Head-to-head comparison
Mercer University vs Spelman College: which has better ROI?
Option A Macon, GA
Mercer University
- Net price / year
- $23,847
- Earnings, 10 years
- $58,354
- Payback
- 9.5 yrs
Option B Atlanta, GA
Spelman College
- Net price / year
- $38,967
- Earnings, 10 years
- $59,993
- Payback
- 13.4 yrs
Mercer University has the better ROI: it clears its 4-year net cost of $95,388 in 9.5 years versus 13.4 years at Spelman College, on median earnings of $58,354 vs $59,993 ten years out. (Scorecard, 2026 · our math.)
| Measure | Mercer University | Spelman College |
|---|---|---|
| Net price / yr | $23,847 | $38,967 |
| Total net cost | $95,388 | $155,868 |
| Median earnings, 10 yrs | $58,354 | $59,993 |
| Median debt | $24,199 | $25,000 |
| Payback | 9.5 yrs | 13.4 yrs |
| 20-year net return | $104,492 | $76,792 |
College Scorecard (2026), institution-level · payback and returns are our math. Figures blend all majors.
The short answer
Which is cheaper, Mercer University or Spelman College?
Mercer University, at $23,847 a year after aid versus $38,967 — a gap of $15,120 a year, or $60,480 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 Mercer University or Spelman College graduates earn more?
Spelman College graduates report a median $59,993 ten years after entry, $1,639 more than the $58,354 at Mercer University. 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, Mercer University or Spelman College?
Mercer University: its completers carry a median $24,199 in federal loans versus $25,000 at Spelman College, a difference of $801. 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?
78% of students finish at Spelman College, against 70% at Mercer 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.