by our College Data Analytics TeamHere you will find what students actually borrow to attend Lorain County Joint Vocational School District— 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 Lorain County Joint Vocational School District specifically, 44% of freshmen borrow to help pay for their first year, for an average of $3,161 each — a figure that counts both private and federal student loans.
Federal loans alone average $3,161, amounting to 57.5% of the $5,500 cap on first-year federal borrowing for the typical dependent student. Bear in mind the undergraduate averages later on cover federal loans only, whereas this freshman total folds in private loans too.
Counting every undergraduate at Lorain County Joint Vocational School District, 20% use federal student loans to help pay for their education, for a typical $3,659 each per year. This is 15.8% more than the $3,161 borrowed by freshmen.
Repeating that yearly amount projects to about $7,318 by year two and around $14,636 after four. These figures assume identical federal borrowing each year and omit private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 20% |
| Average federal loan per year | $3,659 |
| Undergraduates with a federal loan | 34 |
| Total federal loans (one year) | $124,397 |
Graduating and withdrawing students at Lorain County Joint Vocational School District carry a median federal debt of $3,242 in federal student loans.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $3,242 |
Looking only at the median is misleading — these four percentiles describe the full debt distribution for borrowers at Lorain County Joint Vocational School District.
| Percentile | Cumulative Federal Debt |
|---|---|
| 25th percentile | $2,639 |
| 75th percentile | $6,333 |
Repayment burden translates the debt figures into what a borrower actually pays each month. Lorain County Joint Vocational School District.
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 Lorain County Joint Vocational School District appears below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 23.0% |
| Borrowers in the cohort | 52 |
This rate follows a borrower cohort from the start of repayment through the two-year window the Department of Education uses.
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.
Worth Knowing
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.