by our College Data Analytics TeamBelow is federal data on the loans students use to pay for South Plains College— 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.
For incoming students at South Plains College, 20% of incoming students take out a loan to help cover first-year costs, with a typical loan of $5,011 per borrower, covering both private and federal loans.
On the federal side, the average loan is $5,011, amounting to 91.1% of the $5,500 federal limit that applies to a typical first-year dependent borrower. Bear in mind the undergraduate averages later on cover federal loans only, whereas this freshman total folds in private loans too.
Looking at all undergraduates at South Plains College, freshmen included, 21% take out federal student loans, averaging $5,581 in federal loans per year. It comes to 11.4% larger than the $5,011 typical freshmen borrow.
Carrying that yearly figure forward comes to roughly $11,162 in two years and roughly $22,324 after four. These figures assume identical federal borrowing each year and omit private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 21% |
| Average federal loan per year | $5,581 |
| Undergraduates with a federal loan | 1,290 |
| Total federal loans (one year) | $7,199,571 |
The middle borrower at South Plains College owes $6,724 of cumulative federal debt.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $6,724 |
| Students who completed (graduates) | $10,500 |
| Students who withdrew | $6,334 |
Debt carried by students who withdrew is a key risk signal — these borrowers owe money without having earned the credential.
Looking only at the median is misleading — these four percentiles describe the full debt distribution for borrowers at South Plains College.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $1,862 |
| 25th percentile | $3,000 |
| 75th percentile | $12,000 |
| 90th percentile (highest-debt students) | $22,138 |
The spread between the lowest- and highest-debt deciles summarizes how variable outcomes are at South Plains College.
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 South Plains College.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 414 | $9,500 |
| Completed (graduates) | 40 | $8,594 |
| Did not complete | 374 | $9,568 |
Completers face an estimated standard 10-year monthly payment on their PLUS-inclusive debt of roughly $102.19/mo.
Federal data lets us separate Stafford borrowers from the rest at South Plains College.
Stafford vs Non-Stafford (any year)
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Used a Stafford loan | 391 | $9,500 |
| No Stafford loan | 23 | $9,292 |
Current-Year Stafford Borrowers
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 197 | $7,790 |
| No Stafford loan this year | 217 | $12,175 |
The indicators below describe what the typical debt costs to pay back at South Plains 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 federal two-year cohort default rate for South Plains College is shown below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 11.8% |
| Borrowers in the cohort | 1732 |
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.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $8,200 |
| Middle income | $6,334 |
| High income | $5,500 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $7,000 |
| Continuing-generation students | $5,500 |
Dependent vs Independent Borrowers
| Cohort | Median federal debt |
|---|---|
| Dependent students | $5,500 |
| Independent students | $9,500 |
Federal data publishes the following gap measures for South Plains College.
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.
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.