by our College Data Analytics TeamHere you will find what students actually borrow to attend Florida Academy: 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 Florida Academy, 10% of freshmen borrow to help pay for their first year, for an average of $4,596 each, across private and federal loan sources.
The typical federal loan comes to $4,596, or about 83.6% of the $5,500 cap on first-year federal borrowing for the typical dependent student. Keep in mind the all-undergraduate averages further down count federal loans only, unlike this private-plus-federal freshman figure.
Looking at all undergraduates at Florida Academy, freshmen included, 11% rely on federal student loans toward their education, at an average of $4,039 per year. This works out to 12.1% lower than the $4,596 freshmen take on.
Borrowing at that rate every year works out to about $8,078 after two years and $16,156 over a four-year span. These projections assume the same federal borrowing each year and exclude private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 11% |
| Average federal loan per year | $4,039 |
| Undergraduates with a federal loan | 58 |
| Total federal loans (one year) | $234,242 |
Graduating and withdrawing students at Florida Academy carry a median federal debt of $6,333 in federal borrowing.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $6,333 |
| Students who completed (graduates) | $6,333 |
| Students who withdrew | $3,167 |
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 Florida Academy.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,666 |
| 25th percentile | $5,121 |
| 75th percentile | $9,500 |
| 90th percentile (highest-debt students) | $9,500 |
How wide this percentile range is tells you how much borrowing varies across students at Florida Academy.
Median federal debt understates the full cost when PLUS loans are included. The totals below add PLUS borrowing for Florida Academy.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 28 | $5,612 |
These figures turn the debt totals into a monthly repayment picture for Florida Academy.
The breakdowns below show median federal debt by income, first-generation status, and dependency.
Borrowing by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $6,333 |
| Middle income | $6,333 |
| High income | $3,666 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $6,333 |
| Continuing-generation students | $4,750 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $3,666 |
| Independent students | $6,333 |
Federal data publishes the following gap measures for Florida Academy.
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.
Important to Remember
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.