by our College Data Analytics TeamBelow is federal data on the loans students use to pay for Rasmussen University-North Dakota: 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.
Across the full undergraduate body at Rasmussen University - North Dakota (freshmen included), 68% finance part of their studies with federal loans, averaging $9,600 per year.
At a steady annual pace, that totals around $19,200 across two years and $38,400 over four years. This assumes steady federal borrowing and leaves out private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 68% |
| Average federal loan per year | $9,600 |
| Undergraduates with a federal loan | 32 |
| Total federal loans (one year) | $307,207 |
The middle borrower at Rasmussen University - North Dakota owes $13,000 in federal borrowing.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $13,000 |
| Students who completed (graduates) | $20,899 |
| Students who withdrew | $6,334 |
Withdrawn-student debt matters because those borrowers carry the loans without the degree that helps repay them.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 Rasmussen University - North Dakota.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $1,900 |
| 25th percentile | $3,668 |
| 75th percentile | $19,987 |
| 90th percentile (highest-debt students) | $29,799 |
How wide this percentile range is tells you how much borrowing varies across students at Rasmussen University - North Dakota.
PLUS loans — taken out by parents or graduate students — add to the total cost of attendance financed by debt at Rasmussen University - North Dakota.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 2419 | $10,000 |
| Completed (graduates) | 1216 | $10,562 |
| Did not complete | 1203 | $9,727 |
For students who completed, the median total debt including PLUS loans works out to a standard 10-year payment of about $125.59/mo.
Federal data lets us separate Stafford borrowers from the rest at Rasmussen University - North Dakota.
Stafford vs Non-Stafford (any year)
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Used a Stafford loan | 2402 | — |
| No Stafford loan | 17 | — |
Current-Year Stafford Borrowers
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 2077 | $10,000 |
| No Stafford loan this year | 342 | $10,260 |
Repayment burden translates the debt figures into what a borrower actually pays each month. Rasmussen University - North Dakota.
A loan default — failing to keep up with federal student-loan payments — is one of the worst financial outcomes a borrower can face. The official Department of Education two-year default rate for Rasmussen University - North Dakota appears below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 14.5% |
| Borrowers in the cohort | 13184 |
This rate follows a borrower cohort from the start of repayment through the two-year window the Department of Education uses.
The breakdowns below show median federal debt by income, first-generation status, and dependency.
Borrowing by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $12,500 |
| Middle income | $14,203 |
| High income | $13,586 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $12,834 |
| Continuing-generation students | $13,845 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $9,834 |
| Independent students | $14,000 |
These pre-calculated indicators summarize the borrowing gaps between cohorts at Rasmussen University - North Dakota.
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.
Did You Know?
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.