by our College Data Analytics TeamThis page focuses on the debt students take on to attend The Salon Professional Academy - Evansville, including completion-adjusted borrowing and a standard repayment estimate. The data below is drawn directly from federal sources.
At TSPA - Evansville, 25% of new students use loans toward freshman-year expenses, borrowing on average $6,758 apiece. This figure includes both private and federally funded student loans.
The average federally funded loan is $6,758. This meets or exceeds the $5,500 cap on first-year federal borrowing for the typical dependent freshman. Keep in mind the all-undergraduate averages further down count federal loans only, unlike this private-plus-federal freshman figure.
For undergraduates overall at TSPA - Evansville, 21% use federal student loans to help pay for their education, for a typical $6,941 per year. It comes to 2.7% above the freshman federal average of $6,758.
Borrowing at that rate every year works out to about $13,882 by year two and around $27,764 across a four-year program. These projections assume the same federal borrowing each year and exclude private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 21% |
| Average federal loan per year | $6,941 |
| Undergraduates with a federal loan | 58 |
| Total federal loans (one year) | $402,559 |
Graduating and withdrawing students at TSPA - Evansville carry a median federal debt of $9,500 in federal student loans.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $9,500 |
| Students who completed (graduates) | $9,833 |
| Students who withdrew | $4,750 |
Withdrawn-student debt matters because those borrowers carry the loans without the degree that helps repay them.
Half of all borrowers fall between the 25th and 75th percentiles shown below for TSPA - Evansville.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $4,277 |
| 25th percentile | $7,002 |
| 75th percentile | $12,050 |
| 90th percentile (highest-debt students) | $16,500 |
How wide this percentile range is tells you how much borrowing varies across students at TSPA - Evansville.
PLUS loans — taken out by parents or graduate students — add to the total cost of attendance financed by debt at TSPA - Evansville.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 34 | $7,700 |
These figures turn the debt totals into a monthly repayment picture for TSPA - Evansville.
Defaulting means failing to repay a federal student loan, which carries serious credit consequences. The official Department of Education two-year default rate for TSPA - Evansville is shown below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 10.7% |
| Borrowers in the cohort | 28 |
A lower default rate generally signals that graduates earn enough to manage their loan payments.
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 | $8,250 |
First-Gen vs Continuing-Gen Borrowing
| Cohort | Median federal debt |
|---|---|
| First-generation students | $9,500 |
| Continuing-generation students | $9,541 |
Dependent vs Independent Borrowers
| Cohort | Median federal debt |
|---|---|
| Dependent students | $9,792 |
| Independent students | $8,281 |
The Department of Education computes gap indicators that show how borrowing differs between student groups at TSPA - Evansville.
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.
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.