by our College Data Analytics TeamThis page focuses on the debt students take on to attend Calvin University, 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 Calvin, 39% of incoming students take out a loan to help cover first-year costs, averaging $7,563 each, across private and federal loan sources.
Federal loans alone average $5,200, which is 94.5% of the $5,500 cap on first-year federal borrowing for the typical dependent student. Note that average undergraduate loan amounts shown later do not include private loans — so the full freshman figure above is not directly comparable.
Across the full undergraduate body at Calvin (freshmen included), 35% use federal student loans to help pay for their education, for a typical $6,518 a year. This works out to 25.3% higher than the first-year federal average of $5,200.
Carrying that yearly figure forward comes to roughly $13,036 in two years and roughly $26,072 across a four-year program. These projections assume the same federal borrowing each year and exclude private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 35% |
| Average federal loan per year | $6,518 |
| Undergraduates with a federal loan | 1,020 |
| Total federal loans (one year) | $6,648,485 |
The middle borrower at Calvin owes $19,500 in federal borrowing.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $19,500 |
| Students who completed (graduates) | $23,250 |
| Students who withdrew | $9,532 |
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 Calvin.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $5,250 |
| 25th percentile | $10,000 |
| 75th percentile | $29,000 |
| 90th percentile (highest-debt students) | $31,000 |
The spread between the lowest- and highest-debt deciles summarizes how variable outcomes are at Calvin.
Median federal debt understates the full cost when PLUS loans are included. The totals below add PLUS borrowing for Calvin.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 202 | $25,812 |
| Completed (graduates) | 129 | $33,900 |
| Did not complete | 73 | $18,000 |
Completers face an estimated standard 10-year monthly payment on their PLUS-inclusive debt of roughly $403.11/mo.
Federal data lets us separate Stafford borrowers from the rest at Calvin.
Borrowers With a Stafford Loan This Year
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 192 | — |
| No Stafford loan this year | 10 | — |
The indicators below describe what the typical debt costs to pay back at Calvin.
Defaulting means failing to repay a federal student loan, which carries serious credit consequences. The federal two-year cohort default rate for Calvin follows.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 2.6% |
| Borrowers in the cohort | 761 |
This rate follows a borrower cohort from the start of repayment through the two-year window the Department of Education uses.
Median debt differs by income tier, first-generation status, and whether the student is financially dependent.
Median Debt by Income Bracket
| Income tier | Median federal debt |
|---|---|
| Low income | $21,500 |
| Middle income | $20,885 |
| High income | $19,500 |
First-Gen vs Continuing-Gen Borrowing
| Cohort | Median federal debt |
|---|---|
| First-generation students | $21,145 |
| Continuing-generation students | $19,500 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $19,500 |
| Independent students | $23,000 |
The Department of Education computes gap indicators that show how borrowing differs between student groups at Calvin.
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.
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.