by our College Data Analytics TeamThis page focuses on the debt students take on to attend Florida Memorial University: 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.
At Florida Memorial University, 82% of new students use loans toward freshman-year expenses, with a typical loan of $6,857 apiece. This figure includes both private and federally funded student loans.
The average federally funded loan is $6,173. 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.
Across the full undergraduate body at Florida Memorial University (freshmen included), 66% rely on federal student loans toward their education, with a mean of $7,016 in federal loans per year. This is 13.7% higher than the first-year federal average of $6,173.
Carrying that yearly figure forward comes to roughly $14,032 over two years and about $28,064 over four years. These figures assume identical federal borrowing each year and omit private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 66% |
| Average federal loan per year | $7,016 |
| Undergraduates with a federal loan | 857 |
| Total federal loans (one year) | $6,012,414 |
The median student at Florida Memorial University borrows $16,475 in federal borrowing.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $16,475 |
| Students who completed (graduates) | $30,063 |
| Students who withdrew | $11,000 |
The figure for students who withdrew is worth watching: debt without a completed credential is the hardest to repay.
Looking only at the median is misleading — these four percentiles describe the full debt distribution for borrowers at Florida Memorial University.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $4,750 |
| 25th percentile | $6,625 |
| 75th percentile | $37,424 |
| 90th percentile (highest-debt students) | $50,500 |
How wide this percentile range is tells you how much borrowing varies across students at Florida Memorial University.
The figures above count only the students own federal loans. Adding PLUS loans (borrowed by parents or graduate students) gives a fuller picture of total borrowing at Florida Memorial University.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 256 | $12,972 |
| Completed (graduates) | 78 | $16,100 |
| Did not complete | 178 | $12,269 |
Completers face an estimated standard 10-year monthly payment on their PLUS-inclusive debt of roughly $191.45/mo.
These figures turn the debt totals into a monthly repayment picture for Florida Memorial University.
Defaulting means failing to repay a federal student loan, which carries serious credit consequences. The federal two-year cohort default rate for Florida Memorial University is shown below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 19.9% |
| Borrowers in the cohort | 751 |
The cohort default rate tracks borrowers who entered repayment in a given year and defaulted within the two-year measurement window.
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 | $18,500 |
| Middle income | $12,625 |
| High income | $17,250 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $16,700 |
| Continuing-generation students | $13,500 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $16,000 |
| Independent students | $20,000 |
These pre-calculated indicators summarize the borrowing gaps between cohorts at Florida Memorial University.
The Difference Between 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
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.