by our College Data Analytics TeamHere you will find what students actually borrow to attend Morris College: median debt, the percentile spread, total borrowing including PLUS loans, and the cost to repay. These figures are reported by the Department of Education and IPEDS.
At Morris College specifically, 100% of incoming students take out a loan to help cover first-year costs, at roughly $4,736 each, across private and federal loan sources.
The average federal loan is $4,736, which is 86.1% of the $5,500 first-year federal borrowing limit for a typical dependent freshman. Remember the all-undergraduate figures below leave out private loans, so they will look lower than this private-plus-federal freshman amount.
Across the full undergraduate body at Morris College (freshmen included), 100% use federal student loans to help pay for their education, for a typical $6,089 per year. This works out to 28.6% larger than the $4,736 borrowed by freshmen.
At a steady annual pace, that totals around $12,178 in two years and roughly $24,356 across a four-year program. These figures assume identical federal borrowing each year and omit private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 100% |
| Average federal loan per year | $6,089 |
| Undergraduates with a federal loan | 426 |
| Total federal loans (one year) | $2,594,023 |
The median student at Morris College borrows $14,750 in federal student loans.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $14,750 |
| Students who completed (graduates) | $31,400 |
| Students who withdrew | $9,500 |
The figure for students who withdrew is worth watching: debt without a completed credential is the hardest to repay.
Half of all borrowers fall between the 25th and 75th percentiles shown below for Morris College.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,500 |
| 25th percentile | $5,500 |
| 75th percentile | $29,000 |
| 90th percentile (highest-debt students) | $40,200 |
How wide this percentile range is tells you how much borrowing varies across students at Morris College.
PLUS loans — taken out by parents or graduate students — add to the total cost of attendance financed by debt at Morris College.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 196 | $6,600 |
| Completed (graduates) | 80 | $9,665 |
| Did not complete | 116 | $5,550 |
Completers face an estimated standard 10-year monthly payment on their PLUS-inclusive debt of roughly $114.93/mo.
The indicators below describe what the typical debt costs to pay back at Morris College.
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 Morris College follows.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 27.2% |
| Borrowers in the cohort | 352 |
This rate follows a borrower cohort from the start of repayment through the two-year window the Department of Education uses.
The breakdowns below show median federal debt by income, first-generation status, and dependency.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $12,300 |
| Middle income | $19,250 |
| High income | $24,699 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $14,750 |
| Continuing-generation students | $13,300 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $13,000 |
| Independent students | $18,150 |
These pre-calculated indicators summarize the borrowing gaps between cohorts at Morris College.
Subsidized vs. Unsubsidized Loans
Subsidized loans pause interest while you are in school; unsubsidized loans do not. That difference compounds over four years, so the type of loan you take matters as much as the amount.
Important to Remember
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.