University of California-Santa Cruz
Santa Cruz, CA · official site ↗
PublicR1: Doctoral, Very High ResearchLarge
33
Fin. Resilience
Resilience score
vs. 106 peers in its group
University of California-Santa Cruz is a public institution in Santa Cruz, CA, classified by Carnegie as “R1: Doctoral, Very High Research.”
It enrolls about 17,940 undergraduates and is benchmarked here against 106 peer institutions (R1: Doctoral, Very High Research · Public).
On Ibex's Financial Resilience score it rates 33 out of 100 within that peer group, a transparent composite of endowment per undergraduate, net tuition revenue per student, and instructional spend per student.
Its strongest standing relative to peers is avg monthly faculty salary ($17,994, 94th percentile).
Its weakest is admission yield (10.2%).
Peer group
R1: Doctoral, Very High Research · Public
106 institutions
No cross-metric risk flags triggered.
Policy & demographic exposure
How exposed University of California-Santa Cruz is to the structural shifts reshaping higher ed: a composite structural-risk index plus the 2025 federal budget law’s endowment excise tax and Grad PLUS elimination and the demographic enrollment cliff. Only signals that apply to this institution are shown.
Structural risk indexAn indicative 0–100 structural-risk index (higher = more pressure) blending operating margin, months of cash cushion, tuition dependency and the home-state enrollment cliff. Screens for the financial and demographic strain that precedes closures and mergers — directional, not a prediction.
62
ElevatedGrad PLUS exposureShare of the school's graduate federal loan dollars that came from Grad PLUS, the program the 2025 budget law eliminates for new borrowers from July 2026 (FSA Direct Loan data). Higher = more graduate borrowing that will disappear above the new caps.
32.5%
Moderate exposureHigher than 69% of schools nationally
AY2025-26 YTD (through Q2, Dec 2025)
Avg Grad PLUS loanAverage Grad PLUS loan per borrower (FSA). The 2025 law caps unsubsidized grad borrowing at $20,500/yr and ends Grad PLUS — this is the average per-student amount that vanishes above the cap. The depth half of the Grad PLUS shock; pair with Grad PLUS exposure (the reliance share).
$25,355
Above the capHigher than 71% of schools nationally
AY2025-26 YTD (through Q2, Dec 2025)
Enrollment cliff (home state)Projected change in the institution's home-state high-school graduates from 2025 to 2041 (WICHE). The U.S. total falls about 13%; a directional feeder-market signal, not an enrollment forecast.
-27.7%
Severe declineIndicative signals, not forecasts — see each metric’s definition and the methodology. Endowment-tax and Grad PLUS figures appear only where the institution is actually exposed; “nationally” compares against all schools that report each signal.
Turn these signals into action
Seeing exposure is step one. Ibex builds AI agents that monitor and act on exactly these pressures — explore an interactive demo. Live demos run real workflows; the rest are working mockups we build to your institution’s data.
Revenue composition
Where the money comes from
$989.5M total revenue · IPEDS FY2022-23
Tuition & fees is the largest single source at 28% of revenue.
Tuition & fees27.6%
Government appropriations26.8%
Government grants & contracts15.5%
Auxiliary enterprises12.2%
Other revenue9.3%
Private gifts & grants7.0%
Investment return1.5%
Where each dollar of revenue comes from, as a share of total positive revenue. Sources are standardized across public (GASB) and private (FASB) reporting; a net investment loss in a down market is shown as 0% and excluded from the mix.
Net price by income
Average net price by family income
After grant & scholarship aid · Scorecard 2024-25
$0–30K$8,717
$30–48K$10,613
$48–75K$14,418
$75–110K$18,986
$110K+$33,323
Average annual net price (total cost minus grant and scholarship aid) paid by federal-aid recipients in each family-income band. Lower-income bands often pay less where need-based aid is strong.
Financial Health
Net tuition revenue / FTETuition revenue per full-time-equivalent student after institutional aid/discounts — what tuition actually nets.
Average
$13,437
54th percentile in peer grouppeer median $13,325
Instructional spend / FTESpending on instruction per FTE student — how much of the budget reaches the classroom.
Average
$13,595
39th percentile in peer grouppeer median $15,080
Endowment (end of year)Total endowment value at year end — long-term invested wealth that funds operations and cushions shocks.
Below peers
$165M
5th percentile in peer grouppeer median $985.6M
In-state tuition & feesPublished in-state tuition and fees before aid (sticker price).
$16,005
81st percentile in peer grouppeer median $12,183
Out-of-state tuition & feesPublished out-of-state tuition and fees before aid (sticker price).
$50,205
94th percentile in peer grouppeer median $33,272
Avg annual cost of attendanceAverage total annual cost — tuition, fees and living costs — before aid.
$41,179
97th percentile in peer grouppeer median $29,299
Avg monthly faculty salaryAverage monthly salary of full-time faculty (IPEDS) — a proxy for faculty investment.
Strong
$17,994
94th percentile in peer grouppeer median $12,447
Average monthly salary of full-time faculty, as reported to IPEDS.
Average net priceAverage yearly price families actually pay after grants and scholarships.
Average
$17,890
57th percentile in peer grouppeer median $17,339
Endowment per undergradEndowment divided by undergraduate headcount — endowment wealth behind each undergrad.
Below peers
$9,195
6th percentile in peer grouppeer median $45,080
Operating marginNet surplus as a share of total revenue — whether the institution runs in the black.
Thin
2.1%
23rd percentile in peer grouppeer median 6.3%
Net surplus as a share of total revenue (IPEDS FY2022-23): (total revenues − total expenses) ÷ total revenues. A surplus above 4% is strong; a thin surplus near 0% leaves little margin for shocks.
Tuition dependencyTuition's share of total revenue — how exposed the budget is to enrollment swings.
27.6%
69th percentile in peer grouppeer median 22.3%
Tuition & fees as a share of total revenue (IPEDS FY2022-23). Higher = more exposed to enrollment swings.
State appropriations shareState appropriations' share of total revenue — material for public institutions, near zero for private.
26.8%
84th percentile in peer grouppeer median 17.3%
State appropriations as a share of total revenue (IPEDS FY2022-23). Material for public institutions; ~0 for private.
Endowment per FTE studentEndowment per full-time-equivalent student — the FTE-correct measure of endowment wealth per student.
Below peers
$8,008
7th percentile in peer grouppeer median $36,570
End-of-year endowment ÷ 12-month FTE enrollment — endowment wealth per full-time-equivalent student. The FTE-correct companion to endowment-per-undergraduate; FTE counts graduate and part-time load, so research universities look less wealthy on this basis than on a headcount basis.
Grad PLUS exposureShare of the school's graduate federal loan dollars that came from Grad PLUS, the program the 2025 budget law eliminates for new borrowers from July 2026 (FSA Direct Loan data). Higher = more graduate borrowing that will disappear above the new caps.
Moderate exposure
32.5%
— percentile in peer group
Share of the institution's graduate federal loan dollars (Grad Unsubsidized + Grad PLUS) that came from Grad PLUS — the program the 2025 budget law eliminates for new borrowers from July 1, 2026, alongside new caps on graduate borrowing. A higher share means more of the school's graduate students rely on borrowing that will no longer exist above the unsubsidized cap. Source: U.S. Dept. of Education / Federal Student Aid Direct Loan Dashboard — primarily award year 2025-26 (year-to-date through Q2, December 2025), the most current federal data; schools not yet reporting Grad PLUS in 2025-26 retain their most recent complete year (2024-25), shown per school. The reliance share is stable across the two vintages. Shown only for schools with Grad PLUS originations; an exposure signal, not a forecast of revenue loss.
Avg Grad PLUS loanAverage Grad PLUS loan per borrower (FSA). The 2025 law caps unsubsidized grad borrowing at $20,500/yr and ends Grad PLUS — this is the average per-student amount that vanishes above the cap. The depth half of the Grad PLUS shock; pair with Grad PLUS exposure (the reliance share).
Above the cap
$25,355
— percentile in peer group
Average Grad PLUS loan per recipient (FSA Direct Loan Dashboard — award year 2025-26 year-to-date through Q2, with 2024-25 full-year retained where 2025-26 is not yet reported). The 2025 budget law eliminates Grad PLUS for new borrowers from July 1, 2026 and caps unsubsidized graduate borrowing at $20,500/year — so this is the average per-borrower amount that will no longer be available above that cap. Paired with Grad PLUS exposure (the institution's reliance share), it is the depth axis of the Grad PLUS shock: how much each affected borrower stands to lose. Shown only where Grad PLUS was originated.
Structural risk indexAn indicative 0–100 structural-risk index (higher = more pressure) blending operating margin, months of cash cushion, tuition dependency and the home-state enrollment cliff. Screens for the financial and demographic strain that precedes closures and mergers — directional, not a prediction.
Elevated
62
— percentile in peer group
An indicative 0–100 structural-risk index (higher = more pressure), an equal-weight blend of the stress signals we measure: thin or negative operating margin, low months of operating cushion, high tuition dependency, and a shrinking home-state high-school-graduate pipeline (enrollment cliff). Averaged over whichever signals are available (at least two required). It screens for the financial and demographic pressures that precede closures and mergers — a directional indicator, NOT a prediction that any institution will close, and not a credit rating.
Graduation & completion
Graduation rate · first-time, full-time
75.1%
75.1% graduate within 6 years (150% of normal time)
61.5% on-time, within 4 years (100%)
Counts only students who entered full-time as first-time freshmen and earned a bachelor's here — the conventional headline rate. Excludes part-time entrants and transfer-ins.
Completion rate · all students
80%
80% earned a degree or certificate within 8 years (IPEDS Outcome Measures)
The broader cohort — also counts part-time entrants and transfer-ins, and any credential. More inclusive, so it can run higher than the graduation rate.
Why two numbers? They measure different students over different windows, so they are not directly comparable. The graduation rate is the standard federal headline but tracks only first-time, full-time students through a bachelor's; the all-students completion rate adds the part-time and transfer students it leaves out, over a longer window. Read each for what it covers. Source: U.S. Department of Education — IPEDS Graduation Rates & Outcome Measures, via College Scorecard.
Enrollment & Pipeline
Undergraduate enrollmentNumber of degree-seeking undergraduates (IPEDS fall headcount). A size measure, not a quality signal.
17,940
26th percentile in peer grouppeer median 23,206
Admission rateShare of applicants offered admission. Lower means more selective; open-admission schools report none.
65.8%
40th percentile in peer grouppeer median 74.1%
First-year retentionShare of first-time, full-time freshmen who return for a second year — an early signal of student fit and support.
Average
87.9%
53rd percentile in peer grouppeer median 87.6%
Graduation rate (6-yr · first-time, full-time)Of first-time, full-time freshmen, the share who earn a bachelor's at this institution within six years (150% of normal time) — the conventional headline graduation rate. It counts only first-time, full-time students and excludes part-time entrants and transfer-ins, who are captured instead by the all-students completion rate.
Average
75.1%
56th percentile in peer grouppeer median 74.2%
Graduation rate (4-yr on-time · first-time, full-time)Of first-time, full-time freshmen, the share who earn a bachelor's within four years (100% of normal time) — the 'on-time' rate. It runs well below the six-year rate because many students take a fifth or sixth year; same first-time, full-time cohort as the six-year rate.
Average
61.5%
63rd percentile in peer grouppeer median 56.7%
Pell recipient shareShare of undergraduates on a federal Pell Grant — a proxy for the share from lower-income families.
31.6%
75th percentile in peer grouppeer median 25.2%
Program concentration (HHI)How concentrated a school's annual completions are across academic fields, as a Herfindahl-Hirschman Index (10,000 = one field, lower = many). Higher means more reliance on a few fields; lower means a diversified program portfolio.
Diversified
915
— percentile in peer group
How concentrated the institution's degree and certificate output is across academic fields (CIP 2-digit families), as a Herfindahl-Hirschman Index on the latest year's completions: 10,000 means every completion is in one field; lower means output is spread across many. A higher value means the school leans on fewer fields and is more exposed to demand shifts in them; a lower value reflects a broad program portfolio. Shown for institutions reporting at least 100 annual completions. A structural-diversification signal, not a measure of quality.
12-month FTE enrollmentFull-time-equivalent enrollment over the full year — the denominator for per-student finance measures.
20,598
24th percentile in peer grouppeer median 28,133
Full-time-equivalent enrollment over the full 12-month year (IPEDS 12-month enrollment, 2022-23). Counts part-time students at their fractional load, so it runs above fall full-time headcount and is the denominator used for per-student finance measures.
Student-faculty ratioStudents per instructional faculty member — lower usually means smaller classes and more contact.
22:1
92nd percentile in peer grouppeer median 18:1
Students per instructional faculty member (IPEDS, fall 2023). Lower generally means smaller classes and more faculty contact, though the measure mixes undergraduate and graduate teaching and is institution-reported.
Enrollment cliff (home state)Projected change in the institution's home-state high-school graduates from 2025 to 2041 (WICHE). The U.S. total falls about 13%; a directional feeder-market signal, not an enrollment forecast.
Severe decline
-27.7%
— percentile in peer group
Projected change in the number of high-school graduates in the institution's HOME STATE from the class of 2025 (the national peak) to 2041, per WICHE's Knocking at the College Door, 11th Edition (Dec 2024). The 'enrollment cliff' is the post-2008 birth decline reaching college age; the U.S. total is projected to fall about 13% over this window. A college recruits from many states, so its home-state projection is an indicative directional signal of feeder-market pressure, not a forecast of that institution's own enrollment.
Completion rate (all students · 8-yr)Of ALL entering degree-seeking undergraduates — full- and part-time, first-time and transfer-in — the share who earned a degree or certificate at this institution within eight years (IPEDS Outcome Measures). Broader than the graduation rate, which counts only first-time, full-time students, so the two are measured on different students and are not directly comparable.
Strong
80%
69th percentile in peer grouppeer median 72.4%
Share of ALL entering degree-seeking undergraduates — full- and part-time, first-time and transfer-in — who earned a degree or certificate at this institution within eight years (IPEDS Outcome Measures, via College Scorecard). Broader and more inclusive than the graduation-rate figures, which count only first-time, full-time students entering a bachelor's program — so the two are measured on different groups of students and are not directly comparable.
Admission yield
Below peers
10.2%
1st percentile in peer grouppeer median 23.8%
Share of admitted students who enrolled (IPEDS Admissions, Fall 2023): students who enrolled ÷ students admitted. A demand signal — how many accepted offers the institution converts to enrollment. Higher yield generally reflects stronger demand, though binding early-decision programs and price positioning can inflate it. Open-admission institutions do not report admissions and show none.
Student body
Undergraduate race & ethnicity
IPEDS 2024-25
White30.6%
Hispanic/Latino28.6%
Asian24.3%
Two or more races8.9%
International3.0%
Unknown2.3%
Black2.1%
American Indian/Alaska Native0.2%
Native Hawaiian/Pacific Islander0.1%
Undergraduate enrollment by race and ethnicity, as reported to IPEDS (College Scorecard). “International” denotes nonresident students; “Unknown” means race/ethnicity was not reported.
Student Outcomes & Risk
Median earnings (10 yr)Median earnings of former students ten years after first enrolling (working, federally-aided students).
Average
$68,396
65th percentile in peer grouppeer median $63,419
Median debt at graduationMedian federal loan debt graduates carry at the point they complete.
Strong
$16,666
11th percentile in peer grouppeer median $20,500
3-yr cohort default rateShare of borrowers who default within three years of entering repayment. Lower is better.
Strong
2.9%
32nd percentile in peer grouppeer median 4.2%
Share of borrowers who defaulted within three years of entering repayment (U.S. Dept. of Education official cohort default rate). Shown for the FY2017 borrower cohort — the most recent cohort whose full three-year default window closed before the 2020-23 federal student-loan payment pause. More recent cohorts are reported by the College Scorecard at essentially 0%, but that reflects the payment pause (no payments were due, so almost no one could default), not borrower health, so the pre-pause cohort is the last meaningful reading. Lower is better.
Share taking federal loansShare of students taking out federal loans — a borrowing-reliance signal.
28.4%
38th percentile in peer grouppeer median 31.7%
Full-time faculty shareShare of faculty employed full-time — higher generally means more availability and continuity.
Strong
84.9%
69th percentile in peer grouppeer median 79.5%
Debt-to-earnings ratioMedian graduate debt divided by median earnings — how heavy the debt load is versus what graduates earn. Lower is better.
Strong
0.24×
18th percentile in peer grouppeer median 0.32×
Return on credentialMedian 10-year earnings divided by the four-year cost of attendance (annual cost × 4) — a rough payback ratio for the degree.
Below peers
0.42×
6th percentile in peer grouppeer median 0.53×
Median 10-year earnings divided by the four-year cost of attendance (average annual cost × 4). A rough payback ratio: 1.0× means a graduate's annual 10-year earnings roughly equal the full four-year sticker cost. Earnings reflect federally-aided students; cost of attendance is the published sticker price before aid, so this is conservative relative to what families net of aid pay.
Field-demand outlook (10-yr)Employment-weighted 10-year BLS job-growth projection for the occupations this school's program mix feeds (U.S. all-occupations benchmark +3.1%). An indicative broad-field demand signal, not a program-specific or placement guarantee.
Outpaces job-market average
+5.3%
81st percentile in peer group
Projected 10-year (2024-34) change in U.S. employment for the occupations this institution's degrees and certificates feed, blended across its program mix. Built by mapping each CIP 2-digit field to its occupations via the NCES CIP-SOC crosswalk, taking the employment-weighted average of each occupation's BLS-projected percent change, then weighting fields by the institution's latest-year completions. The U.S. all-occupations benchmark is 3.1%, so a higher value means the school's graduates concentrate in faster-growing labor markets. An INDICATIVE field-level signal at broad-field granularity — not a program-specific or graduate-specific projection, and not a placement or earnings guarantee. Structurally diffuse CIP families whose crosswalk maps to 'any job' are excluded from the signal: 05 Area/Ethnic/Gender Studies, 24 Liberal Arts & Humanities, and 30 Multi/Interdisciplinary. Shown where at least 50% of completions fall in fields with a coherent occupational mapping and the school reports 100+ annual completions.
Loan repayment rate (3-yr)
75%
74th percentile in peer grouppeer median 68.4%
Share of student-loan borrowers who had repaid at least $1 of their loan principal within three years of entering repayment (College Scorecard, FY2024-25). Read it as context, not a simple good/bad score: a low rate can mean borrowers are struggling, but it can also mean many graduates have postponed payments while enrolled in graduate or professional school, which is common at selective schools and pushes their rate down. Unlike the cohort default rate, it is not distorted by the 2020-23 federal payment pause. Reported only where enough borrowers exist.
Top fields of study (bachelor's)
University of California-Santa Cruz’s largest fields by completions, with graduate earnings (4 years out) and debt benchmarked against the same field at its peer group. Sparklines show the 8-year completions trend.
| Field | Completions / yr | Median earnings, 4 yrs out | Median debt | Earnings premium | Risk score |
|---|---|---|---|---|---|
| Computer & Information Sciences | 705 | $119,414 77th pct · 105 peers | — | Above benchmark +211% | Low · 0 |
| Biological & Biomedical Sciences | 702 | $66,014 79th pct · 104 peers | — | Above benchmark +72% | Low · 25 |
| Social Sciences | 670 | $62,672 50th pct · 103 peers | — | Above benchmark +63% | Low · 24 |
| Visual & Performing Arts | 433 | $48,909 57th pct · 103 peers | — | Above benchmark +27% | Low · 20 |
| Psychology | 432 | $59,948 88th pct · 103 peers | — | Above benchmark +56% | Low · 30 |
| Business, Management & Marketing | 287 | $82,064 58th pct · 104 peers | — | Above benchmark +113% | Low · 22 |
| Physical Sciences | 215 | $68,352 57th pct · 89 peers | — | Above benchmark +78% | Low · 8 |
| Foreign Languages & Linguistics | 208 | $49,882 27th pct · 78 peers | — | Above benchmark +30% | Moderate · 40 |
| Engineering | 183 | $121,686 98th pct · 99 peers | — | Above benchmark +217% | Low · 13 |
| Natural Resources & Conservation | 153 | $55,240 51th pct · 76 peers | — | Above benchmark +44% | Moderate · 39 |
All 10 top fields shown clear the CA state earnings-premium benchmark (indicative).
Earnings-premium status is an indicative estimate: median graduate earnings four years out vs the CA state median earnings of a high-school graduate (undergraduate credentials) or a bachelor’s-degree holder (graduate credentials) from the U.S. Census Bureau’s American Community Survey (2022 ACS 5-year). The official U.S. Department of Education determination uses its own cohort definition and may differ.
The risk score (0–100) is an indicative blend of earnings-premium margin and the five-year completions trend—higher means a field pays closer to (or below) the benchmark and is shrinking. A directional screen, not an official determination.
See the interactive dashboard for all fields and credential levels (associate through doctoral). Source: College Scorecard Field of Study.
Frequently asked
How selective is University of California-Santa Cruz?
University of California-Santa Cruz admits about 66% of applicants, and roughly 88% of first-year students return for a second year.
What is University of California-Santa Cruz's student-faculty ratio?
University of California-Santa Cruz reports a student-faculty ratio of 22:1 (IPEDS, fall 2023) — that is, about 22 students for every instructional faculty member.
How much does University of California-Santa Cruz cost?
The average published cost of attendance is $41,179 and the average net price after aid is $17,890 (College Scorecard).
How much do University of California-Santa Cruz graduates earn?
Median earnings ten years after entry are $68,396 (College Scorecard), measured across students who received federal aid.
Are University of California-Santa Cruz's programs at risk under the federal earnings-premium test?
Indicatively, at University of California-Santa Cruz, all 10 of the largest fields with available earnings data clear the CA state earnings-premium benchmark used by the 2025 federal test (effective July 1, 2026) — median graduate earnings (four years out) exceed those of a typical worker without the credential. This is an estimate using College Scorecard earnings vs ACS medians; the official Department of Education determination may differ.
Which schools are University of California-Santa Cruz's peers?
University of California-Santa Cruz is benchmarked against 106 institutions in the R1: Doctoral, Very High Research · Public peer group; all percentiles and medians on this page are computed within that group.
Compare with peers
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Source: U.S. Department of Education — College Scorecard & IPEDS (most recent releases), with the U.S. Census Bureau (ACS), the U.S. Bureau of Labor Statistics (Employment Projections, field-demand outlook) and WICHE (enrollment-cliff projections). Figures lag the current academic year by roughly two to three years. Percentiles and medians are computed within the institution's peer group. Financial Resilience is a transparent composite — see each component above. Compiled by Ibex Insights.