by our College Data Analytics TeamBelow is federal data on the loans students use to pay for Central Michigan University: median debt, the percentile spread, total borrowing including PLUS loans, and the cost to repay. All figures come from the U.S. Department of Education and IPEDS.
Looking at the entering class at Central Michigan, 77% of new students use loans toward freshman-year expenses, for an average of $6,760 apiece. This figure includes both private and federally funded student loans.
The average federal loan is $5,322, equal to roughly 96.8% of the typical first-year dependent student borrowing cap of $5,500. Be aware: the undergraduate-wide averages below exclude private loans, while this freshman number includes them.
Looking at all undergraduates at Central Michigan, freshmen included, 70% rely on federal student loans toward their education, with a mean of $7,211 annually. That is 35.5% larger than the $5,322 borrowed by freshmen.
Borrowing the same amount each year would add up to roughly $14,422 in two years and roughly $28,844 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 | 70% |
| Average federal loan per year | $7,211 |
| Undergraduates with a federal loan | 6,903 |
| Total federal loans (one year) | $49,777,930 |
The median student at Central Michigan borrows $23,183 of cumulative federal debt.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $23,183 |
| Students who completed (graduates) | $27,000 |
| Students who withdrew | $11,525 |
Withdrawn-student debt matters because those borrowers carry the loans without the degree that helps repay them.
Half of all borrowers fall between the 25th and 75th percentiles shown below for Central Michigan.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $4,750 |
| 25th percentile | $9,326 |
| 75th percentile | $31,000 |
| 90th percentile (highest-debt students) | $40,188 |
The spread between the lowest- and highest-debt deciles summarizes how variable outcomes are at Central Michigan.
Median federal debt understates the full cost when PLUS loans are included. The totals below add PLUS borrowing for Central Michigan.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 3703 | $18,302 |
| Completed (graduates) | 2572 | $23,103 |
| Did not complete | 1131 | $13,389 |
For students who completed, the median total debt including PLUS loans works out to a standard 10-year payment of about $274.72/mo.
Federal data lets us separate Stafford borrowers from the rest at Central Michigan.
Stafford vs Non-Stafford (any year)
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Used a Stafford loan | 3658 | $18,594 |
| No Stafford loan | 45 | $7,696 |
Borrowers With a Stafford Loan This Year
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 3375 | $19,000 |
| No Stafford loan this year | 328 | $14,000 |
The indicators below describe what the typical debt costs to pay back at Central Michigan.
A loan default — failing to keep up with federal student-loan payments — is one of the worst financial outcomes a borrower can face. The federal two-year cohort default rate for Central Michigan is shown below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 5.0% |
| Borrowers in the cohort | 5923 |
A lower default rate generally signals that graduates earn enough to manage their loan payments.
Borrowing varies by family income, by first-generation status, and by dependency status.
Borrowing by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $23,376 |
| Middle income | $23,500 |
| High income | $22,500 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $23,250 |
| Continuing-generation students | $22,330 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $23,250 |
| Independent students | $20,650 |
The Department of Education computes gap indicators that show how borrowing differs between student groups at Central Michigan.
The Difference Between Subsidized and 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.
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.