by our College Data Analytics TeamThis page focuses on the debt students take on to attend Lincoln Technical Institute - New Britain, including completion-adjusted borrowing and a standard repayment estimate. These figures are reported by the Department of Education and IPEDS.
Among first-year students at Lincoln Tech - New Britain, 88% of incoming students take out a loan to help cover first-year costs, borrowing on average $8,249 per borrower, covering both private and federal loans.
The average federally funded loan is $8,249. This is at or above the $5,500 first-year federal borrowing cap that applies to the typical dependent freshman. Be aware: the undergraduate-wide averages below exclude private loans, while this freshman number includes them.
Among all degree-seeking undergrads at Lincoln Tech - New Britain, 83% take out federal student loans, with a mean of $7,606 a year. That is 7.8% less than the $8,249 typical freshmen borrow.
Carrying that yearly figure forward comes to roughly $15,212 after two years and $30,424 by the fourth year. This assumes steady federal borrowing and leaves out private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 83% |
| Average federal loan per year | $7,606 |
| Undergraduates with a federal loan | 1,117 |
| Total federal loans (one year) | $8,495,454 |
Graduating and withdrawing students at Lincoln Tech - New Britain carry a median federal debt of $9,500 of cumulative federal debt.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $9,500 |
| Students who completed (graduates) | $11,250 |
| Students who withdrew | $4,750 |
Withdrawn-student debt matters because those borrowers carry the loans without the degree that helps repay them.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 Lincoln Tech - New Britain.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $2,750 |
| 25th percentile | $5,500 |
| 75th percentile | $16,000 |
| 90th percentile (highest-debt students) | $19,504 |
The spread between the lowest- and highest-debt deciles summarizes how variable outcomes are at Lincoln Tech - New Britain.
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 Lincoln Tech - New Britain.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 1412 | $10,396 |
| Completed (graduates) | 938 | $12,456 |
| Did not complete | 474 | $7,163 |
For students who completed, the median total debt including PLUS loans works out to a standard 10-year payment of about $148.12/mo.
Stafford loans are the federal direct-loan program most undergraduates use. The breakdown below separates borrowers who used Stafford loans from those who did not at Lincoln Tech - New Britain.
Stafford vs Non-Stafford (any year)
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Used a Stafford loan | 1323 | $10,761 |
| No Stafford loan | 89 | $5,254 |
Borrowers With a Stafford Loan This Year
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 1277 | $10,869 |
| No Stafford loan this year | 135 | $6,102 |
The indicators below describe what the typical debt costs to pay back at Lincoln Tech - New Britain.
Defaulting means failing to repay a federal student loan, which carries serious credit consequences. The federal two-year cohort default rate for Lincoln Tech - New Britain follows.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 21.2% |
| Borrowers in the cohort | 4294 |
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.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $9,878 |
| Middle income | $9,500 |
| High income | $8,967 |
First-Gen vs Continuing-Gen Borrowing
| Cohort | Median federal debt |
|---|---|
| First-generation students | $9,500 |
| Continuing-generation students | $9,500 |
Dependent vs Independent Borrowers
| Cohort | Median federal debt |
|---|---|
| Dependent students | $8,750 |
| Independent students | $11,250 |
The Department of Education computes gap indicators that show how borrowing differs between student groups at Lincoln Tech - New Britain.
Subsidized vs. 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.
Worth Knowing
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.