Liberal Arts and Sciences, General Studies and Humanities at Colby College

The estimated $27,000 in debt for Colby's liberal arts degree matches both the national median and sits just above Maine's typical $25,000, but that figure comes with an unusual caveat: this is one of the nation's most selective colleges (7% admission rate, 1500 average SAT) yet produces earnings estimates aligned with much less selective Maine schools. Programs at University of Maine at Augusta and UMaine Presque Isle—with far broader admission profiles—show graduates earning similar or better first-year salaries. The 0.73 debt-to-earnings ratio isn't alarming on its face, but it raises questions about whether Colby's academic rigor and prestige translate into commensurate financial outcomes for general liberal arts graduates.

The data suppression here matters significantly. Because actual outcomes aren't reported, we're relying on estimates from peer programs that may not capture what makes Colby distinctive—its network effects, graduate school placement rates, or longer-term earning trajectories that justify the competitive admissions. The low Pell grant percentage (13%) suggests most families here have resources beyond what first-year earnings reveal, which may explain why the program persists despite unremarkable initial salary figures.

If your child is considering Colby for liberal arts, recognize you're investing in institutional prestige and connections whose value won't show up in Year 1 earnings data. The debt load is manageable, but only if family resources can bridge the gap until those longer-term advantages materialize—or if your student has clear plans for graduate school or careers where Colby's name carries weight.