by our College Data Analytics TeamBelow is federal data on the loans students use to pay for Ray J’s College of Hair: median debt, the percentile spread, total borrowing including PLUS loans, and the cost to repay. The data below is drawn directly from federal sources.
Among first-year students at Ray J’s College of Hair, 83% of incoming students take out a loan to help cover first-year costs, for an average of $6,425 each — a figure that counts both private and federal student loans.
Federal loans alone average $6,425. 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.
Looking at all undergraduates at Ray J’s College of Hair, freshmen included, 97% finance part of their studies with federal loans, borrowing on average $1,036 a year. That amounts to 83.9% under the $6,425 typical freshmen borrow.
Borrowing the same amount each year would add up to roughly $2,072 in two years and roughly $4,144 by the fourth year. This assumes steady federal borrowing and leaves out private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 97% |
| Average federal loan per year | $1,036 |
| Undergraduates with a federal loan | 62 |
| Total federal loans (one year) | $64,250 |
The median student at Ray J’s College of Hair borrows $9,833 in federal student loans.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $9,833 |
| Students who completed (graduates) | $14,896 |
The indicators below describe what the typical debt costs to pay back at Ray J’s College of Hair.
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.
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.