by our College Data Analytics TeamThis page focuses on the debt students take on to attend Loyola University Chicago— how much they borrow, how that debt is spread across the student body, and what it costs to pay back. These figures are reported by the Department of Education and IPEDS.
Looking at the entering class at Loyola Chicago, 50% of incoming undergraduates borrow in year one, at roughly $9,026 each — a figure that counts both private and federal student loans.
The average federal loan is $5,313, amounting to 96.6% of the $5,500 first-year federal borrowing limit for a typical dependent freshman. Be aware: the undergraduate-wide averages below exclude private loans, while this freshman number includes them.
Looking at all undergraduates at Loyola Chicago, freshmen included, 48% rely on federal student loans toward their education, with a mean of $6,557 a year. This is 23.4% greater than the first-year federal average of $5,313.
At a steady annual pace, that totals around $13,114 across two years and $26,228 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 | 48% |
| Average federal loan per year | $6,557 |
| Undergraduates with a federal loan | 5,591 |
| Total federal loans (one year) | $36,661,741 |
The middle borrower at Loyola Chicago owes $20,500 in federal borrowing.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $20,500 |
| Students who completed (graduates) | $24,157 |
| Students who withdrew | $11,964 |
Withdrawn-student debt matters because those borrowers carry the loans without the degree that helps repay them.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 Loyola Chicago.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,282 |
| 25th percentile | $8,500 |
| 75th percentile | $27,000 |
| 90th percentile (highest-debt students) | $33,000 |
The gap between the 10th and 90th percentile is the clearest single measure of how widely borrowing varies at Loyola Chicago.
Median federal debt understates the full cost when PLUS loans are included. The totals below add PLUS borrowing for Loyola Chicago.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 2565 | $45,138 |
| Completed (graduates) | 1774 | $54,045 |
| Did not complete | 791 | $30,613 |
For students who completed, the median total debt including PLUS loans works out to a standard 10-year payment of about $642.65/mo.
The split below distinguishes Stafford borrowers from non-Stafford borrowers at Loyola Chicago.
Any-Stafford Borrowers
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Used a Stafford loan | 2515 | $46,131 |
| No Stafford loan | 50 | $29,579 |
Current-Year Stafford Borrowers
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 2358 | $48,507 |
| No Stafford loan this year | 207 | $25,188 |
The indicators below describe what the typical debt costs to pay back at Loyola Chicago.
Defaulting means failing to repay a federal student loan, which carries serious credit consequences. The federal two-year cohort default rate for Loyola Chicago follows.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 3.1% |
| Borrowers in the cohort | 3875 |
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.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $22,000 |
| Middle income | $22,000 |
| High income | $19,500 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $20,500 |
| Continuing-generation students | $20,250 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $20,000 |
| Independent students | $22,000 |
Federal data publishes the following gap measures for Loyola Chicago.
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.
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.