by our College Data Analytics TeamHere you will find what students actually borrow to attend American Academy McAllister Institute of Funeral Service— 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.
At AAMI, 63% of new students use loans toward freshman-year expenses, averaging $7,980 each — a figure that counts both private and federal student loans.
On the federal side, the average loan is $7,980. That is at or past the $5,500 federal first-year limit 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.
Counting every undergraduate at AAMI, 54% use federal student loans to help pay for their education, for a typical $3,611 annually. It comes to 54.7% smaller than the first-year federal average of $7,980.
Repeating that yearly amount projects to about $7,222 across two years and $14,444 after four. This assumes steady federal borrowing and leaves out private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 54% |
| Average federal loan per year | $3,611 |
| Undergraduates with a federal loan | 151 |
| Total federal loans (one year) | $545,214 |
The median student at AAMI borrows $11,000 in federal borrowing.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $11,000 |
| Students who completed (graduates) | $21,150 |
| Students who withdrew | $9,375 |
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 AAMI.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $2,000 |
| 25th percentile | $3,100 |
| 75th percentile | $13,900 |
| 90th percentile (highest-debt students) | $20,400 |
The gap between the 10th and 90th percentile is the clearest single measure of how widely borrowing varies at AAMI.
The figures above count only the students own federal loans. Adding PLUS loans (borrowed by parents or graduate students) gives a fuller picture of total borrowing at AAMI.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 54 | $13,245 |
| Completed (graduates) | 21 | $18,743 |
| Did not complete | 33 | $12,000 |
Completers face an estimated standard 10-year monthly payment on their PLUS-inclusive debt of roughly $222.87/mo.
Federal data lets us separate Stafford borrowers from the rest at AAMI.
Borrowers With a Stafford Loan This Year
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 40 | — |
| No Stafford loan this year | 14 | — |
Repayment burden translates the debt figures into what a borrower actually pays each month. AAMI.
Defaulting means failing to repay a federal student loan, which carries serious credit consequences. Two-year cohort default-rate data for AAMI follows.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 12.2% |
| Borrowers in the cohort | 131 |
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.
Borrowing by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $10,800 |
| Middle income | $11,750 |
| High income | $11,000 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $10,800 |
| Continuing-generation students | $14,200 |
Dependent vs Independent Borrowers
| Cohort | Median federal debt |
|---|---|
| Dependent students | $9,900 |
| Independent students | $11,500 |
These pre-calculated indicators summarize the borrowing gaps between cohorts at AAMI.
Subsidized vs. 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.
Worth Knowing
Unlike most other debt, federal student loans generally survive bankruptcy — and unpaid balances can lead to wage garnishment — so borrow only what you truly need.
References
More about our data sources and methodologies.