by our College Data Analytics TeamHere you will find what students actually borrow to attend Gerbers Akron Beauty School— 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 Gerbers Akron Beauty School, 14% of incoming undergraduates borrow in year one, with a typical loan of $3,375 apiece. This figure includes both private and federally funded student loans.
The average federal loan is $3,375, equal to roughly 61.4% of the $5,500 first-year federal borrowing limit for a typical dependent freshman. Bear in mind the undergraduate averages later on cover federal loans only, whereas this freshman total folds in private loans too.
Among all degree-seeking undergrads at Gerbers Akron Beauty School, 14% finance part of their studies with federal loans, with a mean of $3,375 each per year.
Carrying that yearly figure forward comes to roughly $6,750 across two years and $13,500 by the fourth year. This assumes steady federal borrowing and leaves out private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 14% |
| Average federal loan per year | $3,375 |
| Undergraduates with a federal loan | 9 |
| Total federal loans (one year) | $30,376 |
Graduating and withdrawing students at Gerbers Akron Beauty School carry a median federal debt of $3,500 in federal borrowing.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $3,500 |
These figures turn the debt totals into a monthly repayment picture for Gerbers Akron Beauty School.
Defaulting means failing to repay a federal student loan, which carries serious credit consequences. The federal two-year cohort default rate for Gerbers Akron Beauty School follows.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 12.5% |
| Borrowers in the cohort | 10 |
A lower default rate generally signals that graduates earn enough to manage their loan payments.
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
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.