by our College Data Analytics TeamThis page focuses on the debt students take on to attend Southern Maine Community College— how much they borrow, how that debt is spread across the student body, and what it costs to pay back. All figures come from the U.S. Department of Education and IPEDS.
Among first-year students at SMCC, 15% of new students use loans toward freshman-year expenses, with a typical loan of $4,927 per student, private and federal loans combined.
Federal loans alone average $4,595, which is 83.5% of the typical first-year dependent student borrowing cap of $5,500. Be aware: the undergraduate-wide averages below exclude private loans, while this freshman number includes them.
Among all degree-seeking undergrads at SMCC, 16% take out federal student loans, for a typical $5,125 a year. That is 11.5% greater than the first-year federal average of $4,595.
Carrying that yearly figure forward comes to roughly $10,250 across two years and $20,500 over four years. This projection keeps yearly federal borrowing flat and excludes private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 16% |
| Average federal loan per year | $5,125 |
| Undergraduates with a federal loan | 851 |
| Total federal loans (one year) | $4,361,495 |
Graduating and withdrawing students at SMCC carry a median federal debt of $6,046 in federal borrowing.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $6,046 |
| Students who completed (graduates) | $10,331 |
| Students who withdrew | $5,500 |
Withdrawn-student debt matters because those borrowers carry the loans without the degree that helps repay them.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 SMCC.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $1,750 |
| 25th percentile | $3,500 |
| 75th percentile | $12,331 |
| 90th percentile (highest-debt students) | $21,527 |
The spread between the lowest- and highest-debt deciles summarizes how variable outcomes are at SMCC.
Median federal debt understates the full cost when PLUS loans are included. The totals below add PLUS borrowing for SMCC.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 616 | $12,214 |
| Completed (graduates) | 143 | $10,000 |
| Did not complete | 473 | $13,000 |
On a standard 10-year plan, the median completing borrower would pay about $118.91/mo.
The split below distinguishes Stafford borrowers from non-Stafford borrowers at SMCC.
Any-Stafford Borrowers
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Used a Stafford loan | 606 | — |
| No Stafford loan | 10 | — |
Borrowers With a Stafford Loan This Year
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 273 | $8,952 |
| No Stafford loan this year | 343 | $16,450 |
These figures turn the debt totals into a monthly repayment picture for SMCC.
Defaulting means failing to repay a federal student loan, which carries serious credit consequences. The official Department of Education two-year default rate for SMCC appears below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 15.3% |
| Borrowers in the cohort | 1579 |
A lower default rate generally signals that graduates earn enough to manage their loan payments.
The breakdowns below show median federal debt by income, first-generation status, and dependency.
Borrowing by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $7,070 |
| Middle income | $5,500 |
| High income | $5,500 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $6,125 |
| Continuing-generation students | $5,750 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $5,500 |
| Independent students | $8,000 |
These pre-calculated indicators summarize the borrowing gaps between cohorts at SMCC.
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.