by our College Data Analytics TeamHere you will find what students actually borrow to attend Great Lakes Institute of Technology— how much they borrow, how that debt is spread across the student body, and what it costs to pay back. All figures come from the U.S. Department of Education and IPEDS.
Looking at the entering class at Great Lakes Institute of Technology, 74% of incoming undergraduates borrow in year one, for an average of $7,789 per borrower, covering both private and federal loans.
The average federally funded loan is $6,461. That sits at or beyond the $5,500 first-year federal limit for a typical dependent student. Note that average undergraduate loan amounts shown later do not include private loans — so the full freshman figure above is not directly comparable.
Counting every undergraduate at Great Lakes Institute of Technology, 74% use federal student loans to help pay for their education, with a mean of $6,485 each per year. This works out to 0.4% greater than the first-year federal average of $6,461.
Borrowing at that rate every year works out to about $12,970 by year two and around $25,940 over four years. This assumes steady federal borrowing and leaves out private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 74% |
| Average federal loan per year | $6,485 |
| Undergraduates with a federal loan | 300 |
| Total federal loans (one year) | $1,945,397 |
Graduating and withdrawing students at Great Lakes Institute of Technology carry a median federal debt of $9,014 of cumulative federal debt.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $9,014 |
| Students who completed (graduates) | $11,250 |
| Students who withdrew | $4,595 |
Debt carried by students who withdrew is a key risk signal — these borrowers owe money without having earned the credential.
The median hides the spread, so the percentiles below show cumulative federal debt at four points in the distribution for Great Lakes Institute of Technology.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,500 |
| 25th percentile | $6,439 |
| 75th percentile | $13,399 |
| 90th percentile (highest-debt students) | $18,829 |
The gap between the 10th and 90th percentile is the clearest single measure of how widely borrowing varies at Great Lakes Institute of Technology.
The figures above count only the students own federal loans. Adding PLUS loans (borrowed by parents or graduate students) gives a fuller picture of total borrowing at Great Lakes Institute of Technology.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 126 | $6,388 |
| Completed (graduates) | 82 | $6,784 |
| Did not complete | 44 | $5,094 |
Completers face an estimated standard 10-year monthly payment on their PLUS-inclusive debt of roughly $80.67/mo.
Stafford loans are the federal direct-loan program most undergraduates use. The breakdown below separates borrowers who used Stafford loans from those who did not at Great Lakes Institute of Technology.
Stafford This Year vs Not
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 112 | — |
| No Stafford loan this year | 14 | — |
These figures turn the debt totals into a monthly repayment picture for Great Lakes Institute of Technology.
The default rate measures how many borrowers fall behind and ultimately fail to repay their federal loans. Two-year cohort default-rate data for Great Lakes Institute of Technology is shown below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 18.8% |
| Borrowers in the cohort | 573 |
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.
Median Debt by Income Bracket
| Income tier | Median federal debt |
|---|---|
| Low income | $9,500 |
| Middle income | $7,928 |
| High income | $7,929 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $9,009 |
| Continuing-generation students | $9,168 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $7,667 |
| Independent students | $10,398 |
These pre-calculated indicators summarize the borrowing gaps between cohorts at Great Lakes Institute of Technology.
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.
Important to Remember
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.