by our College Data Analytics TeamBelow is federal data on the loans students use to pay for Somerset County Technology Center, including completion-adjusted borrowing and a standard repayment estimate. These figures are reported by the Department of Education and IPEDS.
For incoming students at Somerset County Technology Center, 28% of incoming students take out a loan to help cover first-year costs, for an average of $10,030 each, across private and federal loan sources.
Federal loans alone average $10,030. That sits at or beyond the $5,500 first-year federal limit for a typical dependent student. Be aware: the undergraduate-wide averages below exclude private loans, while this freshman number includes them.
Looking at all undergraduates at Somerset County Technology Center, freshmen included, 45% rely on federal student loans toward their education, averaging $7,871 in federal loans per year. This is 21.5% lower than the $10,030 borrowed by freshmen.
Repeating that yearly amount projects to about $15,742 after two years and $31,484 over a four-year span. These projections assume the same federal borrowing each year and exclude private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 45% |
| Average federal loan per year | $7,871 |
| Undergraduates with a federal loan | 27 |
| Total federal loans (one year) | $212,521 |
The middle borrower at Somerset County Technology Center owes $11,500 in federal student loans.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $11,500 |
Half of all borrowers fall between the 25th and 75th percentiles shown below for Somerset County Technology Center.
| Percentile | Cumulative Federal Debt |
|---|---|
| 25th percentile | $10,194 |
| 75th percentile | $17,083 |
These figures turn the debt totals into a monthly repayment picture for Somerset County Technology Center.
The default rate measures how many borrowers fall behind and ultimately fail to repay their federal loans. The official Department of Education two-year default rate for Somerset County Technology Center appears below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 0% |
| Borrowers in the cohort | 19 |
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 | $15,952 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $10,194 |
| Independent students | $17,083 |
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.
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.