by our College Data Analytics TeamBelow is federal data on the loans students use to pay for CUNY Borough of Manhattan Community College— how much they borrow, how that debt is spread across the student body, and what it costs to pay back. These figures are reported by the Department of Education and IPEDS.
Looking at the entering class at BMCC, 2% of incoming undergraduates borrow in year one, for an average of $4,429 apiece. This figure includes both private and federally funded student loans.
Federal loans alone average $4,163, equal to roughly 75.7% of the $5,500 cap on first-year federal borrowing for the typical dependent student. 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 BMCC, 4% borrow through federal student loan programs, averaging $5,110 a year. This works out to 22.7% more than the $4,163 typical freshmen borrow.
Borrowing the same amount each year would add up to roughly $10,220 over two years and about $20,440 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 | 4% |
| Average federal loan per year | $5,110 |
| Undergraduates with a federal loan | 758 |
| Total federal loans (one year) | $3,873,454 |
The middle borrower at BMCC owes $5,550 in federal student loans.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $5,550 |
| Students who completed (graduates) | $7,574 |
| Students who withdrew | $5,500 |
The figure for students who withdrew is worth watching: debt without a completed credential is the hardest to repay.
Half of all borrowers fall between the 25th and 75th percentiles shown below for BMCC.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $1,499 |
| 25th percentile | $2,600 |
| 75th percentile | $9,500 |
| 90th percentile (highest-debt students) | $17,043 |
How wide this percentile range is tells you how much borrowing varies across students at BMCC.
PLUS loans — taken out by parents or graduate students — add to the total cost of attendance financed by debt at BMCC.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 776 | $10,383 |
| Completed (graduates) | 196 | $8,644 |
| Did not complete | 580 | $11,000 |
Completers face an estimated standard 10-year monthly payment on their PLUS-inclusive debt of roughly $102.79/mo.
The split below distinguishes Stafford borrowers from non-Stafford borrowers at BMCC.
Any-Stafford Borrowers
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Used a Stafford loan | 747 | $10,500 |
| No Stafford loan | 29 | $7,794 |
Borrowers With a Stafford Loan This Year
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 183 | $13,086 |
| No Stafford loan this year | 593 | $9,575 |
The indicators below describe what the typical debt costs to pay back at BMCC.
The default rate measures how many borrowers fall behind and ultimately fail to repay their federal loans. The official Department of Education two-year default rate for BMCC appears below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 14.1% |
| Borrowers in the cohort | 1649 |
This rate follows a borrower cohort from the start of repayment through the two-year window the Department of Education uses.
Borrowing varies by family income, by first-generation status, and by dependency status.
Borrowing by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $6,000 |
| Middle income | $5,500 |
| High income | $6,024 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $5,700 |
| Continuing-generation students | $5,500 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $5,189 |
| Independent students | $8,067 |
These pre-calculated indicators summarize the borrowing gaps between cohorts at BMCC.
Subsidized vs. 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.