by our College Data Analytics TeamHere you will find what students actually borrow to attend Paul Mitchell the School Great Lakes: median debt, the percentile spread, total borrowing including PLUS loans, and the cost to repay. These figures are reported by the Department of Education and IPEDS.
At Paul Mitchell the School Great Lakes specifically, 65% of first-year students take on loan debt, averaging $8,432 per borrower, covering both private and federal loans.
Federal loans alone average $8,432. This reaches or tops the $5,500 first-year federal borrowing cap for a typical dependent student. Keep in mind the all-undergraduate averages further down count federal loans only, unlike this private-plus-federal freshman figure.
Looking at all undergraduates at Paul Mitchell the School Great Lakes, freshmen included, 38% rely on federal student loans toward their education, borrowing on average $9,823 per year. That is 16.5% higher than the $8,432 borrowed by freshmen.
Borrowing the same amount each year would add up to roughly $19,646 over two years and about $39,292 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 | 38% |
| Average federal loan per year | $9,823 |
| Undergraduates with a federal loan | 38 |
| Total federal loans (one year) | $373,256 |
Graduating and withdrawing students at Paul Mitchell the School Great Lakes carry a median federal debt of $8,389 in federal borrowing.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $8,389 |
| Students who completed (graduates) | $9,667 |
| Students who withdrew | $4,601 |
Withdrawn-student debt matters because those borrowers carry the loans without the degree that helps repay them.
Looking only at the median is misleading — these four percentiles describe the full debt distribution for borrowers at Paul Mitchell the School Great Lakes.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,297 |
| 25th percentile | $5,500 |
| 75th percentile | $11,667 |
| 90th percentile (highest-debt students) | $13,000 |
The gap between the 10th and 90th percentile is the clearest single measure of how widely borrowing varies at Paul Mitchell the School Great Lakes.
PLUS loans — taken out by parents or graduate students — add to the total cost of attendance financed by debt at Paul Mitchell the School Great Lakes.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 38 | $8,487 |
The indicators below describe what the typical debt costs to pay back at Paul Mitchell the School Great Lakes.
A loan default — failing to keep up with federal student-loan payments — is one of the worst financial outcomes a borrower can face. Two-year cohort default-rate data for Paul Mitchell the School Great Lakes is shown below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 18.5% |
| Borrowers in the cohort | 81 |
This rate follows a borrower cohort from the start of repayment through the two-year window the Department of Education uses.
Median debt differs by income tier, first-generation status, and whether the student is financially dependent.
Median Debt by Income Bracket
| Income tier | Median federal debt |
|---|---|
| Low income | $8,445 |
| Middle income | $9,500 |
| High income | $8,389 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $8,445 |
| Continuing-generation students | $8,389 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $7,667 |
| Independent students | $13,000 |
Federal data publishes the following gap measures for Paul Mitchell the School Great Lakes.
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.