by our College Data Analytics TeamThis page focuses on the debt students take on to attend Cattaraugus Allegany BOCES - Practical Nursing Program— how much they borrow, how that debt is spread across the student body, and what it costs to pay back. These figures are reported by the Department of Education and IPEDS.
Looking at the entering class at CA BOCES, 88% of new students use loans toward freshman-year expenses, with a typical loan of $10,911 apiece. This figure includes both private and federally funded student loans.
On the federal side, the average loan is $9,230. That is at or past the $5,500 federal first-year limit for the typical dependent freshman. Remember the all-undergraduate figures below leave out private loans, so they will look lower than this private-plus-federal freshman amount.
For undergraduates overall at CA BOCES, 78% rely on federal student loans toward their education, with a mean of $8,021 each per year. This is 13.1% under the $9,230 freshmen take on.
Borrowing the same amount each year would add up to roughly $16,042 over two years and about $32,084 by the fourth year. This assumes steady federal borrowing and leaves out private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 78% |
| Average federal loan per year | $8,021 |
| Undergraduates with a federal loan | 18 |
| Total federal loans (one year) | $144,379 |
The middle borrower at CA BOCES owes $4,386 in federal borrowing.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $4,386 |
Half of all borrowers fall between the 25th and 75th percentiles shown below for CA BOCES.
| Percentile | Cumulative Federal Debt |
|---|---|
| 25th percentile | $2,879 |
| 75th percentile | $13,354 |
The indicators below describe what the typical debt costs to pay back at CA BOCES.
The default rate measures how many borrowers fall behind and ultimately fail to repay their federal loans. The federal two-year cohort default rate for CA BOCES is shown below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 8.9% |
| Borrowers in the cohort | 67 |
A lower default rate generally signals that graduates earn enough to manage their loan payments.
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.
Worth Knowing
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.