by our College Data Analytics TeamBelow is federal data on the loans students use to pay for Cheeks Beauty Academy-Forty Collins— 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 Cheeks Beauty Academy, 67% of incoming students take out a loan to help cover first-year costs, with a typical loan of $6,300 each — a figure that counts both private and federal student loans.
The average federally funded loan is $6,300. This reaches or tops the $5,500 first-year federal borrowing cap 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 Cheeks Beauty Academy (freshmen included), 50% use federal student loans to help pay for their education, with a mean of $6,531 each per year. That is 3.7% greater than the $6,300 freshmen take on.
Borrowing at that rate every year works out to about $13,062 over two years and about $26,124 after four. This assumes steady federal borrowing and leaves out private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 50% |
| Average federal loan per year | $6,531 |
| Undergraduates with a federal loan | 26 |
| Total federal loans (one year) | $169,800 |
The median student at Cheeks Beauty Academy borrows $6,333 of cumulative federal debt.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $6,333 |
| Students who completed (graduates) | $7,000 |
| Students who withdrew | $3,500 |
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 Cheeks Beauty Academy.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $1,762 |
| 25th percentile | $3,062 |
| 75th percentile | $8,873 |
| 90th percentile (highest-debt students) | $11,767 |
The spread between the lowest- and highest-debt deciles summarizes how variable outcomes are at Cheeks Beauty Academy.
Repayment burden translates the debt figures into what a borrower actually pays each month. Cheeks Beauty Academy.
A loan default — failing to keep up with federal student-loan payments — is one of the worst financial outcomes a borrower can face. The federal two-year cohort default rate for Cheeks Beauty Academy follows.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 10.3% |
| Borrowers in the cohort | 145 |
This rate follows a borrower cohort from the start of repayment through the two-year window the Department of Education uses.
Borrowing varies by family income, by first-generation status, and by dependency status.
Borrowing by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $5,375 |
| Middle income | $6,333 |
| High income | $7,367 |
Dependent vs Independent Borrowers
| Cohort | Median federal debt |
|---|---|
| Dependent students | $6,000 |
| Independent students | $6,333 |
The Department of Education computes gap indicators that show how borrowing differs between student groups at Cheeks Beauty Academy.
Subsidized vs. Unsubsidized Loans
Unsubsidized federal student loans accrue interest every month — even while you are still enrolled. Unless you pay that interest as it builds, the balance you owe at graduation can be noticeably higher than the amount you originally borrowed.
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.