by our College Data Analytics TeamBelow is federal data on the loans students use to pay for Michigan College of Beauty-Monroe: 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.
Among first-year students at Michigan College of Beauty-Monroe, 75% of incoming students take out a loan to help cover first-year costs, at roughly $4,109 per borrower, covering both private and federal loans.
The typical federal loan comes to $4,109, representing 74.7% of the $5,500 federal limit that applies to a typical first-year dependent borrower. Keep in mind the all-undergraduate averages further down count federal loans only, unlike this private-plus-federal freshman figure.
Counting every undergraduate at Michigan College of Beauty-Monroe, 72% take out federal student loans, at an average of $4,258 a year. That amounts to 3.6% higher than the $4,109 typical freshmen borrow.
At a steady annual pace, that totals around $8,516 across two years and $17,032 by the fourth year. These figures assume identical federal borrowing each year and omit private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 72% |
| Average federal loan per year | $4,258 |
| Undergraduates with a federal loan | 123 |
| Total federal loans (one year) | $523,734 |
The median student at Michigan College of Beauty-Monroe borrows $6,333 in federal borrowing.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $6,333 |
| Students who completed (graduates) | $6,333 |
| Students who withdrew | $4,016 |
Withdrawn-student debt matters because those borrowers carry the loans without the degree that helps repay them.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 Michigan College of Beauty-Monroe.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $2,281 |
| 25th percentile | $3,667 |
| 75th percentile | $8,149 |
| 90th percentile (highest-debt students) | $9,833 |
The spread between the lowest- and highest-debt deciles summarizes how variable outcomes are at Michigan College of Beauty-Monroe.
The indicators below describe what the typical debt costs to pay back at Michigan College of Beauty-Monroe.
Defaulting means failing to repay a federal student loan, which carries serious credit consequences. The federal two-year cohort default rate for Michigan College of Beauty-Monroe is shown below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 3.1% |
| Borrowers in the cohort | 96 |
The cohort default rate tracks borrowers who entered repayment in a given year and defaulted within the two-year measurement window.
Borrowing varies by family income, by first-generation status, and by dependency status.
Median Debt by Income Bracket
| Income tier | Median federal debt |
|---|---|
| Low income | $6,333 |
Dependent vs Independent Borrowers
| Cohort | Median federal debt |
|---|---|
| Dependent students | $4,583 |
| Independent students | $6,333 |
Subsidized and 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.
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.