by our College Data Analytics TeamHere you will find what students actually borrow to attend Illinois Central College, including completion-adjusted borrowing and a standard repayment estimate. All figures come from the U.S. Department of Education and IPEDS.
Looking at the entering class at ICC, 16% of new students use loans toward freshman-year expenses, for an average of $5,371 per student, private and federal loans combined.
The average federal loan is $4,851, equal to roughly 88.2% of the $5,500 cap on first-year federal borrowing for the 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 ICC, 12% rely on federal student loans toward their education, averaging $5,876 in federal loans per year. It comes to 21.1% above the $4,851 typical freshmen borrow.
Carrying that yearly figure forward comes to roughly $11,752 over two years and about $23,504 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 | 12% |
| Average federal loan per year | $5,876 |
| Undergraduates with a federal loan | 597 |
| Total federal loans (one year) | $3,508,188 |
The middle borrower at ICC owes $5,500 in federal student loans.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $5,500 |
| Students who completed (graduates) | $8,900 |
| Students who withdrew | $5,050 |
Debt carried by students who withdrew is a key risk signal — these borrowers owe money without having earned the credential.
Half of all borrowers fall between the 25th and 75th percentiles shown below for ICC.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $1,184 |
| 25th percentile | $1,980 |
| 75th percentile | $7,531 |
| 90th percentile (highest-debt students) | $12,380 |
The spread between the lowest- and highest-debt deciles summarizes how variable outcomes are at ICC.
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 ICC.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 541 | $15,156 |
| Completed (graduates) | 66 | $12,443 |
| Did not complete | 475 | $15,576 |
Completers face an estimated standard 10-year monthly payment on their PLUS-inclusive debt of roughly $147.96/mo.
Federal data lets us separate Stafford borrowers from the rest at ICC.
Any-Stafford Borrowers
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Used a Stafford loan | 508 | $15,183 |
| No Stafford loan | 33 | $13,866 |
Stafford This Year vs Not
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 100 | $11,276 |
| No Stafford loan this year | 441 | $16,403 |
Repayment burden translates the debt figures into what a borrower actually pays each month. ICC.
The default rate measures how many borrowers fall behind and ultimately fail to repay their federal loans. Two-year cohort default-rate data for ICC follows.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 19.7% |
| Borrowers in the cohort | 1677 |
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.
Borrowing by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $5,084 |
| Middle income | $5,500 |
| High income | $6,000 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $5,500 |
| Continuing-generation students | $5,500 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $5,500 |
| Independent students | $6,246 |
Federal data publishes the following gap measures for ICC.
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
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.