by our College Data Analytics TeamThis page focuses on the debt students take on to attend Austin Career Institute— 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.
Among first-year students at Austin Career Institute, 66% of new students use loans toward freshman-year expenses, at roughly $4,289 per student, private and federal loans combined.
The average federally funded loan is $4,289, amounting to 78.0% of the typical first-year dependent student borrowing cap of $5,500. Keep in mind the all-undergraduate averages further down count federal loans only, unlike this private-plus-federal freshman figure.
Among all degree-seeking undergrads at Austin Career Institute, 54% borrow through federal student loan programs, for a typical $5,041 each per year. That amounts to 17.5% greater than the freshman federal average of $4,289.
Carrying that yearly figure forward comes to roughly $10,082 after two years and $20,164 after four. These figures assume identical federal borrowing each year and omit private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 54% |
| Average federal loan per year | $5,041 |
| Undergraduates with a federal loan | 187 |
| Total federal loans (one year) | $942,661 |
Graduating and withdrawing students at Austin Career Institute carry a median federal debt of $4,400 in federal student loans.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $4,400 |
The indicators below describe what the typical debt costs to pay back at Austin Career Institute.
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
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.