by our College Data Analytics TeamBelow is federal data on the loans students use to pay for North Florida Cosmetology Institute Inc— how much they borrow, how that debt is spread across the student body, and what it costs to pay back. These figures are reported by the Department of Education and IPEDS.
At NFCI, 73% of incoming students take out a loan to help cover first-year costs, for an average of $6,744 per student, private and federal loans combined.
The typical federal loan comes to $6,744. This reaches or tops the $5,500 first-year federal borrowing cap for a typical dependent student. Bear in mind the undergraduate averages later on cover federal loans only, whereas this freshman total folds in private loans too.
Counting every undergraduate at NFCI, 65% finance part of their studies with federal loans, at an average of $6,147 per year. That amounts to 8.9% lower than the $6,744 borrowed by freshmen.
At a steady annual pace, that totals around $12,294 after two years and $24,588 over a four-year span. The estimate holds federal borrowing constant and does not count private or Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 65% |
| Average federal loan per year | $6,147 |
| Undergraduates with a federal loan | 91 |
| Total federal loans (one year) | $559,403 |
The median student at NFCI borrows $6,334 of cumulative federal debt.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $6,334 |
| Students who completed (graduates) | $6,334 |
| Students who withdrew | $3,667 |
Debt carried by students who withdrew is a key risk signal — these borrowers owe money without having earned the credential.
Looking only at the median is misleading — these four percentiles describe the full debt distribution for borrowers at NFCI.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $2,740 |
| 25th percentile | $4,750 |
| 75th percentile | $13,000 |
| 90th percentile (highest-debt students) | $13,000 |
The gap between the 10th and 90th percentile is the clearest single measure of how widely borrowing varies at NFCI.
Repayment burden translates the debt figures into what a borrower actually pays each month. NFCI.
Defaulting means failing to repay a federal student loan, which carries serious credit consequences. The federal two-year cohort default rate for NFCI follows.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 6.3% |
| Borrowers in the cohort | 110 |
The cohort default rate tracks borrowers who entered repayment in a given year and defaulted within the two-year measurement window.
Borrowing varies by family income, by first-generation status, and by dependency status.
Median Debt by Income Bracket
| Income tier | Median federal debt |
|---|---|
| Low income | $6,334 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $6,334 |
| Continuing-generation students | $6,334 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $3,667 |
| Independent students | $6,334 |
These pre-calculated indicators summarize the borrowing gaps between cohorts at NFCI.
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
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.