by our College Data Analytics TeamBelow is federal data on the loans students use to pay for Paul Mitchell the School Lombard: median debt, the percentile spread, total borrowing including PLUS loans, and the cost to repay. The data below is drawn directly from federal sources.
At Paul Mitchell the School Lombard, 73% of freshmen borrow to help pay for their first year, averaging $9,104 each, across private and federal loan sources.
The average federally funded loan is $9,104. That sits at or beyond the $5,500 first-year federal limit for a typical dependent student. Keep in mind the all-undergraduate averages further down count federal loans only, unlike this private-plus-federal freshman figure.
Looking at all undergraduates at Paul Mitchell the School Lombard, freshmen included, 50% take out federal student loans, borrowing on average $7,564 in federal loans per year. That is 16.9% less than the $9,104 freshmen take on.
Repeating that yearly amount projects to about $15,128 in two years and roughly $30,256 after four. These projections assume the same federal borrowing each year and exclude private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 50% |
| Average federal loan per year | $7,564 |
| Undergraduates with a federal loan | 52 |
| Total federal loans (one year) | $393,303 |
The median student at Paul Mitchell the School Lombard borrows $9,500 in federal student loans.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $9,500 |
| Students who completed (graduates) | $13,598 |
| Students who withdrew | $4,750 |
The figure for students who withdrew is worth watching: debt without a completed credential is the hardest to repay.
The median hides the spread, so the percentiles below show cumulative federal debt at four points in the distribution for Paul Mitchell the School Lombard.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,825 |
| 25th percentile | $5,950 |
| 75th percentile | $15,222 |
| 90th percentile (highest-debt students) | $16,500 |
How wide this percentile range is tells you how much borrowing varies across students at Paul Mitchell the School Lombard.
Median federal debt understates the full cost when PLUS loans are included. The totals below add PLUS borrowing for Paul Mitchell the School Lombard.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 130 | $6,902 |
| Completed (graduates) | 81 | $8,521 |
| Did not complete | 49 | $4,885 |
For students who completed, the median total debt including PLUS loans works out to a standard 10-year payment of about $101.32/mo.
These figures turn the debt totals into a monthly repayment picture for Paul Mitchell the School Lombard.
Defaulting means failing to repay a federal student loan, which carries serious credit consequences. The official Department of Education two-year default rate for Paul Mitchell the School Lombard appears below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 8.2% |
| Borrowers in the cohort | 205 |
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.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $9,500 |
| Middle income | $9,833 |
| High income | $9,833 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $9,684 |
| Continuing-generation students | $9,500 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $9,624 |
| Independent students | $9,500 |
The Department of Education computes gap indicators that show how borrowing differs between student groups at Paul Mitchell the School Lombard.
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.
Worth Knowing
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.