by our College Data Analytics TeamBelow is federal data on the loans students use to pay for Manhattan University: median debt, the percentile spread, total borrowing including PLUS loans, and the cost to repay. All figures come from the U.S. Department of Education and IPEDS.
Among first-year students at Manhattan, 54% of incoming students take out a loan to help cover first-year costs, for an average of $7,630 each — a figure that counts both private and federal student loans.
The average federally funded loan is $4,978, representing 90.5% 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 Manhattan, freshmen included, 16% borrow through federal student loan programs, averaging $5,190 in federal loans per year. This works out to 4.3% more than the $4,978 borrowed by freshmen.
Repeating that yearly amount projects to about $10,380 over two years and about $20,760 by the fourth year. This projection keeps yearly federal borrowing flat and excludes private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 16% |
| Average federal loan per year | $5,190 |
| Undergraduates with a federal loan | 454 |
| Total federal loans (one year) | $2,356,349 |
The middle borrower at Manhattan owes $21,500 of cumulative federal debt.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $21,500 |
| Students who completed (graduates) | $26,000 |
| Students who withdrew | $9,079 |
Withdrawn-student debt matters because those borrowers carry the loans without the degree that helps repay them.
The median hides the spread, so the percentiles below show cumulative federal debt at four points in the distribution for Manhattan.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $5,500 |
| 25th percentile | $12,000 |
| 75th percentile | $27,000 |
| 90th percentile (highest-debt students) | $31,000 |
The gap between the 10th and 90th percentile is the clearest single measure of how widely borrowing varies at Manhattan.
Median federal debt understates the full cost when PLUS loans are included. The totals below add PLUS borrowing for Manhattan.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 671 | $48,880 |
| Completed (graduates) | 463 | $56,630 |
| Did not complete | 208 | $29,918 |
For students who completed, the median total debt including PLUS loans works out to a standard 10-year payment of about $673.39/mo.
Federal data lets us separate Stafford borrowers from the rest at Manhattan.
Stafford vs Non-Stafford (any year)
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Used a Stafford loan | 659 | — |
| No Stafford loan | 12 | — |
Stafford This Year vs Not
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 633 | $49,217 |
| No Stafford loan this year | 38 | $42,402 |
These figures turn the debt totals into a monthly repayment picture for Manhattan.
A loan default — failing to keep up with federal student-loan payments — is one of the worst financial outcomes a borrower can face. Two-year cohort default-rate data for Manhattan follows.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 3.6% |
| Borrowers in the cohort | 757 |
A lower default rate generally signals that graduates earn enough to manage their loan payments.
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 | $19,500 |
| Middle income | $20,262 |
| High income | $23,000 |
First-Gen vs Continuing-Gen Borrowing
| Cohort | Median federal debt |
|---|---|
| First-generation students | $21,500 |
| Continuing-generation students | $22,750 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $21,500 |
| Independent students | $21,963 |
These pre-calculated indicators summarize the borrowing gaps between cohorts at Manhattan.
The Difference Between Subsidized and Unsubsidized Loans
Unsubsidized federal student loans accrue interest every month — even while you are still enrolled. Unless you pay that interest as it builds, the balance you owe at graduation can be noticeably higher than the amount you originally borrowed.
Important to Remember
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.