by our College Data Analytics TeamHere you will find what students actually borrow to attend Mid-America College of Funeral Service, including completion-adjusted borrowing and a standard repayment estimate. All figures come from the U.S. Department of Education and IPEDS.
At Mid-America College specifically, 80% of incoming undergraduates borrow in year one, for an average of $9,442 each — a figure that counts both private and federal student loans.
The average federally funded loan is $6,470. This reaches or tops the $5,500 first-year federal borrowing cap for a typical dependent student. Bear in mind the undergraduate averages later on cover federal loans only, whereas this freshman total folds in private loans too.
For undergraduates overall at Mid-America College, 67% borrow through federal student loan programs, at an average of $4,387 in federal loans per year. It comes to 32.2% smaller than the freshman federal average of $6,470.
Carrying that yearly figure forward comes to roughly $8,774 over two years and about $17,548 after four. These projections assume the same federal borrowing each year and exclude private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 67% |
| Average federal loan per year | $4,387 |
| Undergraduates with a federal loan | 225 |
| Total federal loans (one year) | $987,150 |
The middle borrower at Mid-America College owes $11,625 in federal student loans.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $11,625 |
| Students who completed (graduates) | $16,666 |
| Students who withdrew | $6,333 |
The figure for students who withdrew is worth watching: debt without a completed credential is the hardest to repay.
Looking only at the median is misleading — these four percentiles describe the full debt distribution for borrowers at Mid-America College.
| Percentile | Cumulative Federal Debt |
|---|---|
| 25th percentile | $6,333 |
| 75th percentile | $15,042 |
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 Mid-America College.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 19 | $7,500 |
These figures turn the debt totals into a monthly repayment picture for Mid-America College.
The default rate measures how many borrowers fall behind and ultimately fail to repay their federal loans. Two-year cohort default-rate data for Mid-America College is shown below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 15.2% |
| Borrowers in the cohort | 72 |
A lower default rate generally signals that graduates earn enough to manage their loan payments.
Borrowing varies by family income, by first-generation status, and by dependency status.
Borrowing by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $9,920 |
| Middle income | $10,997 |
| High income | $12,063 |
First-Gen vs Continuing-Gen Borrowing
| Cohort | Median federal debt |
|---|---|
| First-generation students | $11,974 |
| Continuing-generation students | $6,333 |
Dependent vs Independent Borrowers
| Cohort | Median federal debt |
|---|---|
| Dependent students | $7,584 |
| Independent students | $12,500 |
These pre-calculated indicators summarize the borrowing gaps between cohorts at Mid-America College.
The Difference Between Subsidized and 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.
Did You Know?
Declaring bankruptcy does not erase federal student loan debt. If you stop paying, the federal government can garnish a portion of your wages until the loans are repaid.
References
More about our data sources and methodologies.