by our College Data Analytics TeamThis page focuses on the debt students take on to attend Hair Academy Inc-New Carrollton: 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.
At Hair Academy Inc-New Carrollton, 91% of freshmen borrow to help pay for their first year, averaging $3,148 each — a figure that counts both private and federal student loans.
The average federal loan is $3,148, equal to roughly 57.2% of the $5,500 federal limit that applies to a typical first-year dependent borrower. Bear in mind the undergraduate averages later on cover federal loans only, whereas this freshman total folds in private loans too.
Looking at all undergraduates at Hair Academy Inc-New Carrollton, freshmen included, 31% use federal student loans to help pay for their education, at an average of $3,112 a year. This works out to 1.1% lower than the $3,148 typical freshmen borrow.
Borrowing the same amount each year would add up to roughly $6,224 after two years and $12,448 across a four-year program. These projections assume the same federal borrowing each year and exclude private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 31% |
| Average federal loan per year | $3,112 |
| Undergraduates with a federal loan | 138 |
| Total federal loans (one year) | $429,459 |
The median student at Hair Academy Inc-New Carrollton borrows $6,333 in federal borrowing.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $6,333 |
| Students who completed (graduates) | $13,000 |
| Students who withdrew | $4,750 |
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 Academy Inc-New Carrollton.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $2,000 |
| 25th percentile | $4,650 |
| 75th percentile | $9,500 |
| 90th percentile (highest-debt students) | $11,250 |
The spread between the lowest- and highest-debt deciles summarizes how variable outcomes are at Hair Academy Inc-New Carrollton.
PLUS loans — taken out by parents or graduate students — add to the total cost of attendance financed by debt at Hair Academy Inc-New Carrollton.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 53 | $6,562 |
| Completed (graduates) | 30 | $4,994 |
| Did not complete | 23 | $7,946 |
On a standard 10-year plan, the median completing borrower would pay about $59.38/mo.
The indicators below describe what the typical debt costs to pay back at Hair Academy Inc-New Carrollton.
A loan default — failing to keep up with federal student-loan payments — is one of the worst financial outcomes a borrower can face. Two-year cohort default-rate data for Hair Academy Inc-New Carrollton appears below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 9.0% |
| Borrowers in the cohort | 377 |
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.
Median Debt by Income Bracket
| Income tier | Median federal debt |
|---|---|
| Low income | $6,333 |
| Middle income | $9,479 |
| High income | $9,833 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $6,333 |
| Continuing-generation students | $9,500 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $7,066 |
| Independent students | $6,333 |
The Department of Education computes gap indicators that show how borrowing differs between student groups at Hair Academy Inc-New Carrollton.
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.
Important to Remember
Unlike most other debt, federal student loans generally survive bankruptcy — and unpaid balances can lead to wage garnishment — so borrow only what you truly need.
References
More about our data sources and methodologies.