by our College Data Analytics TeamBelow is federal data on the loans students use to pay for Joseph’s College Cosmetology: median debt, the percentile spread, total borrowing including PLUS loans, and the cost to repay. The data below is drawn directly from federal sources.
At Joseph’s College Cosmetology, 76% of new students use loans toward freshman-year expenses, averaging $8,974 each, across private and federal loan sources.
The average federal loan is $8,974. This reaches or tops the $5,500 first-year federal borrowing cap for a typical dependent student. Keep in mind the all-undergraduate averages further down count federal loans only, unlike this private-plus-federal freshman figure.
For undergraduates overall at Joseph’s College Cosmetology, 54% borrow through federal student loan programs, for a typical $8,668 annually. It comes to 3.4% smaller than the $8,974 freshmen take on.
At a steady annual pace, that totals around $17,336 in two years and roughly $34,672 by the fourth year. These figures assume identical federal borrowing each year and omit private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 54% |
| Average federal loan per year | $8,668 |
| Undergraduates with a federal loan | 74 |
| Total federal loans (one year) | $641,422 |
Graduating and withdrawing students at Joseph’s College Cosmetology carry a median federal debt of $10,000 in federal borrowing.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $10,000 |
| Students who completed (graduates) | $12,000 |
| Students who withdrew | $4,750 |
Withdrawn-student debt matters because those borrowers carry the loans without the degree that helps repay them.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 Joseph’s College Cosmetology.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,500 |
| 25th percentile | $6,093 |
| 75th percentile | $16,500 |
| 90th percentile (highest-debt students) | $20,000 |
The spread between the lowest- and highest-debt deciles summarizes how variable outcomes are at Joseph’s College Cosmetology.
PLUS loans — taken out by parents or graduate students — add to the total cost of attendance financed by debt at Joseph’s College Cosmetology.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 26 | $6,919 |
The indicators below describe what the typical debt costs to pay back at Joseph’s College Cosmetology.
The default rate measures how many borrowers fall behind and ultimately fail to repay their federal loans. Two-year cohort default-rate data for Joseph’s College Cosmetology follows.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 6.7% |
| Borrowers in the cohort | 237 |
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 | $9,044 |
| Middle income | $8,306 |
| High income | $12,000 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $9,500 |
| Continuing-generation students | $11,572 |
Dependent vs Independent Borrowers
| Cohort | Median federal debt |
|---|---|
| Dependent students | $8,750 |
| Independent students | $10,428 |
The Department of Education computes gap indicators that show how borrowing differs between student groups at Joseph’s College Cosmetology.
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.