by our College Data Analytics TeamHere you will find what students actually borrow to attend Elite College of Cosmetology, including completion-adjusted borrowing and a standard repayment estimate. The data below is drawn directly from federal sources.
Among first-year students at Elite College of Cosmetology, 88% of first-year students take on loan debt, at roughly $4,114 each, across private and federal loan sources.
The average federally funded loan is $4,114, representing 74.8% of the $5,500 first-year federal borrowing limit for a 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.
Counting every undergraduate at Elite College of Cosmetology, 46% take out federal student loans, with a mean of $3,998 annually. That is 2.8% under the $4,114 typical freshmen borrow.
Carrying that yearly figure forward comes to roughly $7,996 in two years and roughly $15,992 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 | 46% |
| Average federal loan per year | $3,998 |
| Undergraduates with a federal loan | 39 |
| Total federal loans (one year) | $155,912 |
The median student at Elite College of Cosmetology borrows $5,500 of cumulative federal debt.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $5,500 |
| Students who completed (graduates) | $5,500 |
Half of all borrowers fall between the 25th and 75th percentiles shown below for Elite College of Cosmetology.
| Percentile | Cumulative Federal Debt |
|---|---|
| 25th percentile | $2,750 |
| 75th percentile | $6,000 |
The indicators below describe what the typical debt costs to pay back at Elite College of Cosmetology.
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 Elite College of Cosmetology follows.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 11.0% |
| Borrowers in the cohort | 23 |
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.
Median Debt by Income Bracket
| Income tier | Median federal debt |
|---|---|
| Low income | $5,475 |
Dependent vs Independent Borrowers
| Cohort | Median federal debt |
|---|---|
| Dependent students | $5,500 |
| Independent students | $5,343 |
These pre-calculated indicators summarize the borrowing gaps between cohorts at Elite College of Cosmetology.
Subsidized and 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.
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.