by our College Data Analytics TeamHere you will find what students actually borrow to attend Modern Beauty Academy, including completion-adjusted borrowing and a standard repayment estimate. These figures are reported by the Department of Education and IPEDS.
Looking at the entering class at Modern Beauty Academy, 21% of incoming undergraduates borrow in year one, at roughly $5,500 per student, private and federal loans combined.
Federal loans alone average $5,500, representing 100.0% of the typical first-year dependent student borrowing cap of $5,500. Bear in mind the undergraduate averages later on cover federal loans only, whereas this freshman total folds in private loans too.
For undergraduates overall at Modern Beauty Academy, 30% borrow through federal student loan programs, with a mean of $4,960 a year. That is 9.8% below the $5,500 freshmen take on.
Borrowing at that rate every year works out to about $9,920 in two years and roughly $19,840 after four. This projection keeps yearly federal borrowing flat and excludes private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 30% |
| Average federal loan per year | $4,960 |
| Undergraduates with a federal loan | 37 |
| Total federal loans (one year) | $183,523 |
The median student at Modern Beauty Academy borrows $8,143 in federal borrowing.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $8,143 |
Repayment burden translates the debt figures into what a borrower actually pays each month. Modern Beauty Academy.
Defaulting means failing to repay a federal student loan, which carries serious credit consequences. The federal two-year cohort default rate for Modern Beauty Academy is shown below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 15.6% |
| Borrowers in the cohort | 32 |
A lower default rate generally signals that graduates earn enough to manage their loan payments.
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.
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.