by our College Data Analytics TeamBelow is federal data on the loans students use to pay for Palladium Technical Academy— 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 Palladium Technical Academy specifically, 100% of new students use loans toward freshman-year expenses, borrowing on average $5,420 each, across private and federal loan sources.
The average federal loan is $5,420, equal to roughly 98.5% of the $5,500 federal limit that applies to a typical first-year dependent borrower. 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 Palladium Technical Academy, 100% borrow through federal student loan programs, with a mean of $5,420 in federal loans per year.
Carrying that yearly figure forward comes to roughly $10,840 in two years and roughly $21,680 over four years. The estimate holds federal borrowing constant and does not count private or Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 100% |
| Average federal loan per year | $5,420 |
| Undergraduates with a federal loan | 57 |
| Total federal loans (one year) | $308,949 |
Graduating and withdrawing students at Palladium Technical Academy carry a median federal debt of $7,405 of cumulative federal debt.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $7,405 |
| Students who completed (graduates) | $7,755 |
Half of all borrowers fall between the 25th and 75th percentiles shown below for Palladium Technical Academy.
| Percentile | Cumulative Federal Debt |
|---|---|
| 25th percentile | $5,500 |
| 75th percentile | $9,500 |
These figures turn the debt totals into a monthly repayment picture for Palladium Technical Academy.
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 Palladium Technical Academy is shown below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 30.3% |
| Borrowers in the cohort | 112 |
A lower default rate generally signals that graduates earn enough to manage their loan payments.
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.
Worth Knowing
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.