by our College Data Analytics TeamBelow is federal data on the loans students use to pay for Northern Technical College— how much they borrow, how that debt is spread across the student body, and what it costs to pay back. All figures come from the U.S. Department of Education and IPEDS.
Among first-year students at Northern Technical College, 100% of incoming students take out a loan to help cover first-year costs, borrowing on average $5,444 per student, private and federal loans combined.
The average federal loan is $5,444, equal to roughly 99.0% of the typical first-year dependent student borrowing cap of $5,500. Remember the all-undergraduate figures below leave out private loans, so they will look lower than this private-plus-federal freshman amount.
Counting every undergraduate at Northern Technical College, 86% borrow through federal student loan programs, for a typical $8,954 per year. That is 64.5% larger than the $5,444 freshmen take on.
Borrowing at that rate every year works out to about $17,908 by year two and around $35,816 by the fourth year. This assumes steady federal borrowing and leaves out private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 86% |
| Average federal loan per year | $8,954 |
| Undergraduates with a federal loan | 31 |
| Total federal loans (one year) | $277,588 |
Graduating and withdrawing students at Northern Technical College carry a median federal debt of $9,500 in federal student loans.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $9,500 |
Repayment burden translates the debt figures into what a borrower actually pays each month. Northern Technical College.
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
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.