Analysis
Holy Cross College's business program produces a troubling outcome: graduates earn just $33,043 in their first year—landing in the bottom 10% of Indiana business programs and the bottom 5% nationally. That's $14,000 below the state median and $15,000 below the national average. Even with a 76% earnings increase by year four, graduates reach only $58,000, which barely catches up to where most business majors start. The $23,586 in median debt isn't catastrophic, but it represents 71% of first-year earnings, creating real financial strain during those critical early years when graduates should be establishing themselves.
The comparison to nearby institutions sharpens the concern. Just across Notre Dame Avenue, University of Notre Dame business graduates earn $73,000 right out of the gate. Even regional Indiana University campuses—serving similar student populations—produce first-year earnings 50-60% higher. This isn't about elite versus non-elite; it's about fundamental career outcomes that lag dramatically behind accessible alternatives.
For families considering this program at full cost, the math is difficult to justify. The strong earnings growth suggests graduates eventually find their footing, but those first few years—when debt payments hit hardest—will be financially precarious. Unless Holy Cross offers substantial financial aid that brings actual cost well below the debt figures here, Indiana families have better business program options that won't leave their children spending years catching up to where peers started.
Where Holy Cross College Stands
Earnings vs. debt across all business/commerce bachelors's programs nationally
Earnings Distribution
How Holy Cross College graduates compare to all programs nationally
Earnings Over Time
How earnings evolve from 1 year to 4 years after graduation
| School | 1 Year | 4 Years | Growth |
|---|---|---|---|
| Holy Cross College | $33,043 | $58,185 | +76% |
| Indiana University-Bloomington | $71,100 | $89,404 | +26% |
| University of Notre Dame | $73,170 | $84,414 | +15% |
| Indiana University-Indianapolis | $52,467 | $59,798 | +14% |
| Indiana University-East | $54,860 | $57,188 | +4% |
Compare to Similar Programs in Indiana
Business/Commerce bachelors's programs at peer institutions in Indiana (22 total in state)
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| School | In-State Tuition | Earnings (1yr) | Earnings (4yr) | Median Debt | Debt/Earnings |
|---|---|---|---|---|---|
| $35,500 | $33,043 | $58,185 | $23,586 | 0.71 | |
| $62,693 | $73,170 | $84,414 | — | — | |
| $11,790 | $71,100 | $89,404 | $19,500 | 0.27 | |
| $8,179 | $54,860 | $57,188 | $25,250 | 0.46 | |
| $10,449 | $52,467 | $59,798 | $22,003 | 0.42 | |
| $8,179 | $48,238 | $51,179 | $20,500 | 0.42 | |
| National Median | — | $47,506 | — | $26,000 | 0.55 |
Career Paths
Occupations commonly associated with business/commerce graduates
Sales Managers
Industrial Production Managers
Quality Control Systems Managers
Geothermal Production Managers
Biofuels Production Managers
Biomass Power Plant Managers
Hydroelectric Production Managers
Construction Managers
Administrative Services Managers
Facilities Managers
Security Managers
Chief Executives
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 Holy Cross College, approximately 29% 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 42 graduates with reported earnings and 44 graduates with debt data. Small samples may not be representative.