by our College Data Analytics TeamThis page focuses on the debt students take on to attend Elevate Salon Institute - Chubbuck, including completion-adjusted borrowing and a standard repayment estimate. The data below is drawn directly from federal sources.
At Elevate Salon Institute - Chubbuck specifically, 87% of incoming undergraduates borrow in year one, averaging $7,969 each — a figure that counts both private and federal student loans.
The average federally funded loan is $7,969. This meets or exceeds the $5,500 cap on first-year federal borrowing for the typical dependent freshman. Note that average undergraduate loan amounts shown later do not include private loans — so the full freshman figure above is not directly comparable.
Counting every undergraduate at Elevate Salon Institute - Chubbuck, 61% rely on federal student loans toward their education, with a mean of $7,699 a year. This is 3.4% smaller than the freshman federal average of $7,969.
Borrowing the same amount each year would add up to roughly $15,398 after two years and $30,796 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 | 61% |
| Average federal loan per year | $7,699 |
| Undergraduates with a federal loan | 68 |
| Total federal loans (one year) | $523,552 |
Graduating and withdrawing students at Elevate Salon Institute - Chubbuck carry a median federal debt of $7,055 in federal student loans.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $7,055 |
Repayment burden translates the debt figures into what a borrower actually pays each month. Elevate Salon Institute - Chubbuck.
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 Elevate Salon Institute - Chubbuck is shown below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 9.4% |
| Borrowers in the cohort | 53 |
A lower default rate generally signals that graduates earn enough to manage their loan payments.
Median debt differs by income tier, first-generation status, and whether the student is financially dependent.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $7,528 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $6,076 |
| Independent students | $9,500 |
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.
Did You Know?
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.