by our College Data Analytics TeamBelow is federal data on the loans students use to pay for Piedmont University, including completion-adjusted borrowing and a standard repayment estimate. All figures come from the U.S. Department of Education and IPEDS.
Looking at the entering class at Piedmont College, 67% of new students use loans toward freshman-year expenses, averaging $8,037 per student, private and federal loans combined.
The average federal loan is $5,529. This reaches or tops the $5,500 first-year federal borrowing cap 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.
Across the full undergraduate body at Piedmont College (freshmen included), 66% finance part of their studies with federal loans, with a mean of $7,306 in federal loans per year. That amounts to 32.1% above the $5,529 borrowed by freshmen.
Carrying that yearly figure forward comes to roughly $14,612 across two years and $29,224 over four years. This projection keeps yearly federal borrowing flat and excludes private and Parent PLUS loans.Undergraduate federal borrowing Value Share using federal loans 66% Average federal loan per year $7,306 Undergraduates with a federal loan 821 Total federal loans (one year) $5,998,044
The middle borrower at Piedmont College owes $18,108 in federal student loans.Borrower group Median federal debt All federal borrowers $18,108 Students who completed (graduates) $25,000 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Withdrawn-student debt matters because those borrowers carry the loans without the degree that helps repay them.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 Piedmont College.Percentile Cumulative Federal Debt 10th percentile (lowest-debt students) $4,266 25th percentile $6,500 75th percentile $26,996 90th percentile (highest-debt students) $36,618
The spread between the lowest- and highest-debt deciles summarizes how variable outcomes are at Piedmont College.
Median federal debt understates the full cost when PLUS loans are included. The totals below add PLUS borrowing for Piedmont College.Group Borrowers Median debt incl. PLUS All borrowers 407 $15,000 Completed (graduates) 283 $14,872 Did not complete 124 $15,115
Completers face an estimated standard 10-year monthly payment on their PLUS-inclusive debt of roughly $176.84/mo.
Stafford loans are the federal direct-loan program most undergraduates use. The breakdown below separates borrowers who used Stafford loans from those who did not at Piedmont College.
Stafford This Year vs NotCohort Borrowers Median debt incl. PLUS Stafford loan this year 371 $15,120 No Stafford loan this year 36 $12,904
The indicators below describe what the typical debt costs to pay back at Piedmont College.
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 Piedmont College follows.Metric Value 2-year cohort default rate 4.6% Borrowers in the cohort 1173
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.
By Family IncomeIncome tier Median federal debt Low income $18,250 Middle income $18,863 High income $15,500
By First-Generation StatusCohort Median federal debt First-generation students $18,750 Continuing-generation students $15,650
Dependency-Status ComparisonCohort Median federal debt Dependent students $16,650 Independent students $22,229
The Department of Education computes gap indicators that show how borrowing differs between student groups at Piedmont College.
Subsidized vs. Unsubsidized Loans
With an unsubsidized loan, interest starts adding up the day the loan is disbursed, including during school. Subsidized loans, by contrast, do not accrue interest while you are enrolled at least half-time, which makes them the less expensive option when you qualify.
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.