by our College Data Analytics TeamThis page focuses on the debt students take on to attend Phagans School of Hair Design— 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 Phagans School of Hair Design, 74% of incoming students take out a loan to help cover first-year costs, borrowing on average $6,212 per student, private and federal loans combined.
The average federally funded loan is $6,212. This is at or above the $5,500 first-year federal borrowing cap that applies to the typical dependent freshman. Be aware: the undergraduate-wide averages below exclude private loans, while this freshman number includes them.
Among all degree-seeking undergrads at Phagans School of Hair Design, 53% rely on federal student loans toward their education, with a mean of $6,744 a year. That amounts to 8.6% more than the $6,212 borrowed by freshmen.
At a steady annual pace, that totals around $13,488 by year two and around $26,976 across a four-year program. This assumes steady federal borrowing and leaves out private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 53% |
| Average federal loan per year | $6,744 |
| Undergraduates with a federal loan | 160 |
| Total federal loans (one year) | $1,079,088 |
Graduating and withdrawing students at Phagans School of Hair Design carry a median federal debt of $7,652 in federal student loans.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $7,652 |
| Students who completed (graduates) | $8,297 |
| Students who withdrew | $4,750 |
Debt carried by students who withdrew is a key risk signal — these borrowers owe money without having earned the credential.
Half of all borrowers fall between the 25th and 75th percentiles shown below for Phagans School of Hair Design.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $5,077 |
| 25th percentile | $8,328 |
| 75th percentile | $19,074 |
| 90th percentile (highest-debt students) | $20,000 |
How wide this percentile range is tells you how much borrowing varies across students at Phagans School of Hair Design.
PLUS loans — taken out by parents or graduate students — add to the total cost of attendance financed by debt at Phagans School of Hair Design.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 29 | $7,606 |
These figures turn the debt totals into a monthly repayment picture for Phagans School of Hair Design.
A loan default — failing to keep up with federal student-loan payments — is one of the worst financial outcomes a borrower can face. The official Department of Education two-year default rate for Phagans School of Hair Design is shown below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 8.9% |
| Borrowers in the cohort | 56 |
The cohort default rate tracks borrowers who entered repayment in a given year and defaulted within the two-year measurement window.
The breakdowns below show median federal debt by income, first-generation status, and dependency.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $7,652 |
| Middle income | $7,652 |
| High income | $10,505 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $7,652 |
| Continuing-generation students | $8,948 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $7,652 |
| Independent students | $8,039 |
These pre-calculated indicators summarize the borrowing gaps between cohorts at Phagans School of Hair Design.
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.
Did You Know?
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.