by our College Data Analytics TeamHere you will find what students actually borrow to attend Creative Hair School of Cosmetology: 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 Creative Hair School of Cosmetology, 69% of incoming students take out a loan to help cover first-year costs, borrowing on average $10,151 apiece. This figure includes both private and federally funded student loans.
On the federal side, the average loan is $10,151. This meets or exceeds the $5,500 cap on first-year federal borrowing for the typical dependent freshman. Remember the all-undergraduate figures below leave out private loans, so they will look lower than this private-plus-federal freshman amount.
Among all degree-seeking undergrads at Creative Hair School of Cosmetology, 59% borrow through federal student loan programs, borrowing on average $11,389 annually. It comes to 12.2% more than the $10,151 freshmen take on.
At a steady annual pace, that totals around $22,778 over two years and about $45,556 over four years. These figures assume identical federal borrowing each year and omit private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 59% |
| Average federal loan per year | $11,389 |
| Undergraduates with a federal loan | 45 |
| Total federal loans (one year) | $512,497 |
The middle borrower at Creative Hair School of Cosmetology owes $9,500 of cumulative federal debt.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $9,500 |
| Students who completed (graduates) | $15,406 |
| Students who withdrew | $5,000 |
Withdrawn-student debt matters because those borrowers carry the loans without the degree that helps repay them.
These figures turn the debt totals into a monthly repayment picture for Creative Hair School of Cosmetology.
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.
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.