by our College Data Analytics TeamBelow is federal data on the loans students use to pay for Milan Institute of Cosmetology-Fairfield, including completion-adjusted borrowing and a standard repayment estimate. All figures come from the U.S. Department of Education and IPEDS.
At Milan Institute of Cosmetology-Fairfield specifically, 62% of incoming students take out a loan to help cover first-year costs, at roughly $5,592 each — a figure that counts both private and federal student loans.
Federal loans alone average $5,592. That is at or past the $5,500 federal first-year limit for the typical dependent freshman. Keep in mind the all-undergraduate averages further down count federal loans only, unlike this private-plus-federal freshman figure.
Among all degree-seeking undergrads at Milan Institute of Cosmetology-Fairfield, 60% take out federal student loans, borrowing on average $5,456 annually. It comes to 2.4% under the $5,592 typical freshmen borrow.
Repeating that yearly amount projects to about $10,912 by year two and around $21,824 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 | 60% |
| Average federal loan per year | $5,456 |
| Undergraduates with a federal loan | 251 |
| Total federal loans (one year) | $1,369,456 |
The middle borrower at Milan Institute of Cosmetology-Fairfield owes $6,070 in federal student loans.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $6,070 |
| Students who completed (graduates) | $6,333 |
| Students who withdrew | $4,171 |
Withdrawn-student debt matters because those borrowers carry the loans without the degree that helps repay them.
Looking only at the median is misleading — these four percentiles describe the full debt distribution for borrowers at Milan Institute of Cosmetology-Fairfield.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $2,872 |
| 25th percentile | $4,750 |
| 75th percentile | $10,555 |
| 90th percentile (highest-debt students) | $16,500 |
The spread between the lowest- and highest-debt deciles summarizes how variable outcomes are at Milan Institute of Cosmetology-Fairfield.
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 Milan Institute of Cosmetology-Fairfield.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 85 | $4,990 |
| Completed (graduates) | 60 | $5,578 |
| Did not complete | 25 | $3,750 |
On a standard 10-year plan, the median completing borrower would pay about $66.33/mo.
The split below distinguishes Stafford borrowers from non-Stafford borrowers at Milan Institute of Cosmetology-Fairfield.
Borrowers With a Stafford Loan This Year
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 72 | — |
| No Stafford loan this year | 13 | — |
Repayment burden translates the debt figures into what a borrower actually pays each month. Milan Institute of Cosmetology-Fairfield.
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 Milan Institute of Cosmetology-Fairfield follows.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 21.5% |
| Borrowers in the cohort | 1278 |
The cohort default rate tracks borrowers who entered repayment in a given year and defaulted within the two-year measurement window.
Median debt differs by income tier, first-generation status, and whether the student is financially dependent.
Borrowing by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $6,222 |
| Middle income | $6,078 |
| High income | $4,584 |
First-Gen vs Continuing-Gen Borrowing
| Cohort | Median federal debt |
|---|---|
| First-generation students | $6,078 |
| Continuing-generation students | $5,768 |
Dependent vs Independent Borrowers
| Cohort | Median federal debt |
|---|---|
| Dependent students | $4,584 |
| Independent students | $6,333 |
Federal data publishes the following gap measures for Milan Institute of Cosmetology-Fairfield.
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.