by our College Data Analytics TeamBelow is federal data on the loans students use to pay for Mount Sinai Phillips School of Nursing: 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.
Looking at all undergraduates at Phillips School of Nursing, freshmen included, 99% take out federal student loans, with a mean of $14,221 each per year.
Repeating that yearly amount projects to about $28,442 by year two and around $56,884 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 | 99% |
| Average federal loan per year | $14,221 |
| Undergraduates with a federal loan | 270 |
| Total federal loans (one year) | $3,839,751 |
The median student at Phillips School of Nursing borrows $18,750 in federal student loans.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $18,750 |
| Students who completed (graduates) | $19,750 |
| Students who withdrew | $9,500 |
Withdrawn-student debt matters because those borrowers carry the loans without the degree that helps repay them.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 Phillips School of Nursing.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $4,750 |
| 25th percentile | $9,500 |
| 75th percentile | $20,000 |
| 90th percentile (highest-debt students) | $26,250 |
The gap between the 10th and 90th percentile is the clearest single measure of how widely borrowing varies at Phillips School of Nursing.
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 Phillips School of Nursing.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 48 | $19,227 |
Repayment burden translates the debt figures into what a borrower actually pays each month. Phillips School of Nursing.
A loan default — failing to keep up with federal student-loan payments — is one of the worst financial outcomes a borrower can face. The federal two-year cohort default rate for Phillips School of Nursing is shown below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 1.6% |
| Borrowers in the cohort | 60 |
A lower default rate generally signals that graduates earn enough to manage their loan payments.
Median debt differs by income tier, first-generation status, and whether the student is financially dependent.
Borrowing by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $18,750 |
| Middle income | $19,938 |
| High income | $8,250 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $18,750 |
| Continuing-generation students | $20,000 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $13,993 |
| Independent students | $20,000 |
The Department of Education computes gap indicators that show how borrowing differs between student groups at Phillips School of Nursing.
Subsidized vs. 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
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.