by our College Data Analytics TeamBelow is federal data on the loans students use to pay for Nuvo College of Cosmetology— 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.
Looking at the entering class at Nuvo College of Cosmetology, 37% of first-year students take on loan debt, averaging $5,723 each, across private and federal loan sources.
The average federal loan is $5,723. 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.
Across the full undergraduate body at Nuvo College of Cosmetology (freshmen included), 29% use federal student loans to help pay for their education, averaging $6,105 annually. That is 6.7% more than the freshman federal average of $5,723.
Carrying that yearly figure forward comes to roughly $12,210 after two years and $24,420 over a four-year span. This projection keeps yearly federal borrowing flat and excludes private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 29% |
| Average federal loan per year | $6,105 |
| Undergraduates with a federal loan | 25 |
| Total federal loans (one year) | $152,637 |
Graduating and withdrawing students at Nuvo College of Cosmetology carry a median federal debt of $5,500 in federal borrowing.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $5,500 |
| Students who completed (graduates) | $5,500 |
Half of all borrowers fall between the 25th and 75th percentiles shown below for Nuvo College of Cosmetology.
| Percentile | Cumulative Federal Debt |
|---|---|
| 25th percentile | $2,829 |
| 75th percentile | $7,200 |
These figures turn the debt totals into a monthly repayment picture for Nuvo College of Cosmetology.
Defaulting means failing to repay a federal student loan, which carries serious credit consequences. The official Department of Education two-year default rate for Nuvo College of Cosmetology follows.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 4.8% |
| Borrowers in the cohort | 41 |
This rate follows a borrower cohort from the start of repayment through the two-year window the Department of Education uses.
Median debt differs by income tier, first-generation status, and whether the student is financially dependent.
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $3,697 |
| Independent students | $8,700 |
Subsidized vs. 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.