by our College Data Analytics TeamThis page focuses on the debt students take on to attend Summit Salon Academy - Lexington: 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 Summit Salon Academy Lexington, 70% of first-year students take on loan debt, averaging $5,251 per borrower, covering both private and federal loans.
The average federal loan is $5,251, or about 95.5% of the $5,500 federal limit that applies to a typical first-year dependent borrower. 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 Summit Salon Academy Lexington, freshmen included, 63% use federal student loans to help pay for their education, with a mean of $6,053 per year. This is 15.3% higher than the first-year federal average of $5,251.
Repeating that yearly amount projects to about $12,106 over two years and about $24,212 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 | 63% |
| Average federal loan per year | $6,053 |
| Undergraduates with a federal loan | 165 |
| Total federal loans (one year) | $998,761 |
The median student at Summit Salon Academy Lexington borrows $6,333 in federal borrowing.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $6,333 |
| Students who completed (graduates) | $7,917 |
| Students who withdrew | $4,750 |
Withdrawn-student debt matters because those borrowers carry the loans without the degree that helps repay them.
The median hides the spread, so the percentiles below show cumulative federal debt at four points in the distribution for Summit Salon Academy Lexington.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,167 |
| 25th percentile | $4,750 |
| 75th percentile | $11,230 |
| 90th percentile (highest-debt students) | $16,480 |
How wide this percentile range is tells you how much borrowing varies across students at Summit Salon Academy Lexington.
The indicators below describe what the typical debt costs to pay back at Summit Salon Academy Lexington.
Defaulting means failing to repay a federal student loan, which carries serious credit consequences. The official Department of Education two-year default rate for Summit Salon Academy Lexington appears below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 14.1% |
| Borrowers in the cohort | 85 |
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 | $6,333 |
| Middle income | $4,750 |
| High income | $4,584 |
First-Gen vs Continuing-Gen Borrowing
| Cohort | Median federal debt |
|---|---|
| First-generation students | $6,333 |
| Continuing-generation students | $4,750 |
Dependent vs Independent Borrowers
| Cohort | Median federal debt |
|---|---|
| Dependent students | $4,584 |
| Independent students | $7,900 |
These pre-calculated indicators summarize the borrowing gaps between cohorts at Summit Salon Academy Lexington.
Subsidized and Unsubsidized Loans
Subsidized loans pause interest while you are in school; unsubsidized loans do not. That difference compounds over four years, so the type of loan you take matters as much as the amount.
Did You Know?
Unlike most other debt, federal student loans generally survive bankruptcy — and unpaid balances can lead to wage garnishment — so borrow only what you truly need.
References
More about our data sources and methodologies.