by our College Data Analytics TeamHere you will find what students actually borrow to attend Philander Smith University, 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 Philander Smith, 58% of incoming students take out a loan to help cover first-year costs, at roughly $5,909 apiece. This figure includes both private and federally funded student loans.
The average federally funded loan is $5,681. That sits at or beyond the $5,500 first-year federal limit for a typical dependent student. 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 Philander Smith, 58% borrow through federal student loan programs, for a typical $7,312 in federal loans per year. This is 28.7% more than the first-year federal average of $5,681.
Borrowing at that rate every year works out to about $14,624 after two years and $29,248 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 | $7,312 |
| Undergraduates with a federal loan | 488 |
| Total federal loans (one year) | $3,568,327 |
Graduating and withdrawing students at Philander Smith carry a median federal debt of $14,750 in federal student loans.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $14,750 |
| Students who completed (graduates) | $24,736 |
| Students who withdrew | $12,000 |
Withdrawn-student debt matters because those borrowers carry the loans without the degree that helps repay them.
Half of all borrowers fall between the 25th and 75th percentiles shown below for Philander Smith.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,750 |
| 25th percentile | $5,500 |
| 75th percentile | $27,000 |
| 90th percentile (highest-debt students) | $40,000 |
How wide this percentile range is tells you how much borrowing varies across students at Philander Smith.
The figures above count only the students own federal loans. Adding PLUS loans (borrowed by parents or graduate students) gives a fuller picture of total borrowing at Philander Smith.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 236 | $14,410 |
| Completed (graduates) | 47 | $14,370 |
| Did not complete | 189 | $14,450 |
Completers face an estimated standard 10-year monthly payment on their PLUS-inclusive debt of roughly $170.87/mo.
The indicators below describe what the typical debt costs to pay back at Philander Smith.
The default rate measures how many borrowers fall behind and ultimately fail to repay their federal loans. The official Department of Education two-year default rate for Philander Smith appears below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 14.1% |
| Borrowers in the cohort | 255 |
The cohort default rate tracks borrowers who entered repayment in a given year and defaulted within the two-year measurement window.
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 | $15,000 |
| Middle income | $14,000 |
| High income | $15,000 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $14,890 |
| Continuing-generation students | $14,000 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $14,250 |
| Independent students | $15,480 |
These pre-calculated indicators summarize the borrowing gaps between cohorts at Philander Smith.
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.
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.