by our College Data Analytics TeamHere you will find what students actually borrow to attend Lakeshore Technical College: median debt, the percentile spread, total borrowing including PLUS loans, and the cost to repay. The data below is drawn directly from federal sources.
Looking at the entering class at LTC, 23% of first-year students take on loan debt, with a typical loan of $3,353 per student, private and federal loans combined.
On the federal side, the average loan is $3,353, which is 61.0% 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.
For undergraduates overall at LTC, 20% use federal student loans to help pay for their education, borrowing on average $3,350 a year. This is 0.1% smaller than the $3,353 typical freshmen borrow.
Borrowing the same amount each year would add up to roughly $6,700 in two years and roughly $13,400 by the fourth year. This projection keeps yearly federal borrowing flat and excludes private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 20% |
| Average federal loan per year | $3,350 |
| Undergraduates with a federal loan | 366 |
| Total federal loans (one year) | $1,225,975 |
Graduating and withdrawing students at LTC carry a median federal debt of $5,250 of cumulative federal debt.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $5,250 |
| Students who completed (graduates) | $7,000 |
| 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Withdrawn-student debt matters because those borrowers carry the loans without the degree that helps repay them.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 LTC.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $1,750 |
| 25th percentile | $3,209 |
| 75th percentile | $9,250 |
| 90th percentile (highest-debt students) | $15,839 |
The spread between the lowest- and highest-debt deciles summarizes how variable outcomes are at LTC.
Median federal debt understates the full cost when PLUS loans are included. The totals below add PLUS borrowing for LTC.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 103 | $10,000 |
| Completed (graduates) | 38 | $7,634 |
| Did not complete | 65 | $10,724 |
On a standard 10-year plan, the median completing borrower would pay about $90.78/mo.
Federal data lets us separate Stafford borrowers from the rest at LTC.
Current-Year Stafford Borrowers
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 44 | $7,065 |
| No Stafford loan this year | 59 | $11,382 |
These figures turn the debt totals into a monthly repayment picture for LTC.
The default rate measures how many borrowers fall behind and ultimately fail to repay their federal loans. Two-year cohort default-rate data for LTC is shown below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 7.8% |
| Borrowers in the cohort | 561 |
This rate follows a borrower cohort from the start of repayment through the two-year window the Department of Education uses.
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 | $5,250 |
| Middle income | $5,162 |
| High income | $5,116 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $5,057 |
| Continuing-generation students | $5,487 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $4,023 |
| Independent students | $5,750 |
These pre-calculated indicators summarize the borrowing gaps between cohorts at LTC.
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.