by our College Data Analytics TeamHere you will find what students actually borrow to attend Kentucky Mountain Bible College— 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 KMBC, 30% of incoming undergraduates borrow in year one, at roughly $4,499 apiece. This figure includes both private and federally funded student loans.
Federal loans alone average $4,499, equal to roughly 81.8% of the typical first-year dependent student borrowing cap of $5,500. Keep in mind the all-undergraduate averages further down count federal loans only, unlike this private-plus-federal freshman figure.
Counting every undergraduate at KMBC, 27% take out federal student loans, with a mean of $5,046 annually. This is 12.2% greater than the first-year federal average of $4,499.
Repeating that yearly amount projects to about $10,092 over two years and about $20,184 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 | 27% |
| Average federal loan per year | $5,046 |
| Undergraduates with a federal loan | 21 |
| Total federal loans (one year) | $105,972 |
The middle borrower at KMBC owes $5,500 in federal borrowing.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $5,500 |
The indicators below describe what the typical debt costs to pay back at KMBC.
A loan default — failing to keep up with federal student-loan payments — is one of the worst financial outcomes a borrower can face. Two-year cohort default-rate data for KMBC is shown below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 7.3% |
| Borrowers in the cohort | 14 |
A lower default rate generally signals that graduates earn enough to manage their loan payments.
Subsidized and Unsubsidized Loans
Unsubsidized federal student loans accrue interest every month — even while you are still enrolled. Unless you pay that interest as it builds, the balance you owe at graduation can be noticeably higher than the amount you originally borrowed.
Did You Know?
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.