College of St. Mary Magdalen Loan Debt: How Much Debt Do Students Graduate With?

How much debt will I have to take on to pay for College of St. Mary Magdalen, and how easily will I pay it off? Keep scrolling down the page for answers.

Included in This Report:

• Average Loans for Freshman
• Average Undergraduate Loans
• Default Rate at College of St. Mary Magdalen
• Frequently Asked Questions
• Additonal Information

Freshmen At College of St. Mary Magdalen Take Out an Average of $5,985 in Loans in Their First Year

At College of St. Mary Magdalen, 67.0% of incoming students take out a loan to help defray freshman year costs, averaging $5,985 a piece. This amount includes both private and federally-funded student loans.

The average federal loan is $5,985, which is 108.8% of the first-year borrowing cap of $5,500* for the typical first-year dependent student.

The Average Loan Amount for All Undergrads at College of St. Mary Magdalen is $7,873 Per Year.

61.0% of all undergraduate students (including freshmen) at College of St. Mary Magdalen utilize federal student loans to help pay for their college education, averaging $7,873 per year. This amount is 31.5% higher than the $5,985 amount borrowed by freshmen. The fact that returning students borrow more than freshmen could indicate that the school front-loads financial aid packages, offering more aid to new students while expecting returning students to take on larger loans to continue their education.

Borrowing the average amount will result in loans of $15,746 after two years and $31,492 after four.

These numbers are based on borrowing the same amount each year and do not include any loans where the parent is the borrower, even though Parent PLUS loans are frequently included in financial aid packages.

Were you surprised by how much you are projected to owe by the time you graduate? Remember this is an average: some students will borrow more than this.

Is the debt worth it? Research return on investment.

The Default Rate on Student Loans is Unavailable

We were planning to provide you with the loan default rate at College of St. Mary Magdalen and compare it to the national average of 7.3%, but unfortunately, that information is not available to us.