by our College Data Analytics TeamBelow is federal data on the loans students use to pay for M J Murphy Beauty College of Mount Pleasant, including completion-adjusted borrowing and a standard repayment estimate. The data below is drawn directly from federal sources.
For incoming students at M J Murphy Beauty College of Mount Pleasant, 100% of new students use loans toward freshman-year expenses, for an average of $7,714 per student, private and federal loans combined.
The typical federal loan comes to $7,714. That is at or past the $5,500 federal first-year limit for the typical dependent freshman. Bear in mind the undergraduate averages later on cover federal loans only, whereas this freshman total folds in private loans too.
Among all degree-seeking undergrads at M J Murphy Beauty College of Mount Pleasant, 70% use federal student loans to help pay for their education, averaging $5,838 per year. That amounts to 24.3% under the $7,714 borrowed by freshmen.
Borrowing at that rate every year works out to about $11,676 across two years and $23,352 after four. The estimate holds federal borrowing constant and does not count private or Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 70% |
| Average federal loan per year | $5,838 |
| Undergraduates with a federal loan | 37 |
| Total federal loans (one year) | $216,000 |
The median student at M J Murphy Beauty College of Mount Pleasant borrows $4,750 of cumulative federal debt.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $4,750 |
| Students who withdrew | $4,750 |
Debt carried by students who withdrew is a key risk signal — these borrowers owe money without having earned the credential.
The median hides the spread, so the percentiles below show cumulative federal debt at four points in the distribution for M J Murphy Beauty College of Mount Pleasant.
| Percentile | Cumulative Federal Debt |
|---|---|
| 25th percentile | $4,750 |
| 75th percentile | $9,833 |
Repayment burden translates the debt figures into what a borrower actually pays each month. M J Murphy Beauty College of Mount Pleasant.
A loan default — failing to keep up with federal student-loan payments — is one of the worst financial outcomes a borrower can face. The official Department of Education two-year default rate for M J Murphy Beauty College of Mount Pleasant appears below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 9.6% |
| Borrowers in the cohort | 52 |
A lower default rate generally signals that graduates earn enough to manage their loan payments.
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
Declaring bankruptcy does not erase federal student loan debt. If you stop paying, the federal government can garnish a portion of your wages until the loans are repaid.
References
More about our data sources and methodologies.