by our College Data Analytics TeamBelow is federal data on the loans students use to pay for Shore Beauty School: median debt, the percentile spread, total borrowing including PLUS loans, and the cost to repay. These figures are reported by the Department of Education and IPEDS.
At Shore Beauty School specifically, 88% of freshmen borrow to help pay for their first year, borrowing on average $7,686 per student, private and federal loans combined.
The typical federal loan comes to $7,614. That is at or past the $5,500 federal first-year limit for the typical dependent freshman. Be aware: the undergraduate-wide averages below exclude private loans, while this freshman number includes them.
Counting every undergraduate at Shore Beauty School, 68% rely on federal student loans toward their education, for a typical $6,982 a year. It comes to 8.3% smaller than the $7,614 typical freshmen borrow.
Borrowing at that rate every year works out to about $13,964 over two years and about $27,928 by the fourth year. These projections assume the same federal borrowing each year and exclude private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 68% |
| Average federal loan per year | $6,982 |
| Undergraduates with a federal loan | 224 |
| Total federal loans (one year) | $1,564,043 |
Graduating and withdrawing students at Shore Beauty School carry a median federal debt of $6,333 of cumulative federal debt.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $6,333 |
| Students who completed (graduates) | $6,333 |
| Students who withdrew | $4,750 |
The figure for students who withdrew is worth watching: debt without a completed credential is the hardest to repay.
Half of all borrowers fall between the 25th and 75th percentiles shown below for Shore Beauty School.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,641 |
| 25th percentile | $4,750 |
| 75th percentile | $10,105 |
| 90th percentile (highest-debt students) | $12,449 |
The spread between the lowest- and highest-debt deciles summarizes how variable outcomes are at Shore Beauty School.
Median federal debt understates the full cost when PLUS loans are included. The totals below add PLUS borrowing for Shore Beauty School.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 53 | $3,450 |
| Completed (graduates) | 34 | $3,552 |
| Did not complete | 19 | $2,404 |
Completers face an estimated standard 10-year monthly payment on their PLUS-inclusive debt of roughly $42.24/mo.
These figures turn the debt totals into a monthly repayment picture for Shore Beauty School.
Defaulting means failing to repay a federal student loan, which carries serious credit consequences. Two-year cohort default-rate data for Shore Beauty School follows.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 11.4% |
| Borrowers in the cohort | 96 |
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 | $6,163 |
| Middle income | $6,333 |
| High income | $6,222 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $4,750 |
| Independent students | $6,333 |
These pre-calculated indicators summarize the borrowing gaps between cohorts at Shore Beauty School.
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.
Important to Remember
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.