by our College Data Analytics TeamBelow is federal data on the loans students use to pay for Herkimer County Community College— 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.
At Herkimer College specifically, 49% of new students use loans toward freshman-year expenses, borrowing on average $6,074 each — a figure that counts both private and federal student loans.
The average federally funded loan is $5,323, amounting to 96.8% of the $5,500 first-year federal borrowing limit for a typical dependent freshman. Keep in mind the all-undergraduate averages further down count federal loans only, unlike this private-plus-federal freshman figure.
Looking at all undergraduates at Herkimer College, freshmen included, 45% borrow through federal student loan programs, averaging $5,745 in federal loans per year. This is 7.9% higher than the $5,323 freshmen take on.
Borrowing at that rate every year works out to about $11,490 across two years and $22,980 across a four-year program. These projections assume the same federal borrowing each year and exclude private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 45% |
| Average federal loan per year | $5,745 |
| Undergraduates with a federal loan | 519 |
| Total federal loans (one year) | $2,981,887 |
The median student at Herkimer College borrows $6,500 in federal student loans.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $6,500 |
| Students who completed (graduates) | $11,365 |
| Students who withdrew | $5,500 |
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 Herkimer College.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $2,218 |
| 25th percentile | $3,834 |
| 75th percentile | $12,000 |
| 90th percentile (highest-debt students) | $19,000 |
How wide this percentile range is tells you how much borrowing varies across students at Herkimer College.
Median federal debt understates the full cost when PLUS loans are included. The totals below add PLUS borrowing for Herkimer College.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 249 | $8,875 |
| Completed (graduates) | 60 | $9,711 |
| Did not complete | 189 | $8,650 |
On a standard 10-year plan, the median completing borrower would pay about $115.47/mo.
Federal data lets us separate Stafford borrowers from the rest at Herkimer College.
Stafford This Year vs Not
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 162 | $8,161 |
| No Stafford loan this year | 87 | $15,898 |
These figures turn the debt totals into a monthly repayment picture for Herkimer College.
The default rate measures how many borrowers fall behind and ultimately fail to repay their federal loans. Two-year cohort default-rate data for Herkimer College appears below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 14.1% |
| Borrowers in the cohort | 1313 |
The cohort default rate tracks borrowers who entered repayment in a given year and defaulted within the two-year measurement window.
Borrowing varies by family income, by first-generation status, and by dependency status.
Borrowing by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $6,526 |
| Middle income | $6,440 |
| High income | $6,500 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $6,500 |
| Continuing-generation students | $6,876 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $5,500 |
| Independent students | $8,351 |
These pre-calculated indicators summarize the borrowing gaps between cohorts at Herkimer College.
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
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.