Analysis
Covenant College's psychology program lands right at Georgia's median for first-year earnings but trails the national benchmark by about $3,300—a gap that matters when you're starting at just $28,180. The small graduating class (under 30 students) makes these numbers less reliable than data from larger programs, but the pattern is worth noting: graduates here earn less than peers at Georgia institutions like Brenau ($36,497) or Life University ($34,260), though the debt load of $27,000 is relatively manageable with a debt-to-earnings ratio just under 1.0.
For parents evaluating this $27,000 investment, the key question is whether Covenant's distinctive Christian liberal arts environment justifies accepting below-average psychology earnings. Psychology majors nationwide often face modest starting salaries, but this program places in just the 23rd percentile nationally—meaning three-quarters of psychology programs produce higher earners. The debt itself isn't excessive by national standards, but when paired with earnings that won't grow much in the first few years, your graduate may struggle more than peers from higher-performing Georgia programs.
If your student is committed to Covenant for reasons beyond career earnings—faith integration, community, or specific faculty—this investment could work with realistic expectations about post-graduation finances. But purely from an ROI perspective, other Georgia options deliver meaningfully better outcomes for psychology graduates. The small sample size means this could shift with next year's cohort, but right now, the numbers suggest caution.
Where Covenant College Stands
Earnings vs. debt across all psychology bachelors's programs nationally
Earnings Distribution
How Covenant College graduates compare to all programs nationally
Compare to Similar Programs in Georgia
Psychology bachelors's programs at peer institutions in Georgia (41 total in state)
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| School | In-State Tuition | Earnings (1yr) | Earnings (4yr) | Median Debt | Debt/Earnings |
|---|---|---|---|---|---|
| $40,464 | $28,180 | — | $27,000 | 0.96 | |
| $33,275 | $36,497 | — | $30,761 | 0.84 | |
| $15,036 | $34,260 | — | $31,000 | 0.90 | |
| $60,774 | $32,085 | $52,842 | $20,500 | 0.64 | |
| $31,725 | $31,474 | — | $26,000 | 0.83 | |
| $5,786 | $31,450 | $42,774 | $26,869 | 0.85 | |
| National Median | — | $31,482 | — | $25,500 | 0.81 |
Career Paths
Occupations commonly associated with psychology graduates
Industrial-Organizational Psychologists
Clinical and Counseling Psychologists
Psychologists, All Other
Neuropsychologists
Clinical Neuropsychologists
Psychology Teachers, Postsecondary
Managers, All Other
Loss Prevention Managers
Social Science Research Assistants
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 Covenant College, approximately 18% 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.
Sample Size: Based on 19 graduates with reported earnings and 23 graduates with debt data. Small samples may not be representative.