by our College Data Analytics TeamHere you will find what students actually borrow to attend Empire Beauty School-Bloomington: median debt, the percentile spread, total borrowing including PLUS loans, and the cost to repay. All figures come from the U.S. Department of Education and IPEDS.
Among first-year students at Empire Beauty School-Bloomington, 60% of freshmen borrow to help pay for their first year, for an average of $6,511 each, across private and federal loan sources.
The average federally funded loan is $6,511. 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.
Looking at all undergraduates at Empire Beauty School-Bloomington, freshmen included, 54% use federal student loans to help pay for their education, averaging $6,700 annually. This is 2.9% larger than the first-year federal average of $6,511.
Carrying that yearly figure forward comes to roughly $13,400 in two years and roughly $26,800 by the fourth year. This projection keeps yearly federal borrowing flat and excludes private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 54% |
| Average federal loan per year | $6,700 |
| Undergraduates with a federal loan | 135 |
| Total federal loans (one year) | $904,534 |
The median student at Empire Beauty School-Bloomington borrows $6,333 in federal student loans.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $6,333 |
| Students who completed (graduates) | $10,231 |
| 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 median hides the spread, so the percentiles below show cumulative federal debt at four points in the distribution for Empire Beauty School-Bloomington.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $2,750 |
| 25th percentile | $4,750 |
| 75th percentile | $12,347 |
| 90th percentile (highest-debt students) | $16,000 |
The gap between the 10th and 90th percentile is the clearest single measure of how widely borrowing varies at Empire Beauty School-Bloomington.
The figures above count only the students own federal loans. Adding PLUS loans (borrowed by parents or graduate students) gives a fuller picture of total borrowing at Empire Beauty School-Bloomington.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 265 | $6,222 |
| Completed (graduates) | 169 | $6,974 |
| Did not complete | 96 | $5,271 |
For students who completed, the median total debt including PLUS loans works out to a standard 10-year payment of about $82.93/mo.
The split below distinguishes Stafford borrowers from non-Stafford borrowers at Empire Beauty School-Bloomington.
Current-Year Stafford Borrowers
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 252 | — |
| No Stafford loan this year | 13 | — |
The indicators below describe what the typical debt costs to pay back at Empire Beauty School-Bloomington.
Defaulting means failing to repay a federal student loan, which carries serious credit consequences. The federal two-year cohort default rate for Empire Beauty School-Bloomington appears below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 8.8% |
| Borrowers in the cohort | 371 |
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.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $6,333 |
| Middle income | $7,418 |
| High income | $6,333 |
First-Gen vs Continuing-Gen Borrowing
| Cohort | Median federal debt |
|---|---|
| First-generation students | $6,333 |
| Continuing-generation students | $6,018 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $6,723 |
| Independent students | $6,333 |
The Department of Education computes gap indicators that show how borrowing differs between student groups at Empire Beauty School-Bloomington.
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.
Worth Knowing
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.