by our College Data Analytics TeamBelow is federal data on the loans students use to pay for Frank Phillips College, including completion-adjusted borrowing and a standard repayment estimate. All figures come from the U.S. Department of Education and IPEDS.
For incoming students at FPC, 3% of incoming students take out a loan to help cover first-year costs, for an average of $8,563 per student, private and federal loans combined.
Federal loans alone average $8,563. 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.
For undergraduates overall at FPC, 10% take out federal student loans, for a typical $5,205 a year. This is 39.2% smaller than the $8,563 typical freshmen borrow.
Borrowing at that rate every year works out to about $10,410 across two years and $20,820 over a four-year span. These projections assume the same federal borrowing each year and exclude private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 10% |
| Average federal loan per year | $5,205 |
| Undergraduates with a federal loan | 73 |
| Total federal loans (one year) | $379,942 |
Graduating and withdrawing students at FPC carry a median federal debt of $5,500 in federal borrowing.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $5,500 |
| Students who completed (graduates) | $9,500 |
| Students who withdrew | $5,106 |
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 FPC.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $1,300 |
| 25th percentile | $2,750 |
| 75th percentile | $10,500 |
| 90th percentile (highest-debt students) | $18,662 |
The spread between the lowest- and highest-debt deciles summarizes how variable outcomes are at FPC.
These figures turn the debt totals into a monthly repayment picture for FPC.
A loan default — failing to keep up with federal student-loan payments — is one of the worst financial outcomes a borrower can face. The federal two-year cohort default rate for FPC appears below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 25.8% |
| Borrowers in the cohort | 240 |
The cohort default rate tracks borrowers who entered repayment in a given year and defaulted within the two-year measurement window.
Borrowing varies by family income, by first-generation status, and by dependency status.
Borrowing by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $6,653 |
| Middle income | $5,782 |
| High income | $5,250 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $5,500 |
| Continuing-generation students | $9,500 |
Dependent vs Independent Borrowers
| Cohort | Median federal debt |
|---|---|
| Dependent students | $5,257 |
| Independent students | $9,500 |
Federal data publishes the following gap measures for FPC.
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.
Important to Remember
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.