by our College Data Analytics TeamBelow is federal data on the loans students use to pay for Olivet Nazarene University— 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 Olivet Nazarene, 70% of first-year students take on loan debt, at roughly $6,868 per student, private and federal loans combined.
The typical federal loan comes to $5,150, which is 93.6% of the typical first-year dependent student borrowing cap of $5,500. Be aware: the undergraduate-wide averages below exclude private loans, while this freshman number includes them.
For undergraduates overall at Olivet Nazarene, 65% take out federal student loans, averaging $6,268 a year. This is 21.7% higher than the $5,150 typical freshmen borrow.
Repeating that yearly amount projects to about $12,536 after two years and $25,072 by the fourth year. These projections assume the same federal borrowing each year and exclude private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 65% |
| Average federal loan per year | $6,268 |
| Undergraduates with a federal loan | 1,626 |
| Total federal loans (one year) | $10,192,558 |
The median student at Olivet Nazarene borrows $19,313 of cumulative federal debt.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $19,313 |
| Students who completed (graduates) | $25,000 |
| Students who withdrew | $9,500 |
The figure for students who withdrew is worth watching: debt without a completed credential is the hardest to repay.
Half of all borrowers fall between the 25th and 75th percentiles shown below for Olivet Nazarene.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,866 |
| 25th percentile | $7,860 |
| 75th percentile | $27,000 |
| 90th percentile (highest-debt students) | $33,500 |
The spread between the lowest- and highest-debt deciles summarizes how variable outcomes are at Olivet Nazarene.
PLUS loans — taken out by parents or graduate students — add to the total cost of attendance financed by debt at Olivet Nazarene.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 820 | $17,867 |
| Completed (graduates) | 495 | $21,966 |
| Did not complete | 325 | $12,500 |
Completers face an estimated standard 10-year monthly payment on their PLUS-inclusive debt of roughly $261.2/mo.
The split below distinguishes Stafford borrowers from non-Stafford borrowers at Olivet Nazarene.
Current-Year Stafford Borrowers
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 700 | $17,931 |
| No Stafford loan this year | 120 | $15,807 |
Repayment burden translates the debt figures into what a borrower actually pays each month. Olivet Nazarene.
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 Olivet Nazarene appears below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 3.6% |
| Borrowers in the cohort | 1508 |
The cohort default rate tracks borrowers who entered repayment in a given year and defaulted within the two-year measurement window.
The breakdowns below show median federal debt by income, first-generation status, and dependency.
Borrowing by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $14,250 |
| Middle income | $19,000 |
| High income | $21,430 |
First-Gen vs Continuing-Gen Borrowing
| Cohort | Median federal debt |
|---|---|
| First-generation students | $17,750 |
| Continuing-generation students | $20,694 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $20,500 |
| Independent students | $13,140 |
Federal data publishes the following gap measures for Olivet Nazarene.
Subsidized and 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.
Did You Know?
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.