by our College Data Analytics TeamBelow is federal data on the loans students use to pay for Salon & Spa Institute: 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.
At Salon & Spa Institute specifically, 50% of freshmen borrow to help pay for their first year, at roughly $3,827 each, across private and federal loan sources.
The typical federal loan comes to $3,827, representing 69.6% of the $5,500 first-year federal borrowing limit for a 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.
Across the full undergraduate body at Salon & Spa Institute (freshmen included), 30% use federal student loans to help pay for their education, averaging $4,344 a year. That is 13.5% above the $3,827 typical freshmen borrow.
Borrowing at that rate every year works out to about $8,688 across two years and $17,376 by the fourth year. The estimate holds federal borrowing constant and does not count private or Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 30% |
| Average federal loan per year | $4,344 |
| Undergraduates with a federal loan | 41 |
| Total federal loans (one year) | $178,116 |
The median student at Salon & Spa Institute borrows $7,282 of cumulative federal debt.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $7,282 |
| Students who completed (graduates) | $8,212 |
| Students who withdrew | $3,318 |
The figure for students who withdrew is worth watching: debt without a completed credential is the hardest to repay.
Half of all borrowers fall between the 25th and 75th percentiles shown below for Salon & Spa Institute.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,884 |
| 25th percentile | $4,958 |
| 75th percentile | $12,042 |
| 90th percentile (highest-debt students) | $15,000 |
The spread between the lowest- and highest-debt deciles summarizes how variable outcomes are at Salon & Spa Institute.
Median federal debt understates the full cost when PLUS loans are included. The totals below add PLUS borrowing for Salon & Spa Institute.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 24 | $2,447 |
Repayment burden translates the debt figures into what a borrower actually pays each month. Salon & Spa 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 Salon & Spa Institute follows.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 6.4% |
| Borrowers in the cohort | 25 |
The cohort default rate tracks borrowers who entered repayment in a given year and defaulted within the two-year measurement window.
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 | $7,137 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $5,777 |
| Independent students | $7,917 |
The Difference Between Subsidized and Unsubsidized Loans
Subsidized loans pause interest while you are in school; unsubsidized loans do not. That difference compounds over four years, so the type of loan you take matters as much as the amount.
Worth Knowing
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.