by our College Data Analytics TeamBelow is federal data on the loans students use to pay for Opelousas School of Cosmetology: median debt, the percentile spread, total borrowing including PLUS loans, and the cost to repay. The data below is drawn directly from federal sources.
At Opelousas School of Cosmetology specifically, 62% of freshmen borrow to help pay for their first year, borrowing on average $6,313 each — a figure that counts both private and federal student loans.
The average federally funded loan is $6,313. That is at or past the $5,500 federal first-year limit for the typical dependent freshman. Note that average undergraduate loan amounts shown later do not include private loans — so the full freshman figure above is not directly comparable.
Among all degree-seeking undergrads at Opelousas School of Cosmetology, 52% rely on federal student loans toward their education, for a typical $6,695 each per year. This is 6.1% higher than the $6,313 borrowed by freshmen.
Borrowing at that rate every year works out to about $13,390 by year two and around $26,780 over four years. These projections assume the same federal borrowing each year and exclude private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 52% |
| Average federal loan per year | $6,695 |
| Undergraduates with a federal loan | 24 |
| Total federal loans (one year) | $160,687 |
The median student at Opelousas School of Cosmetology borrows $6,500 of cumulative federal debt.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $6,500 |
Repayment burden translates the debt figures into what a borrower actually pays each month. Opelousas School of Cosmetology.
Defaulting means failing to repay a federal student loan, which carries serious credit consequences. The federal two-year cohort default rate for Opelousas School of Cosmetology follows.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 8.6% |
| Borrowers in the cohort | 7 |
The cohort default rate tracks borrowers who entered repayment in a given year and defaulted within the two-year measurement window.
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.
Important to Remember
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.