Analysis
A debt-to-earnings ratio of 0.56 suggests this program produces manageable financial outcomes—students would carry roughly half a year's salary in debt, which is within reasonable bounds for undergraduate education. Based on comparable entrepreneurial studies programs nationally, first-year earnings around $45,000 align with typical starting points for business generalists, though this figure sits below Tennessee's reported outcomes at Middle Tennessee State ($43,002 is actually lower, suggesting Carson-Newman may perform comparably or better).
The challenge with entrepreneurship degrees is that they often lead to varied career paths—some graduates launch businesses while others enter traditional employment in sales, marketing, or management roles. This creates wide outcome variation that national estimates can't fully capture. For Carson-Newman specifically, the 39% Pell grant population suggests the school serves students who may benefit from structured business education even if they don't immediately start companies.
The practical question is whether this investment makes sense compared to entering business directly or choosing a more targeted business major. At $25,400 in estimated debt for outcomes that appear middle-of-the-pack, this program won't distinguish itself dramatically from peer options. If your child has genuine entrepreneurial ambitions and values Carson-Newman's environment, the debt load shouldn't be prohibitive. But if they're uncertain about their direction, a broader business degree at a program with documented stronger outcomes might preserve more career flexibility.
Where Carson-Newman University Stands
Earnings vs. debt across all entrepreneurial and small business operations bachelors's programs nationally
Compare to Similar Programs in Tennessee
Entrepreneurial and Small Business Operations bachelors's programs at peer institutions in Tennessee (10 total in state)
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| School | In-State Tuition | Earnings (1yr)* | Earnings (4yr) | Median Debt* | Debt/Earnings |
|---|---|---|---|---|---|
| $34,700 | $45,265* | — | $25,396* | — | |
| $9,506 | $43,002* | $35,270 | —* | — | |
| National Median | — | $45,265* | — | $24,125* | 0.53 |
Career Paths
Occupations commonly associated with entrepreneurial and small business operations graduates
Chief Executives
Chief Sustainability Officers
General and Operations Managers
Business Teachers, Postsecondary
Personal Service Managers, All Other
Fitness and Wellness Coordinators
Spa Managers
Managers, All Other
Regulatory Affairs Managers
Compliance Managers
Loss Prevention Managers
Wind Energy Operations Managers
About This Data
Source: U.S. Department of Education College Scorecard (October 2025 release)
Population: Graduates who received federal financial aid (Title IV grants or loans). At Carson-Newman University, approximately 39% of students receive Pell grants. Students who did not receive federal aid are not included in these figures.
Earnings: Median earnings from IRS W-2 data for graduates who are employed and not enrolled in further education, measured 1 year after completion. Earnings are pre-tax and include wages, salaries, and self-employment income.
Debt: Median cumulative federal loan debt at graduation. Does not include private loans or Parent PLUS loans borrowed on behalf of students.
Estimated Earnings: Actual earnings data is not available for this program (typically due to privacy thresholds when fewer than 30 graduates reported earnings). The estimate shown is based on the national median of 67 similar programs. Actual outcomes may vary.