by our College Data Analytics TeamHere you will find what students actually borrow to attend College of Lake County: median debt, the percentile spread, total borrowing including PLUS loans, and the cost to repay. These figures are reported by the Department of Education and IPEDS.
Among first-year students at College of Lake County, 3% of incoming undergraduates borrow in year one, for an average of $5,256 apiece. This figure includes both private and federally funded student loans.
The average federal loan is $4,721, or about 85.8% of the $5,500 cap on first-year federal borrowing for the typical dependent student. Bear in mind the undergraduate averages later on cover federal loans only, whereas this freshman total folds in private loans too.
Across the full undergraduate body at College of Lake County (freshmen included), 3% rely on federal student loans toward their education, for a typical $5,496 per year. It comes to 16.4% above the $4,721 typical freshmen borrow.
Carrying that yearly figure forward comes to roughly $10,992 in two years and roughly $21,984 over four years. This assumes steady federal borrowing and leaves out private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 3% |
| Average federal loan per year | $5,496 |
| Undergraduates with a federal loan | 244 |
| Total federal loans (one year) | $1,340,950 |
The middle borrower at College of Lake County owes $5,376 in federal borrowing.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $5,376 |
| Students who completed (graduates) | $8,735 |
| Students who withdrew | $4,545 |
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 College of Lake County.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $1,312 |
| 25th percentile | $2,250 |
| 75th percentile | $7,316 |
| 90th percentile (highest-debt students) | $12,147 |
The spread between the lowest- and highest-debt deciles summarizes how variable outcomes are at College of Lake County.
PLUS loans — taken out by parents or graduate students — add to the total cost of attendance financed by debt at College of Lake County.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 1476 | $21,131 |
| Completed (graduates) | 206 | $16,964 |
| Did not complete | 1270 | $22,242 |
For students who completed, the median total debt including PLUS loans works out to a standard 10-year payment of about $201.72/mo.
Federal data lets us separate Stafford borrowers from the rest at College of Lake County.
Stafford vs Non-Stafford (any year)
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Used a Stafford loan | 1402 | $21,833 |
| No Stafford loan | 74 | $14,137 |
Stafford This Year vs Not
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 95 | $15,000 |
| No Stafford loan this year | 1381 | $22,073 |
These figures turn the debt totals into a monthly repayment picture for College of Lake County.
The default rate measures how many borrowers fall behind and ultimately fail to repay their federal loans. The federal two-year cohort default rate for College of Lake County appears below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 11.6% |
| Borrowers in the cohort | 496 |
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 | $6,098 |
| Middle income | $4,920 |
| High income | $5,000 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $5,500 |
| Continuing-generation students | $5,000 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $4,550 |
| Independent students | $7,000 |
These pre-calculated indicators summarize the borrowing gaps between cohorts at College of Lake County.
The Difference Between Subsidized and Unsubsidized Loans
With an unsubsidized loan, interest starts adding up the day the loan is disbursed, including during school. Subsidized loans, by contrast, do not accrue interest while you are enrolled at least half-time, which makes them the less expensive option when you qualify.
Important to Remember
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.