by our College Data Analytics TeamHere you will find what students actually borrow to attend Hot Springs Beauty College: median debt, the percentile spread, total borrowing including PLUS loans, and the cost to repay. The data below is drawn directly from federal sources.
Looking at the entering class at Hot Springs Beauty College, 72% of incoming students take out a loan to help cover first-year costs, for an average of $8,025 per student, private and federal loans combined.
The typical federal loan comes to $8,025. This reaches or tops the $5,500 first-year federal borrowing cap for a typical dependent student. Bear in mind the undergraduate averages later on cover federal loans only, whereas this freshman total folds in private loans too.
For undergraduates overall at Hot Springs Beauty College, 59% rely on federal student loans toward their education, averaging $7,351 per year. That is 8.4% under the first-year federal average of $8,025.
Carrying that yearly figure forward comes to roughly $14,702 over two years and about $29,404 by the fourth year. These projections assume the same federal borrowing each year and exclude private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 59% |
| Average federal loan per year | $7,351 |
| Undergraduates with a federal loan | 85 |
| Total federal loans (one year) | $624,832 |
The middle borrower at Hot Springs Beauty College owes $8,000 in federal borrowing.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $8,000 |
| Students who completed (graduates) | $9,700 |
| Students who withdrew | $4,750 |
Withdrawn-student debt matters because those borrowers carry the loans without the degree that helps repay them.
Repayment burden translates the debt figures into what a borrower actually pays each month. Hot Springs Beauty College.
A loan default — failing to keep up with federal student-loan payments — is one of the worst financial outcomes a borrower can face. The federal two-year cohort default rate for Hot Springs Beauty College appears below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 15.3% |
| Borrowers in the cohort | 23 |
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.
Dependent vs Independent Borrowers
| Cohort | Median federal debt |
|---|---|
| Dependent students | $6,950 |
| Independent students | $9,500 |
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
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.