by our College Data Analytics TeamHere you will find what students actually borrow to attend Indiana Wesleyan University-Marion— how much they borrow, how that debt is spread across the student body, and what it costs to pay back. The data below is drawn directly from federal sources.
At IWU, 82% of freshmen borrow to help pay for their first year, at roughly $7,330 each, across private and federal loan sources.
The average federally funded loan is $5,052, representing 91.9% of the $5,500 first-year borrowing cap for the typical first-year 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.
Among all degree-seeking undergrads at IWU, 77% borrow through federal student loan programs, at an average of $6,145 per year. That is 21.6% more than the freshman federal average of $5,052.
Repeating that yearly amount projects to about $12,290 after two years and $24,580 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 | 77% |
| Average federal loan per year | $6,145 |
| Undergraduates with a federal loan | 1,481 |
| Total federal loans (one year) | $9,100,588 |
Graduating and withdrawing students at IWU carry a median federal debt of $14,335 in federal student loans.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $14,335 |
| Students who completed (graduates) | $24,250 |
| Students who withdrew | $6,250 |
Withdrawn-student debt matters because those borrowers carry the loans without the degree that helps repay them.
Looking only at the median is misleading — these four percentiles describe the full debt distribution for borrowers at IWU.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $2,304 |
| 25th percentile | $5,955 |
| 75th percentile | $25,000 |
| 90th percentile (highest-debt students) | $35,500 |
The spread between the lowest- and highest-debt deciles summarizes how variable outcomes are at IWU.
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 IWU.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 1809 | $11,850 |
| Completed (graduates) | 1073 | $12,987 |
| Did not complete | 736 | $9,885 |
Completers face an estimated standard 10-year monthly payment on their PLUS-inclusive debt of roughly $154.43/mo.
The split below distinguishes Stafford borrowers from non-Stafford borrowers at IWU.
Any-Stafford Borrowers
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Used a Stafford loan | 1795 | — |
| No Stafford loan | 14 | — |
Stafford This Year vs Not
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 1594 | $11,875 |
| No Stafford loan this year | 215 | $11,745 |
These figures turn the debt totals into a monthly repayment picture for IWU.
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 IWU follows.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 4.4% |
| Borrowers in the cohort | 5769 |
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 | $10,044 |
| Middle income | $17,104 |
| High income | $17,747 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $14,250 |
| Continuing-generation students | $15,369 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $14,795 |
| Independent students | $14,250 |
Federal data publishes the following gap measures for IWU.
Subsidized vs. 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.
Worth Knowing
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.