Analysis
Something unusual happens with Indiana State's mathematics program: similar programs in Indiana suggest starting earnings around $58,764, yet by year four, graduates at this specific institution are earning $45,954βa backward trajectory that runs counter to typical career progression. This decline raises questions about whether graduates are finding work aligned with their degree or are underemployed relative to their training.
The estimated $22,000 debt load appears manageable in isolation, sitting right at the state median and just above the national benchmark. With a debt-to-earnings ratio of 0.37 based on those first-year estimates from peer programs, the initial financial picture seems reasonable. But that fourth-year earnings dip changes the calculus considerably, suggesting the return on investment may erode rather than compound over time.
For parents, the key issue is that this program's outcomes diverge from the typical Indiana mathematics trajectoryβone where Rose-Hulman and Notre Dame graduates start near $70,000-$86,000, and even Purdue's program launches graduates at $49,000 who presumably grow from there. Without clearer data on what happens to Indiana State's mathematics majors specifically, you're weighing modest debt against an uncertain earnings path that, based on available evidence, moves in the wrong direction after graduation.
Where Indiana State University Stands
Earnings vs. debt across all mathematics bachelors's programs nationally
Earnings Over Time
How earnings evolve from 1 year to 4 years after graduation
| School | 1 Year | 4 Years | Growth |
|---|---|---|---|
| Indiana State University | β | $45,954 | β |
| Rose-Hulman Institute of Technology | $85,977 | $96,973 | +13% |
| University of Notre Dame | $65,302 | $87,725 | +34% |
| Indiana University-Bloomington | $59,277 | $74,190 | +25% |
| Indiana University-East | $58,764 | $55,844 | -5% |
Compare to Similar Programs in Indiana
Mathematics bachelors's programs at peer institutions in Indiana (37 total in state)
Scroll to see more β
| School | In-State Tuition | Earnings (1yr)* | Earnings (4yr) | Median Debt* | Debt/Earnings |
|---|---|---|---|---|---|
| $9,992 | $58,764* | $45,954 | $22,000* | β | |
| $56,674 | $85,977* | $96,973 | $25,000* | 0.29 | |
| $62,693 | $65,302* | $87,725 | $19,000* | 0.29 | |
| $11,790 | $59,277* | $74,190 | $22,000* | 0.37 | |
| $8,179 | $58,764* | $55,844 | $22,388* | 0.38 | |
| $9,992 | $49,387* | β | $18,820* | 0.38 | |
| National Median | β | $48,772* | β | $21,500* | 0.44 |
Career Paths
Occupations commonly associated with mathematics graduates
Natural Sciences Managers
Clinical Research Coordinators
Water Resource Specialists
Data Scientists
Business Intelligence Analysts
Clinical Data Managers
Mathematicians
Statisticians
Biostatisticians
Mathematical Science Teachers, Postsecondary
Secondary School Teachers, Except Special and Career/Technical Education
Mathematical Science Occupations, All Other
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 Indiana State University, approximately 39% 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.
Estimated Earnings: Actual earnings data is not available for this program (typically due to privacy thresholds when fewer than 30 graduates reported earnings). The estimate shown is based on the median of 7 similar programs in IN. Actual outcomes may vary.