by our College Data Analytics TeamBelow is federal data on the loans students use to pay for LeGrand Institute of Cosmetology Inc— how much they borrow, how that debt is spread across the student body, and what it costs to pay back. These figures are reported by the Department of Education and IPEDS.
At LeGrand Institute of Cosmetology Inc, 62% of incoming undergraduates borrow in year one, borrowing on average $5,189 per student, private and federal loans combined.
The typical federal loan comes to $5,189, or about 94.3% of the $5,500 first-year federal borrowing limit for a 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.
Across the full undergraduate body at LeGrand Institute of Cosmetology Inc (freshmen included), 62% use federal student loans to help pay for their education, borrowing on average $4,803 a year. That is 7.4% lower than the $5,189 freshmen take on.
Repeating that yearly amount projects to about $9,606 after two years and $19,212 by the fourth year. This assumes steady federal borrowing and leaves out private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 62% |
| Average federal loan per year | $4,803 |
| Undergraduates with a federal loan | 26 |
| Total federal loans (one year) | $124,877 |
The median student at LeGrand Institute of Cosmetology Inc borrows $9,089 in federal student loans.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $9,089 |
The indicators below describe what the typical debt costs to pay back at LeGrand Institute of Cosmetology Inc.
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 LeGrand Institute of Cosmetology Inc follows.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 30.7% |
| Borrowers in the cohort | 21 |
The cohort default rate tracks borrowers who entered repayment in a given year and defaulted within the two-year measurement window.
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.
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.