by our College Data Analytics TeamHere you will find what students actually borrow to attend Milligan University: median debt, the percentile spread, total borrowing including PLUS loans, and the cost to repay. All figures come from the U.S. Department of Education and IPEDS.
At Milligan, 50% of freshmen borrow to help pay for their first year, averaging $8,811 each — a figure that counts both private and federal student loans.
The typical federal loan comes to $5,383, representing 97.9% of the $5,500 first-year borrowing cap for the typical first-year dependent student. Keep in mind the all-undergraduate averages further down count federal loans only, unlike this private-plus-federal freshman figure.
For undergraduates overall at Milligan, 48% rely on federal student loans toward their education, at an average of $6,512 each per year. It comes to 21.0% greater than the first-year federal average of $5,383.
Borrowing the same amount each year would add up to roughly $13,024 over two years and about $26,048 over four years. The estimate holds federal borrowing constant and does not count private or Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 48% |
| Average federal loan per year | $6,512 |
| Undergraduates with a federal loan | 376 |
| Total federal loans (one year) | $2,448,485 |
The middle borrower at Milligan owes $18,800 in federal borrowing.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $18,800 |
| Students who completed (graduates) | $25,219 |
| Students who withdrew | $7,500 |
Withdrawn-student debt matters because those borrowers carry the loans without the degree that helps repay them.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 Milligan.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $4,500 |
| 25th percentile | $9,250 |
| 75th percentile | $27,000 |
| 90th percentile (highest-debt students) | $34,534 |
The gap between the 10th and 90th percentile is the clearest single measure of how widely borrowing varies at Milligan.
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 Milligan.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 129 | $21,225 |
| Completed (graduates) | 73 | $36,972 |
| Did not complete | 56 | $15,062 |
Completers face an estimated standard 10-year monthly payment on their PLUS-inclusive debt of roughly $439.64/mo.
The split below distinguishes Stafford borrowers from non-Stafford borrowers at Milligan.
Stafford This Year vs Not
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 116 | — |
| No Stafford loan this year | 13 | — |
The indicators below describe what the typical debt costs to pay back at Milligan.
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 Milligan appears below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 1.6% |
| Borrowers in the cohort | 312 |
A lower default rate generally signals that graduates earn enough to manage their loan payments.
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 | $18,500 |
| Middle income | $19,010 |
| High income | $18,063 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $19,474 |
| Continuing-generation students | $16,226 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $17,125 |
| Independent students | $25,000 |
Federal data publishes the following gap measures for Milligan.
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.
Worth Knowing
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.