by our College Data Analytics TeamThis page focuses on the debt students take on to attend Illinois Valley Community College, including completion-adjusted borrowing and a standard repayment estimate. All figures come from the U.S. Department of Education and IPEDS.
At IVCC specifically, 2% of first-year students take on loan debt, borrowing on average $3,735 per student, private and federal loans combined.
The average federal loan is $3,735, equal to roughly 67.9% 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.
For undergraduates overall at IVCC, 4% rely on federal student loans toward their education, borrowing on average $4,857 a year. It comes to 30.0% more than the $3,735 freshmen take on.
Borrowing the same amount each year would add up to roughly $9,714 by year two and around $19,428 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 | 4% |
| Average federal loan per year | $4,857 |
| Undergraduates with a federal loan | 66 |
| Total federal loans (one year) | $320,540 |
The middle borrower at IVCC owes $6,500 in federal student loans.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $6,500 |
| Students who completed (graduates) | $8,233 |
| 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Withdrawn-student debt matters because those borrowers carry the loans without the degree that helps repay them.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 IVCC.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $1,600 |
| 25th percentile | $2,900 |
| 75th percentile | $10,000 |
| 90th percentile (highest-debt students) | $17,000 |
The spread between the lowest- and highest-debt deciles summarizes how variable outcomes are at IVCC.
PLUS loans — taken out by parents or graduate students — add to the total cost of attendance financed by debt at IVCC.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 101 | $14,500 |
| Completed (graduates) | 25 | $10,543 |
| Did not complete | 76 | $15,500 |
Completers face an estimated standard 10-year monthly payment on their PLUS-inclusive debt of roughly $125.37/mo.
The split below distinguishes Stafford borrowers from non-Stafford borrowers at IVCC.
Current-Year Stafford Borrowers
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 10 | — |
| No Stafford loan this year | 91 | — |
Repayment burden translates the debt figures into what a borrower actually pays each month. IVCC.
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 IVCC follows.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 13.4% |
| Borrowers in the cohort | 335 |
A lower default rate generally signals that graduates earn enough to manage their loan payments.
The breakdowns below show median federal debt by income, first-generation status, and dependency.
Borrowing by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $6,708 |
| Middle income | $5,500 |
| High income | $7,440 |
First-Gen vs Continuing-Gen Borrowing
| Cohort | Median federal debt |
|---|---|
| First-generation students | $6,500 |
| Continuing-generation students | $7,970 |
Dependent vs Independent Borrowers
| Cohort | Median federal debt |
|---|---|
| Dependent students | $5,500 |
| Independent students | $8,260 |
The Department of Education computes gap indicators that show how borrowing differs between student groups at IVCC.
The Difference Between 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.
Did You Know?
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.