by our College Data Analytics TeamThis page focuses on the debt students take on to attend Mercer University: 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.
Looking at the entering class at Mercer, 68% of first-year students take on loan debt, borrowing on average $8,746 each — a figure that counts both private and federal student loans.
The average federal loan is $5,562. That sits at or beyond the $5,500 first-year federal limit for a typical dependent student. Be aware: the undergraduate-wide averages below exclude private loans, while this freshman number includes them.
Looking at all undergraduates at Mercer, freshmen included, 63% finance part of their studies with federal loans, at an average of $7,530 per year. That amounts to 35.4% higher than the $5,562 freshmen take on.
At a steady annual pace, that totals around $15,060 in two years and roughly $30,120 after four. These figures assume identical federal borrowing each year and omit private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 63% |
| Average federal loan per year | $7,530 |
| Undergraduates with a federal loan | 2,919 |
| Total federal loans (one year) | $21,980,950 |
Graduating and withdrawing students at Mercer carry a median federal debt of $17,655 of cumulative federal debt.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $17,655 |
| Students who completed (graduates) | $24,199 |
| Students who withdrew | $9,750 |
Withdrawn-student debt matters because those borrowers carry the loans without the degree that helps repay them.
Half of all borrowers fall between the 25th and 75th percentiles shown below for Mercer.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $4,904 |
| 25th percentile | $9,750 |
| 75th percentile | $31,000 |
| 90th percentile (highest-debt students) | $41,975 |
The spread between the lowest- and highest-debt deciles summarizes how variable outcomes are at Mercer.
PLUS loans — taken out by parents or graduate students — add to the total cost of attendance financed by debt at Mercer.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 1204 | $18,551 |
| Completed (graduates) | 789 | $20,000 |
| Did not complete | 415 | $15,932 |
On a standard 10-year plan, the median completing borrower would pay about $237.82/mo.
Federal data lets us separate Stafford borrowers from the rest at Mercer.
Any-Stafford Borrowers
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Used a Stafford loan | 1192 | — |
| No Stafford loan | 12 | — |
Current-Year Stafford Borrowers
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 1085 | $18,539 |
| No Stafford loan this year | 119 | $18,819 |
These figures turn the debt totals into a monthly repayment picture for Mercer.
The default rate measures how many borrowers fall behind and ultimately fail to repay their federal loans. Two-year cohort default-rate data for Mercer is shown below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 5.1% |
| Borrowers in the cohort | 2258 |
The cohort default rate tracks borrowers who entered repayment in a given year and defaulted within the two-year measurement window.
The breakdowns below show median federal debt by income, first-generation status, and dependency.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $18,538 |
| Middle income | $18,500 |
| High income | $15,750 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $18,352 |
| Continuing-generation students | $16,500 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $16,750 |
| Independent students | $19,000 |
These pre-calculated indicators summarize the borrowing gaps between cohorts at Mercer.
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.
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.