by our College Data Analytics TeamHere you will find what students actually borrow to attend Prism Career Institute, West Atlantic City: median debt, the percentile spread, total borrowing including PLUS loans, and the cost to repay. All figures come from the U.S. Department of Education and IPEDS.
At Prism Career Institute specifically, 69% of first-year students take on loan debt, borrowing on average $7,847 each — a figure that counts both private and federal student loans.
Federal loans alone average $6,937. That is at or past the $5,500 federal first-year limit for the typical dependent freshman. Remember the all-undergraduate figures below leave out private loans, so they will look lower than this private-plus-federal freshman amount.
Among all degree-seeking undergrads at Prism Career Institute, 63% borrow through federal student loan programs, borrowing on average $7,601 per year. This is 9.6% greater than the $6,937 freshmen take on.
At a steady annual pace, that totals around $15,202 over two years and about $30,404 over a four-year span. This assumes steady federal borrowing and leaves out private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 63% |
| Average federal loan per year | $7,601 |
| Undergraduates with a federal loan | 254 |
| Total federal loans (one year) | $1,930,670 |
The middle borrower at Prism Career Institute owes $16,645 of cumulative federal debt.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $16,645 |
| Students who completed (graduates) | $17,200 |
| Students who withdrew | $4,750 |
Withdrawn-student debt matters because those borrowers carry the loans without the degree that helps repay them.
The median hides the spread, so the percentiles below show cumulative federal debt at four points in the distribution for Prism Career Institute.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $4,669 |
| 25th percentile | $7,600 |
| 75th percentile | $17,200 |
| 90th percentile (highest-debt students) | $17,200 |
The gap between the 10th and 90th percentile is the clearest single measure of how widely borrowing varies at Prism Career Institute.
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 Prism Career Institute.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 201 | $7,321 |
| Completed (graduates) | 126 | $8,453 |
| Did not complete | 75 | $5,179 |
On a standard 10-year plan, the median completing borrower would pay about $100.52/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 Prism Career Institute.
Stafford This Year vs Not
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 190 | — |
| No Stafford loan this year | 11 | — |
The indicators below describe what the typical debt costs to pay back at Prism Career Institute.
The default rate measures how many borrowers fall behind and ultimately fail to repay their federal loans. Two-year cohort default-rate data for Prism Career Institute follows.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 27.1% |
| Borrowers in the cohort | 1025 |
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 | $16,458 |
| Middle income | $16,892 |
| High income | $13,200 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $16,625 |
| Continuing-generation students | $17,093 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $10,176 |
| Independent students | $17,092 |
These pre-calculated indicators summarize the borrowing gaps between cohorts at Prism Career Institute.
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.
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.