by our College Data Analytics TeamHere you will find what students actually borrow to attend Academy of Hair Design - Springfield: median debt, the percentile spread, total borrowing including PLUS loans, and the cost to repay. The data below is drawn directly from federal sources.
Among first-year students at Academy of Hair Design - Springfield, 81% of incoming undergraduates borrow in year one, with a typical loan of $6,318 per borrower, covering both private and federal loans.
On the federal side, the average loan is $6,318. This reaches or tops the $5,500 first-year federal borrowing cap for a typical dependent student. Bear in mind the undergraduate averages later on cover federal loans only, whereas this freshman total folds in private loans too.
Among all degree-seeking undergrads at Academy of Hair Design - Springfield, 71% borrow through federal student loan programs, averaging $6,179 annually. That amounts to 2.2% below the $6,318 typical freshmen borrow.
Repeating that yearly amount projects to about $12,358 in two years and roughly $24,716 over four years. This projection keeps yearly federal borrowing flat and excludes private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 71% |
| Average federal loan per year | $6,179 |
| Undergraduates with a federal loan | 303 |
| Total federal loans (one year) | $1,872,325 |
Graduating and withdrawing students at Academy of Hair Design - Springfield carry a median federal debt of $7,917 in federal borrowing.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $7,917 |
| Students who completed (graduates) | $9,500 |
| 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 Academy of Hair Design - Springfield.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $2,917 |
| 25th percentile | $4,750 |
| 75th percentile | $10,000 |
| 90th percentile (highest-debt students) | $16,500 |
How wide this percentile range is tells you how much borrowing varies across students at Academy of Hair Design - Springfield.
PLUS loans — taken out by parents or graduate students — add to the total cost of attendance financed by debt at Academy of Hair Design - Springfield.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 25 | $9,980 |
Repayment burden translates the debt figures into what a borrower actually pays each month. Academy of Hair Design - Springfield.
The default rate measures how many borrowers fall behind and ultimately fail to repay their federal loans. The official Department of Education two-year default rate for Academy of Hair Design - Springfield follows.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 4.0% |
| Borrowers in the cohort | 98 |
A lower default rate generally signals that graduates earn enough to manage their loan payments.
The breakdowns below show median federal debt by income, first-generation status, and dependency.
Median Debt by Income Bracket
| Income tier | Median federal debt |
|---|---|
| Low income | $7,917 |
| Middle income | $7,917 |
| High income | $7,125 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $7,917 |
| Continuing-generation students | $7,917 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $5,500 |
| Independent students | $9,500 |
The Department of Education computes gap indicators that show how borrowing differs between student groups at Academy of Hair Design - Springfield.
The Difference Between 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?
Declaring bankruptcy does not erase federal student loan debt. If you stop paying, the federal government can garnish a portion of your wages until the loans are repaid.
References
More about our data sources and methodologies.