by our College Data Analytics TeamBelow is federal data on the loans students use to pay for EINE Inc— how much they borrow, how that debt is spread across the student body, and what it costs to pay back. All figures come from the U.S. Department of Education and IPEDS.
For incoming students at Electrology Institute of New England, 75% of new students use loans toward freshman-year expenses, at roughly $7,259 per borrower, covering both private and federal loans.
The typical federal loan comes to $7,259. That is at or past the $5,500 federal first-year limit for the typical dependent freshman. Keep in mind the all-undergraduate averages further down count federal loans only, unlike this private-plus-federal freshman figure.
Looking at all undergraduates at Electrology Institute of New England, freshmen included, 36% use federal student loans to help pay for their education, averaging $4,744 in federal loans per year. It comes to 34.6% smaller than the freshman federal average of $7,259.
Carrying that yearly figure forward comes to roughly $9,488 by year two and around $18,976 over four years. These projections assume the same federal borrowing each year and exclude private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 36% |
| Average federal loan per year | $4,744 |
| Undergraduates with a federal loan | 28 |
| Total federal loans (one year) | $132,830 |
The middle borrower at Electrology Institute of New England owes $9,500 in federal student loans.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $9,500 |
These figures turn the debt totals into a monthly repayment picture for Electrology Institute of New England.
A loan default — failing to keep up with federal student-loan payments — is one of the worst financial outcomes a borrower can face. The official Department of Education two-year default rate for Electrology Institute of New England follows.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 4.0% |
| Borrowers in the cohort | 21 |
This rate follows a borrower cohort from the start of repayment through the two-year window the Department of Education uses.
The Difference Between 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
Unlike most other debt, federal student loans generally survive bankruptcy — and unpaid balances can lead to wage garnishment — so borrow only what you truly need.
References
More about our data sources and methodologies.