by our College Data Analytics TeamHere you will find what students actually borrow to attend Lawrence Technological University, including completion-adjusted borrowing and a standard repayment estimate. All figures come from the U.S. Department of Education and IPEDS.
Looking at the entering class at Lawrence Tech, 57% of incoming students take out a loan to help cover first-year costs, borrowing on average $9,052 each, across private and federal loan sources.
The average federal loan is $5,498, representing 100.0% of the $5,500 first-year borrowing cap for the typical first-year dependent student. 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 Lawrence Tech (freshmen included), 48% use federal student loans to help pay for their education, averaging $6,831 per year. That is 24.2% larger than the $5,498 typical freshmen borrow.
Borrowing the same amount each year would add up to roughly $13,662 in two years and roughly $27,324 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 | 48% |
| Average federal loan per year | $6,831 |
| Undergraduates with a federal loan | 819 |
| Total federal loans (one year) | $5,594,944 |
The middle borrower at Lawrence Tech owes $20,500 in federal student loans.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $20,500 |
| Students who completed (graduates) | $27,000 |
| Students who withdrew | $9,500 |
Withdrawn-student debt matters because those borrowers carry the loans without the degree that helps repay them.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 Lawrence Tech.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $4,750 |
| 25th percentile | $8,701 |
| 75th percentile | $31,000 |
| 90th percentile (highest-debt students) | $42,875 |
How wide this percentile range is tells you how much borrowing varies across students at Lawrence Tech.
Median federal debt understates the full cost when PLUS loans are included. The totals below add PLUS borrowing for Lawrence Tech.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 442 | $36,229 |
| Completed (graduates) | 235 | $54,800 |
| Did not complete | 207 | $24,807 |
On a standard 10-year plan, the median completing borrower would pay about $651.63/mo.
The split below distinguishes Stafford borrowers from non-Stafford borrowers at Lawrence Tech.
Borrowers With Any Stafford Loan
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Used a Stafford loan | 424 | — |
| No Stafford loan | 18 | — |
Current-Year Stafford Borrowers
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 387 | $41,273 |
| No Stafford loan this year | 55 | $19,000 |
These figures turn the debt totals into a monthly repayment picture for Lawrence Tech.
The default rate measures how many borrowers fall behind and ultimately fail to repay their federal loans. Two-year cohort default-rate data for Lawrence Tech follows.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 6.5% |
| Borrowers in the cohort | 704 |
This rate follows a borrower cohort from the start of repayment through the two-year window the Department of Education uses.
Borrowing varies by family income, by first-generation status, and by dependency status.
Borrowing by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $17,750 |
| Middle income | $23,250 |
| High income | $21,000 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $22,250 |
| Continuing-generation students | $17,984 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $20,433 |
| Independent students | $24,625 |
Federal data publishes the following gap measures for Lawrence Tech.
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.
Important to Remember
Unlike most other debt, federal student loans generally survive bankruptcy — and unpaid balances can lead to wage garnishment — so borrow only what you truly need.
References
More about our data sources and methodologies.