by our College Data Analytics TeamBelow is federal data on the loans students use to pay for College of Hair Design Careers— 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.
Among first-year students at Hair Design Careers, 38% of freshmen borrow to help pay for their first year, borrowing on average $6,619 apiece. This figure includes both private and federally funded student loans.
The typical federal loan comes to $6,619. This meets or exceeds the $5,500 cap on first-year federal borrowing 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.
Counting every undergraduate at Hair Design Careers, 41% use federal student loans to help pay for their education, for a typical $6,894 in federal loans per year. It comes to 4.2% greater than the $6,619 typical freshmen borrow.
At a steady annual pace, that totals around $13,788 after two years and $27,576 after four. These projections assume the same federal borrowing each year and exclude private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 41% |
| Average federal loan per year | $6,894 |
| Undergraduates with a federal loan | 44 |
| Total federal loans (one year) | $303,331 |
The median student at Hair Design Careers borrows $8,481 in federal borrowing.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $8,481 |
| Students who completed (graduates) | $10,750 |
| Students who withdrew | $5,500 |
The figure for students who withdrew is worth watching: debt without a completed credential is the hardest to repay.
Looking only at the median is misleading — these four percentiles describe the full debt distribution for borrowers at Hair Design Careers.
| Percentile | Cumulative Federal Debt |
|---|---|
| 25th percentile | $5,193 |
| 75th percentile | $12,000 |
Repayment burden translates the debt figures into what a borrower actually pays each month. Hair Design Careers.
A loan default — failing to keep up with federal student-loan payments — is one of the worst financial outcomes a borrower can face. The official Department of Education two-year default rate for Hair Design Careers is shown below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 9.2% |
| Borrowers in the cohort | 54 |
A lower default rate generally signals that graduates earn enough to manage their loan payments.
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 | $8,481 |
Dependent vs Independent Borrowers
| Cohort | Median federal debt |
|---|---|
| Dependent students | $7,105 |
| Independent students | $9,500 |
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.