by our College Data Analytics TeamHere you will find what students actually borrow to attend Mid-Plains Community College: 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 Mid-Plains Community College, 20% of first-year students take on loan debt, averaging $4,997 apiece. This figure includes both private and federally funded student loans.
On the federal side, the average loan is $4,957, representing 90.1% 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.
For undergraduates overall at Mid-Plains Community College, 24% take out federal student loans, averaging $5,700 annually. It comes to 15.0% above the $4,957 typical freshmen borrow.
Borrowing at that rate every year works out to about $11,400 across two years and $22,800 over four years. This projection keeps yearly federal borrowing flat and excludes private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 24% |
| Average federal loan per year | $5,700 |
| Undergraduates with a federal loan | 218 |
| Total federal loans (one year) | $1,242,496 |
Graduating and withdrawing students at Mid-Plains Community College carry a median federal debt of $6,291 of cumulative federal debt.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $6,291 |
| Students who completed (graduates) | $9,995 |
| Students who withdrew | $5,500 |
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 Mid-Plains Community College.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $1,500 |
| 25th percentile | $2,750 |
| 75th percentile | $9,500 |
| 90th percentile (highest-debt students) | $14,000 |
The gap between the 10th and 90th percentile is the clearest single measure of how widely borrowing varies at Mid-Plains Community College.
PLUS loans — taken out by parents or graduate students — add to the total cost of attendance financed by debt at Mid-Plains Community College.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 128 | $8,735 |
| Completed (graduates) | 20 | $9,700 |
| Did not complete | 108 | $8,710 |
Completers face an estimated standard 10-year monthly payment on their PLUS-inclusive debt of roughly $115.34/mo.
Stafford loans are the federal direct-loan program most undergraduates use. The breakdown below separates borrowers who used Stafford loans from those who did not at Mid-Plains Community College.
Borrowers With a Stafford Loan This Year
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 49 | $8,600 |
| No Stafford loan this year | 79 | $9,047 |
Repayment burden translates the debt figures into what a borrower actually pays each month. Mid-Plains Community College.
Defaulting means failing to repay a federal student loan, which carries serious credit consequences. The federal two-year cohort default rate for Mid-Plains Community College appears below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 9.9% |
| Borrowers in the cohort | 402 |
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.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $6,500 |
| Middle income | $6,500 |
| High income | $5,500 |
First-Gen vs Continuing-Gen Borrowing
| Cohort | Median federal debt |
|---|---|
| First-generation students | $6,250 |
| Continuing-generation students | $6,750 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $5,500 |
| Independent students | $8,339 |
The Department of Education computes gap indicators that show how borrowing differs between student groups at Mid-Plains Community 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.
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.