by our College Data Analytics TeamBelow is federal data on the loans students use to pay for Friends University— 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 Friends University specifically, 72% of freshmen borrow to help pay for their first year, averaging $8,082 apiece. This figure includes both private and federally funded student loans.
The average federally funded loan is $5,801. That is at or past the $5,500 federal first-year limit for the typical dependent freshman. Note that average undergraduate loan amounts shown later do not include private loans — so the full freshman figure above is not directly comparable.
For undergraduates overall at Friends University, 83% take out federal student loans, at an average of $7,373 per year. It comes to 27.1% more than the first-year federal average of $5,801.
Carrying that yearly figure forward comes to roughly $14,746 by year two and around $29,492 over four years. These projections assume the same federal borrowing each year and exclude private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 83% |
| Average federal loan per year | $7,373 |
| Undergraduates with a federal loan | 845 |
| Total federal loans (one year) | $6,230,168 |
The median student at Friends University borrows $17,413 in federal student loans.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $17,413 |
| Students who completed (graduates) | $25,000 |
| Students who withdrew | $10,798 |
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 Friends University.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $4,704 |
| 25th percentile | $8,250 |
| 75th percentile | $29,000 |
| 90th percentile (highest-debt students) | $39,750 |
How wide this percentile range is tells you how much borrowing varies across students at Friends University.
Median federal debt understates the full cost when PLUS loans are included. The totals below add PLUS borrowing for Friends University.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 203 | $12,000 |
| Completed (graduates) | 103 | $15,000 |
| Did not complete | 100 | $11,115 |
Completers face an estimated standard 10-year monthly payment on their PLUS-inclusive debt of roughly $178.37/mo.
Stafford loans are the federal direct-loan program most undergraduates use. The breakdown below separates borrowers who used Stafford loans from those who did not at Friends University.
Current-Year Stafford Borrowers
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 179 | $12,500 |
| No Stafford loan this year | 24 | $10,132 |
Repayment burden translates the debt figures into what a borrower actually pays each month. Friends University.
Defaulting means failing to repay a federal student loan, which carries serious credit consequences. The federal two-year cohort default rate for Friends University follows.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 6.1% |
| Borrowers in the cohort | 1208 |
The cohort default rate tracks borrowers who entered repayment in a given year and defaulted within the two-year measurement window.
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 | $16,750 |
| Middle income | $18,375 |
| High income | $16,000 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $18,138 |
| Continuing-generation students | $14,000 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $15,075 |
| Independent students | $21,000 |
The Department of Education computes gap indicators that show how borrowing differs between student groups at Friends University.
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.
Did You Know?
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.