by our College Data Analytics TeamHere you will find what students actually borrow to attend Grace College and Theological Seminary: 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 Grace College, 66% of freshmen borrow to help pay for their first year, averaging $7,934 per student, private and federal loans combined.
On the federal side, the average loan is $5,160, amounting to 93.8% of the $5,500 first-year borrowing cap for the typical first-year dependent student. Keep in mind the all-undergraduate averages further down count federal loans only, unlike this private-plus-federal freshman figure.
Across the full undergraduate body at Grace College (freshmen included), 58% borrow through federal student loan programs, borrowing on average $6,246 in federal loans per year. This works out to 21.0% more than the $5,160 freshmen take on.
Borrowing the same amount each year would add up to roughly $12,492 in two years and roughly $24,984 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 | 58% |
| Average federal loan per year | $6,246 |
| Undergraduates with a federal loan | 880 |
| Total federal loans (one year) | $5,496,780 |
The middle borrower at Grace College owes $16,750 in federal student loans.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $16,750 |
| Students who completed (graduates) | $19,500 |
| Students who withdrew | $7,500 |
Debt carried by students who withdrew is a key risk signal — these borrowers owe money without having earned the credential.
Half of all borrowers fall between the 25th and 75th percentiles shown below for Grace College.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $4,021 |
| 25th percentile | $9,000 |
| 75th percentile | $25,994 |
| 90th percentile (highest-debt students) | $31,900 |
How wide this percentile range is tells you how much borrowing varies across students at Grace College.
Median federal debt understates the full cost when PLUS loans are included. The totals below add PLUS borrowing for Grace College.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 272 | $19,967 |
| Completed (graduates) | 160 | $31,412 |
| Did not complete | 112 | $12,544 |
On a standard 10-year plan, the median completing borrower would pay about $373.52/mo.
The split below distinguishes Stafford borrowers from non-Stafford borrowers at Grace College.
Stafford This Year vs Not
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 254 | — |
| No Stafford loan this year | 18 | — |
Repayment burden translates the debt figures into what a borrower actually pays each month. Grace College.
Defaulting means failing to repay a federal student loan, which carries serious credit consequences. The federal two-year cohort default rate for Grace College is shown below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 2.3% |
| Borrowers in the cohort | 346 |
A lower default rate generally signals that graduates earn enough to manage their loan payments.
Borrowing varies by family income, by first-generation status, and by dependency status.
Borrowing by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $16,750 |
| Middle income | $16,000 |
| High income | $16,750 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $16,750 |
| Continuing-generation students | $16,500 |
Dependent vs Independent Borrowers
| Cohort | Median federal debt |
|---|---|
| Dependent students | $16,740 |
| Independent students | $17,044 |
The Department of Education computes gap indicators that show how borrowing differs between student groups at Grace College.
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.
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.