by our College Data Analytics TeamHere you will find what students actually borrow to attend Purdue University Fort Wayne— how much they borrow, how that debt is spread across the student body, and what it costs to pay back. These figures are reported by the Department of Education and IPEDS.
At PFW, 36% of incoming undergraduates borrow in year one, for an average of $5,633 each — a figure that counts both private and federal student loans.
The typical federal loan comes to $4,486, amounting to 81.6% of the $5,500 federal limit that applies to a typical first-year dependent borrower. Note that average undergraduate loan amounts shown later do not include private loans — so the full freshman figure above is not directly comparable.
Looking at all undergraduates at PFW, freshmen included, 36% use federal student loans to help pay for their education, averaging $5,758 each per year. This works out to 28.4% more than the $4,486 borrowed by freshmen.
Borrowing the same amount each year would add up to roughly $11,516 across two years and $23,032 by the fourth year. This assumes steady federal borrowing and leaves out private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 36% |
| Average federal loan per year | $5,758 |
| Undergraduates with a federal loan | 1,946 |
| Total federal loans (one year) | $11,204,309 |
The middle borrower at PFW owes $10,556 in federal student loans.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $10,556 |
| Students who completed (graduates) | $21,500 |
| Students who withdrew | $5,746 |
The figure for students who withdrew is worth watching: debt without a completed credential is the hardest to repay.
Half of all borrowers fall between the 25th and 75th percentiles shown below for PFW.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $2,750 |
| 25th percentile | $5,500 |
| 75th percentile | $26,671 |
| 90th percentile (highest-debt students) | $39,714 |
The spread between the lowest- and highest-debt deciles summarizes how variable outcomes are at PFW.
PLUS loans — taken out by parents or graduate students — add to the total cost of attendance financed by debt at PFW.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 544 | $12,392 |
| Completed (graduates) | 218 | $12,362 |
| Did not complete | 326 | $12,436 |
Completers face an estimated standard 10-year monthly payment on their PLUS-inclusive debt of roughly $147.0/mo.
Stafford loans are the federal direct-loan program most undergraduates use. The breakdown below separates borrowers who used Stafford loans from those who did not at PFW.
Any-Stafford Borrowers
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Used a Stafford loan | 534 | — |
| No Stafford loan | 10 | — |
Borrowers With a Stafford Loan This Year
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 437 | $12,258 |
| No Stafford loan this year | 107 | $13,400 |
These figures turn the debt totals into a monthly repayment picture for PFW.
The default rate measures how many borrowers fall behind and ultimately fail to repay their federal loans. The official Department of Education two-year default rate for PFW follows.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 7.5% |
| Borrowers in the cohort | 3469 |
This rate follows a borrower cohort from the start of repayment through the two-year window the Department of Education uses.
Borrowing varies by family income, by first-generation status, and by dependency status.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $10,500 |
| Middle income | $10,547 |
| High income | $10,918 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $10,628 |
| Continuing-generation students | $10,436 |
Dependent vs Independent Borrowers
| Cohort | Median federal debt |
|---|---|
| Dependent students | $9,500 |
| Independent students | $14,911 |
Federal data publishes the following gap measures for PFW.
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.
Important to Remember
Unlike most other debt, federal student loans generally survive bankruptcy — and unpaid balances can lead to wage garnishment — so borrow only what you truly need.
References
More about our data sources and methodologies.