by our College Data Analytics TeamHere you will find what students actually borrow to attend Carrington College-Spokane— how much they borrow, how that debt is spread across the student body, and what it costs to pay back. The data below is drawn directly from federal sources.
Among first-year students at Carrington College, Spokane, 79% of first-year students take on loan debt, borrowing on average $7,415 apiece. This figure includes both private and federally funded student loans.
The average federal loan is $7,252. This reaches or tops the $5,500 first-year federal borrowing cap for a typical dependent student. Remember the all-undergraduate figures below leave out private loans, so they will look lower than this private-plus-federal freshman amount.
For undergraduates overall at Carrington College, Spokane, 66% use federal student loans to help pay for their education, with a mean of $6,324 annually. That is 12.8% below the $7,252 borrowed by freshmen.
Borrowing the same amount each year would add up to roughly $12,648 after two years and $25,296 by the fourth year. The estimate holds federal borrowing constant and does not count private or Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 66% |
| Average federal loan per year | $6,324 |
| Undergraduates with a federal loan | 366 |
| Total federal loans (one year) | $2,314,563 |
The middle borrower at Carrington College, Spokane owes $8,615 in federal student loans.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $8,615 |
| Students who completed (graduates) | $9,295 |
| Students who withdrew | $5,500 |
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, Spokane.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,500 |
| 25th percentile | $6,130 |
| 75th percentile | $10,724 |
| 90th percentile (highest-debt students) | $13,181 |
How wide this percentile range is tells you how much borrowing varies across students at Carrington College, Spokane.
Median federal debt understates the full cost when PLUS loans are included. The totals below add PLUS borrowing for Carrington College, Spokane.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 78 | $7,083 |
| Completed (graduates) | 59 | $7,365 |
| Did not complete | 19 | $5,720 |
For students who completed, the median total debt including PLUS loans works out to a standard 10-year payment of about $87.58/mo.
The indicators below describe what the typical debt costs to pay back at Carrington College, Spokane.
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, Spokane appears below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 12.0% |
| Borrowers in the cohort | 1424 |
This rate follows a borrower cohort from the start of repayment through the two-year window the Department of Education uses.
Borrowing varies by family income, by first-generation status, and by dependency status.
Borrowing by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $8,844 |
| Middle income | $7,913 |
| High income | $6,313 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $8,549 |
| Continuing-generation students | $8,968 |
Dependent vs Independent Borrowers
| Cohort | Median federal debt |
|---|---|
| Dependent students | $6,313 |
| Independent students | $9,477 |
Federal data publishes the following gap measures for Carrington College, Spokane.
Subsidized vs. 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.
Did You Know?
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.