by our College Data Analytics TeamBelow is federal data on the loans students use to pay for Allegany College of Maryland— how much they borrow, how that debt is spread across the student body, and what it costs to pay back. These figures are reported by the Department of Education and IPEDS.
For incoming students at Allegany College of Maryland, 38% of incoming undergraduates borrow in year one, at roughly $5,724 each — a figure that counts both private and federal student loans.
The average federal loan is $5,345, equal to roughly 97.2% of the $5,500 first-year federal borrowing limit for a typical dependent freshman. Remember the all-undergraduate figures below leave out private loans, so they will look lower than this private-plus-federal freshman amount.
Across the full undergraduate body at Allegany College of Maryland (freshmen included), 45% rely on federal student loans toward their education, borrowing on average $6,151 a year. This works out to 15.1% higher than the $5,345 typical freshmen borrow.
At a steady annual pace, that totals around $12,302 by year two and around $24,604 by the fourth year. The estimate holds federal borrowing constant and does not count private or Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 45% |
| Average federal loan per year | $6,151 |
| Undergraduates with a federal loan | 794 |
| Total federal loans (one year) | $4,884,149 |
The median student at Allegany College of Maryland borrows $8,250 in federal student loans.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $8,250 |
| Students who completed (graduates) | $13,702 |
| Students who withdrew | $5,500 |
Withdrawn-student debt matters because those borrowers carry the loans without the degree that helps repay them.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 Allegany College of Maryland.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $2,750 |
| 25th percentile | $4,750 |
| 75th percentile | $15,490 |
| 90th percentile (highest-debt students) | $25,250 |
How wide this percentile range is tells you how much borrowing varies across students at Allegany College of Maryland.
Median federal debt understates the full cost when PLUS loans are included. The totals below add PLUS borrowing for Allegany College of Maryland.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 185 | $10,000 |
| Completed (graduates) | 62 | $9,029 |
| Did not complete | 123 | $10,400 |
For students who completed, the median total debt including PLUS loans works out to a standard 10-year payment of about $107.36/mo.
Stafford loans are the federal direct-loan program most undergraduates use. The breakdown below separates borrowers who used Stafford loans from those who did not at Allegany College of Maryland.
Stafford This Year vs Not
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 129 | $9,850 |
| No Stafford loan this year | 56 | $12,000 |
The indicators below describe what the typical debt costs to pay back at Allegany College of Maryland.
A loan default — failing to keep up with federal student-loan payments — is one of the worst financial outcomes a borrower can face. Two-year cohort default-rate data for Allegany College of Maryland appears below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 13.4% |
| Borrowers in the cohort | 860 |
A lower default rate generally signals that graduates earn enough to manage their loan payments.
Borrowing varies by family income, by first-generation status, and by dependency status.
Borrowing by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $8,250 |
| Middle income | $8,250 |
| High income | $8,250 |
First-Gen vs Continuing-Gen Borrowing
| Cohort | Median federal debt |
|---|---|
| First-generation students | $8,250 |
| Continuing-generation students | $7,722 |
Dependent vs Independent Borrowers
| Cohort | Median federal debt |
|---|---|
| Dependent students | $6,775 |
| Independent students | $10,166 |
These pre-calculated indicators summarize the borrowing gaps between cohorts at Allegany College of Maryland.
Subsidized vs. 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
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.