by our College Data Analytics TeamHere you will find what students actually borrow to attend Saint Mary’s College of California— 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.
At SMC specifically, 47% of freshmen borrow to help pay for their first year, averaging $7,396 each — a figure that counts both private and federal student loans.
The average federally funded loan is $4,972, which is 90.4% of the $5,500 federal limit that applies to a typical first-year dependent borrower. Bear in mind the undergraduate averages later on cover federal loans only, whereas this freshman total folds in private loans too.
Among all degree-seeking undergrads at SMC, 42% rely on federal student loans toward their education, at an average of $6,708 annually. This works out to 34.9% more than the $4,972 typical freshmen borrow.
Borrowing at that rate every year works out to about $13,416 after two years and $26,832 by the fourth year. These figures assume identical federal borrowing each year and omit private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 42% |
| Average federal loan per year | $6,708 |
| Undergraduates with a federal loan | 852 |
| Total federal loans (one year) | $5,714,985 |
The median student at SMC borrows $19,500 in federal borrowing.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $19,500 |
| Students who completed (graduates) | $23,691 |
| Students who withdrew | $12,500 |
Withdrawn-student debt matters because those borrowers carry the loans without the degree that helps repay them.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 SMC.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $5,500 |
| 25th percentile | $12,000 |
| 75th percentile | $27,000 |
| 90th percentile (highest-debt students) | $32,000 |
The spread between the lowest- and highest-debt deciles summarizes how variable outcomes are at SMC.
PLUS loans — taken out by parents or graduate students — add to the total cost of attendance financed by debt at SMC.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 565 | $45,035 |
| Completed (graduates) | 367 | $58,000 |
| Did not complete | 198 | $31,324 |
Completers face an estimated standard 10-year monthly payment on their PLUS-inclusive debt of roughly $689.68/mo.
The split below distinguishes Stafford borrowers from non-Stafford borrowers at SMC.
Borrowers With Any Stafford Loan
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Used a Stafford loan | 554 | — |
| No Stafford loan | 11 | — |
Current-Year Stafford Borrowers
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 517 | $46,848 |
| No Stafford loan this year | 48 | $24,657 |
These figures turn the debt totals into a monthly repayment picture for SMC.
Defaulting means failing to repay a federal student loan, which carries serious credit consequences. The official Department of Education two-year default rate for SMC appears below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 3.0% |
| Borrowers in the cohort | 988 |
A lower default rate generally signals that graduates earn enough to manage their loan payments.
Median debt differs by income tier, first-generation status, and whether the student is financially dependent.
Median Debt by Income Bracket
| Income tier | Median federal debt |
|---|---|
| Low income | $23,000 |
| Middle income | $20,500 |
| High income | $19,500 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $20,500 |
| Continuing-generation students | $19,500 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $19,500 |
| Independent students | $25,000 |
These pre-calculated indicators summarize the borrowing gaps between cohorts at SMC.
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.
Did You Know?
Unlike most other debt, federal student loans generally survive bankruptcy — and unpaid balances can lead to wage garnishment — so borrow only what you truly need.
References
More about our data sources and methodologies.