by our College Data Analytics TeamBelow is federal data on the loans students use to pay for Carrington College-Albuquerque— how much they borrow, how that debt is spread across the student body, and what it costs to pay back. All figures come from the U.S. Department of Education and IPEDS.
Looking at the entering class at Carrington College, Albuquerque, 88% of incoming undergraduates borrow in year one, for an average of $7,747 each, across private and federal loan sources.
The average federal loan is $7,756. 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.
Among all degree-seeking undergrads at Carrington College, Albuquerque, 69% take out federal student loans, averaging $7,279 in federal loans per year. That amounts to 6.2% less than the $7,756 typical freshmen borrow.
At a steady annual pace, that totals around $14,558 by year two and around $29,116 over a four-year span. This projection keeps yearly federal borrowing flat and excludes private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 69% |
| Average federal loan per year | $7,279 |
| Undergraduates with a federal loan | 362 |
| Total federal loans (one year) | $2,635,132 |
Graduating and withdrawing students at Carrington College, Albuquerque carry a median federal debt of $9,298 of cumulative federal debt.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $9,298 |
| Students who completed (graduates) | $9,500 |
| Students who withdrew | $4,845 |
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 Carrington College, Albuquerque.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,166 |
| 25th percentile | $5,500 |
| 75th percentile | $9,500 |
| 90th percentile (highest-debt students) | $22,201 |
The gap between the 10th and 90th percentile is the clearest single measure of how widely borrowing varies at Carrington College, Albuquerque.
The figures above count only the students own federal loans. Adding PLUS loans (borrowed by parents or graduate students) gives a fuller picture of total borrowing at Carrington College, Albuquerque.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 359 | $6,804 |
| Completed (graduates) | 248 | $8,060 |
| Did not complete | 111 | $4,268 |
Completers face an estimated standard 10-year monthly payment on their PLUS-inclusive debt of roughly $95.84/mo.
The split below distinguishes Stafford borrowers from non-Stafford borrowers at Carrington College, Albuquerque.
Current-Year Stafford Borrowers
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 333 | $6,804 |
| No Stafford loan this year | 26 | $6,775 |
The indicators below describe what the typical debt costs to pay back at Carrington College, Albuquerque.
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 Carrington College, Albuquerque follows.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 15.4% |
| Borrowers in the cohort | 4002 |
The cohort default rate tracks borrowers who entered repayment in a given year and defaulted within the two-year measurement window.
The breakdowns below show median federal debt by income, first-generation status, and dependency.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $9,229 |
| Middle income | $9,496 |
| High income | $9,500 |
First-Gen vs Continuing-Gen Borrowing
| Cohort | Median federal debt |
|---|---|
| First-generation students | $9,240 |
| Continuing-generation students | $9,500 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $5,555 |
| Independent students | $9,500 |
Federal data publishes the following gap measures for Carrington College, Albuquerque.
The Difference Between Subsidized and 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.
Worth Knowing
Federal student loans are not discharged in bankruptcy in all but the rarest cases, and the government can withhold part of your income or tax refund if you default.
References
More about our data sources and methodologies.