by our College Data Analytics TeamHere you will find what students actually borrow to attend Elite Academy of Hair Design: median debt, the percentile spread, total borrowing including PLUS loans, and the cost to repay. These figures are reported by the Department of Education and IPEDS.
For incoming students at Elite Academy of Hair Design, 73% of first-year students take on loan debt, at roughly $3,586 per borrower, covering both private and federal loans.
On the federal side, the average loan is $3,586, equal to roughly 65.2% of the $5,500 federal limit that applies to a typical first-year dependent borrower. Keep in mind the all-undergraduate averages further down count federal loans only, unlike this private-plus-federal freshman figure.
Counting every undergraduate at Elite Academy of Hair Design, 71% use federal student loans to help pay for their education, borrowing on average $3,897 annually. It comes to 8.7% higher than the freshman federal average of $3,586.
Repeating that yearly amount projects to about $7,794 after two years and $15,588 over a four-year span. These figures assume identical federal borrowing each year and omit private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 71% |
| Average federal loan per year | $3,897 |
| Undergraduates with a federal loan | 76 |
| Total federal loans (one year) | $296,196 |
Graduating and withdrawing students at Elite Academy of Hair Design carry a median federal debt of $5,500 in federal student loans.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $5,500 |
| Students who completed (graduates) | $6,837 |
The indicators below describe what the typical debt costs to pay back at Elite Academy of Hair Design.
Borrowing varies by family income, by first-generation status, and by dependency status.
Borrowing by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $4,576 |
Subsidized and 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.
Worth Knowing
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.