by our College Data Analytics TeamBelow is federal data on the loans students use to pay for Innovate Salon Academy— 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.
For incoming students at Innovate Salon Academy, 67% of freshmen borrow to help pay for their first year, at roughly $6,518 per borrower, covering both private and federal loans.
The average federal loan is $6,337. This reaches or tops the $5,500 first-year federal borrowing cap for a typical dependent student. 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 Innovate Salon Academy, freshmen included, 51% finance part of their studies with federal loans, with a mean of $6,126 a year. It comes to 3.3% smaller than the $6,337 freshmen take on.
Carrying that yearly figure forward comes to roughly $12,252 across two years and $24,504 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 | 51% |
| Average federal loan per year | $6,126 |
| Undergraduates with a federal loan | 219 |
| Total federal loans (one year) | $1,341,673 |
The median student at Innovate Salon Academy borrows $6,333 in federal borrowing.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $6,333 |
| Students who completed (graduates) | $6,333 |
| Students who withdrew | $3,500 |
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 Innovate Salon Academy.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,666 |
| 25th percentile | $5,277 |
| 75th percentile | $11,758 |
| 90th percentile (highest-debt students) | $13,000 |
The gap between the 10th and 90th percentile is the clearest single measure of how widely borrowing varies at Innovate Salon Academy.
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 Innovate Salon Academy.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 38 | $6,767 |
The indicators below describe what the typical debt costs to pay back at Innovate Salon Academy.
Borrowing varies by family income, by first-generation status, and by dependency status.
Borrowing by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $6,333 |
| Middle income | $6,333 |
| High income | $4,786 |
First-Gen vs Continuing-Gen Borrowing
| Cohort | Median federal debt |
|---|---|
| First-generation students | $6,333 |
| Continuing-generation students | $6,283 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $5,500 |
| Independent students | $6,333 |
The Department of Education computes gap indicators that show how borrowing differs between student groups at Innovate Salon Academy.
Subsidized and 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?
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.