by our College Data Analytics TeamBelow is federal data on the loans students use to pay for Martin Luther College— how much they borrow, how that debt is spread across the student body, and what it costs to pay back. The data below is drawn directly from federal sources.
At MLC specifically, 85% of incoming undergraduates borrow in year one, borrowing on average $6,137 per borrower, covering both private and federal loans.
Federal loans alone average $5,257, equal to roughly 95.6% of the $5,500 federal limit that applies to a typical first-year dependent borrower. Remember the all-undergraduate figures below leave out private loans, so they will look lower than this private-plus-federal freshman amount.
Across the full undergraduate body at MLC (freshmen included), 70% borrow through federal student loan programs, at an average of $6,524 a year. That is 24.1% more than the $5,257 typical freshmen borrow.
Borrowing the same amount each year would add up to roughly $13,048 by year two and around $26,096 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 | 70% |
| Average federal loan per year | $6,524 |
| Undergraduates with a federal loan | 505 |
| Total federal loans (one year) | $3,294,864 |
The middle borrower at MLC owes $16,606 in federal student loans.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $16,606 |
| Students who completed (graduates) | $20,177 |
| Students who withdrew | $6,500 |
The figure for students who withdrew is worth watching: debt without a completed credential is the hardest to repay.
Half of all borrowers fall between the 25th and 75th percentiles shown below for MLC.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,500 |
| 25th percentile | $6,911 |
| 75th percentile | $24,500 |
| 90th percentile (highest-debt students) | $30,500 |
How wide this percentile range is tells you how much borrowing varies across students at MLC.
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 MLC.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 47 | $10,226 |
The split below distinguishes Stafford borrowers from non-Stafford borrowers at MLC.
Stafford This Year vs Not
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 31 | — |
| No Stafford loan this year | 16 | — |
Repayment burden translates the debt figures into what a borrower actually pays each month. MLC.
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 MLC is shown below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 1.4% |
| Borrowers in the cohort | 141 |
The cohort default rate tracks borrowers who entered repayment in a given year and defaulted within the two-year measurement window.
Median debt differs by income tier, first-generation status, and whether the student is financially dependent.
Borrowing by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $8,263 |
| Middle income | $17,063 |
| High income | $18,990 |
First-Gen vs Continuing-Gen Borrowing
| Cohort | Median federal debt |
|---|---|
| First-generation students | $13,919 |
| Continuing-generation students | $17,500 |
These pre-calculated indicators summarize the borrowing gaps between cohorts at MLC.
Subsidized vs. 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.
Worth Knowing
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.