by our College Data Analytics TeamBelow is federal data on the loans students use to pay for Gannon University, including completion-adjusted borrowing and a standard repayment estimate. These figures are reported by the Department of Education and IPEDS.
For incoming students at Gannon, 79% of incoming undergraduates borrow in year one, for an average of $9,529 per student, private and federal loans combined.
The average federally funded loan is $5,684. This is at or above the $5,500 first-year federal borrowing cap that applies to the typical dependent freshman. Bear in mind the undergraduate averages later on cover federal loans only, whereas this freshman total folds in private loans too.
For undergraduates overall at Gannon, 76% take out federal student loans, for a typical $6,741 per year. That is 18.6% above the $5,684 borrowed by freshmen.
Carrying that yearly figure forward comes to roughly $13,482 over two years and about $26,964 across a four-year program. This projection keeps yearly federal borrowing flat and excludes private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 76% |
| Average federal loan per year | $6,741 |
| Undergraduates with a federal loan | 1,878 |
| Total federal loans (one year) | $12,660,414 |
Graduating and withdrawing students at Gannon carry a median federal debt of $23,031 of cumulative federal debt.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $23,031 |
| Students who completed (graduates) | $27,000 |
| Students who withdrew | $10,500 |
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 Gannon.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $5,500 |
| 25th percentile | $9,870 |
| 75th percentile | $27,000 |
| 90th percentile (highest-debt students) | $37,250 |
The gap between the 10th and 90th percentile is the clearest single measure of how widely borrowing varies at Gannon.
Median federal debt understates the full cost when PLUS loans are included. The totals below add PLUS borrowing for Gannon.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 485 | $27,000 |
| Completed (graduates) | 302 | $34,648 |
| Did not complete | 183 | $18,574 |
On a standard 10-year plan, the median completing borrower would pay about $412.0/mo.
The split below distinguishes Stafford borrowers from non-Stafford borrowers at Gannon.
Stafford This Year vs Not
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 429 | $30,494 |
| No Stafford loan this year | 56 | $11,470 |
The indicators below describe what the typical debt costs to pay back at Gannon.
Defaulting means failing to repay a federal student loan, which carries serious credit consequences. The official Department of Education two-year default rate for Gannon follows.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 5.2% |
| Borrowers in the cohort | 1014 |
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 | $19,500 |
| Middle income | $22,906 |
| High income | $24,187 |
First-Gen vs Continuing-Gen Borrowing
| Cohort | Median federal debt |
|---|---|
| First-generation students | $22,324 |
| Continuing-generation students | $23,250 |
Dependent vs Independent Borrowers
| Cohort | Median federal debt |
|---|---|
| Dependent students | $23,250 |
| Independent students | $12,500 |
These pre-calculated indicators summarize the borrowing gaps between cohorts at Gannon.
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.
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.