by our College Data Analytics TeamHere you will find what students actually borrow to attend Luther Rice College & Seminary: median debt, the percentile spread, total borrowing including PLUS loans, and the cost to repay. The data below is drawn directly from federal sources.
At Luther Rice specifically, 0% of freshmen borrow to help pay for their first year.
For undergraduates overall at Luther Rice, 45% take out federal student loans, at an average of $7,961 in federal loans per year.
At a steady annual pace, that totals around $15,922 in two years and roughly $31,844 over a four-year span. These figures assume identical federal borrowing each year and omit private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 45% |
| Average federal loan per year | $7,961 |
| Undergraduates with a federal loan | 88 |
| Total federal loans (one year) | $700,570 |
The middle borrower at Luther Rice owes $16,094 in federal borrowing.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $16,094 |
| Students who completed (graduates) | $34,153 |
| Students who withdrew | $10,500 |
Debt carried by students who withdrew is a key risk signal — these borrowers owe money without having earned the credential.
Half of all borrowers fall between the 25th and 75th percentiles shown below for Luther Rice.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,440 |
| 25th percentile | $7,000 |
| 75th percentile | $34,129 |
| 90th percentile (highest-debt students) | $50,000 |
The gap between the 10th and 90th percentile is the clearest single measure of how widely borrowing varies at Luther Rice.
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 Luther Rice.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 40 | $7,502 |
| Completed (graduates) | 20 | $7,315 |
| Did not complete | 20 | $8,752 |
Completers face an estimated standard 10-year monthly payment on their PLUS-inclusive debt of roughly $86.98/mo.
Federal data lets us separate Stafford borrowers from the rest at Luther Rice.
Borrowers With a Stafford Loan This Year
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 21 | $7,500 |
| No Stafford loan this year | 19 | $8,484 |
Repayment burden translates the debt figures into what a borrower actually pays each month. Luther Rice.
The default rate measures how many borrowers fall behind and ultimately fail to repay their federal loans. Two-year cohort default-rate data for Luther Rice follows.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 5.3% |
| Borrowers in the cohort | 187 |
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.
Borrowing by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $17,435 |
| Middle income | $17,919 |
| High income | $11,334 |
First-Gen vs Continuing-Gen Borrowing
| Cohort | Median federal debt |
|---|---|
| First-generation students | $15,316 |
| Continuing-generation students | $16,439 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $9,150 |
| Independent students | $16,834 |
These pre-calculated indicators summarize the borrowing gaps between cohorts at Luther Rice.
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.
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.