by our College Data Analytics TeamBelow is federal data on the loans students use to pay for Southwest Minnesota State University, including completion-adjusted borrowing and a standard repayment estimate. The data below is drawn directly from federal sources.
At Southwest Minnesota State University, 58% of first-year students take on loan debt, borrowing on average $7,293 per student, private and federal loans combined.
The average federally funded loan is $5,414, representing 98.4% 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.
Among all degree-seeking undergrads at Southwest Minnesota State University, 52% rely on federal student loans toward their education, at an average of $6,873 in federal loans per year. That is 26.9% higher than the $5,414 freshmen take on.
Borrowing the same amount each year would add up to roughly $13,746 by year two and around $27,492 across a four-year program. These figures assume identical federal borrowing each year and omit private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 52% |
| Average federal loan per year | $6,873 |
| Undergraduates with a federal loan | 1,061 |
| Total federal loans (one year) | $7,291,885 |
The median student at Southwest Minnesota State University borrows $14,250 in federal borrowing.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $14,250 |
| Students who completed (graduates) | $20,500 |
| Students who withdrew | $8,750 |
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 Southwest Minnesota State University.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,000 |
| 25th percentile | $5,520 |
| 75th percentile | $25,000 |
| 90th percentile (highest-debt students) | $31,500 |
How wide this percentile range is tells you how much borrowing varies across students at Southwest Minnesota State University.
Median federal debt understates the full cost when PLUS loans are included. The totals below add PLUS borrowing for Southwest Minnesota State University.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 182 | $12,035 |
| Completed (graduates) | 81 | $11,750 |
| Did not complete | 101 | $12,156 |
Completers face an estimated standard 10-year monthly payment on their PLUS-inclusive debt of roughly $139.72/mo.
Stafford loans are the federal direct-loan program most undergraduates use. The breakdown below separates borrowers who used Stafford loans from those who did not at Southwest Minnesota State University.
Borrowers With a Stafford Loan This Year
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 142 | $11,832 |
| No Stafford loan this year | 40 | $12,634 |
Repayment burden translates the debt figures into what a borrower actually pays each month. Southwest Minnesota State University.
The default rate measures how many borrowers fall behind and ultimately fail to repay their federal loans. Two-year cohort default-rate data for Southwest Minnesota State University appears below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 5.4% |
| Borrowers in the cohort | 895 |
This rate follows a borrower cohort from the start of repayment through the two-year window the Department of Education uses.
Median debt differs by income tier, first-generation status, and whether the student is financially dependent.
Median Debt by Income Bracket
| Income tier | Median federal debt |
|---|---|
| Low income | $13,947 |
| Middle income | $13,743 |
| High income | $15,000 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $13,430 |
| Continuing-generation students | $16,587 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $14,250 |
| Independent students | $14,700 |
Federal data publishes the following gap measures for Southwest Minnesota State University.
Subsidized vs. 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
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.