by our College Data Analytics TeamHere you will find what students actually borrow to attend Beloit College, including completion-adjusted borrowing and a standard repayment estimate. These figures are reported by the Department of Education and IPEDS.
Among first-year students at Beloit, 65% of new students use loans toward freshman-year expenses, with a typical loan of $8,166 apiece. This figure includes both private and federally funded student loans.
The average federally funded loan is $4,853, representing 88.2% of the typical first-year dependent student borrowing cap of $5,500. 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 Beloit (freshmen included), 57% finance part of their studies with federal loans, borrowing on average $6,123 per year. This works out to 26.2% above the $4,853 freshmen take on.
Borrowing the same amount each year would add up to roughly $12,246 across two years and $24,492 over four years. These projections assume the same federal borrowing each year and exclude private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 57% |
| Average federal loan per year | $6,123 |
| Undergraduates with a federal loan | 509 |
| Total federal loans (one year) | $3,116,680 |
The median student at Beloit borrows $22,773 in federal borrowing.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $22,773 |
| Students who completed (graduates) | $25,738 |
| Students who withdrew | $9,176 |
Withdrawn-student debt matters because those borrowers carry the loans without the degree that helps repay them.
The median hides the spread, so the percentiles below show cumulative federal debt at four points in the distribution for Beloit.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $5,500 |
| 25th percentile | $10,500 |
| 75th percentile | $27,000 |
| 90th percentile (highest-debt students) | $31,692 |
The gap between the 10th and 90th percentile is the clearest single measure of how widely borrowing varies at Beloit.
PLUS loans — taken out by parents or graduate students — add to the total cost of attendance financed by debt at Beloit.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 81 | $30,250 |
| Completed (graduates) | 61 | $32,004 |
| Did not complete | 20 | $18,800 |
On a standard 10-year plan, the median completing borrower would pay about $380.56/mo.
These figures turn the debt totals into a monthly repayment picture for Beloit.
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 Beloit is shown below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 0.6% |
| Borrowers in the cohort | 288 |
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.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $23,434 |
| Middle income | $20,000 |
| High income | $23,250 |
First-Gen vs Continuing-Gen Borrowing
| Cohort | Median federal debt |
|---|---|
| First-generation students | $22,250 |
| Continuing-generation students | $23,250 |
These pre-calculated indicators summarize the borrowing gaps between cohorts at Beloit.
Subsidized vs. Unsubsidized Loans
With an unsubsidized loan, interest starts adding up the day the loan is disbursed, including during school. Subsidized loans, by contrast, do not accrue interest while you are enrolled at least half-time, which makes them the less expensive option when you qualify.
Did You Know?
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.