by our College Data Analytics TeamBelow is federal data on the loans students use to pay for Aspen Beauty Academy of Laurel: median debt, the percentile spread, total borrowing including PLUS loans, and the cost to repay. All figures come from the U.S. Department of Education and IPEDS.
At Aspen Beauty Academy of Laurel, 79% of freshmen borrow to help pay for their first year, at roughly $8,183 each — a figure that counts both private and federal student loans.
The typical federal loan comes to $8,183. That sits at or beyond the $5,500 first-year federal limit for a typical dependent student. Remember the all-undergraduate figures below leave out private loans, so they will look lower than this private-plus-federal freshman amount.
Across the full undergraduate body at Aspen Beauty Academy of Laurel (freshmen included), 55% borrow through federal student loan programs, at an average of $8,220 per year. It comes to 0.5% above the $8,183 borrowed by freshmen.
Borrowing the same amount each year would add up to roughly $16,440 by year two and around $32,880 over a four-year span. These figures assume identical federal borrowing each year and omit private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 55% |
| Average federal loan per year | $8,220 |
| Undergraduates with a federal loan | 96 |
| Total federal loans (one year) | $789,126 |
The middle borrower at Aspen Beauty Academy of Laurel owes $9,833 in federal borrowing.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $9,833 |
| Students who completed (graduates) | $16,500 |
| Students who withdrew | $4,750 |
The figure for students who withdrew is worth watching: debt without a completed credential is the hardest to repay.
Half of all borrowers fall between the 25th and 75th percentiles shown below for Aspen Beauty Academy of Laurel.
| Percentile | Cumulative Federal Debt |
|---|---|
| 25th percentile | $4,750 |
| 75th percentile | $13,500 |
The indicators below describe what the typical debt costs to pay back at Aspen Beauty Academy of Laurel.
Median debt differs by income tier, first-generation status, and whether the student is financially dependent.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $12,500 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $7,667 |
| Independent students | $12,500 |
The Department of Education computes gap indicators that show how borrowing differs between student groups at Aspen Beauty Academy of Laurel.
Subsidized vs. Unsubsidized Loans
With an unsubsidized loan, interest starts adding up the day the loan is disbursed, including during school. Subsidized loans, by contrast, do not accrue interest while you are enrolled at least half-time, which makes them the less expensive option when you qualify.
Did You Know?
Federal student loans are not discharged in bankruptcy in all but the rarest cases, and the government can withhold part of your income or tax refund if you default.
References
More about our data sources and methodologies.