by our College Data Analytics TeamBelow is federal data on the loans students use to pay for North Central State College, 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 North Central State College, 27% of freshmen borrow to help pay for their first year, at roughly $4,540 apiece. This figure includes both private and federally funded student loans.
The average federally funded loan is $4,540, which is 82.5% of the typical first-year dependent student borrowing cap of $5,500. Note that average undergraduate loan amounts shown later do not include private loans — so the full freshman figure above is not directly comparable.
Looking at all undergraduates at North Central State College, freshmen included, 30% rely on federal student loans toward their education, at an average of $5,350 per year. This works out to 17.8% above the $4,540 borrowed by freshmen.
Borrowing at that rate every year works out to about $10,700 after two years and $21,400 by the fourth year. These figures assume identical federal borrowing each year and omit private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 30% |
| Average federal loan per year | $5,350 |
| Undergraduates with a federal loan | 360 |
| Total federal loans (one year) | $1,925,972 |
Graduating and withdrawing students at North Central State College carry a median federal debt of $4,500 in federal borrowing.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $4,500 |
| Students who completed (graduates) | $8,252 |
| Students who withdrew | $3,500 |
The figure for students who withdrew is worth watching: debt without a completed credential is the hardest to repay.
The median hides the spread, so the percentiles below show cumulative federal debt at four points in the distribution for North Central State College.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $1,083 |
| 25th percentile | $1,834 |
| 75th percentile | $9,000 |
| 90th percentile (highest-debt students) | $13,997 |
The gap between the 10th and 90th percentile is the clearest single measure of how widely borrowing varies at North Central State College.
Median federal debt understates the full cost when PLUS loans are included. The totals below add PLUS borrowing for North Central State College.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 117 | $10,000 |
| Completed (graduates) | 29 | $12,710 |
| Did not complete | 88 | $9,668 |
For students who completed, the median total debt including PLUS loans works out to a standard 10-year payment of about $151.14/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 North Central State College.
Borrowers With a Stafford Loan This Year
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 57 | $8,326 |
| No Stafford loan this year | 60 | $11,913 |
These figures turn the debt totals into a monthly repayment picture for North Central State College.
Defaulting means failing to repay a federal student loan, which carries serious credit consequences. The official Department of Education two-year default rate for North Central State College is shown below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 15.2% |
| Borrowers in the cohort | 1060 |
The cohort default rate tracks borrowers who entered repayment in a given year and defaulted within the two-year measurement window.
Median debt differs by income tier, first-generation status, and whether the student is financially dependent.
Median Debt by Income Bracket
| Income tier | Median federal debt |
|---|---|
| Low income | $4,118 |
| Middle income | $4,413 |
| High income | $5,125 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $4,375 |
| Continuing-generation students | $5,149 |
Dependent vs Independent Borrowers
| Cohort | Median federal debt |
|---|---|
| Dependent students | $4,333 |
| Independent students | $4,500 |
Federal data publishes the following gap measures for North Central State 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.
Worth Knowing
Federal student loans are not discharged in bankruptcy in all but the rarest cases, and the government can withhold part of your income or tax refund if you default.
References
More about our data sources and methodologies.