by our College Data Analytics TeamThis page focuses on the debt students take on to attend Cleveland Institute of Music— 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.
At Cleveland Institute of Music, 40% of freshmen borrow to help pay for their first year, with a typical loan of $6,618 per student, private and federal loans combined.
The typical federal loan comes to $5,147, which is 93.6% of the $5,500 first-year borrowing cap for the typical first-year dependent student. Note that average undergraduate loan amounts shown later do not include private loans — so the full freshman figure above is not directly comparable.
Counting every undergraduate at Cleveland Institute of Music, 32% borrow through federal student loan programs, at an average of $5,929 a year. That is 15.2% more than the $5,147 borrowed by freshmen.
Borrowing at that rate every year works out to about $11,858 by year two and around $23,716 by the fourth year. This projection keeps yearly federal borrowing flat and excludes private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 32% |
| Average federal loan per year | $5,929 |
| Undergraduates with a federal loan | 64 |
| Total federal loans (one year) | $379,426 |
Graduating and withdrawing students at Cleveland Institute of Music carry a median federal debt of $18,500 in federal borrowing.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $18,500 |
| Students who completed (graduates) | $24,968 |
| Students who withdrew | $9,125 |
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 Cleveland Institute of Music.
| Percentile | Cumulative Federal Debt |
|---|---|
| 25th percentile | $14,000 |
| 75th percentile | $34,500 |
PLUS loans — taken out by parents or graduate students — add to the total cost of attendance financed by debt at Cleveland Institute of Music.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 30 | $47,117 |
Repayment burden translates the debt figures into what a borrower actually pays each month. Cleveland Institute of Music.
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 Cleveland Institute of Music is shown below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 2.2% |
| Borrowers in the cohort | 90 |
The cohort default rate tracks borrowers who entered repayment in a given year and defaulted within the two-year measurement window.
Borrowing varies by family income, by first-generation status, and by dependency status.
Median Debt by Income Bracket
| Income tier | Median federal debt |
|---|---|
| High income | $13,087 |
The Department of Education computes gap indicators that show how borrowing differs between student groups at Cleveland Institute of Music.
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.
Did You Know?
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.