by our College Data Analytics TeamHere you will find what students actually borrow to attend Academy of Salon Professionals— how much they borrow, how that debt is spread across the student body, and what it costs to pay back. All figures come from the U.S. Department of Education and IPEDS.
For incoming students at Academy of Salon Professionals, 52% of freshmen borrow to help pay for their first year, for an average of $4,864 per student, private and federal loans combined.
The average federal loan is $4,864, representing 88.4% of the typical first-year dependent student borrowing cap of $5,500. Be aware: the undergraduate-wide averages below exclude private loans, while this freshman number includes them.
Counting every undergraduate at Academy of Salon Professionals, 58% take out federal student loans, averaging $8,221 a year. That amounts to 69.0% more than the $4,864 borrowed by freshmen.
At a steady annual pace, that totals around $16,442 across two years and $32,884 over a four-year span. These projections assume the same federal borrowing each year and exclude private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 58% |
| Average federal loan per year | $8,221 |
| Undergraduates with a federal loan | 53 |
| Total federal loans (one year) | $435,694 |
The median student at Academy of Salon Professionals borrows $7,917 of cumulative federal debt.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $7,917 |
| Students who completed (graduates) | $9,833 |
| 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 Salon Professionals.
| Percentile | Cumulative Federal Debt |
|---|---|
| 25th percentile | $6,194 |
| 75th percentile | $15,086 |
These figures turn the debt totals into a monthly repayment picture for Academy of Salon Professionals.
Subsidized and Unsubsidized Loans
Unsubsidized federal student loans accrue interest every month — even while you are still enrolled. Unless you pay that interest as it builds, the balance you owe at graduation can be noticeably higher than the amount you originally borrowed.
Worth Knowing
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.