by our College Data Analytics TeamBelow is federal data on the loans students use to pay for Crevier’s Academy of Cosmetology Arts, including completion-adjusted borrowing and a standard repayment estimate. These figures are reported by the Department of Education and IPEDS.
Among first-year students at Crevier’s Academy of Cosmetology Arts, 45% of new students use loans toward freshman-year expenses, with a typical loan of $6,046 per borrower, covering both private and federal loans.
The average federal loan is $6,046. 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.
Across the full undergraduate body at Crevier’s Academy of Cosmetology Arts (freshmen included), 48% borrow through federal student loan programs, borrowing on average $6,370 per year. This works out to 5.4% above the freshman federal average of $6,046.
Repeating that yearly amount projects to about $12,740 after two years and $25,480 over a four-year span. This projection keeps yearly federal borrowing flat and excludes private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 48% |
| Average federal loan per year | $6,370 |
| Undergraduates with a federal loan | 53 |
| Total federal loans (one year) | $337,609 |
Graduating and withdrawing students at Crevier’s Academy of Cosmetology Arts carry a median federal debt of $8,167 of cumulative federal debt.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $8,167 |
Half of all borrowers fall between the 25th and 75th percentiles shown below for Crevier’s Academy of Cosmetology Arts.
| Percentile | Cumulative Federal Debt |
|---|---|
| 25th percentile | $5,500 |
| 75th percentile | $14,246 |
Repayment burden translates the debt figures into what a borrower actually pays each month. Crevier’s Academy of Cosmetology Arts.
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 Crevier’s Academy of Cosmetology Arts appears below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 5.8% |
| Borrowers in the cohort | 17 |
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.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $7,297 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $5,586 |
| Independent students | $12,069 |
Subsidized vs. 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.
Important to Remember
Federal student loans are not discharged in bankruptcy in all but the rarest cases, and the government can withhold part of your income or tax refund if you default.
References
More about our data sources and methodologies.