by our College Data Analytics TeamBelow is federal data on the loans students use to pay for Southeastern College-Charlotte— 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.
Among first-year students at Southeastern College - Charlotte, 92% of freshmen borrow to help pay for their first year, at roughly $14,427 apiece. This figure includes both private and federally funded student loans.
The typical federal loan comes to $8,738. This reaches or tops the $5,500 first-year federal borrowing cap for a typical dependent student. Keep in mind the all-undergraduate averages further down count federal loans only, unlike this private-plus-federal freshman figure.
Among all degree-seeking undergrads at Southeastern College - Charlotte, 91% finance part of their studies with federal loans, averaging $8,980 each per year. That amounts to 2.8% above the $8,738 typical freshmen borrow.
Repeating that yearly amount projects to about $17,960 after two years and $35,920 over a four-year span. This assumes steady federal borrowing and leaves out private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 91% |
| Average federal loan per year | $8,980 |
| Undergraduates with a federal loan | 198 |
| Total federal loans (one year) | $1,777,968 |
Graduating and withdrawing students at Southeastern College - Charlotte carry a median federal debt of $9,500 of cumulative federal debt.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $9,500 |
| Students who completed (graduates) | $9,500 |
| Students who withdrew | $5,114 |
Withdrawn-student debt matters because those borrowers carry the loans without the degree that helps repay them.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 Southeastern College - Charlotte.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $2,750 |
| 25th percentile | $5,500 |
| 75th percentile | $9,500 |
| 90th percentile (highest-debt students) | $14,422 |
The gap between the 10th and 90th percentile is the clearest single measure of how widely borrowing varies at Southeastern College - Charlotte.
Median federal debt understates the full cost when PLUS loans are included. The totals below add PLUS borrowing for Southeastern College - Charlotte.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 101 | $9,485 |
| Completed (graduates) | 75 | $9,405 |
| Did not complete | 26 | $9,989 |
For students who completed, the median total debt including PLUS loans works out to a standard 10-year payment of about $111.84/mo.
The split below distinguishes Stafford borrowers from non-Stafford borrowers at Southeastern College - Charlotte.
Stafford This Year vs Not
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 85 | — |
| No Stafford loan this year | 16 | — |
The indicators below describe what the typical debt costs to pay back at Southeastern College - Charlotte.
Defaulting means failing to repay a federal student loan, which carries serious credit consequences. The official Department of Education two-year default rate for Southeastern College - Charlotte appears below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 7.5% |
| Borrowers in the cohort | 449 |
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.
Median Debt by Income Bracket
| Income tier | Median federal debt |
|---|---|
| Low income | $9,500 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $9,500 |
| Continuing-generation students | $9,420 |
Dependent vs Independent Borrowers
| Cohort | Median federal debt |
|---|---|
| Dependent students | $5,695 |
| Independent students | $9,500 |
Federal data publishes the following gap measures for Southeastern College - Charlotte.
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.
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.