by our College Data Analytics TeamThis page focuses on the debt students take on to attend Lamar Institute of Technology, including completion-adjusted borrowing and a standard repayment estimate. These figures are reported by the Department of Education and IPEDS.
At Lamar Institute of Technology specifically, 19% of new students use loans toward freshman-year expenses, for an average of $6,085 per borrower, covering both private and federal loans.
The average federally funded loan is $6,085. This reaches or tops the $5,500 first-year federal borrowing cap for a typical dependent student. Bear in mind the undergraduate averages later on cover federal loans only, whereas this freshman total folds in private loans too.
Among all degree-seeking undergrads at Lamar Institute of Technology, 23% rely on federal student loans toward their education, with a mean of $6,642 a year. This works out to 9.2% greater than the $6,085 borrowed by freshmen.
Borrowing at that rate every year works out to about $13,284 after two years and $26,568 across a four-year program. This projection keeps yearly federal borrowing flat and excludes private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 23% |
| Average federal loan per year | $6,642 |
| Undergraduates with a federal loan | 665 |
| Total federal loans (one year) | $4,416,740 |
The middle borrower at Lamar Institute of Technology owes $8,287 in federal borrowing.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $8,287 |
| Students who completed (graduates) | $13,076 |
| Students who withdrew | $6,800 |
The figure for students who withdrew is worth watching: debt without a completed credential is the hardest to repay.
Half of all borrowers fall between the 25th and 75th percentiles shown below for Lamar Institute of Technology.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $2,000 |
| 25th percentile | $3,435 |
| 75th percentile | $11,996 |
| 90th percentile (highest-debt students) | $19,996 |
How wide this percentile range is tells you how much borrowing varies across students at Lamar Institute of Technology.
Median federal debt understates the full cost when PLUS loans are included. The totals below add PLUS borrowing for Lamar Institute of Technology.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 94 | $8,461 |
| Completed (graduates) | 25 | $8,227 |
| Did not complete | 69 | $8,578 |
For students who completed, the median total debt including PLUS loans works out to a standard 10-year payment of about $97.83/mo.
Federal data lets us separate Stafford borrowers from the rest at Lamar Institute of Technology.
Borrowers With a Stafford Loan This Year
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 25 | $7,786 |
| No Stafford loan this year | 69 | $9,696 |
These figures turn the debt totals into a monthly repayment picture for Lamar Institute of Technology.
The default rate measures how many borrowers fall behind and ultimately fail to repay their federal loans. Two-year cohort default-rate data for Lamar Institute of Technology appears below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 27.3% |
| Borrowers in the cohort | 646 |
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 | $8,808 |
| Middle income | $8,250 |
| High income | $6,500 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $8,540 |
| Continuing-generation students | $7,003 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $5,500 |
| Independent students | $9,500 |
Federal data publishes the following gap measures for Lamar Institute of Technology.
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.
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.