by our College Data Analytics TeamThis page focuses on the debt students take on to attend Howard Payne University, including completion-adjusted borrowing and a standard repayment estimate. These figures are reported by the Department of Education and IPEDS.
Looking at the entering class at Howard Payne, 79% of incoming undergraduates borrow in year one, at roughly $10,098 each, across private and federal loan sources.
The average federally funded loan is $7,530. 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 Howard Payne, 74% borrow through federal student loan programs, averaging $9,521 per year. This is 26.4% greater than the $7,530 borrowed by freshmen.
Borrowing at that rate every year works out to about $19,042 in two years and roughly $38,084 after four. These figures assume identical federal borrowing each year and omit private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 74% |
| Average federal loan per year | $9,521 |
| Undergraduates with a federal loan | 532 |
| Total federal loans (one year) | $5,065,430 |
The median student at Howard Payne borrows $11,892 of cumulative federal debt.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $11,892 |
| Students who completed (graduates) | $26,793 |
| Students who withdrew | $5,500 |
Withdrawn-student debt matters because those borrowers carry the loans without the degree that helps repay them.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 Howard Payne.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $2,750 |
| 25th percentile | $5,500 |
| 75th percentile | $23,500 |
| 90th percentile (highest-debt students) | $33,000 |
How wide this percentile range is tells you how much borrowing varies across students at Howard Payne.
PLUS loans — taken out by parents or graduate students — add to the total cost of attendance financed by debt at Howard Payne.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 201 | $12,699 |
| Completed (graduates) | 90 | $21,127 |
| Did not complete | 111 | $10,500 |
On a standard 10-year plan, the median completing borrower would pay about $251.22/mo.
The split below distinguishes Stafford borrowers from non-Stafford borrowers at Howard Payne.
Stafford This Year vs Not
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 190 | — |
| No Stafford loan this year | 11 | — |
These figures turn the debt totals into a monthly repayment picture for Howard Payne.
The default rate measures how many borrowers fall behind and ultimately fail to repay their federal loans. The federal two-year cohort default rate for Howard Payne appears below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 13.3% |
| Borrowers in the cohort | 367 |
This rate follows a borrower cohort from the start of repayment through the two-year window the Department of Education uses.
Median debt differs by income tier, first-generation status, and whether the student is financially dependent.
Median Debt by Income Bracket
| Income tier | Median federal debt |
|---|---|
| Low income | $9,500 |
| Middle income | $13,166 |
| High income | $11,000 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $11,988 |
| Continuing-generation students | $11,000 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $11,000 |
| Independent students | $23,025 |
Federal data publishes the following gap measures for Howard Payne.
Subsidized vs. 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.
Did You Know?
Federal student loans are not discharged in bankruptcy in all but the rarest cases, and the government can withhold part of your income or tax refund if you default.
References
More about our data sources and methodologies.