by our College Data Analytics TeamBelow is federal data on the loans students use to pay for Saint Michael’s College, including completion-adjusted borrowing and a standard repayment estimate. The data below is drawn directly from federal sources.
At Saint Michael’s, 60% of freshmen borrow to help pay for their first year, at roughly $11,907 apiece. This figure includes both private and federally funded student loans.
The typical federal loan comes to $7,946. This reaches or tops the $5,500 first-year federal borrowing cap for a typical dependent student. Be aware: the undergraduate-wide averages below exclude private loans, while this freshman number includes them.
Across the full undergraduate body at Saint Michael’s (freshmen included), 59% rely on federal student loans toward their education, borrowing on average $9,873 in federal loans per year. This is 24.3% greater than the $7,946 freshmen take on.
Carrying that yearly figure forward comes to roughly $19,746 after two years and $39,492 across a four-year program. The estimate holds federal borrowing constant and does not count private or Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 59% |
| Average federal loan per year | $9,873 |
| Undergraduates with a federal loan | 677 |
| Total federal loans (one year) | $6,684,344 |
Graduating and withdrawing students at Saint Michael’s carry a median federal debt of $21,500 in federal borrowing.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $21,500 |
| Students who completed (graduates) | $26,922 |
| Students who withdrew | $8,750 |
Withdrawn-student debt matters because those borrowers carry the loans without the degree that helps repay them.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 Saint Michael’s.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $5,500 |
| 25th percentile | $12,000 |
| 75th percentile | $30,000 |
| 90th percentile (highest-debt students) | $32,000 |
How wide this percentile range is tells you how much borrowing varies across students at Saint Michael’s.
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 Saint Michael’s.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 295 | $30,000 |
| Completed (graduates) | 163 | $44,383 |
| Did not complete | 132 | $17,974 |
Completers face an estimated standard 10-year monthly payment on their PLUS-inclusive debt of roughly $527.76/mo.
The split below distinguishes Stafford borrowers from non-Stafford borrowers at Saint Michael’s.
Stafford This Year vs Not
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 201 | $35,357 |
| No Stafford loan this year | 94 | $15,682 |
Repayment burden translates the debt figures into what a borrower actually pays each month. Saint Michael’s.
Defaulting means failing to repay a federal student loan, which carries serious credit consequences. The official Department of Education two-year default rate for Saint Michael’s appears below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 1.9% |
| Borrowers in the cohort | 564 |
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.
Median Debt by Income Bracket
| Income tier | Median federal debt |
|---|---|
| Low income | $19,500 |
| Middle income | $21,500 |
| High income | $23,000 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $21,500 |
| Continuing-generation students | $21,500 |
These pre-calculated indicators summarize the borrowing gaps between cohorts at Saint Michael’s.
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.
Did You Know?
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.