by our College Data Analytics TeamBelow is federal data on the loans students use to pay for Mr Wayne’s School of Unisex Hair Design: 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.
At Mr Wayne’s School of Unisex Hair Design, 74% of first-year students take on loan debt, at roughly $6,227 per borrower, covering both private and federal loans.
The average federal loan is $6,227. This meets or exceeds the $5,500 cap on first-year federal borrowing for the typical dependent freshman. Be aware: the undergraduate-wide averages below exclude private loans, while this freshman number includes them.
Across the full undergraduate body at Mr Wayne’s School of Unisex Hair Design (freshmen included), 83% use federal student loans to help pay for their education, for a typical $8,658 a year. This works out to 39.0% more than the $6,227 borrowed by freshmen.
Borrowing at that rate every year works out to about $17,316 by year two and around $34,632 across a four-year program. This projection keeps yearly federal borrowing flat and excludes private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 83% |
| Average federal loan per year | $8,658 |
| Undergraduates with a federal loan | 24 |
| Total federal loans (one year) | $207,792 |
Graduating and withdrawing students at Mr Wayne’s School of Unisex Hair Design carry a median federal debt of $7,667 in federal student loans.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $7,667 |
These figures turn the debt totals into a monthly repayment picture for Mr Wayne’s School of Unisex Hair Design.
The default rate measures how many borrowers fall behind and ultimately fail to repay their federal loans. Two-year cohort default-rate data for Mr Wayne’s School of Unisex Hair Design appears below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 16.3% |
| Borrowers in the cohort | 19 |
The cohort default rate tracks borrowers who entered repayment in a given year and defaulted within the two-year measurement window.
The Difference Between 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.