by our College Data Analytics TeamBelow is federal data on the loans students use to pay for Southwestern College, including completion-adjusted borrowing and a standard repayment estimate. All figures come from the U.S. Department of Education and IPEDS.
At SC specifically, 77% of freshmen borrow to help pay for their first year, borrowing on average $8,678 apiece. This figure includes both private and federally funded student loans.
The typical federal loan comes to $5,715. This is at or above the $5,500 first-year federal borrowing cap that applies to the typical dependent freshman. Bear in mind the undergraduate averages later on cover federal loans only, whereas this freshman total folds in private loans too.
Across the full undergraduate body at SC (freshmen included), 49% borrow through federal student loan programs, for a typical $7,231 in federal loans per year. It comes to 26.5% larger than the $5,715 typical freshmen borrow.
Carrying that yearly figure forward comes to roughly $14,462 by year two and around $28,924 across a four-year program. The estimate holds federal borrowing constant and does not count private or Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 49% |
| Average federal loan per year | $7,231 |
| Undergraduates with a federal loan | 504 |
| Total federal loans (one year) | $3,644,235 |
The median student at SC borrows $12,500 in federal student loans.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $12,500 |
| Students who completed (graduates) | $25,000 |
| Students who withdrew | $8,550 |
Withdrawn-student debt matters because those borrowers carry the loans without the degree that helps repay them.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 SC.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $4,104 |
| 25th percentile | $7,000 |
| 75th percentile | $27,607 |
| 90th percentile (highest-debt students) | $38,503 |
The spread between the lowest- and highest-debt deciles summarizes how variable outcomes are at SC.
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 SC.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 254 | $13,100 |
| Completed (graduates) | 71 | $19,900 |
| Did not complete | 183 | $11,900 |
For students who completed, the median total debt including PLUS loans works out to a standard 10-year payment of about $236.63/mo.
Federal data lets us separate Stafford borrowers from the rest at SC.
Current-Year Stafford Borrowers
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 198 | $15,332 |
| No Stafford loan this year | 56 | $9,182 |
These figures turn the debt totals into a monthly repayment picture for SC.
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 SC appears below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 5.8% |
| Borrowers in the cohort | 565 |
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.
Median Debt by Income Bracket
| Income tier | Median federal debt |
|---|---|
| Low income | $12,218 |
| Middle income | $13,560 |
| High income | $12,000 |
First-Gen vs Continuing-Gen Borrowing
| Cohort | Median federal debt |
|---|---|
| First-generation students | $12,500 |
| Continuing-generation students | $12,625 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $11,000 |
| Independent students | $15,325 |
The Department of Education computes gap indicators that show how borrowing differs between student groups at SC.
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.
Worth Knowing
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.