by our College Data Analytics TeamHere you will find what students actually borrow to attend Knox College, including completion-adjusted borrowing and a standard repayment estimate. The data below is drawn directly from federal sources.
For incoming students at Knox, 78% of first-year students take on loan debt, borrowing on average $6,986 per student, private and federal loans combined.
Federal loans alone average $5,403, amounting to 98.2% of the $5,500 federal limit that applies to a typical first-year dependent borrower. Keep in mind the all-undergraduate averages further down count federal loans only, unlike this private-plus-federal freshman figure.
Among all degree-seeking undergrads at Knox, 68% borrow through federal student loan programs, at an average of $6,527 per year. This is 20.8% greater than the first-year federal average of $5,403.
Borrowing at that rate every year works out to about $13,054 across two years and $26,108 across a four-year program. These projections assume the same federal borrowing each year and exclude private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 68% |
| Average federal loan per year | $6,527 |
| Undergraduates with a federal loan | 674 |
| Total federal loans (one year) | $4,399,272 |
Graduating and withdrawing students at Knox carry a median federal debt of $23,852 in federal borrowing.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $23,852 |
| Students who completed (graduates) | $27,000 |
| Students who withdrew | $8,162 |
Debt carried by students who withdrew is a key risk signal — these borrowers owe money without having earned the credential.
The median hides the spread, so the percentiles below show cumulative federal debt at four points in the distribution for Knox.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $5,500 |
| 25th percentile | $13,000 |
| 75th percentile | $29,499 |
| 90th percentile (highest-debt students) | $34,314 |
How wide this percentile range is tells you how much borrowing varies across students at Knox.
Median federal debt understates the full cost when PLUS loans are included. The totals below add PLUS borrowing for Knox.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 143 | $24,979 |
| Completed (graduates) | 107 | $28,730 |
| Did not complete | 36 | $15,778 |
On a standard 10-year plan, the median completing borrower would pay about $341.63/mo.
The indicators below describe what the typical debt costs to pay back at Knox.
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 Knox is shown below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 3.0% |
| Borrowers in the cohort | 296 |
This rate follows a borrower cohort from the start of repayment through the two-year window the Department of Education uses.
The breakdowns below show median federal debt by income, first-generation status, and dependency.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $22,155 |
| Middle income | $25,000 |
| High income | $21,500 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $24,480 |
| Continuing-generation students | $21,500 |
Dependent vs Independent Borrowers
| Cohort | Median federal debt |
|---|---|
| Dependent students | $24,000 |
| Independent students | $20,000 |
The Department of Education computes gap indicators that show how borrowing differs between student groups at Knox.
The Difference Between Subsidized and 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.
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.