Rasmussen University-Illinois
For-profit Community College in Rockford, IL. Six-year graduation rate 43%. Median 10-year earnings $39,080.
Median earnings ten years after entry come to $39,080, below what most undergraduate institutions return — the central fact to weigh against cost here. Six-year completion sits at 43%, near the national average for undergraduate institutions. Median debt at graduation is $20,899, 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
Academics
Completion is middling: 43% finish inside six years. Just 53% of first-years come back — most of the completion gap opens in year one. Retention drops to 35% for part-time students, a gap worth weighing if full-time study is not realistic. At 6:1, students get materially more instructor contact than at a typical public university. Being a for-profit two-year institution is the single most useful context for these numbers — the sector's spread is wide enough that the school-level figures matter more than usual.
Financial Aid
IPEDS Student Financial Aid · 2023-24 · grant and loan rates against 1,330 degree- or certificate-seeking undergraduates
Students pay an average of $20,447 annually once grants are applied. Income makes less difference than usual: $19,000 at $0–30k, $17,655 at $110k+. Grant aid reaches 76% of students at an average of $7,275. Most students borrow — 78% 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 · 32 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 | $19,000 |
| $30–48k | $21,396 |
| $48–75k | $20,481 |
| $75–110k | $24,604 |
| $110k+ | $17,655 |
IPEDS Student Financial Aid · 2023-24
Federal student loans went to 1,041 of these 1,330 students, totalling $9,369,728 — an average of $9,001 each.
IPEDS Student Financial Aid · 2023-24
Local housing costs
Typical rents near campus (Winnebago County) — budget these against any cost-of-attendance housing estimate.
HUD Fair Market Rents (40th-percentile gross rent incl. utilities) · FY2026
Veterans & GI Bill
VA GI Bill Comparison Tool (Veterans Affairs GIDS)