by our College Data Analytics TeamHere you will find what students actually borrow to attend E Q School of Hair Design— 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.
At EQ School specifically, 94% of new students use loans toward freshman-year expenses, borrowing on average $8,821 per borrower, covering both private and federal loans.
The average federally funded loan is $8,821. That is at or past the $5,500 federal first-year limit 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 EQ School, 88% borrow through federal student loan programs, borrowing on average $8,066 a year. This is 8.6% less than the freshman federal average of $8,821.
Repeating that yearly amount projects to about $16,132 after two years and $32,264 by the fourth year. These projections assume the same federal borrowing each year and exclude private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 88% |
| Average federal loan per year | $8,066 |
| Undergraduates with a federal loan | 67 |
| Total federal loans (one year) | $540,434 |
The middle borrower at EQ School owes $8,550 of cumulative federal debt.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $8,550 |
| Students who completed (graduates) | $9,425 |
Looking only at the median is misleading — these four percentiles describe the full debt distribution for borrowers at EQ School.
| Percentile | Cumulative Federal Debt |
|---|---|
| 25th percentile | $2,750 |
| 75th percentile | $9,695 |
Repayment burden translates the debt figures into what a borrower actually pays each month. EQ School.
Defaulting means failing to repay a federal student loan, which carries serious credit consequences. Two-year cohort default-rate data for EQ School is shown below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 12.1% |
| Borrowers in the cohort | 41 |
A lower default rate generally signals that graduates earn enough to manage their loan payments.
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.
Worth Knowing
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.