by our College Data Analytics TeamBelow is federal data on the loans students use to pay for Milan Institute-Clovis, including completion-adjusted borrowing and a standard repayment estimate. All figures come from the U.S. Department of Education and IPEDS.
At Milan Institute-Clovis specifically, 64% of incoming undergraduates borrow in year one, at roughly $5,033 per student, private and federal loans combined.
The average federally funded loan is $5,033, or about 91.5% of the $5,500 first-year borrowing cap for the typical first-year dependent student. Note that average undergraduate loan amounts shown later do not include private loans — so the full freshman figure above is not directly comparable.
Across the full undergraduate body at Milan Institute-Clovis (freshmen included), 66% borrow through federal student loan programs, averaging $5,027 a year. It comes to 0.1% under the $5,033 typical freshmen borrow.
Borrowing the same amount each year would add up to roughly $10,054 by year two and around $20,108 over four years. These projections assume the same federal borrowing each year and exclude private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 66% |
| Average federal loan per year | $5,027 |
| Undergraduates with a federal loan | 655 |
| Total federal loans (one year) | $3,292,685 |
The median student at Milan Institute-Clovis 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 | $4,750 |
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 Milan Institute-Clovis.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,109 |
| 25th percentile | $4,750 |
| 75th percentile | $9,500 |
| 90th percentile (highest-debt students) | $11,253 |
How wide this percentile range is tells you how much borrowing varies across students at Milan Institute-Clovis.
PLUS loans — taken out by parents or graduate students — add to the total cost of attendance financed by debt at Milan Institute-Clovis.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 235 | $4,675 |
| Completed (graduates) | 182 | $5,076 |
| Did not complete | 53 | $3,396 |
On a standard 10-year plan, the median completing borrower would pay about $60.36/mo.
Federal data lets us separate Stafford borrowers from the rest at Milan Institute-Clovis.
Stafford This Year vs Not
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 214 | $4,545 |
| No Stafford loan this year | 21 | $7,786 |
Repayment burden translates the debt figures into what a borrower actually pays each month. Milan Institute-Clovis.
Defaulting means failing to repay a federal student loan, which carries serious credit consequences. Two-year cohort default-rate data for Milan Institute-Clovis appears below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 20.2% |
| Borrowers in the cohort | 761 |
A lower default rate generally signals that graduates earn enough to manage their loan payments.
The breakdowns below show median federal debt by income, first-generation status, and dependency.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $6,333 |
| Middle income | $5,500 |
| High income | $5,500 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $6,333 |
| Continuing-generation students | $6,333 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $5,500 |
| Independent students | $6,333 |
The Department of Education computes gap indicators that show how borrowing differs between student groups at Milan Institute-Clovis.
Subsidized and Unsubsidized Loans
Unsubsidized federal student loans accrue interest every month — even while you are still enrolled. Unless you pay that interest as it builds, the balance you owe at graduation can be noticeably higher than the amount you originally borrowed.
Did You Know?
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.