofit | 8 | 11% | $13,450 | $127,532 | 90% |
| [Cornell University-New York](https://www.collegesref.com/college/cornell-university-new-york-710) | New York · Private nonprofit | 9 | 11% | $12,000 | $113,531 | 95% |
| [Wellesley College](https://www.collegesref.com/college/wellesley-college-3189) | Massachusetts · Private nonprofit | 10 | 11% | $9,788 | $90,458 | 91% |
| [Berea College](https://www.collegesref.com/college/berea-college-221) | Kentucky · Private nonprofit | 11 | 11% | $5,500 | $48,071 | 66% |
| [Duke University](https://www.collegesref.com/college/duke-university-837) | North Carolina · Private nonprofit | 12 | 11% | $13,000 | $113,937 | 96% |
| [Smith College-Massachusetts](https://www.collegesref.com/college/smith-college-massachusetts-2431) | Massachusetts · Private nonprofit | 13 | 11% | $8,000 | $69,936 | 86% |
| [Johns Hopkins University](https://www.collegesref.com/college/johns-hopkins-university-1344) | Maryland · Private nonprofit | 14 | 12% | $12,000 | $104,590 | 93% |
| [University of Chicago](https://www.collegesref.com/college/university-of-chicago-2895) | Illinois · Private nonprofit | 15 | 12% | $12,000 | $103,872 | 95% |
| [Dartmouth College](https://www.collegesref.com/college/dartmouth-college-769) | New Hampshire · Private nonprofit | 16 | 12% | $13,000 | $111,162 | 95% |
| [Grinnell College](https://www.collegesref.com/college/grinnell-college-1125) | Iowa · Private nonprofit | 17 | 12% | $8,750 | $72,106 | 86% |
| [University of Pennsylvania UPENN](https://www.collegesref.com/college/university-of-pennsylvania-upenn-3009) | Pennsylvania · Private nonprofit | 18 | 12% | $15,000 | $121,687 | 97% |
| [University of California-Berkeley CAL](https://www.collegesref.com/college/university-of-california-berkeley-cal-2881) | California · Public | 19 | 12% | $12,416 | $100,212 | 94% |
| [Bates College](https://www.collegesref.com/college/bates-college-188) | Maine · Private nonprofit | 20 | 13% | $12,250 | $98,373 | 88% |
| [Colgate University](https://www.collegesref.com/college/colgate-university-601) | New York · Private nonprofit | 21 | 13% | $12,000 | $96,328 | 89% |
| [Emory University-Main Campus](https://www.collegesref.com/college/emory-university-main-campus-916) | Georgia · Private nonprofit | 22 | 13% | $12,000 | $93,897 | 91% |
| [Georgetown University-DC](https://www.collegesref.com/college/georgetown-university-dc-1068) | District of Columbia · Private nonprofit | 23 | 13% | $14,746 | $110,516 | 94% |
| [University of California-San Diego UCSD](https://www.collegesref.com/college/university-of-california-san-diego-ucsd-2887) | California · Public | 24 | 14% | $13,000 | $96,197 | 86% |
| [Lafayette College](https://www.collegesref.com/college/lafayette-college-1414) | Pennsylvania · Private nonprofit | 25 | 14% | $14,000 | $102,336 | 85% |
| [University of California-Davis](https://www.collegesref.com/college/university-of-california-davis-2882) | California · Public | 26 | 14% | $12,038 | $86,999 | 86% |
| [Amherst College](https://www.collegesref.com/college/amherst-college-72) | Massachusetts · Private nonprofit | 27 | 14% | $13,250 | $95,161 | 93% |
| [Rice University](https://www.collegesref.com/college/rice-university-2227) | Texas · Private nonprofit | 28 | 14% | $13,000 | $90,773 | 95% |
| [University of California-Santa Barbara UCSB](https://www.collegesref.com/college/university-of-california-santa-barbara-ucsb-2888) | California · Public | 29 | 14% | $11,776 | $82,568 | 84% |
| [Harvard University](https://www.collegesref.com/college/harvard-university-1157) | Massachusetts · Private nonprofit | 30 | 14% | $17,559 | $121,957 | 97% |
| [Brown University](https://www.collegesref.com/college/brown-university-314) | Rhode Island · Private nonprofit | 31 | 15% | $14,567 | $99,974 | 96% |
| [CUNY Bernard M Baruch College](https://www.collegesref.com/college/cuny-bernard-m-baruch-college-732) | New York · Public | 32 | 15% | $12,500 | $83,742 | 70% |
| [University of North Carolina at Chapel Hill Main Campus](https://www.collegesref.com/college/university-of-north-carolina-at-chapel-hill-main-campus-2990) | North Carolina · Public | 33 | 15% | $12,086 | $81,094 | 91% |
| [Vanderbilt University](https://www.collegesref.com/college/vanderbilt-university-3113) | Tennessee · Private nonprofit | 34 | 15% | $15,000 | $99,080 | 93% |
| [Carnegie Mellon University](https://www.collegesref.com/college/carnegie-mellon-university-406) | Pennsylvania · Private nonprofit | 35 | 15% | $19,000 | $125,257 | 94% |
| [Harvey Mudd College](https://www.collegesref.com/college/harvey-mudd-college-1158) | California · Private nonprofit | 36 | 15% | $25,000 | $164,248 | 93% |
| [Barnard College](https://www.collegesref.com/college/barnard-college-181) | New York · Private nonprofit | 37 | 15% | $15,000 | $98,280 | 92% |
| [Brigham Young University-Provo BYU Utah](https://www.collegesref.com/college/brigham-young-university-provo-byu-utah-302) | Utah · Private nonprofit | 38 | 15% | $12,250 | $80,228 | 81% |
| [CUNY Queens College](https://www.collegesref.com/college/cuny-queens-college-746) | New York · Public | 39 | 15% | $10,500 | $68,324 | 53% |
| [University of California-Irvine UCI](https://www.collegesref.com/college/university-of-california-irvine-uci-2883) | California · Public | 40 | 15% | $12,821 | $83,432 | 87% |
| [University of California-Los Angeles UCLA](https://www.collegesref.com/college/university-of-california-los-angeles-ucla-2884) | California · Public | 41 | 16% | $13,750 | $88,581 | 93% |
| [University of Virginia-Main Campus UVA](https://www.collegesref.com/college/university-of-virginia-main-campus-uva-3072) | Virginia · Public | 42 | 16% | $15,000 | $96,468 | 94% |
| [CUNY John Jay College of Criminal Justice](https://www.collegesref.com/college/cuny-john-jay-college-of-criminal-justice-740) | New York · Public | 43 | 16% | $10,500 | $65,870 | 54% |
| [Scripps College](https://www.collegesref.com/college/scripps-college-2389) | California · Private nonprofit | 44 | 16% | $13,500 | $84,025 | 84% |
| [Wesleyan University-Connecticut](https://www.collegesref.com/college/wesleyan-university-connecticut-3198) | Connecticut · Private nonprofit | 45 | 16% | $14,000 | $86,811 | 90% |
| [Western Governors University](https://www.collegesref.com/college/western-governors-university-433387) | Utah · Private nonprofit | 46 | 16% | $12,500 | $76,999 | 50% |
| [Northwestern University-Illinois](https://www.collegesref.com/college/northwestern-university-illinois-1966) | Illinois · Private nonprofit | 47 | 16% | $17,017 | $104,255 | 96% |
| [University of Southern California USC](https://www.collegesref.com/college/university-of-southern-california-usc-3050) | California · Private nonprofit | 48 | 16% | $17,000 | $103,420 | 90% |
| [Bowdoin College](https://www.collegesref.com/college/bowdoin-college-287) | Maine · Private nonprofit | 49 | 17% | $15,000 | $90,153 | 93% |
| [Pomona College](https://www.collegesref.com/college/pomona-college-2139) | California · Private nonprofit | 50 | 17% | $14,000 | $84,281 | 92% |

## Methodology

- **Colleges counted.** Every college published on CollegesRef that is public or private nonprofit, in a four-year Carnegie class (doctoral, master's or baccalaureate), in the 50 states or D.C., with at least 500 undergraduates and both figures reported in the College Scorecard.
- **Criteria.** This list keeps four-year colleges that graduate at least 50% of students, then ranks them by debt as a share of a year's earnings. Closed colleges are left out.
- **Exclusions.** For-profit colleges, two-year colleges, special-focus institutions, colleges with fewer undergraduates than the minimum, U.S. territories and colleges missing either figure are left out. Earnings figures without a federal reporting year are excluded.
- **Definitions.** Median earnings are former students' earnings ten years after entry (College Scorecard MD_EARN_WNE_P10). Average net price is cost of attendance minus average grants for aided first-time, full-time students (NPT4). Median debt is federal loan debt at graduation (GRAD_DEBT_MDN). Graduation rate is the IPEDS rate reported in the Scorecard.
- **What it leaves out.** A ranking on federal figures says nothing about teaching, fit or programs. Earnings are before tax and not specific to a major; prices are averages, so your family's price depends on its income and the college's aid.

## Frequently asked questions

### How is this list ranked?

CollegesRef keeps four-year colleges that graduate at least 50% of students, and ranks them by debt as a share of a year's earnings, lowest first. 886 colleges qualify; the top 50 are shown and the CSV holds the same rows.

### Which college ranks first?

California Institute of Technology CalTech (California, private nonprofit), with debt as a share of a year's earnings of 5%. The median qualifying college reports 33%.

### Where does the data come from?

The U.S. Department of Education's College Scorecard (latest data), which reports IPEDS cost and graduation figures and federal earnings and debt records. CollegesRef recomputes the list weekly from the latest snapshot.

## Sources

- U.S. Department of Education, College Scorecard: https://collegescorecard.ed.gov/data/
- IPEDS (National Center for Education Statistics): https://nces.ed.gov/ipeds/
- The federal source data is a U.S. government work in the public domain (https://www.usa.gov/government-copyright).
- CollegesRef methodology: https://www.collegesref.com/methodology

## How to cite

CollegesRef, "Colleges with the lowest debt-to-earnings ratio," analysis of the latest U.S. Department of Education College Scorecard data, updated November 15, 2026. https://www.collegesref.com/data/lowest-debt-to-earnings-colleges

---

Source: CollegesRef, https://www.collegesref.com/data/lowest-debt-to-earnings-colleges.