by our College Data Analytics TeamBelow is federal data on the loans students use to pay for Minneapolis College of Art and Design, including completion-adjusted borrowing and a standard repayment estimate. These figures are reported by the Department of Education and IPEDS.
For incoming students at MCAD, 75% of freshmen borrow to help pay for their first year, for an average of $8,196 per borrower, covering both private and federal loans.
The typical federal loan comes to $5,427, amounting to 98.7% of the $5,500 federal limit that applies to a typical first-year dependent borrower. 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 MCAD, 75% finance part of their studies with federal loans, for a typical $6,707 each per year. This works out to 23.6% more than the $5,427 borrowed by freshmen.
Repeating that yearly amount projects to about $13,414 in two years and roughly $26,828 across a four-year program. The estimate holds federal borrowing constant and does not count private or Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 75% |
| Average federal loan per year | $6,707 |
| Undergraduates with a federal loan | 525 |
| Total federal loans (one year) | $3,521,181 |
Graduating and withdrawing students at MCAD carry a median federal debt of $19,225 in federal student loans.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $19,225 |
| Students who completed (graduates) | $27,000 |
| Students who withdrew | $8,250 |
Withdrawn-student debt matters because those borrowers carry the loans without the degree that helps repay them.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 MCAD.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $4,750 |
| 25th percentile | $8,750 |
| 75th percentile | $27,000 |
| 90th percentile (highest-debt students) | $35,596 |
How wide this percentile range is tells you how much borrowing varies across students at MCAD.
PLUS loans — taken out by parents or graduate students — add to the total cost of attendance financed by debt at MCAD.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 138 | $24,047 |
| Completed (graduates) | 76 | $30,397 |
| Did not complete | 62 | $20,624 |
Completers face an estimated standard 10-year monthly payment on their PLUS-inclusive debt of roughly $361.45/mo.
The indicators below describe what the typical debt costs to pay back at MCAD.
A loan default — failing to keep up with federal student-loan payments — is one of the worst financial outcomes a borrower can face. The official Department of Education two-year default rate for MCAD follows.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 4.6% |
| Borrowers in the cohort | 237 |
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.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $21,500 |
| Middle income | $20,500 |
| High income | $15,250 |
First-Gen vs Continuing-Gen Borrowing
| Cohort | Median federal debt |
|---|---|
| First-generation students | $19,000 |
| Continuing-generation students | $19,500 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $19,000 |
| Independent students | $21,275 |
These pre-calculated indicators summarize the borrowing gaps between cohorts at MCAD.
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.
Important to Remember
Unlike most other debt, federal student loans generally survive bankruptcy — and unpaid balances can lead to wage garnishment — so borrow only what you truly need.
References
More about our data sources and methodologies.