by our College Data Analytics TeamHere you will find what students actually borrow to attend Ohio Northern University, 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 ONU, 62% of first-year students take on loan debt, borrowing on average $10,447 each, across private and federal loan sources.
The average federally funded loan is $5,386, equal to roughly 97.9% of the $5,500 first-year borrowing cap for the typical first-year dependent student. Keep in mind the all-undergraduate averages further down count federal loans only, unlike this private-plus-federal freshman figure.
Among all degree-seeking undergrads at ONU, 59% finance part of their studies with federal loans, borrowing on average $6,484 per year. It comes to 20.4% above the freshman federal average of $5,386.
Borrowing the same amount each year would add up to roughly $12,968 after two years and $25,936 over a four-year span. This assumes steady federal borrowing and leaves out private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 59% |
| Average federal loan per year | $6,484 |
| Undergraduates with a federal loan | 1,415 |
| Total federal loans (one year) | $9,174,478 |
The median student at ONU borrows $24,250 in federal borrowing.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $24,250 |
| Students who completed (graduates) | $27,000 |
| Students who withdrew | $8,750 |
Debt carried by students who withdrew is a key risk signal — these borrowers owe money without having earned the credential.
The median hides the spread, so the percentiles below show cumulative federal debt at four points in the distribution for ONU.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $5,500 |
| 25th percentile | $12,000 |
| 75th percentile | $28,000 |
| 90th percentile (highest-debt students) | $33,000 |
The gap between the 10th and 90th percentile is the clearest single measure of how widely borrowing varies at ONU.
PLUS loans — taken out by parents or graduate students — add to the total cost of attendance financed by debt at ONU.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 332 | $27,600 |
| Completed (graduates) | 237 | $32,246 |
| Did not complete | 95 | $17,120 |
For students who completed, the median total debt including PLUS loans works out to a standard 10-year payment of about $383.44/mo.
These figures turn the debt totals into a monthly repayment picture for ONU.
The default rate measures how many borrowers fall behind and ultimately fail to repay their federal loans. The official Department of Education two-year default rate for ONU follows.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 0.9% |
| Borrowers in the cohort | 833 |
This rate follows a borrower cohort from the start of repayment through the two-year window the Department of Education uses.
Borrowing varies by family income, by first-generation status, and by dependency status.
Borrowing by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $25,000 |
| Middle income | $25,000 |
| High income | $23,562 |
First-Gen vs Continuing-Gen Borrowing
| Cohort | Median federal debt |
|---|---|
| First-generation students | $25,000 |
| Continuing-generation students | $23,752 |
Dependent vs Independent Borrowers
| Cohort | Median federal debt |
|---|---|
| Dependent students | $24,250 |
| Independent students | $25,000 |
These pre-calculated indicators summarize the borrowing gaps between cohorts at ONU.
The Difference Between 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?
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.