by our College Data Analytics TeamHere you will find what students actually borrow to attend Elite Welding Academy South Point— 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 Welding Academy South Point specifically, 71% of freshmen borrow to help pay for their first year, at roughly $7,104 each, across private and federal loan sources.
Federal loans alone average $7,104. That sits at or beyond the $5,500 first-year federal limit for a typical dependent student. Keep in mind the all-undergraduate averages further down count federal loans only, unlike this private-plus-federal freshman figure.
For undergraduates overall at Elite Welding Academy South Point, 43% finance part of their studies with federal loans, averaging $7,835 a year. This works out to 10.3% above the $7,104 borrowed by freshmen.
Borrowing the same amount each year would add up to roughly $15,670 by year two and around $31,340 across a four-year program. These figures assume identical federal borrowing each year and omit private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 43% |
| Average federal loan per year | $7,835 |
| Undergraduates with a federal loan | 12 |
| Total federal loans (one year) | $94,020 |
The middle borrower at Elite Welding Academy South Point owes $5,500 of cumulative federal debt.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $5,500 |
| Students who completed (graduates) | $9,483 |
| Students who withdrew | $2,750 |
Withdrawn-student debt matters because those borrowers carry the loans without the degree that helps repay them.
Half of all borrowers fall between the 25th and 75th percentiles shown below for Elite Welding Academy South Point.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $5,194 |
| 25th percentile | $5,500 |
| 75th percentile | $9,500 |
| 90th percentile (highest-debt students) | $9,500 |
How wide this percentile range is tells you how much borrowing varies across students at Elite Welding Academy South Point.
Median federal debt understates the full cost when PLUS loans are included. The totals below add PLUS borrowing for Elite Welding Academy South Point.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 24 | $7,101 |
The indicators below describe what the typical debt costs to pay back at Elite Welding Academy South Point.
The breakdowns below show median federal debt by income, first-generation status, and dependency.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $9,483 |
| Middle income | $9,042 |
| High income | $5,500 |
First-Gen vs Continuing-Gen Borrowing
| Cohort | Median federal debt |
|---|---|
| First-generation students | $5,500 |
| Continuing-generation students | $5,500 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $5,500 |
| Independent students | $9,500 |
These pre-calculated indicators summarize the borrowing gaps between cohorts at Elite Welding Academy South Point.
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.
Worth Knowing
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.