Students at Hanover College benefit from above-average economic mobility outcomes and exceptional financial stability after graduation, with zero loan defaults and faster-than-typical debt repayment.
The college's graduates demonstrate strong financial management skills that translate into sustainable career paths and responsible debt management over time.
Hanover College is a small private liberal arts institution in Indiana that offers a traditional college experience with personalized attention and strong community connections. While the college doesn't rank among the top tier nationally for overall outcomes, it provides a solid educational foundation with above-average mobility outcomes for the students it serves. About 26% of students receive Pell Grants, and the college maintains reasonable completion rates of around 64% within six years.
The institution's financial outcomes are mixed but show some bright spots. Graduates earn a median of $53,957 ten years after enrollment, which places the college around the middle of the national distribution. However, earnings tend to run below what similar students achieve at peer institutions, suggesting that while Hanover provides a quality education, the financial return may not match what families invest. The college's strength lies more in its educational approach and student experience than in maximizing post-graduation earnings.
As a small private college with fewer than 1,200 students, Hanover offers the intimate learning environment that many families seek. The college's moderate net prices for low-income students at around $16,238 annually make it more accessible than many private institutions, though middle and higher-income families face steeper costs. For students who thrive in small, supportive academic communities and value the liberal arts experience over maximum financial returns, Hanover represents a viable option in Indiana's higher education landscape.
Hanover College's program portfolio reflects its liberal arts mission, with Exercise Science and Kinesiology leading both in enrollment and financial outcomes. This program graduates 44 students annually with early-career earnings of about $30,988, making it the college's strongest pathway to immediate employment and financial stability. The program's success likely stems from growing demand in health and fitness industries, where Hanover's hands-on approach and small class sizes provide valuable practical experience.
Biology represents another significant program area, graduating 21 students with more modest early earnings of $19,045. This pattern is typical for life sciences, where many graduates pursue advanced degrees or enter fields that show earnings growth over time rather than high starting salaries. The college's small size allows for intensive faculty mentorship and research opportunities that can be valuable for students planning graduate or professional school.
The limited program diversity at Hanover means students have fewer high-earning pathways compared to larger institutions, but the college's approach emphasizes depth over breadth. With small cohorts in each major, students receive personalized attention and develop close relationships with faculty that can provide long-term career advantages. While immediate financial returns may be moderate, the foundation Hanover provides in critical thinking, communication, and problem-solving skills serves graduates well across various career paths, even if those benefits don't always translate directly into higher starting salaries.
Hanover College graduates see moderate long-term earnings that place the institution around the middle of the national distribution. Ten years after enrollment, graduates earn a median of $53,957, which represents solid middle-class outcomes but falls short of what similar students typically achieve at peer institutions. The college's earnings performance suggests that while students receive a quality education, the financial returns may not fully justify the investment compared to other options.
Program-level outcomes vary significantly across Hanover's offerings. Exercise Science and Kinesiology stands out as the college's strongest program from a financial perspective, graduating 44 students with median earnings of $30,988 early in their careers. Biology, another popular field with 21 graduates, shows more modest early earnings at $19,045, reflecting the challenges many life science graduates face without advanced degrees. The college's limited program portfolio means that students have fewer high-earning pathways compared to larger institutions with more diverse academic offerings.
The college's small size and liberal arts focus contribute to its moderate earnings profile. With fewer than 1,200 students total, Hanover lacks the scale and industry connections that often drive stronger employment outcomes at larger universities. While graduates benefit from close faculty relationships and a tight-knit alumni network, these advantages don't consistently translate into the higher earnings that families might expect given the private college investment. Students should weigh the value of Hanover's educational experience against the financial opportunity costs of attending a smaller, less economically focused institution.
Hanover College's affordability varies significantly by family income, with the most support directed toward low-income students. Families earning less than $30,000 annually pay a net price of about $16,238, which is relatively reasonable for a private college and reflects meaningful financial aid efforts. Middle-income families face higher costs at around $19,624 annually, while higher-income families pay approximately $26,545, representing a substantial but not uncommon investment for private liberal arts education.
The college's debt patterns reflect the financial realities of private college attendance. Typical graduates leave with about $25,250 in federal student loan debt, a manageable level that aligns with national averages for private institutions. Parent PLUS borrowing averages $28,198, indicating that many families supplement student aid with additional borrowing to cover the full cost of attendance. The combination of student and parent debt means that families often invest more than $50,000 in total borrowing to finance a Hanover education.
What makes Hanover's costs more sustainable is the college's strong loan repayment performance. The institution maintains a 0% federal loan default rate, and borrowers pay down their balances faster than typical college graduates nationwide. By year four after graduation, Hanover borrowers have paid off about 14.5% of their original balance, placing them in the top 10% nationally for repayment progress. This suggests that while graduates may not earn at the highest levels, they manage their debt responsibly and maintain financial stability after college.
Hanover College Hub Overview
Executive summary with admissions, cost, outcomes, and program analysis
