by our College Data Analytics TeamBelow is federal data on the loans students use to pay for Paul Mitchell the School Grand Rapids— 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 Paul Mitchell the School Grand Rapids, 74% of new students use loans toward freshman-year expenses, with a typical loan of $8,490 per student, private and federal loans combined.
On the federal side, the average loan is $8,490. This reaches or tops the $5,500 first-year federal borrowing cap for a typical dependent student. Be aware: the undergraduate-wide averages below exclude private loans, while this freshman number includes them.
Across the full undergraduate body at Paul Mitchell the School Grand Rapids (freshmen included), 58% rely on federal student loans toward their education, borrowing on average $6,800 per year. This is 19.9% smaller than the $8,490 typical freshmen borrow.
Repeating that yearly amount projects to about $13,600 in two years and roughly $27,200 over a four-year span. These figures assume identical federal borrowing each year and omit private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 58% |
| Average federal loan per year | $6,800 |
| Undergraduates with a federal loan | 68 |
| Total federal loans (one year) | $462,407 |
Graduating and withdrawing students at Paul Mitchell the School Grand Rapids carry a median federal debt of $7,977 in federal student loans.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $7,977 |
| Students who completed (graduates) | $9,833 |
| Students who withdrew | $4,750 |
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 Paul Mitchell the School Grand Rapids.
| Percentile | Cumulative Federal Debt |
|---|---|
| 25th percentile | $4,750 |
| 75th percentile | $9,833 |
The indicators below describe what the typical debt costs to pay back at Paul Mitchell the School Grand Rapids.
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 | $8,287 |
| Middle income | $7,360 |
| High income | $9,159 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $7,666 |
| Continuing-generation students | $9,814 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $7,666 |
| Independent students | $9,500 |
Federal data publishes the following gap measures for Paul Mitchell the School Grand Rapids.
The Difference Between 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?
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.