by our College Data Analytics TeamBelow is federal data on the loans students use to pay for American Barber Academy: median debt, the percentile spread, total borrowing including PLUS loans, and the cost to repay. The data below is drawn directly from federal sources.
At American Barber Academy, 44% of first-year students take on loan debt, for an average of $6,732 apiece. This figure includes both private and federally funded student loans.
The average federal loan is $6,732. This is at or above the $5,500 first-year federal borrowing cap that applies to the typical dependent freshman. Keep in mind the all-undergraduate averages further down count federal loans only, unlike this private-plus-federal freshman figure.
Across the full undergraduate body at American Barber Academy (freshmen included), 44% finance part of their studies with federal loans, averaging $6,098 annually. This is 9.4% lower than the first-year federal average of $6,732.
At a steady annual pace, that totals around $12,196 across two years and $24,392 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 | 44% |
| Average federal loan per year | $6,098 |
| Undergraduates with a federal loan | 96 |
| Total federal loans (one year) | $585,367 |
The middle borrower at American Barber Academy owes $8,028 in federal student loans.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $8,028 |
| Students who completed (graduates) | $11,583 |
| Students who withdrew | $4,750 |
Withdrawn-student debt matters because those borrowers carry the loans without the degree that helps repay them.
The indicators below describe what the typical debt costs to pay back at American Barber Academy.
Borrowing varies by family income, by first-generation status, and by dependency status.
Borrowing by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $8,028 |
Dependent vs Independent Borrowers
| Cohort | Median federal debt |
|---|---|
| Dependent students | $8,028 |
| Independent students | $9,500 |
The Department of Education computes gap indicators that show how borrowing differs between student groups at American Barber Academy.
The Difference Between 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
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.