by our College Data Analytics TeamHere you will find what students actually borrow to attend South Florida Institute of Technology, including completion-adjusted borrowing and a standard repayment estimate. These figures are reported by the Department of Education and IPEDS.
Among first-year students at South Florida Institute of Technology, 16% of incoming students take out a loan to help cover first-year costs, with a typical loan of $8,470 each — a figure that counts both private and federal student loans.
The typical federal loan comes to $8,470. This meets or exceeds the $5,500 cap on first-year federal borrowing for the typical dependent freshman. Bear in mind the undergraduate averages later on cover federal loans only, whereas this freshman total folds in private loans too.
Counting every undergraduate at South Florida Institute of Technology, 18% rely on federal student loans toward their education, at an average of $8,963 each per year. It comes to 5.8% above the freshman federal average of $8,470.
At a steady annual pace, that totals around $17,926 after two years and $35,852 over a four-year span. These figures assume identical federal borrowing each year and omit private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 18% |
| Average federal loan per year | $8,963 |
| Undergraduates with a federal loan | 1,625 |
| Total federal loans (one year) | $14,564,841 |
The median student at South Florida Institute of Technology borrows $9,500 in federal borrowing.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $9,500 |
| Students who completed (graduates) | $9,500 |
| Students who withdrew | $4,750 |
Withdrawn-student debt matters because those borrowers carry the loans without the degree that helps repay them.
Half of all borrowers fall between the 25th and 75th percentiles shown below for South Florida Institute of Technology.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $1,111 |
| 25th percentile | $1,689 |
| 75th percentile | $2,147 |
| 90th percentile (highest-debt students) | $3,381 |
The spread between the lowest- and highest-debt deciles summarizes how variable outcomes are at South Florida Institute of Technology.
Repayment burden translates the debt figures into what a borrower actually pays each month. South Florida Institute of Technology.
Borrowing varies by family income, by first-generation status, and by dependency status.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $9,500 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $9,500 |
| Continuing-generation students | $9,500 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $5,500 |
| Independent students | $9,500 |
The Department of Education computes gap indicators that show how borrowing differs between student groups at South Florida Institute of Technology.
Subsidized vs. 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
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.