by our College Data Analytics TeamHere you will find what students actually borrow to attend Montana State University, including completion-adjusted borrowing and a standard repayment estimate. All figures come from the U.S. Department of Education and IPEDS.
Looking at the entering class at MSU Bozeman, 39% of incoming students take out a loan to help cover first-year costs, with a typical loan of $9,970 apiece. This figure includes both private and federally funded student loans.
On the federal side, the average loan is $5,185, or about 94.3% of the $5,500 first-year federal borrowing limit for a typical dependent freshman. Keep in mind the all-undergraduate averages further down count federal loans only, unlike this private-plus-federal freshman figure.
Looking at all undergraduates at MSU Bozeman, freshmen included, 32% rely on federal student loans toward their education, averaging $6,195 per year. This works out to 19.5% above the $5,185 borrowed by freshmen.
Borrowing at that rate every year works out to about $12,390 over two years and about $24,780 across a four-year program. This assumes steady federal borrowing and leaves out private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 32% |
| Average federal loan per year | $6,195 |
| Undergraduates with a federal loan | 4,668 |
| Total federal loans (one year) | $28,915,957 |
The middle borrower at MSU Bozeman owes $13,748 in federal borrowing.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $13,748 |
| Students who completed (graduates) | $22,500 |
| Students who withdrew | $8,250 |
The figure for students who withdrew is worth watching: debt without a completed credential is the hardest to repay.
Looking only at the median is misleading — these four percentiles describe the full debt distribution for borrowers at MSU Bozeman.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,500 |
| 25th percentile | $5,500 |
| 75th percentile | $26,000 |
| 90th percentile (highest-debt students) | $36,500 |
How wide this percentile range is tells you how much borrowing varies across students at MSU Bozeman.
PLUS loans — taken out by parents or graduate students — add to the total cost of attendance financed by debt at MSU Bozeman.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 2183 | $20,820 |
| Completed (graduates) | 1078 | $25,000 |
| Did not complete | 1105 | $17,625 |
Completers face an estimated standard 10-year monthly payment on their PLUS-inclusive debt of roughly $297.28/mo.
Stafford loans are the federal direct-loan program most undergraduates use. The breakdown below separates borrowers who used Stafford loans from those who did not at MSU Bozeman.
Stafford vs Non-Stafford (any year)
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Used a Stafford loan | 2083 | $21,385 |
| No Stafford loan | 100 | $13,695 |
Current-Year Stafford Borrowers
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 1949 | $21,820 |
| No Stafford loan this year | 234 | $15,000 |
Repayment burden translates the debt figures into what a borrower actually pays each month. MSU Bozeman.
The default rate measures how many borrowers fall behind and ultimately fail to repay their federal loans. Two-year cohort default-rate data for MSU Bozeman appears below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 4.2% |
| Borrowers in the cohort | 2727 |
A lower default rate generally signals that graduates earn enough to manage their loan payments.
Borrowing varies by family income, by first-generation status, and by dependency status.
Borrowing by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $15,538 |
| Middle income | $14,175 |
| High income | $12,018 |
First-Gen vs Continuing-Gen Borrowing
| Cohort | Median federal debt |
|---|---|
| First-generation students | $14,250 |
| Continuing-generation students | $13,000 |
Dependent vs Independent Borrowers
| Cohort | Median federal debt |
|---|---|
| Dependent students | $12,500 |
| Independent students | $19,000 |
The Department of Education computes gap indicators that show how borrowing differs between student groups at MSU Bozeman.
Subsidized vs. 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
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.