by our College Data Analytics TeamHere you will find what students actually borrow to attend Southern Careers Institute-Waco, 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 Southern Careers Institute - Waco, 73% of freshmen borrow to help pay for their first year, at roughly $5,632 each, across private and federal loan sources.
On the federal side, the average loan is $5,573. That is at or past the $5,500 federal first-year limit for the typical dependent freshman. Remember the all-undergraduate figures below leave out private loans, so they will look lower than this private-plus-federal freshman amount.
Counting every undergraduate at Southern Careers Institute - Waco, 59% finance part of their studies with federal loans, borrowing on average $5,156 in federal loans per year. This works out to 7.5% smaller than the freshman federal average of $5,573.
Carrying that yearly figure forward comes to roughly $10,312 in two years and roughly $20,624 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 | 59% |
| Average federal loan per year | $5,156 |
| Undergraduates with a federal loan | 179 |
| Total federal loans (one year) | $922,876 |
The middle borrower at Southern Careers Institute - Waco owes $7,389 of cumulative federal debt.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $7,389 |
| Students who completed (graduates) | $8,708 |
| Students who withdrew | $4,354 |
The figure for students who withdrew is worth watching: debt without a completed credential is the hardest to repay.
Half of all borrowers fall between the 25th and 75th percentiles shown below for Southern Careers Institute - Waco.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $2,687 |
| 25th percentile | $4,750 |
| 75th percentile | $9,500 |
| 90th percentile (highest-debt students) | $9,500 |
The gap between the 10th and 90th percentile is the clearest single measure of how widely borrowing varies at Southern Careers Institute - Waco.
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 Southern Careers Institute - Waco.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 681 | $4,604 |
| Completed (graduates) | 513 | $4,845 |
| Did not complete | 168 | $3,207 |
Completers face an estimated standard 10-year monthly payment on their PLUS-inclusive debt of roughly $57.61/mo.
The split below distinguishes Stafford borrowers from non-Stafford borrowers at Southern Careers Institute - Waco.
Stafford vs Non-Stafford (any year)
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Used a Stafford loan | 658 | $4,690 |
| No Stafford loan | 23 | $1,143 |
Current-Year Stafford Borrowers
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 619 | $4,680 |
| No Stafford loan this year | 62 | $3,198 |
Repayment burden translates the debt figures into what a borrower actually pays each month. Southern Careers Institute - Waco.
Defaulting means failing to repay a federal student loan, which carries serious credit consequences. The official Department of Education two-year default rate for Southern Careers Institute - Waco appears below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 17.5% |
| Borrowers in the cohort | 1631 |
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 | $7,421 |
| Middle income | $7,125 |
| High income | $5,500 |
First-Gen vs Continuing-Gen Borrowing
| Cohort | Median federal debt |
|---|---|
| First-generation students | $7,389 |
| Continuing-generation students | $7,319 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $7,125 |
| Independent students | $7,917 |
The Department of Education computes gap indicators that show how borrowing differs between student groups at Southern Careers Institute - Waco.
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.
Important to Remember
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.