by our College Data Analytics TeamThis page focuses on the debt students take on to attend Franklin College: median debt, the percentile spread, total borrowing including PLUS loans, and the cost to repay. The data below is drawn directly from federal sources.
Among first-year students at Franklin College of Indiana, 65% of incoming undergraduates borrow in year one, with a typical loan of $7,049 apiece. This figure includes both private and federally funded student loans.
Federal loans alone average $5,238, which is 95.2% of the $5,500 federal limit that applies to a typical first-year dependent borrower. Keep in mind the all-undergraduate averages further down count federal loans only, unlike this private-plus-federal freshman figure.
Among all degree-seeking undergrads at Franklin College of Indiana, 57% take out federal student loans, for a typical $6,349 per year. That is 21.2% above the $5,238 borrowed by freshmen.
Carrying that yearly figure forward comes to roughly $12,698 over two years and about $25,396 over a four-year span. This assumes steady federal borrowing and leaves out private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 57% |
| Average federal loan per year | $6,349 |
| Undergraduates with a federal loan | 494 |
| Total federal loans (one year) | $3,136,643 |
The median student at Franklin College of Indiana borrows $18,998 of cumulative federal debt.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $18,998 |
| Students who completed (graduates) | $27,000 |
| Students who withdrew | $5,500 |
The figure for students who withdrew is worth watching: debt without a completed credential is the hardest to repay.
Half of all borrowers fall between the 25th and 75th percentiles shown below for Franklin College of Indiana.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,750 |
| 25th percentile | $7,500 |
| 75th percentile | $27,000 |
| 90th percentile (highest-debt students) | $38,000 |
The spread between the lowest- and highest-debt deciles summarizes how variable outcomes are at Franklin College of Indiana.
Median federal debt understates the full cost when PLUS loans are included. The totals below add PLUS borrowing for Franklin College of Indiana.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 166 | $24,100 |
| Completed (graduates) | 102 | $40,380 |
| Did not complete | 64 | $12,207 |
On a standard 10-year plan, the median completing borrower would pay about $480.16/mo.
These figures turn the debt totals into a monthly repayment picture for Franklin College of Indiana.
Defaulting means failing to repay a federal student loan, which carries serious credit consequences. Two-year cohort default-rate data for Franklin College of Indiana follows.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 2.1% |
| Borrowers in the cohort | 284 |
A lower default rate generally signals that graduates earn enough to manage their loan payments.
The breakdowns below show median federal debt by income, first-generation status, and dependency.
Median Debt by Income Bracket
| Income tier | Median federal debt |
|---|---|
| Low income | $12,000 |
| Middle income | $19,000 |
| High income | $19,500 |
First-Gen vs Continuing-Gen Borrowing
| Cohort | Median federal debt |
|---|---|
| First-generation students | $17,000 |
| Continuing-generation students | $19,500 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $19,000 |
| Independent students | $12,500 |
The Department of Education computes gap indicators that show how borrowing differs between student groups at Franklin College of Indiana.
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
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.