by our College Data Analytics TeamBelow is federal data on the loans students use to pay for Loraines Academy & Spa: 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.
Looking at the entering class at Loraines Academy, 70% of incoming undergraduates borrow in year one, borrowing on average $4,490 per borrower, covering both private and federal loans.
The typical federal loan comes to $4,490, or about 81.6% of the $5,500 first-year borrowing cap for the typical first-year dependent student. Be aware: the undergraduate-wide averages below exclude private loans, while this freshman number includes them.
For undergraduates overall at Loraines Academy, 54% take out federal student loans, for a typical $4,717 per year. It comes to 5.1% greater than the $4,490 freshmen take on.
Borrowing the same amount each year would add up to roughly $9,434 after two years and $18,868 by the fourth year. These projections assume the same federal borrowing each year and exclude private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 54% |
| Average federal loan per year | $4,717 |
| Undergraduates with a federal loan | 67 |
| Total federal loans (one year) | $316,024 |
Graduating and withdrawing students at Loraines Academy carry a median federal debt of $5,833 in federal student loans.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $5,833 |
| 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.
Half of all borrowers fall between the 25th and 75th percentiles shown below for Loraines Academy.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $2,333 |
| 25th percentile | $4,750 |
| 75th percentile | $8,175 |
| 90th percentile (highest-debt students) | $13,000 |
The spread between the lowest- and highest-debt deciles summarizes how variable outcomes are at Loraines Academy.
Repayment burden translates the debt figures into what a borrower actually pays each month. Loraines Academy.
A loan default — failing to keep up with federal student-loan payments — is one of the worst financial outcomes a borrower can face. The federal two-year cohort default rate for Loraines Academy appears below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 9.5% |
| Borrowers in the cohort | 147 |
The cohort default rate tracks borrowers who entered repayment in a given year and defaulted within the two-year measurement window.
Median debt differs by income tier, first-generation status, and whether the student is financially dependent.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $5,833 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $3,666 |
| Independent students | $6,333 |
The Difference Between Subsidized and 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
Declaring bankruptcy does not erase federal student loan debt. If you stop paying, the federal government can garnish a portion of your wages until the loans are repaid.
References
More about our data sources and methodologies.