Head-to-head comparison
Luther College vs Mount Mercy University: which has better ROI?
Option A Decorah, IA
Luther College
- Net price / year
- $23,097
- Earnings, 10 years
- $59,850
- Payback
- 8 yrs
Option B Cedar Rapids, IA
Mount Mercy University
- Net price / year
- $20,168
- Earnings, 10 years
- $60,787
- Payback
- 6.5 yrs
Mount Mercy University has the better ROI: it clears its 4-year net cost of $80,672 in 6.5 years versus 8 years at Luther College, on median earnings of $60,787 vs $59,850 ten years out. (Scorecard, 2026 · our math.)
| Measure | Luther College | Mount Mercy University |
|---|---|---|
| Net price / yr | $23,097 | $20,168 |
| Total net cost | $92,388 | $80,672 |
| Median earnings, 10 yrs | $59,850 | $60,787 |
| Median debt | $27,000 | $23,699 |
| Payback | 8 yrs | 6.5 yrs |
| 20-year net return | $137,412 | $167,868 |
College Scorecard (2026), institution-level · payback and returns are our math. Figures blend all majors.
The short answer
Which is cheaper, Luther College or Mount Mercy University?
Mount Mercy University, at $20,168 a year after aid versus $23,097 — a gap of $2,929 a year, or $11,716 across the full degree. These are net prices after grants and scholarships, not sticker prices, so they reflect what an aided student pays.
The short answer
Do Luther College or Mount Mercy University graduates earn more?
Mount Mercy University graduates report a median $60,787 ten years after entry, $937 more than the $59,850 at Luther College. Both are institution-wide medians from federal tax records, so a high-paying major at the lower school can beat the average at the higher one.
The short answer
Which leaves students with less debt, Luther College or Mount Mercy University?
Mount Mercy University: its completers carry a median $23,699 in federal loans versus $27,000 at Luther College, a difference of $3,301. The figure counts students who finished; it excludes private loans and anyone who left before graduating.
The short answer
Which graduates more of its students?
71% of students finish at Luther College, against 58% at Mount Mercy University. Completion matters to the ROI arithmetic because a degree that is never finished still carries its cost and its debt, but earns none of the graduate premium above the $48,360 high-school baseline.