by our College Data Analytics TeamThis page focuses on the debt students take on to attend Midway University— how much they borrow, how that debt is spread across the student body, and what it costs to pay back. The data below is drawn directly from federal sources.
For incoming students at Midway, 65% of incoming undergraduates borrow in year one, for an average of $6,556 per student, private and federal loans combined.
Federal loans alone average $5,402, equal to roughly 98.2% of the $5,500 cap on first-year federal borrowing for the typical dependent student. Remember the all-undergraduate figures below leave out private loans, so they will look lower than this private-plus-federal freshman amount.
Looking at all undergraduates at Midway, freshmen included, 60% take out federal student loans, with a mean of $6,699 in federal loans per year. This is 24.0% more than the $5,402 freshmen take on.
Borrowing at that rate every year works out to about $13,398 after two years and $26,796 after four. This projection keeps yearly federal borrowing flat and excludes private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 60% |
| Average federal loan per year | $6,699 |
| Undergraduates with a federal loan | 750 |
| Total federal loans (one year) | $5,024,264 |
Graduating and withdrawing students at Midway carry a median federal debt of $12,470 in federal borrowing.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $12,470 |
| Students who completed (graduates) | $21,301 |
| Students who withdrew | $8,000 |
Withdrawn-student debt matters because those borrowers carry the loans without the degree that helps repay them.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 Midway.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,125 |
| 25th percentile | $6,452 |
| 75th percentile | $25,000 |
| 90th percentile (highest-debt students) | $35,080 |
How wide this percentile range is tells you how much borrowing varies across students at Midway.
Median federal debt understates the full cost when PLUS loans are included. The totals below add PLUS borrowing for Midway.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 235 | $14,240 |
| Completed (graduates) | 118 | $17,812 |
| Did not complete | 117 | $13,445 |
For students who completed, the median total debt including PLUS loans works out to a standard 10-year payment of about $211.8/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 Midway.
Stafford This Year vs Not
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 213 | $16,000 |
| No Stafford loan this year | 22 | $13,494 |
These figures turn the debt totals into a monthly repayment picture for Midway.
A loan default — failing to keep up with federal student-loan payments — is one of the worst financial outcomes a borrower can face. Two-year cohort default-rate data for Midway is shown below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 7.6% |
| Borrowers in the cohort | 588 |
This rate follows a borrower cohort from the start of repayment through the two-year window the Department of Education uses.
Median debt differs by income tier, first-generation status, and whether the student is financially dependent.
Median Debt by Income Bracket
| Income tier | Median federal debt |
|---|---|
| Low income | $14,318 |
| Middle income | $12,000 |
| High income | $11,000 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $13,000 |
| Continuing-generation students | $11,869 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $10,538 |
| Independent students | $16,000 |
Federal data publishes the following gap measures for Midway.
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.
Important to Remember
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.