by our College Data Analytics TeamThis page focuses on the debt students take on to attend Fortis College-Richmond: median debt, the percentile spread, total borrowing including PLUS loans, and the cost to repay. All figures come from the U.S. Department of Education and IPEDS.
Looking at the entering class at Fortis College - Richmond, 85% of freshmen borrow to help pay for their first year, borrowing on average $7,854 per student, private and federal loans combined.
On the federal side, the average loan is $7,854. This is at or above the $5,500 first-year federal borrowing cap that applies to the typical dependent freshman. Keep in mind the all-undergraduate averages further down count federal loans only, unlike this private-plus-federal freshman figure.
Looking at all undergraduates at Fortis College - Richmond, freshmen included, 67% take out federal student loans, for a typical $7,347 each per year. This works out to 6.5% under the $7,854 borrowed by freshmen.
Borrowing the same amount each year would add up to roughly $14,694 across two years and $29,388 by the fourth year. These projections assume the same federal borrowing each year and exclude private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 67% |
| Average federal loan per year | $7,347 |
| Undergraduates with a federal loan | 270 |
| Total federal loans (one year) | $1,983,637 |
The median student at Fortis College - Richmond borrows $9,396 in federal borrowing.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $9,396 |
| Students who completed (graduates) | $9,500 |
| Students who withdrew | $6,320 |
Debt carried by students who withdrew is a key risk signal — these borrowers owe money without having earned the credential.
Half of all borrowers fall between the 25th and 75th percentiles shown below for Fortis College - Richmond.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,167 |
| 25th percentile | $5,717 |
| 75th percentile | $10,996 |
| 90th percentile (highest-debt students) | $14,250 |
The spread between the lowest- and highest-debt deciles summarizes how variable outcomes are at Fortis College - Richmond.
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 Fortis College - Richmond.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 236 | $5,421 |
| Completed (graduates) | 121 | $5,950 |
| Did not complete | 115 | $4,806 |
On a standard 10-year plan, the median completing borrower would pay about $70.75/mo.
The split below distinguishes Stafford borrowers from non-Stafford borrowers at Fortis College - Richmond.
Borrowers With a Stafford Loan This Year
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 212 | $5,394 |
| No Stafford loan this year | 24 | $7,973 |
The indicators below describe what the typical debt costs to pay back at Fortis College - Richmond.
A loan default — failing to keep up with federal student-loan payments — is one of the worst financial outcomes a borrower can face. The official Department of Education two-year default rate for Fortis College - Richmond is shown below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 7.0% |
| Borrowers in the cohort | 254 |
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.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $9,262 |
| Middle income | $9,500 |
| High income | $8,466 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $9,340 |
| Continuing-generation students | $9,500 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $6,500 |
| Independent students | $9,500 |
Federal data publishes the following gap measures for Fortis College - Richmond.
Subsidized vs. 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.
Important to Remember
Federal student loans are not discharged in bankruptcy in all but the rarest cases, and the government can withhold part of your income or tax refund if you default.
References
More about our data sources and methodologies.