by our College Data Analytics TeamThis page focuses on the debt students take on to attend Pittsburgh Institute of Mortuary Science Inc— how much they borrow, how that debt is spread across the student body, and what it costs to pay back. All figures come from the U.S. Department of Education and IPEDS.
For incoming students at PIMS, 50% of incoming undergraduates borrow in year one, at roughly $29,031 each, across private and federal loan sources.
On the federal side, the average loan is $9,731. That is at or past the $5,500 federal first-year limit for the typical dependent freshman. Keep in mind the all-undergraduate averages further down count federal loans only, unlike this private-plus-federal freshman figure.
Across the full undergraduate body at PIMS (freshmen included), 45% take out federal student loans, for a typical $9,082 a year. It comes to 6.7% lower than the $9,731 typical freshmen borrow.
Borrowing the same amount each year would add up to roughly $18,164 over two years and about $36,328 over four years. 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 | $9,082 |
| Undergraduates with a federal loan | 202 |
| Total federal loans (one year) | $1,834,474 |
The median student at PIMS borrows $15,009 in federal student loans.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $15,009 |
| Students who completed (graduates) | $19,295 |
| Students who withdrew | $9,500 |
Withdrawn-student debt matters because those borrowers carry the loans without the degree that helps repay them.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 PIMS.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,614 |
| 25th percentile | $7,813 |
| 75th percentile | $22,937 |
| 90th percentile (highest-debt students) | $27,687 |
How wide this percentile range is tells you how much borrowing varies across students at PIMS.
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 PIMS.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 48 | $10,000 |
| Completed (graduates) | 29 | $15,640 |
| Did not complete | 19 | $9,700 |
For students who completed, the median total debt including PLUS loans works out to a standard 10-year payment of about $185.98/mo.
These figures turn the debt totals into a monthly repayment picture for PIMS.
The default rate measures how many borrowers fall behind and ultimately fail to repay their federal loans. Two-year cohort default-rate data for PIMS is shown below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 3.8% |
| Borrowers in the cohort | 78 |
This rate follows a borrower cohort from the start of repayment through the two-year window the Department of Education uses.
Borrowing varies by family income, by first-generation status, and by dependency status.
Median Debt by Income Bracket
| Income tier | Median federal debt |
|---|---|
| Low income | $14,750 |
| Middle income | $16,922 |
| High income | $10,250 |
First-Gen vs Continuing-Gen Borrowing
| Cohort | Median federal debt |
|---|---|
| First-generation students | $15,709 |
| Continuing-generation students | $12,000 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $9,969 |
| Independent students | $17,313 |
These pre-calculated indicators summarize the borrowing gaps between cohorts at PIMS.
The Difference Between Subsidized and 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.
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.