Lake Michigan College — ROI, Cost & Payback
Lake Michigan College charges a net price of $6,680/yr after aid — a 2-year total of $13,360. Median earnings ten years after entry are $34,466, below the $48,360 high-school baseline, so on this institution-wide metric the degree does not clear its cost. Program choice is what changes that. (Scorecard, 2026 · our math.)
On institution-wide earnings, Lake Michigan College does not clear its cost — it ranks #67 of 85 Michigan colleges we track by ROI. The specific program you pick moves this more than the school average.
| Measure | Value | Source |
|---|---|---|
| Net price (after aid) | $6,680/yr | Scorecard, 2026 |
| Total net cost (2 yrs) | $13,360 | our math |
| Median earnings, 10 yrs after entry | $34,466 | Scorecard, 2026 |
| Earnings premium over HS baseline | -$13,894/yr | our math |
| Median debt (completers) | $9,000 | Scorecard, 2026 |
| Payback | does not clear | our math |
| 20-year net return | -$291,240 | our math |
College Scorecard (2026 release), institution-level · payback and returns are our math.
The arithmetic, on Lake Michigan College's own numbers. Net price $6,680 × 2 years = $13,360 total. Median earnings $34,466 fall $13,894 short of the $48,360 high-school baseline, so the premium this formula divides by is not positive and no break-even year exists on institution-wide pay. A programme here earning $58,360 would clear the $13,360 bill in about 1.3 years — the gap, not the price, is what blocks payback. Full method.
How much debt do Lake Michigan College students graduate with?
A median $9,000 in federal loans among completers, or 26% of the $34,466 its graduates earn ten years out — our math. The figure excludes private loans and students who left before finishing.
What share of Lake Michigan College students graduate?
22% finish their degree — 78% leave carrying the cost without the credential. Spread the $13,360 bill across that completion rate and the cohort pays $60,727 per graduate produced — our math, and the figure a payback number never shows.
Is Lake Michigan College expensive compared with other Michigan colleges?
Its $6,680 net price runs $7,621 below the $14,301 median across the 85 Michigan colleges we profile, and $15,242 less across the full degree.