by our College Data Analytics TeamThis page focuses on the debt students take on to attend Illinois Eastern Community Colleges: median debt, the percentile spread, total borrowing including PLUS loans, and the cost to repay. All figures come from the U.S. Department of Education and IPEDS.
Looking at the entering class at Olney Central College, 10% of new students use loans toward freshman-year expenses, borrowing on average $5,795 each — a figure that counts both private and federal student loans.
The average federal loan is $4,933, which is 89.7% of the $5,500 cap on first-year federal borrowing for the typical dependent student. Be aware: the undergraduate-wide averages below exclude private loans, while this freshman number includes them.
Looking at all undergraduates at Olney Central College, freshmen included, 12% finance part of their studies with federal loans, for a typical $6,112 per year. That amounts to 23.9% larger than the $4,933 freshmen take on.
Carrying that yearly figure forward comes to roughly $12,224 in two years and roughly $24,448 over four years. This assumes steady federal borrowing and leaves out private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 12% |
| Average federal loan per year | $6,112 |
| Undergraduates with a federal loan | 204 |
| Total federal loans (one year) | $1,246,889 |
The median student at Olney Central College borrows $5,500 of cumulative federal debt.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $5,500 |
| Students who completed (graduates) | $6,500 |
| Students who withdrew | $4,500 |
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 Olney Central College.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $1,750 |
| 25th percentile | $2,250 |
| 75th percentile | $5,500 |
| 90th percentile (highest-debt students) | $9,000 |
The spread between the lowest- and highest-debt deciles summarizes how variable outcomes are at Olney Central College.
PLUS loans — taken out by parents or graduate students — add to the total cost of attendance financed by debt at Olney Central College.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 436 | $9,963 |
| Completed (graduates) | 47 | $11,054 |
| Did not complete | 389 | $9,926 |
On a standard 10-year plan, the median completing borrower would pay about $131.44/mo.
Federal data lets us separate Stafford borrowers from the rest at Olney Central College.
Any-Stafford Borrowers
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Used a Stafford loan | 416 | $10,000 |
| No Stafford loan | 20 | $8,172 |
Borrowers With a Stafford Loan This Year
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 43 | $7,000 |
| No Stafford loan this year | 393 | $10,097 |
Repayment burden translates the debt figures into what a borrower actually pays each month. Olney Central 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 Olney Central College is shown below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 11.5% |
| Borrowers in the cohort | 121 |
The cohort default rate tracks borrowers who entered repayment in a given year and defaulted within the two-year measurement window.
The breakdowns below show median federal debt by income, first-generation status, and dependency.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $5,000 |
| Middle income | $5,051 |
| High income | $5,500 |
First-Gen vs Continuing-Gen Borrowing
| Cohort | Median federal debt |
|---|---|
| First-generation students | $5,250 |
| Continuing-generation students | $5,500 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $5,500 |
| Independent students | $6,000 |
The Department of Education computes gap indicators that show how borrowing differs between student groups at Olney Central College.
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.
Worth Knowing
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.