by our College Data Analytics TeamHere you will find what students actually borrow to attend Chowan University— 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 Chowan University, 57% of incoming undergraduates borrow in year one, borrowing on average $8,000 each, across private and federal loan sources.
Federal loans alone average $7,167. This is at or above the $5,500 first-year federal borrowing cap that applies to the typical dependent freshman. Be aware: the undergraduate-wide averages below exclude private loans, while this freshman number includes them.
Looking at all undergraduates at Chowan University, freshmen included, 57% use federal student loans to help pay for their education, averaging $8,380 in federal loans per year. This works out to 16.9% larger than the first-year federal average of $7,167.
Borrowing the same amount each year would add up to roughly $16,760 by year two and around $33,520 after four. The estimate holds federal borrowing constant and does not count private or Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 57% |
| Average federal loan per year | $8,380 |
| Undergraduates with a federal loan | 363 |
| Total federal loans (one year) | $3,041,943 |
The median student at Chowan University borrows $15,250 in federal student loans.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $15,250 |
| Students who completed (graduates) | $29,491 |
| Students who withdrew | $9,500 |
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 Chowan University.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,587 |
| 25th percentile | $5,500 |
| 75th percentile | $27,000 |
| 90th percentile (highest-debt students) | $45,000 |
The gap between the 10th and 90th percentile is the clearest single measure of how widely borrowing varies at Chowan University.
PLUS loans — taken out by parents or graduate students — add to the total cost of attendance financed by debt at Chowan University.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 442 | $15,207 |
| Completed (graduates) | 205 | $27,319 |
| Did not complete | 237 | $11,000 |
On a standard 10-year plan, the median completing borrower would pay about $324.85/mo.
Repayment burden translates the debt figures into what a borrower actually pays each month. Chowan University.
A loan default — failing to keep up with federal student-loan payments — is one of the worst financial outcomes a borrower can face. The official Department of Education two-year default rate for Chowan University follows.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 14.5% |
| Borrowers in the cohort | 455 |
A lower default rate generally signals that graduates earn enough to manage their loan payments.
The breakdowns below show median federal debt by income, first-generation status, and dependency.
Borrowing by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $16,000 |
| Middle income | $15,000 |
| High income | $14,750 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $15,284 |
| Continuing-generation students | $15,000 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $15,000 |
| Independent students | $20,000 |
These pre-calculated indicators summarize the borrowing gaps between cohorts at Chowan University.
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
Declaring bankruptcy does not erase federal student loan debt. If you stop paying, the federal government can garnish a portion of your wages until the loans are repaid.
References
More about our data sources and methodologies.