Carolina College of Biblical Studies Loan Debt & Loan Default Rates

How does student loan debt and default rates at Carolina College of Biblical Studies compare to the national average, and how could this impact your future? Scroll down the page for answers.

Freshmen At Carolina College of Biblical Studies Take Out an Average of $8,687 in Loans in Their First Year

At Carolina College of Biblical Studies, 50.0% of incoming students take out a loan to help defray freshman year costs, averaging $8,687 a piece. This amount includes both private and federally-funded student loans.

The average federal loan is $8,687, which is 157.9% of the first-year borrowing cap of $5,500* for the typical first-year dependent student.

The Average Loan Amount for All Undergrads at Carolina College of Biblical Studies is $9,535 Per Year.

30.0% of all undergraduate students (including freshmen) at Carolina College of Biblical Studies utilize federal student loans to help pay for their college education, averaging $9,535 per year. This amount is 9.8% higher than the $8,687 amount borrowed by freshmen. The fact that returning students borrow more than freshmen could indicate that the school front-loads financial aid packages, offering more aid to new students while expecting returning students to take on larger loans to continue their education.

Borrowing the average amount will result in loans of $19,070 after two years and $38,140 after four.

These numbers are based on borrowing the same amount each year and do not include any loans where the parent is the borrower, even though Parent PLUS loans are frequently included in financial aid packages.

Were you surprised by how much you are projected to owe by the time you graduate? Remember this is an average: some students will borrow more than this.

Is the debt worth it? Research return on investment.

The Default Rate on Student Loans is Unavailable

We were planning to provide you with the loan default rate at Carolina College of Biblical Studies and compare it to the national average of 7.4%, but unfortunately, that information is not available to us.