Head-to-Head Analysis
This analysis was generated using Azimuth's proprietary framework. Our data model transforms federal education data into actionable insights. Learn about founder Daniel Rogers, explore our research methodology, or see how we think about this data.
Updated January 2026 • Jackson, MS & Louisville, KY
When students choose between Spalding University and Millsaps College, they're comparing two small private institutions with similar missions but dramatically different family financial burdens. Both schools offer personalized education in intimate settings, but one demands significantly more parent borrowing.
The question becomes whether modest outcome differences justify asking families to take on $29,550 more in debt for the Millsaps experience.
Median Student Debt at Graduation
$27,000
federal loans
$25,250
federal loans
Median Parent PLUS Loans
$47,050
borrowed by parents
$17,500
borrowed by parents
Spalding University is health-focused, with nursing as its flagship program (59 graduates annually), alongside psychology (23 graduates) and health sciences (23 graduates). The school emphasizes professional preparation with 18% of students in business programs and 8% in arts.
Millsaps College concentrates on biological sciences with a traditional liberal arts approach: business administration leads with 33 graduates, followed by biology (27), psychology (23), and political science (17). This program mix reflects 23% business and 16% social sciences concentrations.
For students prioritizing family financial protection, Spalding delivers comparable career preparation while asking parents to borrow $29,550 less than Millsaps. Millsaps offers a traditional liberal arts experience with modestly higher earning potential, making it worthwhile for families who value that environment and can manage the additional debt burden responsibly.
The data points to Spalding as the more family-friendly financial choice — both schools produce similar graduation rates and career outcomes, but one does so without requiring parents to stretch financially. The right choice depends on whether the Millsaps experience justifies asking your family to take on significantly more debt for a modest earnings premium.
Key Takeaway
The numbers are close, but the best school depends on your goals, values, and career aspirations.
This comparison was generated using Azimuth's proprietary ROI framework, developed by founder Daniel Rogers. Our methodology transforms federal education data into actionable insights for families.
This comparison uses Azimuth's proprietary ROI model based on U.S. Dept. of Education data. View Full Methodology.
This content is for educational and informational purposes only and should not be construed as financial, investment, or professional advice. Consult a qualified advisor before making any financial decisions.
College Azimuth is a private research initiative and is not affiliated with the U.S. Department of Education or Federal Student Aid.
