by our College Data Analytics TeamThis page focuses on the debt students take on to attend North Central College— 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.
Among first-year students at North Central, 52% of freshmen borrow to help pay for their first year, at roughly $11,096 per borrower, covering both private and federal loans.
The typical federal loan comes to $9,582. This is at or above the $5,500 first-year federal borrowing cap that applies to the typical dependent freshman. Bear in mind the undergraduate averages later on cover federal loans only, whereas this freshman total folds in private loans too.
For undergraduates overall at North Central, 49% use federal student loans to help pay for their education, for a typical $9,692 a year. This works out to 1.1% above the freshman federal average of $9,582.
Borrowing at that rate every year works out to about $19,384 across two years and $38,768 across a four-year program. The estimate holds federal borrowing constant and does not count private or Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 49% |
| Average federal loan per year | $9,692 |
| Undergraduates with a federal loan | 1,150 |
| Total federal loans (one year) | $11,145,713 |
Graduating and withdrawing students at North Central carry a median federal debt of $18,750 of cumulative federal debt.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $18,750 |
| Students who completed (graduates) | $24,500 |
| Students who withdrew | $5,625 |
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 North Central.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $4,334 |
| 25th percentile | $9,500 |
| 75th percentile | $27,000 |
| 90th percentile (highest-debt students) | $31,000 |
The spread between the lowest- and highest-debt deciles summarizes how variable outcomes are at North Central.
The figures above count only the students own federal loans. Adding PLUS loans (borrowed by parents or graduate students) gives a fuller picture of total borrowing at North Central.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 477 | $24,853 |
| Completed (graduates) | 344 | $30,000 |
| Did not complete | 133 | $15,835 |
For students who completed, the median total debt including PLUS loans works out to a standard 10-year payment of about $356.73/mo.
The split below distinguishes Stafford borrowers from non-Stafford borrowers at North Central.
Stafford This Year vs Not
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 461 | — |
| No Stafford loan this year | 16 | — |
Repayment burden translates the debt figures into what a borrower actually pays each month. North Central.
Defaulting means failing to repay a federal student loan, which carries serious credit consequences. The official Department of Education two-year default rate for North Central follows.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 4.0% |
| Borrowers in the cohort | 838 |
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.
Borrowing by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $20,000 |
| Middle income | $19,000 |
| High income | $17,625 |
First-Gen vs Continuing-Gen Borrowing
| Cohort | Median federal debt |
|---|---|
| First-generation students | $19,500 |
| Continuing-generation students | $15,250 |
Dependent vs Independent Borrowers
| Cohort | Median federal debt |
|---|---|
| Dependent students | $18,500 |
| Independent students | $25,000 |
Federal data publishes the following gap measures for North Central.
Subsidized vs. 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.
Worth Knowing
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.