by our College Data Analytics TeamBelow is federal data on the loans students use to pay for Elite Cosmetology School— 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 Elite Cosmetology School, 82% of incoming undergraduates borrow in year one, borrowing on average $6,918 apiece. This figure includes both private and federally funded student loans.
The average federal loan is $6,918. This reaches or tops the $5,500 first-year federal borrowing cap for a typical dependent student. Remember the all-undergraduate figures below leave out private loans, so they will look lower than this private-plus-federal freshman amount.
Looking at all undergraduates at Elite Cosmetology School, freshmen included, 66% rely on federal student loans toward their education, at an average of $5,599 per year. It comes to 19.1% under the first-year federal average of $6,918.
Borrowing at that rate every year works out to about $11,198 across two years and $22,396 after four. This assumes steady federal borrowing and leaves out private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 66% |
| Average federal loan per year | $5,599 |
| Undergraduates with a federal loan | 138 |
| Total federal loans (one year) | $772,609 |
The median student at Elite Cosmetology School borrows $6,333 of cumulative federal debt.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $6,333 |
| Students who completed (graduates) | $8,164 |
| Students who withdrew | $5,016 |
The figure for students who withdrew is worth watching: debt without a completed credential is the hardest to repay.
The median hides the spread, so the percentiles below show cumulative federal debt at four points in the distribution for Elite Cosmetology School.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $2,905 |
| 25th percentile | $4,750 |
| 75th percentile | $10,556 |
| 90th percentile (highest-debt students) | $15,830 |
The spread between the lowest- and highest-debt deciles summarizes how variable outcomes are at Elite Cosmetology School.
These figures turn the debt totals into a monthly repayment picture for Elite Cosmetology School.
A loan default — failing to keep up with federal student-loan payments — is one of the worst financial outcomes a borrower can face. Two-year cohort default-rate data for Elite Cosmetology School follows.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 0% |
| Borrowers in the cohort | 9 |
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 | $6,333 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $6,012 |
| Independent students | $6,333 |
These pre-calculated indicators summarize the borrowing gaps between cohorts at Elite Cosmetology School.
The Difference Between 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.
Did You Know?
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.