How does student loan debt and default rates at Albion College compare to the national average, and how could this impact your future? Scroll down the page for answers.
Included in This Report:
- Average Loans for Freshman
- Average Undergraduate Loans
- Default Rate at Albion
- Frequently Asked Questions
- Additonal Information
Freshmen At Albion College Take Out an Average of $7,813 in Loans in Their First Year
At Albion College, 70.0% of incoming students take out a loan to help defray freshman year costs, averaging $7,813 a piece. This amount includes both private and federally-funded student loans.
The average federal loan is $5,765, which is 104.8% of the first-year borrowing cap of $5,500* for the typical first-year dependent student.
Unlike the data shown for freshmen, average undergraduate student loan amounts do not include private loans. In addition to unreported parent loans, this can increase the average amount borrowed significantly.