by our College Data Analytics TeamHere you will find what students actually borrow to attend Mystros Barber Academy— how much they borrow, how that debt is spread across the student body, and what it costs to pay back. The data below is drawn directly from federal sources.
At Mystros Barber Academy, 38% of incoming students take out a loan to help cover first-year costs, for an average of $4,056 each — a figure that counts both private and federal student loans.
Federal loans alone average $4,056, equal to roughly 73.7% 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.
Across the full undergraduate body at Mystros Barber Academy (freshmen included), 46% borrow through federal student loan programs, for a typical $4,010 a year. This works out to 1.1% below the freshman federal average of $4,056.
Carrying that yearly figure forward comes to roughly $8,020 across two years and $16,040 by the fourth year. This assumes steady federal borrowing and leaves out private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 46% |
| Average federal loan per year | $4,010 |
| Undergraduates with a federal loan | 25 |
| Total federal loans (one year) | $100,259 |
Graduating and withdrawing students at Mystros Barber Academy carry a median federal debt of $7,959 of cumulative federal debt.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $7,959 |
These figures turn the debt totals into a monthly repayment picture for Mystros Barber Academy.
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.
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.