by our College Data Analytics TeamThis page focuses on the debt students take on to attend Galen Health Institutes-Myrtle Beach— how much they borrow, how that debt is spread across the student body, and what it costs to pay back. The data below is drawn directly from federal sources.
For incoming students at Galen Health Institutes-Myrtle Beach, 89% of new students use loans toward freshman-year expenses, averaging $17,807 per borrower, covering both private and federal loans.
The average federally funded loan is $8,915. 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.
Among all degree-seeking undergrads at Galen Health Institutes-Myrtle Beach, 79% use federal student loans to help pay for their education, averaging $9,016 per year. That amounts to 1.1% higher than the freshman federal average of $8,915.
Carrying that yearly figure forward comes to roughly $18,032 in two years and roughly $36,064 over a four-year span. This projection keeps yearly federal borrowing flat and excludes private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 79% |
| Average federal loan per year | $9,016 |
| Undergraduates with a federal loan | 494 |
| Total federal loans (one year) | $4,453,866 |
Graduating and withdrawing students at Galen Health Institutes-Myrtle Beach carry a median federal debt of $16,500 in federal borrowing.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $16,500 |
| Students who completed (graduates) | $24,166 |
| Students who withdrew | $9,500 |
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 Galen Health Institutes-Myrtle Beach.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,167 |
| 25th percentile | $6,334 |
| 75th percentile | $24,166 |
| 90th percentile (highest-debt students) | $33,943 |
How wide this percentile range is tells you how much borrowing varies across students at Galen Health Institutes-Myrtle Beach.
PLUS loans — taken out by parents or graduate students — add to the total cost of attendance financed by debt at Galen Health Institutes-Myrtle Beach.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 1210 | $10,814 |
| Completed (graduates) | 690 | $11,219 |
| Did not complete | 520 | $10,444 |
For students who completed, the median total debt including PLUS loans works out to a standard 10-year payment of about $133.41/mo.
The split below distinguishes Stafford borrowers from non-Stafford borrowers at Galen Health Institutes-Myrtle Beach.
Any-Stafford Borrowers
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Used a Stafford loan | 1197 | — |
| No Stafford loan | 13 | — |
Stafford This Year vs Not
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 1127 | $10,969 |
| No Stafford loan this year | 83 | $9,600 |
Repayment burden translates the debt figures into what a borrower actually pays each month. Galen Health Institutes-Myrtle Beach.
Defaulting means failing to repay a federal student loan, which carries serious credit consequences. Two-year cohort default-rate data for Galen Health Institutes-Myrtle Beach follows.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 7.6% |
| Borrowers in the cohort | 1677 |
This rate follows a borrower cohort from the start of repayment through the two-year window the Department of Education uses.
The breakdowns below show median federal debt by income, first-generation status, and dependency.
Borrowing by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $16,190 |
| Middle income | $17,444 |
| High income | $16,166 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $16,500 |
| Continuing-generation students | $16,834 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $12,786 |
| Independent students | $18,832 |
The Department of Education computes gap indicators that show how borrowing differs between student groups at Galen Health Institutes-Myrtle Beach.
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.