Economics at Lake Forest College

Lake Forest College's economics graduates earn $62,870 four years out—a solid 34% above Illinois's median for the field and ahead of larger programs like Olivet Nazarene. While the small sample size (under 30 graduates) means these figures could swing significantly year-to-year, the program outperforms 60% of Illinois economics programs despite Lake Forest's moderate selectivity. The $27,000 median debt is slightly higher than the state average, but the debt-to-earnings ratio of 0.50 remains manageable, meaning graduates typically owe about half their starting salary.

The 18% earnings growth from year one to year four suggests graduates are finding their footing in the job market, though they remain well behind the earning power of elite Chicago-area programs like Northwestern or UChicago. Still, for families considering smaller liberal arts colleges in Illinois, Lake Forest delivers outcomes that punch above the state median without the debt burden that often comes with private education. The relatively modest debt load—lower than 95% of economics programs nationally—gives graduates more financial flexibility early in their careers.

Given the small sample caveat, verify these results hold for recent cohorts, but the combination of below-average debt and above-average state earnings makes this program worth serious consideration for students drawn to Lake Forest's small-college environment.