by our College Data Analytics TeamBelow is federal data on the loans students use to pay for Pennsylvania Gunsmith School, including completion-adjusted borrowing and a standard repayment estimate. These figures are reported by the Department of Education and IPEDS.
Looking at the entering class at Pennsylvania Gunsmith School, 36% of freshmen borrow to help pay for their first year, with a typical loan of $8,750 per borrower, covering both private and federal loans.
The average federal loan is $6,250. That sits at or beyond the $5,500 first-year federal limit for a typical dependent student. Bear in mind the undergraduate averages later on cover federal loans only, whereas this freshman total folds in private loans too.
Among all degree-seeking undergrads at Pennsylvania Gunsmith School, 45% take out federal student loans, at an average of $6,015 in federal loans per year. That amounts to 3.8% less than the $6,250 freshmen take on.
At a steady annual pace, that totals around $12,030 by year two and around $24,060 after four. These figures assume identical federal borrowing each year and omit private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 45% |
| Average federal loan per year | $6,015 |
| Undergraduates with a federal loan | 40 |
| Total federal loans (one year) | $240,595 |
Graduating and withdrawing students at Pennsylvania Gunsmith School carry a median federal debt of $12,000 in federal student loans.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $12,000 |
The median hides the spread, so the percentiles below show cumulative federal debt at four points in the distribution for Pennsylvania Gunsmith School.
| Percentile | Cumulative Federal Debt |
|---|---|
| 25th percentile | $10,000 |
| 75th percentile | $15,760 |
The indicators below describe what the typical debt costs to pay back at Pennsylvania Gunsmith School.
Defaulting means failing to repay a federal student loan, which carries serious credit consequences. The federal two-year cohort default rate for Pennsylvania Gunsmith School follows.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 4.4% |
| Borrowers in the cohort | 27 |
This rate follows a borrower cohort from the start of repayment through the two-year window the Department of Education uses.
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.
Worth Knowing
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.