by our College Data Analytics TeamBelow is federal data on the loans students use to pay for South Florida Bible College and Theological Seminary— how much they borrow, how that debt is spread across the student body, and what it costs to pay back. These figures are reported by the Department of Education and IPEDS.
At South Florida Bible College specifically, 13% of incoming undergraduates borrow in year one, with a typical loan of $4,500 each — a figure that counts both private and federal student loans.
The average federally funded loan is $4,500, which is 81.8% of the $5,500 first-year borrowing cap for the typical first-year dependent student. 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 South Florida Bible College (freshmen included), 20% take out federal student loans, at an average of $9,494 per year. This works out to 111.0% more than the $4,500 typical freshmen borrow.
Borrowing the same amount each year would add up to roughly $18,988 after two years and $37,976 over four years. These figures assume identical federal borrowing each year and omit private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 20% |
| Average federal loan per year | $9,494 |
| Undergraduates with a federal loan | 54 |
| Total federal loans (one year) | $512,674 |
Looking only at the median is misleading — these four percentiles describe the full debt distribution for borrowers at South Florida Bible College.
| Percentile | Cumulative Federal Debt |
|---|---|
| 25th percentile | $6,467 |
| 75th percentile | $29,500 |
These figures turn the debt totals into a monthly repayment picture for South Florida Bible College.
A loan default — failing to keep up with federal student-loan payments — is one of the worst financial outcomes a borrower can face. The official Department of Education two-year default rate for South Florida Bible College is shown below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 9.0% |
| Borrowers in the cohort | 7 |
A lower default rate generally signals that graduates earn enough to manage their loan payments.
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.