by our College Data Analytics TeamHere you will find what students actually borrow to attend Onondaga Cortland Madison BOCES— 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 Onondaga Cortland Madison BOCES, 52% of incoming undergraduates borrow in year one, with a typical loan of $5,664 each — a figure that counts both private and federal student loans.
The typical federal loan comes to $5,553. This is at or above the $5,500 first-year federal borrowing cap that applies to the typical dependent freshman. Bear in mind the undergraduate averages later on cover federal loans only, whereas this freshman total folds in private loans too.
Looking at all undergraduates at Onondaga Cortland Madison BOCES, freshmen included, 61% use federal student loans to help pay for their education, at an average of $6,978 per year. That is 25.7% above the $5,553 borrowed by freshmen.
Borrowing at that rate every year works out to about $13,956 by year two and around $27,912 over four years. This assumes steady federal borrowing and leaves out private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 61% |
| Average federal loan per year | $6,978 |
| Undergraduates with a federal loan | 346 |
| Total federal loans (one year) | $2,414,548 |
The median student at Onondaga Cortland Madison BOCES borrows $5,792 in federal student loans.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $5,792 |
| Students who completed (graduates) | $6,419 |
| Students who withdrew | $4,275 |
Withdrawn-student debt matters because those borrowers carry the loans without the degree that helps repay them.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 Onondaga Cortland Madison BOCES.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $2,481 |
| 25th percentile | $4,233 |
| 75th percentile | $8,233 |
| 90th percentile (highest-debt students) | $9,500 |
The gap between the 10th and 90th percentile is the clearest single measure of how widely borrowing varies at Onondaga Cortland Madison BOCES.
The figures above count only the students own federal loans. Adding PLUS loans (borrowed by parents or graduate students) gives a fuller picture of total borrowing at Onondaga Cortland Madison BOCES.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 75 | $7,558 |
Repayment burden translates the debt figures into what a borrower actually pays each month. Onondaga Cortland Madison BOCES.
A loan default — failing to keep up with federal student-loan payments — is one of the worst financial outcomes a borrower can face. The official Department of Education two-year default rate for Onondaga Cortland Madison BOCES follows.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 8.5% |
| Borrowers in the cohort | 607 |
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 | $7,100 |
| Middle income | $5,394 |
| High income | $5,500 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $6,123 |
| Continuing-generation students | $5,500 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $4,766 |
| Independent students | $7,546 |
These pre-calculated indicators summarize the borrowing gaps between cohorts at Onondaga Cortland Madison BOCES.
The Difference Between Subsidized and Unsubsidized Loans
Unsubsidized federal student loans accrue interest every month — even while you are still enrolled. Unless you pay that interest as it builds, the balance you owe at graduation can be noticeably higher than the amount you originally borrowed.
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.