by our College Data Analytics TeamThis page focuses on the debt students take on to attend Monmouth County Vocational School District— how much they borrow, how that debt is spread across the student body, and what it costs to pay back. All figures come from the U.S. Department of Education and IPEDS.
Among first-year students at MCVSD, 22% of incoming undergraduates borrow in year one, averaging $5,787 each — a figure that counts both private and federal student loans.
The average federally funded loan is $5,787. 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.
Across the full undergraduate body at MCVSD (freshmen included), 22% borrow through federal student loan programs, with a mean of $5,787 in federal loans per year.
Borrowing at that rate every year works out to about $11,574 over two years and about $23,148 after four. The estimate holds federal borrowing constant and does not count private or Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 22% |
| Average federal loan per year | $5,787 |
| Undergraduates with a federal loan | 15 |
| Total federal loans (one year) | $86,807 |
Graduating and withdrawing students at MCVSD carry a median federal debt of $5,500 of cumulative federal debt.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $5,500 |
The median hides the spread, so the percentiles below show cumulative federal debt at four points in the distribution for MCVSD.
| Percentile | Cumulative Federal Debt |
|---|---|
| 25th percentile | $2,500 |
| 75th percentile | $5,500 |
These figures turn the debt totals into a monthly repayment picture for MCVSD.
The default rate measures how many borrowers fall behind and ultimately fail to repay their federal loans. The federal two-year cohort default rate for MCVSD appears below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 8.0% |
| Borrowers in the cohort | 62 |
The cohort default rate tracks borrowers who entered repayment in a given year and defaulted within the two-year measurement window.
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.
Did You Know?
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.