by our College Data Analytics TeamHere you will find what students actually borrow to attend Barber Tech Academy-Columbia, including completion-adjusted borrowing and a standard repayment estimate. These figures are reported by the Department of Education and IPEDS.
For incoming students at Barber Tech Academy-Columbia, 100% of incoming undergraduates borrow in year one, averaging $8,682 apiece. This figure includes both private and federally funded student loans.
The typical federal loan comes to $8,682. This meets or exceeds the $5,500 cap on first-year federal borrowing for the typical dependent freshman. Keep in mind the all-undergraduate averages further down count federal loans only, unlike this private-plus-federal freshman figure.
For undergraduates overall at Barber Tech Academy-Columbia, 77% borrow through federal student loan programs, with a mean of $9,070 in federal loans per year. That amounts to 4.5% higher than the $8,682 freshmen take on.
Borrowing at that rate every year works out to about $18,140 over two years and about $36,280 after four. This assumes steady federal borrowing and leaves out private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 77% |
| Average federal loan per year | $9,070 |
| Undergraduates with a federal loan | 43 |
| Total federal loans (one year) | $389,994 |
Graduating and withdrawing students at Barber Tech Academy-Columbia carry a median federal debt of $4,750 of cumulative federal debt.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $4,750 |
| Students who withdrew | $4,750 |
The figure for students who withdrew is worth watching: debt without a completed credential is the hardest to repay.
The indicators below describe what the typical debt costs to pay back at Barber Tech Academy-Columbia.
Federal data publishes the following gap measures for Barber Tech Academy-Columbia.
Subsidized and 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.
Important to Remember
Declaring bankruptcy does not erase federal student loan debt. If you stop paying, the federal government can garnish a portion of your wages until the loans are repaid.
References
More about our data sources and methodologies.