by our College Data Analytics TeamThis page focuses on the debt students take on to attend Sharps Academy of Hair Styling— 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.
For undergraduates overall at Sharps Academy of Hair Styling, 47% rely on federal student loans toward their education, for a typical $3,286 in federal loans per year.
Borrowing at that rate every year works out to about $6,572 across two years and $13,144 over a four-year span. These figures assume identical federal borrowing each year and omit private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 47% |
| Average federal loan per year | $3,286 |
| Undergraduates with a federal loan | 14 |
| Total federal loans (one year) | $46,000 |
The median hides the spread, so the percentiles below show cumulative federal debt at four points in the distribution for Sharps Academy of Hair Styling.
| Percentile | Cumulative Federal Debt |
|---|---|
| 25th percentile | $3,208 |
| 75th percentile | $9,833 |
Repayment burden translates the debt figures into what a borrower actually pays each month. Sharps Academy of Hair Styling.
A loan default — failing to keep up with federal student-loan payments — is one of the worst financial outcomes a borrower can face. Two-year cohort default-rate data for Sharps Academy of Hair Styling follows.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 2.6% |
| Borrowers in the cohort | 18 |
A lower default rate generally signals that graduates earn enough to manage their loan payments.
Subsidized and 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.
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.