by our College Data Analytics TeamHere you will find what students actually borrow to attend Lake Land College: median debt, the percentile spread, total borrowing including PLUS loans, and the cost to repay. These figures are reported by the Department of Education and IPEDS.
Among first-year students at Lake Land College, 6% of new students use loans toward freshman-year expenses, averaging $4,120 per student, private and federal loans combined.
Federal loans alone average $4,099, equal to roughly 74.5% of the typical first-year dependent student borrowing cap of $5,500. Bear in mind the undergraduate averages later on cover federal loans only, whereas this freshman total folds in private loans too.
Across the full undergraduate body at Lake Land College (freshmen included), 7% borrow through federal student loan programs, with a mean of $4,524 annually. That amounts to 10.4% greater than the first-year federal average of $4,099.
Borrowing at that rate every year works out to about $9,048 across two years and $18,096 by the fourth year. These projections assume the same federal borrowing each year and exclude private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 7% |
| Average federal loan per year | $4,524 |
| Undergraduates with a federal loan | 171 |
| Total federal loans (one year) | $773,536 |
Graduating and withdrawing students at Lake Land College carry a median federal debt of $3,970 in federal borrowing.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $3,970 |
| Students who completed (graduates) | $6,188 |
| Students who withdrew | $3,500 |
Withdrawn-student debt matters because those borrowers carry the loans without the degree that helps repay them.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 Lake Land College.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $1,125 |
| 25th percentile | $1,750 |
| 75th percentile | $5,250 |
| 90th percentile (highest-debt students) | $8,010 |
The spread between the lowest- and highest-debt deciles summarizes how variable outcomes are at Lake Land College.
PLUS loans — taken out by parents or graduate students — add to the total cost of attendance financed by debt at Lake Land College.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 361 | $11,986 |
| Completed (graduates) | 65 | $11,041 |
| Did not complete | 296 | $12,647 |
Completers face an estimated standard 10-year monthly payment on their PLUS-inclusive debt of roughly $131.29/mo.
Federal data lets us separate Stafford borrowers from the rest at Lake Land College.
Any-Stafford Borrowers
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Used a Stafford loan | 346 | — |
| No Stafford loan | 15 | — |
Stafford This Year vs Not
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 38 | $9,286 |
| No Stafford loan this year | 323 | $13,000 |
These figures turn the debt totals into a monthly repayment picture for Lake Land College.
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 Lake Land College is shown below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 18.6% |
| Borrowers in the cohort | 553 |
A lower default rate generally signals that graduates earn enough to manage their loan payments.
Median debt differs by income tier, first-generation status, and whether the student is financially dependent.
Borrowing by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $3,500 |
| Middle income | $4,095 |
| High income | $4,500 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $3,885 |
| Continuing-generation students | $4,369 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $3,858 |
| Independent students | $4,251 |
These pre-calculated indicators summarize the borrowing gaps between cohorts at Lake Land College.
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.
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.