by our College Data Analytics TeamBelow is federal data on the loans students use to pay for Bene’s Career Academy— how much they borrow, how that debt is spread across the student body, and what it costs to pay back. All figures come from the U.S. Department of Education and IPEDS.
At Bene’s Career Academy, 54% of incoming students take out a loan to help cover first-year costs, at roughly $5,597 each, across private and federal loan sources.
The average federally funded loan is $5,597. That sits at or beyond the $5,500 first-year federal limit for a typical dependent student. Keep in mind the all-undergraduate averages further down count federal loans only, unlike this private-plus-federal freshman figure.
Counting every undergraduate at Bene’s Career Academy, 56% finance part of their studies with federal loans, for a typical $5,531 annually. It comes to 1.2% lower than the $5,597 borrowed by freshmen.
Borrowing at that rate every year works out to about $11,062 after two years and $22,124 over four years. The estimate holds federal borrowing constant and does not count private or Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 56% |
| Average federal loan per year | $5,531 |
| Undergraduates with a federal loan | 301 |
| Total federal loans (one year) | $1,664,960 |
The middle borrower at Bene’s Career Academy owes $6,333 of cumulative federal debt.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $6,333 |
| Students who completed (graduates) | $6,333 |
| Students who withdrew | $4,750 |
Withdrawn-student debt matters because those borrowers carry the loans without the degree that helps repay them.
Half of all borrowers fall between the 25th and 75th percentiles shown below for Bene’s Career Academy.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,167 |
| 25th percentile | $4,750 |
| 75th percentile | $11,666 |
| 90th percentile (highest-debt students) | $13,000 |
The spread between the lowest- and highest-debt deciles summarizes how variable outcomes are at Bene’s Career Academy.
PLUS loans — taken out by parents or graduate students — add to the total cost of attendance financed by debt at Bene’s Career Academy.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 74 | $8,340 |
| Completed (graduates) | 50 | $9,156 |
| Did not complete | 24 | $5,962 |
On a standard 10-year plan, the median completing borrower would pay about $108.87/mo.
Federal data lets us separate Stafford borrowers from the rest at Bene’s Career Academy.
Any-Stafford Borrowers
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Used a Stafford loan | 28 | $8,000 |
| No Stafford loan | 46 | $8,680 |
Stafford This Year vs Not
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 20 | $8,000 |
| No Stafford loan this year | 54 | $8,680 |
The indicators below describe what the typical debt costs to pay back at Bene’s Career Academy.
The default rate measures how many borrowers fall behind and ultimately fail to repay their federal loans. Two-year cohort default-rate data for Bene’s Career Academy follows.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 9.6% |
| Borrowers in the cohort | 197 |
A lower default rate generally signals that graduates earn enough to manage their loan payments.
Borrowing varies by family income, by first-generation status, and by dependency status.
Borrowing by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $6,333 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $6,333 |
| Continuing-generation students | $6,333 |
Dependent vs Independent Borrowers
| Cohort | Median federal debt |
|---|---|
| Dependent students | $6,333 |
| Independent students | $6,333 |
These pre-calculated indicators summarize the borrowing gaps between cohorts at Bene’s Career Academy.
The Difference Between Subsidized and Unsubsidized Loans
Subsidized loans pause interest while you are in school; unsubsidized loans do not. That difference compounds over four years, so the type of loan you take matters as much as the amount.
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.