How much debt do University of Minnesota psychology graduates have?

The median federal loan balance is $20,674, which ranks 2nd lowest of 23 psychology bachelor's programs in Minnesota. That works out to about $219 a month over 10 years.

Is a psychology degree from University of Minnesota worth it?

On the numbers, yes for most students. Debt equals 57% of first-year earnings, against a national median of 78%, and the share of borrowers in default two years into repayment is 2% or less. If the highest possible early salary is the main goal, several Minnesota programs report higher pay, usually with more debt.

University of Minnesota Psychology (Bachelor's): Tuition, Graduate Salary, and Debt

Q: Do University of Minnesota psychology graduates stay in Minnesota?

Most do. 77% (366 of 474) were working in Minnesota one year after graduating.

Bachelor's in Psychology, General
Public university
Minneapolis, MN
About 531 graduates a year

College Scorecard June 2026 release · BLS wages May 2025

The short answer

University of Minnesota psychology graduates earn more than graduates of most psychology programs nationally, $36,294 in their first year. Where this program stands out is debt. The typical graduate leaves with $20,674 in federal loans, less than at 85% of psychology programs in the country. Strong value, but not one of the highest-paying psychology degrees in Minnesota.

First-year earnings$36,29484th percentile of 875 programs nationally

Earnings after 5 years$57,65659% more than year one

Median federal debt$20,6742nd lowest of 23 Minnesota programs

Debt-to-earnings57%Minnesota median 70%, national 78%

How it compares

Each figure is the median for graduates of the program. The Minnesota and national columns are the medians across all psychology bachelor's programs that report the figure.

	University of Minnesota	Minnesota	National
Earnings, 1 year after graduating	$36,294	$36,243	$31,479
Earnings, 5 years after graduating	$57,656	$50,991	$49,019
Median federal debt at graduation	$20,674	$26,024	$25,624
Debt as share of first-year pay	57%	70%	78%
Programs compared		23	875

Five years out, University of Minnesota graduates earn more than the national figure and about $6,665 more than the Minnesota median.

Debt and first-year pay at every Minnesota psychology program

Programs in the upper left give graduates higher pay for less debt. Dashed lines mark the Minnesota medians.

University of MinnesotaOther Minnesota programs

Hover over or tap a dot to see the school. Only programs that report both earnings and debt are shown.

What graduates earn over time

Pay rises about 59% between the first and fifth year.

University of Minnesota grads, year 1$36,294

University of Minnesota grads, year 5$57,656

All Minnesota psychology grads, year 5$50,991

Year 1 and year 5 figures come from different graduating classes, so the growth rate is an estimate.

Does family income change the outcome?

Graduates who received Pell Grants, which go to students from lower-income families, earned $1,655 less in their first year than other graduates. Students who expect to rely on grants should weigh this gap.

Pell Grant recipients, year 1 earnings$35,119Median debt $20,674

Other graduates, year 1 earnings$36,774Median debt $20,661

Paying back the loans

On a standard 10-year plan, the median debt means a payment of about $219 a month, or 7.2% of a graduate's typical monthly pay in the first year.

Two years into repayment (521 borrowers)	Share
Paid off in full	11–12%
Paying down the balance	33–34%
Paused payments (forbearance)	11–12%
In default	2% or less

The government publishes these as ranges to protect privacy. They were measured in 2018 to 2020, partly during the pandemic pause on federal loan payments, so the forbearance share may be higher than usual. Separately, 186 parents took out Parent PLUS loans for these students, with a median of $29,799.

Where graduates work, and what the pay is worth

77% of graduates (366 of 474) were working in Minnesota one year after graduating. Prices in the Minneapolis area are about 5% above the national average, so a $36,294 salary here buys what about $34,624 buys in a typical US city.

Careers this field leads to

These are the jobs that the federal crosswalk from fields of study to occupations links to psychology, largest first. Pay is the median across all experience levels.

Clinical and Counseling Psychologists

$107,030

Median pay in Minnesota. 1,290 people work in this job in Minnesota. Nationally, jobs are projected to grow 12% from 2025 to 2035, with about 4,100 openings a year. Typical education to start: doctoral or professional degree.

Bottom 10%: $62,290Top 10%: $163,610

Social Science Research Assistants

$44,920

Median pay in Minnesota. 300 people work in this job in Minnesota. Nationally, jobs are projected to grow 5% from 2025 to 2035, with about 4,900 openings a year. Typical education to start: bachelor's degree.

Bottom 10%: $38,080Top 10%: $68,070

Industrial-Organizational Psychologists

$193,950

Median pay nationwide. Nationally, jobs are projected to grow 7% from 2025 to 2035, with about 300 openings a year. Typical education to start: master's degree.

About University of Minnesota

In-state tuition and fees	$17,214 / year
Out-of-state tuition and fees	$38,362 / year
Average net price after aid	$16,778 / year
Admission rate	80%
Graduation rate (within 6 years)	85%
Undergraduate students	31,855

Psychology ranks 58th of 88 bachelor's programs at University of Minnesota by first-year earnings. The top three are Computer Engineering ($85,672), Computer Science ($82,861), and Electrical Engineering ($79,808).

Other psychology bachelor's programs near Minneapolis

School	Distance	Year 1 pay	Debt
University of MinnesotaMinneapolis, MN · public		$36,294	$20,674
Augsburg UniversityMinneapolis, MN · private nonprofit	Under 1 mi	$29,743	$27,750
Walden UniversityMinneapolis, MN · private for-profit	2 mi	$37,944	$52,781
Capella UniversityMinneapolis, MN · private for-profit	2 mi	$39,764	$40,816
University of St Thomas (Minnesota)Saint Paul, MN · private nonprofit	3 mi	$38,396	$27,000
Hamline UniversitySaint Paul, MN · private nonprofit	3 mi	$37,872	$24,512
St Catherine UniversitySaint Paul, MN · private nonprofit	4 mi	$32,426	$29,532
Concordia University-Saint PaulSaint Paul, MN · private nonprofit	4 mi	$36,243	$27,000
University of Northwestern-St PaulSaint Paul, MN · private nonprofit	5 mi	$37,758	$24,749

Common questions

The median graduate earns $36,294 one year after graduating and $57,656 five years after. The median across psychology bachelor's programs in Minnesota is $36,243.

About this data

Earnings and debt only include students who received federal financial aid (grants or loans).
Earnings only count graduates who were working and not enrolled in more school. Graduates who went straight to further study are not included.
Debt only includes federal loans. Private loans and credit cards are not counted.
Some schools with several campuses report one combined figure for all of them. We count each of those schools once, and leave them out of Minnesota comparisons when their main campus is in another state.
Scorecard figures describe graduating classes from several years ago. BLS wages are from May 2025.
School-level numbers like tuition, admission rate, and graduation rate are for the whole school, not the psychology program.

Sources

U.S. Department of Education, College Scorecard, field of study and institution files, June 2026 release
Bureau of Labor Statistics, Occupational Employment and Wage Statistics, May 2025
Bureau of Labor Statistics, Employment Projections 2025 to 2035
Bureau of Economic Analysis, Regional Price Parities, 2024
NCES, CIP 2020 to SOC 2018 crosswalk, and IPEDS institution directory, 2024

Psychology bachelor's programs in Minnesota, ranked23 programs by pay and debt Psychology bachelor's programs in the US, ranked875 programs by pay and debt All University of Minnesota programs, ranked91 programs by pay and debt