by our College Data Analytics TeamHere you will find what students actually borrow to attend Southern Methodist University— 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 SMU, 26% of incoming undergraduates borrow in year one, for an average of $13,116 each — a figure that counts both private and federal student loans.
Federal loans alone average $5,019, amounting to 91.3% of the $5,500 first-year borrowing cap for the typical first-year 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 SMU, 21% finance part of their studies with federal loans, at an average of $5,982 annually. This is 19.2% greater than the freshman federal average of $5,019.
Borrowing at that rate every year works out to about $11,964 by year two and around $23,928 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 | $5,982 |
| Undergraduates with a federal loan | 1,527 |
| Total federal loans (one year) | $9,133,866 |
The median student at SMU borrows $15,311 in federal student loans.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $15,311 |
| Students who completed (graduates) | $19,500 |
| Students who withdrew | $7,000 |
Withdrawn-student debt matters because those borrowers carry the loans without the degree that helps repay them.
The median hides the spread, so the percentiles below show cumulative federal debt at four points in the distribution for SMU.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $5,500 |
| 25th percentile | $8,250 |
| 75th percentile | $26,000 |
| 90th percentile (highest-debt students) | $31,000 |
How wide this percentile range is tells you how much borrowing varies across students at SMU.
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 SMU.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 914 | $34,926 |
| Completed (graduates) | 690 | $40,025 |
| Did not complete | 224 | $26,123 |
Completers face an estimated standard 10-year monthly payment on their PLUS-inclusive debt of roughly $475.94/mo.
The split below distinguishes Stafford borrowers from non-Stafford borrowers at SMU.
Borrowers With Any Stafford Loan
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Used a Stafford loan | 875 | $33,999 |
| No Stafford loan | 39 | $48,646 |
Current-Year Stafford Borrowers
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 719 | $36,723 |
| No Stafford loan this year | 195 | $30,084 |
The indicators below describe what the typical debt costs to pay back at SMU.
The default rate measures how many borrowers fall behind and ultimately fail to repay their federal loans. The official Department of Education two-year default rate for SMU appears below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 3.2% |
| Borrowers in the cohort | 1671 |
The cohort default rate tracks borrowers who entered repayment in a given year and defaulted within the two-year measurement window.
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 | $17,000 |
| Middle income | $17,500 |
| High income | $14,000 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $17,750 |
| Continuing-generation students | $14,000 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $15,000 |
| Independent students | $17,845 |
These pre-calculated indicators summarize the borrowing gaps between cohorts at SMU.
Subsidized vs. Unsubsidized Loans
Unsubsidized federal student loans accrue interest every month — even while you are still enrolled. Unless you pay that interest as it builds, the balance you owe at graduation can be noticeably higher than the amount you originally borrowed.
Did You Know?
Unlike most other debt, federal student loans generally survive bankruptcy — and unpaid balances can lead to wage garnishment — so borrow only what you truly need.
References
More about our data sources and methodologies.