by our College Data Analytics TeamThis page focuses on the debt students take on to attend Graceland University-Lamoni, including completion-adjusted borrowing and a standard repayment estimate. All figures come from the U.S. Department of Education and IPEDS.
For incoming students at Graceland Lamoni, 78% of new students use loans toward freshman-year expenses, borrowing on average $6,524 each, across private and federal loan sources.
The average federally funded loan is $5,497, equal to roughly 99.9% of the $5,500 first-year borrowing cap for the typical first-year dependent student. Remember the all-undergraduate figures below leave out private loans, so they will look lower than this private-plus-federal freshman amount.
Looking at all undergraduates at Graceland Lamoni, freshmen included, 78% borrow through federal student loan programs, with a mean of $7,229 per year. This is 31.5% larger than the $5,497 typical freshmen borrow.
Repeating that yearly amount projects to about $14,458 by year two and around $28,916 over a four-year span. These figures assume identical federal borrowing each year and omit private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 78% |
| Average federal loan per year | $7,229 |
| Undergraduates with a federal loan | 706 |
| Total federal loans (one year) | $5,103,669 |
The median student at Graceland Lamoni borrows $14,209 in federal borrowing.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $14,209 |
| Students who completed (graduates) | $21,212 |
| Students who withdrew | $9,500 |
Withdrawn-student debt matters because those borrowers carry the loans without the degree that helps repay them.
Half of all borrowers fall between the 25th and 75th percentiles shown below for Graceland Lamoni.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $4,750 |
| 25th percentile | $8,250 |
| 75th percentile | $26,000 |
| 90th percentile (highest-debt students) | $32,375 |
How wide this percentile range is tells you how much borrowing varies across students at Graceland Lamoni.
Median federal debt understates the full cost when PLUS loans are included. The totals below add PLUS borrowing for Graceland Lamoni.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 309 | $13,204 |
| Completed (graduates) | 160 | $16,646 |
| Did not complete | 149 | $10,944 |
Completers face an estimated standard 10-year monthly payment on their PLUS-inclusive debt of roughly $197.94/mo.
The split below distinguishes Stafford borrowers from non-Stafford borrowers at Graceland Lamoni.
Borrowers With a Stafford Loan This Year
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 290 | $13,751 |
| No Stafford loan this year | 19 | $8,896 |
Repayment burden translates the debt figures into what a borrower actually pays each month. Graceland Lamoni.
Defaulting means failing to repay a federal student loan, which carries serious credit consequences. Two-year cohort default-rate data for Graceland Lamoni follows.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 7.5% |
| Borrowers in the cohort | 693 |
This rate follows a borrower cohort from the start of repayment through the two-year window the Department of Education uses.
Borrowing varies by family income, by first-generation status, and by dependency status.
Borrowing by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $12,500 |
| Middle income | $14,469 |
| High income | $15,750 |
First-Gen vs Continuing-Gen Borrowing
| Cohort | Median federal debt |
|---|---|
| First-generation students | $13,542 |
| Continuing-generation students | $16,166 |
Dependent vs Independent Borrowers
| Cohort | Median federal debt |
|---|---|
| Dependent students | $14,000 |
| Independent students | $14,620 |
The Department of Education computes gap indicators that show how borrowing differs between student groups at Graceland Lamoni.
The Difference Between Subsidized and Unsubsidized Loans
Subsidized loans pause interest while you are in school; unsubsidized loans do not. That difference compounds over four years, so the type of loan you take matters as much as the amount.
Did You Know?
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.