by our College Data Analytics TeamThis page focuses on the debt students take on to attend Oakwood University, including completion-adjusted borrowing and a standard repayment estimate. The data below is drawn directly from federal sources.
Looking at the entering class at Oakwood, 77% of incoming students take out a loan to help cover first-year costs, for an average of $6,455 per borrower, covering both private and federal loans.
The average federally funded loan is $6,029. That sits at or beyond the $5,500 first-year federal limit for a typical dependent student. Be aware: the undergraduate-wide averages below exclude private loans, while this freshman number includes them.
Looking at all undergraduates at Oakwood, freshmen included, 58% rely on federal student loans toward their education, for a typical $6,972 per year. This is 15.6% above the $6,029 borrowed by freshmen.
At a steady annual pace, that totals around $13,944 across two years and $27,888 after four. This projection keeps yearly federal borrowing flat and excludes private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 58% |
| Average federal loan per year | $6,972 |
| Undergraduates with a federal loan | 757 |
| Total federal loans (one year) | $5,278,171 |
The middle borrower at Oakwood owes $21,500 in federal student loans.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $21,500 |
| Students who completed (graduates) | $27,000 |
| Students who withdrew | $18,750 |
Withdrawn-student debt matters because those borrowers carry the loans without the degree that helps repay them.
Half of all borrowers fall between the 25th and 75th percentiles shown below for Oakwood.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $5,500 |
| 25th percentile | $12,500 |
| 75th percentile | $37,250 |
| 90th percentile (highest-debt students) | $46,500 |
The gap between the 10th and 90th percentile is the clearest single measure of how widely borrowing varies at Oakwood.
PLUS loans — taken out by parents or graduate students — add to the total cost of attendance financed by debt at Oakwood.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 396 | $20,583 |
| Completed (graduates) | 101 | $20,000 |
| Did not complete | 295 | $21,062 |
On a standard 10-year plan, the median completing borrower would pay about $237.82/mo.
Federal data lets us separate Stafford borrowers from the rest at Oakwood.
Borrowers With a Stafford Loan This Year
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 370 | $21,400 |
| No Stafford loan this year | 26 | $14,398 |
The indicators below describe what the typical debt costs to pay back at Oakwood.
The default rate measures how many borrowers fall behind and ultimately fail to repay their federal loans. Two-year cohort default-rate data for Oakwood follows.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 7.7% |
| Borrowers in the cohort | 519 |
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 | $20,500 |
| Middle income | $20,750 |
| High income | $21,500 |
First-Gen vs Continuing-Gen Borrowing
| Cohort | Median federal debt |
|---|---|
| First-generation students | $20,625 |
| Continuing-generation students | $21,500 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $21,500 |
| Independent students | $18,750 |
Federal data publishes the following gap measures for Oakwood.
Subsidized and 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.
Did You Know?
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.