by our College Data Analytics TeamThis page focuses on the debt students take on to attend Milan Institute-Sparks: median debt, the percentile spread, total borrowing including PLUS loans, and the cost to repay. These figures are reported by the Department of Education and IPEDS.
Among first-year students at Milan Institute-Sparks, 58% of incoming undergraduates borrow in year one, for an average of $5,196 per student, private and federal loans combined.
The average federal loan is $5,196, or about 94.5% of the typical first-year dependent student borrowing cap of $5,500. Keep in mind the all-undergraduate averages further down count federal loans only, unlike this private-plus-federal freshman figure.
Across the full undergraduate body at Milan Institute-Sparks (freshmen included), 65% take out federal student loans, with a mean of $5,283 per year. It comes to 1.7% more than the freshman federal average of $5,196.
At a steady annual pace, that totals around $10,566 after two years and $21,132 over a four-year span. This assumes steady federal borrowing and leaves out private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 65% |
| Average federal loan per year | $5,283 |
| Undergraduates with a federal loan | 182 |
| Total federal loans (one year) | $961,556 |
The median student at Milan Institute-Sparks borrows $7,000 of cumulative federal debt.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $7,000 |
| Students who completed (graduates) | $8,124 |
| Students who withdrew | $4,750 |
Debt carried by students who withdrew is a key risk signal — these borrowers owe money without having earned the credential.
The median hides the spread, so the percentiles below show cumulative federal debt at four points in the distribution for Milan Institute-Sparks.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $4,011 |
| 25th percentile | $5,346 |
| 75th percentile | $9,500 |
| 90th percentile (highest-debt students) | $9,500 |
How wide this percentile range is tells you how much borrowing varies across students at Milan Institute-Sparks.
Median federal debt understates the full cost when PLUS loans are included. The totals below add PLUS borrowing for Milan Institute-Sparks.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 76 | $4,526 |
| Completed (graduates) | 57 | $4,642 |
| Did not complete | 19 | $4,410 |
On a standard 10-year plan, the median completing borrower would pay about $55.2/mo.
These figures turn the debt totals into a monthly repayment picture for Milan Institute-Sparks.
The default rate measures how many borrowers fall behind and ultimately fail to repay their federal loans. The official Department of Education two-year default rate for Milan Institute-Sparks appears below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 16.3% |
| Borrowers in the cohort | 655 |
The cohort default rate tracks borrowers who entered repayment in a given year and defaulted within the two-year measurement window.
The breakdowns below show median federal debt by income, first-generation status, and dependency.
Borrowing by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $7,690 |
| Middle income | $5,500 |
| High income | $5,265 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $6,813 |
| Continuing-generation students | $7,690 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $5,500 |
| Independent students | $7,972 |
These pre-calculated indicators summarize the borrowing gaps between cohorts at Milan Institute-Sparks.
The Difference Between 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
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.