by our College Data Analytics TeamThis page focuses on the debt students take on to attend Lawrence Memorial Hospital School of Nursing, including completion-adjusted borrowing and a standard repayment estimate. The data below is drawn directly from federal sources.
For undergraduates overall at Lawrence Memorial, 77% borrow through federal student loan programs, with a mean of $9,739 a year.
At a steady annual pace, that totals around $19,478 by year two and around $38,956 by the fourth year. These figures assume identical federal borrowing each year and omit private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 77% |
| Average federal loan per year | $9,739 |
| Undergraduates with a federal loan | 151 |
| Total federal loans (one year) | $1,470,661 |
The middle borrower at Lawrence Memorial owes $20,000 of cumulative federal debt.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $20,000 |
| Students who completed (graduates) | $20,000 |
| Students who withdrew | $12,350 |
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 Lawrence Memorial.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $5,500 |
| 25th percentile | $10,725 |
| 75th percentile | $20,000 |
| 90th percentile (highest-debt students) | $24,725 |
The gap between the 10th and 90th percentile is the clearest single measure of how widely borrowing varies at Lawrence Memorial.
Median federal debt understates the full cost when PLUS loans are included. The totals below add PLUS borrowing for Lawrence Memorial.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 47 | $9,650 |
| Completed (graduates) | 25 | $11,478 |
| Did not complete | 22 | $9,399 |
Completers face an estimated standard 10-year monthly payment on their PLUS-inclusive debt of roughly $136.49/mo.
These figures turn the debt totals into a monthly repayment picture for Lawrence Memorial.
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 Lawrence Memorial is shown below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 0% |
| Borrowers in the cohort | 121 |
A lower default rate generally signals that graduates earn enough to manage their loan payments.
The breakdowns below show median federal debt by income, first-generation status, and dependency.
Median Debt by Income Bracket
| Income tier | Median federal debt |
|---|---|
| Low income | $20,000 |
| Middle income | $20,000 |
| High income | $19,756 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $20,000 |
| Continuing-generation students | $20,000 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $14,588 |
| Independent students | $20,000 |
These pre-calculated indicators summarize the borrowing gaps between cohorts at Lawrence Memorial.
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.
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.