by our College Data Analytics TeamBelow is federal data on the loans students use to pay for Life Pacific University: 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.
Looking at the entering class at LIFE Bible College, 68% of freshmen borrow to help pay for their first year, at roughly $6,992 each — a figure that counts both private and federal student loans.
The average federally funded loan is $5,867. That is at or past the $5,500 federal first-year limit for the typical dependent freshman. Remember the all-undergraduate figures below leave out private loans, so they will look lower than this private-plus-federal freshman amount.
Among all degree-seeking undergrads at LIFE Bible College, 66% use federal student loans to help pay for their education, borrowing on average $7,319 each per year. This works out to 24.7% greater than the $5,867 freshmen take on.
Borrowing at that rate every year works out to about $14,638 by year two and around $29,276 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 | 66% |
| Average federal loan per year | $7,319 |
| Undergraduates with a federal loan | 261 |
| Total federal loans (one year) | $1,910,324 |
Graduating and withdrawing students at LIFE Bible College carry a median federal debt of $14,000 in federal student loans.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $14,000 |
| Students who completed (graduates) | $22,395 |
| Students who withdrew | $7,500 |
Withdrawn-student debt matters because those borrowers carry the loans without the degree that helps repay them.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 LIFE Bible College.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $4,840 |
| 25th percentile | $6,500 |
| 75th percentile | $23,500 |
| 90th percentile (highest-debt students) | $34,490 |
The spread between the lowest- and highest-debt deciles summarizes how variable outcomes are at LIFE Bible College.
The figures above count only the students own federal loans. Adding PLUS loans (borrowed by parents or graduate students) gives a fuller picture of total borrowing at LIFE Bible College.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 96 | $19,152 |
| Completed (graduates) | 49 | $17,305 |
| Did not complete | 47 | $19,930 |
For students who completed, the median total debt including PLUS loans works out to a standard 10-year payment of about $205.77/mo.
Repayment burden translates the debt figures into what a borrower actually pays each month. LIFE Bible College.
The default rate measures how many borrowers fall behind and ultimately fail to repay their federal loans. Two-year cohort default-rate data for LIFE Bible College appears below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 4.0% |
| Borrowers in the cohort | 148 |
The cohort default rate tracks borrowers who entered repayment in a given year and defaulted within the two-year measurement window.
Borrowing varies by family income, by first-generation status, and by dependency status.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $15,400 |
| Middle income | $13,458 |
| High income | $12,000 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $14,000 |
| Continuing-generation students | $14,000 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $13,100 |
| Independent students | $15,231 |
Federal data publishes the following gap measures for LIFE Bible College.
Subsidized and Unsubsidized Loans
Subsidized loans pause interest while you are in school; unsubsidized loans do not. That difference compounds over four years, so the type of loan you take matters as much as the amount.
Did You Know?
Federal student loans are not discharged in bankruptcy in all but the rarest cases, and the government can withhold part of your income or tax refund if you default.
References
More about our data sources and methodologies.