Physics at Earlham College

A physics bachelor's degree from Earlham faces an unusual challenge: peer programs in Indiana suggest first-year earnings around $30,000, considerably lower than the $48,000 national median this small college's outcomes are estimated against. While Earlham's estimated $23,000 in debt aligns closely with both state and national norms, the earnings picture deserves scrutiny. Even Purdue's physics graduates—from Indiana's flagship STEM university—start at just over $30,000, which should temper expectations that a liberal arts physics degree will immediately command premium salaries.

The debt-to-earnings ratio of 0.49 looks manageable on paper if national earnings materialize, but if Indiana's market reality holds—as it does for the state's largest physics program—your child could face closer to a 0.77 ratio, meaning nearly eight months of gross income to cover their loans. Physics graduates often pursue graduate school or research positions with delayed earnings growth, which makes that initial earning power particularly important for managing debt.

Given the estimation uncertainty and Indiana's lower physics wage floor, understand this as a program where the value proposition depends heavily on what comes next. If your child plans graduate school in physics or a related field, the debt load is reasonable. If they're banking on immediate post-bachelor's employment in Indiana's market, comparable programs suggest more modest starting salaries than national figures might lead you to expect.