by our College Data Analytics TeamHere you will find what students actually borrow to attend Indiana Institute of Technology, including completion-adjusted borrowing and a standard repayment estimate. All figures come from the U.S. Department of Education and IPEDS.
Among first-year students at Indiana Tech, 83% of incoming students take out a loan to help cover first-year costs, with a typical loan of $6,368 per student, private and federal loans combined.
The average federal loan is $4,032, or about 73.3% of the $5,500 cap on first-year federal borrowing for the typical dependent student. Remember the all-undergraduate figures below leave out private loans, so they will look lower than this private-plus-federal freshman amount.
Across the full undergraduate body at Indiana Tech (freshmen included), 83% finance part of their studies with federal loans, at an average of $4,399 each per year. That amounts to 9.1% larger than the first-year federal average of $4,032.
Carrying that yearly figure forward comes to roughly $8,798 by year two and around $17,596 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 | 83% |
| Average federal loan per year | $4,399 |
| Undergraduates with a federal loan | 1,132 |
| Total federal loans (one year) | $4,979,800 |
The middle borrower at Indiana Tech owes $12,564 in federal borrowing.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $12,564 |
| Students who completed (graduates) | $26,391 |
| Students who withdrew | $9,500 |
Withdrawn-student debt matters because those borrowers carry the loans without the degree that helps repay them.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 Indiana Tech.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,000 |
| 25th percentile | $5,416 |
| 75th percentile | $19,000 |
| 90th percentile (highest-debt students) | $34,250 |
The gap between the 10th and 90th percentile is the clearest single measure of how widely borrowing varies at Indiana Tech.
Median federal debt understates the full cost when PLUS loans are included. The totals below add PLUS borrowing for Indiana Tech.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 704 | $12,796 |
| Completed (graduates) | 198 | $12,484 |
| Did not complete | 506 | $12,920 |
Completers face an estimated standard 10-year monthly payment on their PLUS-inclusive debt of roughly $148.45/mo.
Federal data lets us separate Stafford borrowers from the rest at Indiana Tech.
Borrowers With a Stafford Loan This Year
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 615 | $13,240 |
| No Stafford loan this year | 89 | $10,000 |
These figures turn the debt totals into a monthly repayment picture for Indiana Tech.
Defaulting means failing to repay a federal student loan, which carries serious credit consequences. The federal two-year cohort default rate for Indiana Tech is shown below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 7.6% |
| Borrowers in the cohort | 999 |
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.
Median Debt by Income Bracket
| Income tier | Median federal debt |
|---|---|
| Low income | $13,392 |
| Middle income | $13,521 |
| High income | $9,830 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $12,500 |
| Continuing-generation students | $13,062 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $8,750 |
| Independent students | $14,423 |
The Department of Education computes gap indicators that show how borrowing differs between student groups at Indiana Tech.
Subsidized vs. 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.
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.