Lake Forest College
Lake Forest, IL 60045-2338 — Private Nonprofit
Value Score: 65/100 | ROI Score: -73 | Affordability Score: 35/100
Tuition (In-State): $56,402 | Out-of-State: $56,402
Acceptance Rate: 56.8% | Graduation Rate: 74.3% | Retention Rate: 89.9%
Median Earnings (10yr): $61,825 | Median Debt: $26,158
SAT Average: 1343 | ACT Midpoint: 29
Student Body Size: 1,813 (small)
Pell Grant Recipients: 32.2% | Federal Loan Rate: 66.5%
Average Faculty Salary: $9,044/month
Tuition & Affordability Analysis
In-state tuition at Lake Forest College is $56,402 per year, which is 43% above the national average for private institutions.
Out-of-state students pay $56,402/year — a premium of $0 over in-state rates. Over four years, out-of-state students pay approximately $0 more than their in-state peers.
Estimated four-year tuition cost: $225,608 (tuition only, not including room, board, and fees).
What You Actually Pay: Net Price by Family Income
The sticker price rarely reflects what families actually pay. After grants and scholarships, here is the average net price by family income bracket at Lake Forest College:
- Families earning $0–$30,000: $19,605/year
- Families earning $30,001–$48,000: $20,210/year
- Families earning $48,001–$75,000: $21,481/year
- Families earning $75,001–$110,000: $26,055/year
- Families earning $110,000+: $35,341/year
Low-income families receive an average discount of $36,797/year, paying just 35% of the sticker price.
Admissions Snapshot
Lake Forest College has an acceptance rate of 56.8%, placing it in the Moderately Selective (50–70%) category. This means roughly 798 students apply each year.
The average SAT score of admitted students is 1343, 27% above the national average. This reflects a strong academic student body.
The ACT midpoint is 29, 38% above the national average.
Graduate Outcomes & Return on Investment
74.3% of students at Lake Forest College complete their degree, 20% above the national average. This is a solid graduation rate.
First-year retention rate: 89.9% (11% above the national average). This indicates most students are satisfied enough to return for sophomore year.
Graduates of Lake Forest College earn a median salary of $61,825 ten years after enrollment, 51% above the national average. This represents a $26,825/year earnings premium over the average high school diploma holder, or $804,750 in additional lifetime earnings over a 30-year career.
The median student debt at graduation is $26,158, 22% above the national average. On a standard 10-year repayment plan at 5.5% interest, this translates to approximately $284/month, with a total repayment of $34,080 (including $7,922 in interest).
Debt-to-Earnings Ratio: 0.42x. This is an excellent ratio — graduates carry manageable debt relative to their earning power.
Breakeven Point: Based on the earnings premium over high school graduates, a degree from Lake Forest College pays for itself in approximately 9 years. This is a reasonable investment timeline.
Financial Aid Profile
32.2% of students at Lake Forest College receive Pell Grants (federal need-based aid for families earning under ~$60,000), near the national average. This is near the national average, reflecting a typical economic diversity among the student body.
66.5% of students take federal loans, 42% above the national average. This high borrowing rate means most students need loans to attend. Factor loan payments into your decision carefully.
Average faculty salary: $9,044/month, 4% above the national average. Higher faculty salaries generally indicate greater investment in teaching quality and ability to attract experienced professors.
Student Body & Campus Diversity
Lake Forest College enrolls 1,813 undergraduate students. This mid-sized institution offers a balance between personalized attention and diverse academic offerings.
Diversity Index: 74/100 (higher = more diverse). Lake Forest College has a highly diverse student body with strong representation across multiple racial and ethnic groups.
Student body composition: White 47%, Hispanic 18%, Black 3%, Asian 6%.
Lake Forest College: A Small Private Institution with Strong Academic Focus and High Tuition
- Lake Forest College: A Liberal Arts Foundation with Chicago's Career Powerhouse at Your Doorstep
- Beyond the Classroom: Unlocking Your Potential with Lake Forest College's Career-Focused Approach
- Is Lake Forest College Worth the Investment? Analyzing Value and Post-Graduation Success
Report Card: Overall Grade D+
Lake Forest College receives an overall grade of D+ based on six dimensions:
- Academics: C+
- Value: F
- Outcomes: B
- Affordability: C-
College Analysis
Lake Forest College is a Private Nonprofit institution in Lake Forest, IL with approximately 1,813 students. Academics: Strong focus on liberal arts with a high graduation rate of 74.26%. Value: High tuition with a moderate affordability score, indicating potential financial strain. Outcomes: Graduates earn a median salary of $61,825 after 10 years, which is above the national average.
The Verdict: Is Lake Forest College Worth It?
Lake Forest College presents a complex value proposition. With an out-of-state tuition of $56,402 and a median 10-year earning potential of $61,825, the immediate return on investment appears modest, especially when factoring in potential student debt. The median debt of $26,158, while not excessively high, adds to the financial burden. The ROI score of -73 further underscores a concern about financial return relative to cost. The earnings are only slightly higher than the debt, suggesting a long payoff period. While the college offers a strong liberal arts education and valuable internship opportunities, particularly within the Chicago area, the sticker price is a significant hurdle. Graduates need to secure positions that offer salaries well above the median to make this a financially sound decision in the short to medium term. It is not a clear 'good deal' given the numbers, nor is it definitively 'overpriced' without considering individual career success and further education. It leans towards being a less financially optimal choice unless students secure substantial financial aid or pursue high-earning career paths immediately after graduation. Recommendation: Proceed with caution, prioritize securing significant financial aid, and have a clear career plan targeting higher-paying industries.
Return on Investment
While the degree from Lake Forest College is valuable, the high tuition costs may not provide a strong return on investment for all students.
Debt Reality Check
Median student debt at Lake Forest College: $26,158. Monthly payment on a standard 10-year plan: $297/month. Total repaid: $35,640 ($9,482 in interest).
Breakeven vs high school diploma: 0.8 years. Debt burden: Manageable. Salary needed for comfortable repayment: $35,640.
Strengths
- Strong academic programs and high graduation rate.
- Diverse student body and low median debt.
Weaknesses
- High tuition costs and moderate affordability score.
- Limited financial aid options.
Academic Profile
SAT Average: 1343. ACT Midpoint: 29. Retention Rate: 89.9%.
Lake Forest College prides itself on a rigorous liberal arts education, emphasizing critical thinking, interdisciplinary study, and undergraduate research. While the college offers a broad range of majors, certain departments consistently shine. The Business and Economics programs are particularly strong, benefiting from the college's proximity to Chicago's financial hub, offering students excellent internship and networking opportunities. The English and History departments are also highly regarded, fostering strong writing and analytical skills. With a student-faculty ratio that is likely around 11:1 (inferred from typical private liberal arts college data, as specific ratio is not provided), students can expect personalized attention from faculty. The college actively encourages undergraduate research, with many students presenting their work at the annual Student Symposium or pursuing independent study projects. The Honors Program offers a challenging curriculum for high-achieving students, including smaller seminar-style classes and dedicated advising. Lake Forest College also has a robust study abroad program, with students participating in exchanges and programs across the globe, often integrated into their major coursework. Academic support is readily available through the Academic Success Center, offering tutoring, writing support, and academic coaching, ensuring students have the resources to thrive in their demanding coursework.
Financial Aid Guide for Lake Forest College
Pell Grant recipients: 32.2%. Students taking federal loans: 66.5%.
Navigating financial aid at Lake Forest College involves understanding both merit-based and need-based aid opportunities. As a private institution with a sticker price of $56,402, the college is committed to making its education accessible. Merit scholarships are a significant component, awarded based on academic achievement (GPA, rigor of coursework) and sometimes extracurricular involvement. While specific SAT/ACT score ranges are not provided, a strong academic record is paramount for these awards. Need-based aid is determined through the FAFSA and CSS Profile, considering family income, assets, and other factors. Many students receive a combination of grants, scholarships, and loans. Work-study opportunities are also available, providing students with on-campus employment to help cover living expenses. Typical aid packages can vary widely, but for families with incomes below $75,000, it's not uncommon to see aid packages that significantly reduce the net cost of attendance, potentially bringing it down to the $20,000-$35,000 range, especially with strong academic merit. For families with higher incomes, merit scholarships become even more critical. Scholarship tips include applying early, highlighting unique achievements and leadership roles in essays and applications, and researching external scholarships. Negotiating financial aid at Lake Forest College is possible, particularly if you have a competing offer from a similarly ranked institution or if there has been a significant change in your family's financial circumstances. Be prepared to present a well-documented case to the financial aid office.
Hidden Costs at Lake Forest College
- Room and board costs can range from $15,000 to $18,000 annually, depending on the housing selection and meal plan chosen.
- Textbooks and course materials can easily add $1,000 to $1,500 per academic year.
- Student activity fees, technology fees, and other miscellaneous campus fees can total around $500 to $800 per year.
- Transportation to and from campus, especially for students traveling long distances or frequently visiting home, can cost $500 to $2,000+ annually.
- Personal expenses, including toiletries, entertainment, and snacks, can add $1,000 to $2,000 per year.
- Health insurance, if not covered by a parent's plan, can be an additional $2,000 to $4,000 per year.
- Parking permits for students who bring cars to campus can cost $200 to $400 annually.
Alumni Outcomes & Career Paths
Lake Forest College graduates enter a diverse job market, with many leveraging their liberal arts education to find roles across various sectors. While specific recruitment data from major corporations isn't always publicly detailed for smaller institutions, alumni often find opportunities in the greater Chicago metropolitan area. Common industries attracting Lake Forest graduates include finance, marketing, education, healthcare, and technology. Companies like Deloitte, Northwestern Mutual, and various Chicago-based financial firms frequently appear in alumni career paths. The college emphasizes experiential learning, with a strong focus on internships. The Career Services office at Lake Forest College actively works to connect students with these opportunities, often through established relationships with local businesses and alumni networks. Many students secure internships at organizations such as the Art Institute of Chicago, local hospitals, and tech startups in the Chicago area, which can serve as direct pipelines to full-time employment. Graduate school placement is also a significant outcome for a portion of the student body, with alumni pursuing advanced degrees in fields like law, business, and various sciences at institutions such as Loyola University Chicago, DePaul University, and others. Notable alumni include figures like actor Scott Bakula and former NFL player and coach Mike Singletary, showcasing a range of successful career trajectories. Geographic hiring patterns strongly favor the Chicago metropolitan area due to the college's proximity and the robust job market there, though graduates also find positions in other major cities across the U.S.
Campus Life & Culture at Lake Forest College
Lake Forest College attracts a diverse student body, with a significant portion coming from Illinois and surrounding states, but also drawing students from across the nation and internationally. The student body is characterized by intellectual curiosity and a desire for a personalized liberal arts education. Students who thrive here are often independent thinkers, engaged community members, and those who appreciate a balance between academic rigor and a supportive, close-knit campus environment.
Lake Forest College cultivates a close-knit, engaged community on its picturesque, historic campus, nestled in the affluent North Shore suburb of Chicago. The 'vibe' is often described as intellectually curious and community-oriented, with students who are both academically driven and socially aware. With an undergraduate population of just over 1,800, it’s easy to build meaningful connections. Residential life is a cornerstone, with most students living on campus for at least three years. The college offers a variety of housing options, from traditional residence halls in historic buildings like Durand Hall to apartment-style living in the South Quad. The dining experience is centered around the Johnson Dining Hall, offering a range of options, with late-night snacks and vegetarian/vegan choices available. Student organizations are plentiful, covering a wide spectrum of interests from academic clubs like the Forensics Team to cultural groups and hobby-based organizations. While Greek life exists, it's not the dominant social force it is at larger institutions, offering a more balanced social scene. The college hosts numerous campus-wide events, including the popular 'Forest Fest' in the fall and the 'Spring Fling' carnival, fostering a sense of shared experience. Athletics, while not a primary focus for all students, offers opportunities for participation in NCAA Division III sports, with strong support for club and intramural activities. The proximity to Chicago, accessible via a short train ride, provides students with ample opportunities for internships, cultural excursions, and weekend adventures, blending the benefits of a traditional liberal arts college with the resources of a major metropolitan area.
Campus Highlights
- Historic "Old Main" building, a stunning Gothic Revival landmark.
- The beautiful, arboretum-like campus setting in affluent Lake Forest.
- Proximity to Chicago via the Metra train for internships and city exploration.
- Strong emphasis on undergraduate research and faculty mentorship.
- The "Forest Fest" and "Spring Fling" traditions that unite the student body.
- A close-knit community feel due to the smaller student population.
- The "First Year Experience" program designed to ease the transition to college life.
Location & Regional Advantages
Lake Forest College's location in Lake Forest, Illinois, offers a unique blend of suburban tranquility and access to a major metropolitan job market. The town itself boasts a high quality of life, characterized by its affluent community, beautiful Lake Michigan shoreline, and a generally safe environment. The cost of living in Lake Forest is significantly higher than the national average, particularly for housing, which is a factor prospective students and their families should consider. However, the proximity to Chicago, just a 30-40 minute train ride away, is a substantial geographic advantage. This provides students with unparalleled access to a vast and diverse job market, including major hubs for finance, technology, marketing, healthcare, and the arts. Major corporations headquartered or with significant operations in Chicago, such as McDonald's, United Airlines, and numerous financial institutions, represent potential employers for graduates. The Metra Union Pacific North Line directly connects Lake Forest to downtown Chicago, facilitating internships, networking events, and post-graduation job searches. While the weather is typical of the Midwest with cold winters and warm summers, the overall environment is conducive to focused study and offers recreational opportunities along the lakefront and in nearby nature preserves. This strategic location allows students to benefit from a peaceful, focused academic setting while remaining closely connected to extensive career opportunities.
How to Get Into Lake Forest College
Lake Forest College seeks students who are academically prepared, intellectually curious, and likely to contribute positively to its close-knit community. Given its 56.8% admission rate, it's a selective but accessible institution. Early Decision (ED) and Early Action (EA) are advantageous, signaling strong interest and potentially improving your chances, especially if your profile aligns well with the college's typical admitted student. The admissions committee values a strong GPA, challenging coursework (AP, IB, honors classes), and a demonstrated passion for learning. While SAT/ACT scores are not provided, strong standardized test scores would have historically been a plus. Focus on essays that showcase your personality, intellectual curiosity, and how you'll engage with the Lake Forest community. Highlight leadership experiences, unique talents, and any contributions you've made to your school or community. Demonstrated interest is important; engage with the college through campus visits (virtual or in-person), attending information sessions, and connecting with admissions counselors. The ideal timeline involves having your application completed by the ED/EA deadlines (typically November 1st/15th) and the Regular Decision deadline (usually January 15th) to maximize scholarship and admission opportunities.
How Lake Forest College Compares to Similar Schools
Similar schools: Wheaton College (IL), North Central College, Augustana College (IL), Knox College
Advantages
- Proximity to the major metropolitan job market of Chicago, offering more direct internship and employment opportunities.
- A slightly more selective admissions profile compared to some regional peers, potentially indicating a stronger academic cohort.
- Strong emphasis on experiential learning and career services with established connections in the Chicago business community.
Disadvantages
- Higher tuition cost compared to some regional public or private alternatives.
- Lower median earnings and a less favorable ROI score compared to some peer institutions.
- Smaller alumni network size compared to larger or more established liberal arts colleges.
Best For
- Prospective students should consider the high tuition costs and potential financial strain.
- Students seeking a larger campus or more diverse extracurricular activities may find other options more suitable.
Avoid If
- Students looking for a more affordable education with similar outcomes may want to explore other options.
- Those with a preference for larger institutions with more diverse extracurricular activities might find better fits elsewhere.
Frequently Asked Questions about Lake Forest College
How much does it cost to attend Lake Forest College?
In-state tuition at Lake Forest College is $56,402 per year, and out-of-state tuition is $56,402 per year. The median student debt at graduation is $26,158.
What is the acceptance rate at Lake Forest College?
Lake Forest College has an acceptance rate of 56.8%.
What is the graduation rate at Lake Forest College?
Lake Forest College has a graduation rate of 74.3%.
How much do Lake Forest College graduates earn?
The median earnings for Lake Forest College graduates 10 years after enrollment is $61,825. With median debt of $26,158, graduates earn roughly 2.4x their debt level annually.
How big is Lake Forest College?
Lake Forest College has approximately 1,813 students and is classified as a small institution. It is located in Lake Forest, IL and is a Private Nonprofit institution.
Is Lake Forest College worth the cost?
Lake Forest College has an ROI score of -73 out of 100. With in-state tuition of $56,402 per year and median post-graduation earnings of $61,825, the data suggests the return on investment may be below average.
Where is Lake Forest College located?
Lake Forest College is located in Lake Forest, IL. It is a Private Nonprofit institution with approximately 1,813 students.
How much student debt do Lake Forest College graduates have?
The median student debt for Lake Forest College graduates is $26,158. With median earnings of $61,825 ten years after enrollment, graduates can expect a debt-to-income ratio of 42%.
Is Lake Forest College a good college?
Lake Forest College has a graduation rate of 74.3% and median post-graduation earnings of $61,825. Highly selective admissions with a 56.81% acceptance rate.
How does Lake Forest College compare to similar colleges?
Diverse student body with a significant Asian population (6.23%). Compared to peer institutions, Lake Forest College offers a strong academic experience but at a high cost, making it less affordable.
What career prospects do Lake Forest College graduates have?
Graduates of Lake Forest College are well-prepared for careers in a variety of fields, particularly those requiring strong analytical and communication skills.
What should prospective students know about Lake Forest College?
Lake Forest College is positioned in a competitive market for small, private liberal arts colleges, attracting students from diverse backgrounds.
What makes Lake Forest College stand out?
Low median debt of $26,158 upon graduation.
What are the pros and cons of attending Lake Forest College?
Located in a suburban setting in Lake Forest, IL.
Explore More
Colleges in Illinois
Browse all colleges in Illinois
Similar Schools
College Rankings
Research Tools
H-1B Visa Salary Data
- H-1B Salaries in Illinois — Visa sponsorship salary data for Illinois
- Top H-1B Sponsors — Companies sponsoring work visas
- H-1B Salary Calculator
Visit Lake Forest College official website
View on College Scorecard (Dept. of Education)
Analysis based on U.S. Department of Education data. Not enrollment advice. Verify information with the institution directly.