Lake Erie College
Private College in Painesville, OH. Six-year graduation rate 38%. Median 10-year earnings $50,417.
The median ten-year earnings figure of $50,417 sits near the national middle rather than at either extreme. Only 38% finish within six years, so roughly three in five students leave without the credential they enrolled for. Median debt at graduation is $26,000, roughly typical for an undergraduate degree.
Earnings: College Scorecard, median ten years after entry across students who received federal aid — completers and non-completers alike.
- ✓ 3-year loan default 0.0% — below national benchmark
- ! Mobility score 0.1 — limited economic uplift documented
Admissions
Lake Erie College accepts 70% of applicants, which makes it accessible to most students who meet the baseline requirements. Only 1,370 students applied, so treat these rates as directional — small pools swing sharply between cycles. A 20% yield rate is low: the admitted pool is much larger than the entering class.
Test score bands (middle 50% of submitters)
These bands describe the enrolled first-years who submitted a score, not the entering class. Where most students apply test-optional the submitters are a self-selected, higher-scoring group.
| Test | 25th–75th percentile | Submitted |
|---|---|---|
| SAT Evidence-Based Reading | — | — |
| SAT Math | — | |
| ACT Composite | — | — |
IPEDS Admissions · 2024
Apply at Lake Erie College →Academics
A six-year graduation rate of 38% means finishing is closer to the exception than the rule. 59% first-year retention is low enough to be the defining risk of enrolling here. Retention and graduation track closely, so most of the attrition shows up in the first year rather than after it. A 12:1 ratio points to small classes and accessible faculty. Judge these figures against other institutions of the same type — sector explains more of the variation in completion than any single campus factor.
Financial Aid
IPEDS Student Financial Aid · 2023-24 · grant and loan rates against 678 degree- or certificate-seeking undergraduates
Students pay an average of $22,892 annually once grants are applied. Income makes less difference than usual: $20,195 at $0–30k, $22,370 at $110k+. Grant aid is widespread — 91% of students receive it, averaging $26,300. Most students borrow — 60% take federal loans to cover the gap.
Entering first-year students
A different, smaller group than the rates above: full-time students in their first year of college anywhere. The grant series here also excludes the "other sources" counted in the all-undergraduate figure, so the two are not comparable.
IPEDS Student Financial Aid · 2023-24 · 187 students
Net price by family income
The same students as the headline above, limited to those who received Title IV federal aid — a narrower group, with a lower overall average. IPEDS publishes no combined figure across these bands, so they should not be averaged into one.
| Family income band | Average net price |
|---|---|
| $0–30k | $20,195 |
| $30–48k | $19,575 |
| $48–75k | $18,548 |
| $75–110k | $23,205 |
| $110k+ | $22,370 |
IPEDS Student Financial Aid · 2023-24
Federal student loans went to 406 of these 678 students, totalling $2,426,201 — an average of $5,976 each.
IPEDS Student Financial Aid · 2023-24
Local housing costs
Typical rents near campus (Lake County) — budget these against any cost-of-attendance housing estimate.
HUD Fair Market Rents (40th-percentile gross rent incl. utilities) · FY2026
Veterans & GI Bill
Heightened Cash Monitoring (Financial Responsibility); School placed on Heightened Cash Monitoring
VA GI Bill Comparison Tool (Veterans Affairs GIDS)