by our College Data Analytics TeamHere you will find what students actually borrow to attend Medical Institute of Palm Beach: median debt, the percentile spread, total borrowing including PLUS loans, and the cost to repay. These figures are reported by the Department of Education and IPEDS.
At Medical Institute of Palm Beach, 19% of new students use loans toward freshman-year expenses, with a typical loan of $6,689 per student, private and federal loans combined.
The typical federal loan comes to $6,689. That is at or past the $5,500 federal first-year limit for the typical dependent freshman. Keep in mind the all-undergraduate averages further down count federal loans only, unlike this private-plus-federal freshman figure.
Looking at all undergraduates at Medical Institute of Palm Beach, freshmen included, 31% take out federal student loans, averaging $6,899 in federal loans per year. That amounts to 3.1% more than the freshman federal average of $6,689.
Borrowing at that rate every year works out to about $13,798 across two years and $27,596 after four. This assumes steady federal borrowing and leaves out private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 31% |
| Average federal loan per year | $6,899 |
| Undergraduates with a federal loan | 180 |
| Total federal loans (one year) | $1,241,846 |
The middle borrower at Medical Institute of Palm Beach owes $5,975 in federal borrowing.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $5,975 |
| Students who completed (graduates) | $6,417 |
| Students who withdrew | $4,244 |
The figure for students who withdrew is worth watching: debt without a completed credential is the hardest to repay.
The median hides the spread, so the percentiles below show cumulative federal debt at four points in the distribution for Medical Institute of Palm Beach.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $2,364 |
| 25th percentile | $3,721 |
| 75th percentile | $9,500 |
| 90th percentile (highest-debt students) | $9,500 |
How wide this percentile range is tells you how much borrowing varies across students at Medical Institute of Palm Beach.
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 Medical Institute of Palm Beach.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 22 | $3,613 |
The indicators below describe what the typical debt costs to pay back at Medical Institute of Palm Beach.
The default rate measures how many borrowers fall behind and ultimately fail to repay their federal loans. Two-year cohort default-rate data for Medical Institute of Palm Beach appears below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 9.3% |
| Borrowers in the cohort | 129 |
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 | $5,617 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $6,417 |
| Continuing-generation students | $5,520 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $5,500 |
| Independent students | $6,428 |
Federal data publishes the following gap measures for Medical Institute of Palm Beach.
Subsidized vs. 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.
Did You Know?
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.