by our College Data Analytics TeamThis page focuses on the debt students take on to attend Iowa State University— 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.
For incoming students at Iowa State, 46% of incoming undergraduates borrow in year one, averaging $8,515 per student, private and federal loans combined.
The average federal loan is $5,126, equal to roughly 93.2% of the $5,500 first-year borrowing cap for the typical first-year dependent student. Keep in mind the all-undergraduate averages further down count federal loans only, unlike this private-plus-federal freshman figure.
Across the full undergraduate body at Iowa State (freshmen included), 44% borrow through federal student loan programs, at an average of $5,946 in federal loans per year. That amounts to 16.0% greater than the $5,126 freshmen take on.
Carrying that yearly figure forward comes to roughly $11,892 over two years and about $23,784 over a four-year span. These projections assume the same federal borrowing each year and exclude private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 44% |
| Average federal loan per year | $5,946 |
| Undergraduates with a federal loan | 10,975 |
| Total federal loans (one year) | $65,258,096 |
Graduating and withdrawing students at Iowa State carry a median federal debt of $18,750 of cumulative federal debt.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $18,750 |
| Students who completed (graduates) | $22,869 |
| Students who withdrew | $8,250 |
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 Iowa State.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $4,166 |
| 25th percentile | $8,250 |
| 75th percentile | $27,000 |
| 90th percentile (highest-debt students) | $32,500 |
How wide this percentile range is tells you how much borrowing varies across students at Iowa State.
Median federal debt understates the full cost when PLUS loans are included. The totals below add PLUS borrowing for Iowa State.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 3182 | $21,463 |
| Completed (graduates) | 2169 | $25,950 |
| Did not complete | 1013 | $16,000 |
For students who completed, the median total debt including PLUS loans works out to a standard 10-year payment of about $308.57/mo.
Federal data lets us separate Stafford borrowers from the rest at Iowa State.
Borrowers With Any Stafford Loan
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Used a Stafford loan | 3137 | $21,611 |
| No Stafford loan | 45 | $16,516 |
Borrowers With a Stafford Loan This Year
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 2941 | $21,861 |
| No Stafford loan this year | 241 | $16,516 |
The indicators below describe what the typical debt costs to pay back at Iowa State.
Defaulting means failing to repay a federal student loan, which carries serious credit consequences. Two-year cohort default-rate data for Iowa State appears below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 3.8% |
| Borrowers in the cohort | 5123 |
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.
Borrowing by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $18,500 |
| Middle income | $18,420 |
| High income | $19,500 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $19,000 |
| Continuing-generation students | $18,630 |
Dependent vs Independent Borrowers
| Cohort | Median federal debt |
|---|---|
| Dependent students | $18,750 |
| Independent students | $20,770 |
Federal data publishes the following gap measures for Iowa State.
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
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.