Liberal Arts and Sciences, General Studies and Humanities at Drake University

Is a generalist liberal arts degree at a selective private university worth $27,000 in debt? For Drake, the answer hinges on what comparable Iowa programs suggest about outcomes. Based on peer institutions in the state, first-year earnings around $40,400 would track with the Iowa median for these programs—slightly above the national benchmark of $36,340, but trailing schools like Simpson and Luther that report actual figures in the $42,000-$44,000 range.

The estimated debt load of $27,000 produces a manageable 0.67 debt-to-earnings ratio, meaning graduates would owe roughly two-thirds of their first-year salary. This falls within reasonable parameters for bachelor's degree debt, though Drake's tuition premium over public options should prompt questions about what that extra investment delivers. With only 21% of students on Pell grants and an average SAT of 1288, Drake serves a relatively privileged student body—suggesting families here may have financial cushions that make moderate debt less concerning.

The core challenge with generalist degrees is their intentional broadness: they're designed as launching pads rather than direct career pathways. If your child plans graduate school or has strong networking advantages, Drake's private school environment could facilitate those next steps. But if they need immediate earnings to justify the investment, programs with clearer professional outcomes might offer more certainty than what these estimated figures can provide.