by our College Data Analytics TeamHere you will find what students actually borrow to attend Spa Tech Institute-North Andover— 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.
Looking at the entering class at Spa Tech Institute-North Andover, 67% of incoming students take out a loan to help cover first-year costs, for an average of $6,170 each — a figure that counts both private and federal student loans.
Federal loans alone average $4,248, or about 77.2% of the $5,500 cap on first-year federal borrowing for the typical dependent student. Be aware: the undergraduate-wide averages below exclude private loans, while this freshman number includes them.
Looking at all undergraduates at Spa Tech Institute-North Andover, freshmen included, 46% borrow through federal student loan programs, borrowing on average $4,699 a year. That amounts to 10.6% greater than the freshman federal average of $4,248.
At a steady annual pace, that totals around $9,398 after two years and $18,796 after four. The estimate holds federal borrowing constant and does not count private or Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 46% |
| Average federal loan per year | $4,699 |
| Undergraduates with a federal loan | 93 |
| Total federal loans (one year) | $437,038 |
The middle borrower at Spa Tech Institute-North Andover owes $6,333 in federal borrowing.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $6,333 |
| Students who completed (graduates) | $6,333 |
| Students who withdrew | $3,167 |
Withdrawn-student debt matters because those borrowers carry the loans without the degree that helps repay them.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 Spa Tech Institute-North Andover.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $2,750 |
| 25th percentile | $3,666 |
| 75th percentile | $6,861 |
| 90th percentile (highest-debt students) | $8,127 |
The spread between the lowest- and highest-debt deciles summarizes how variable outcomes are at Spa Tech Institute-North Andover.
PLUS loans — taken out by parents or graduate students — add to the total cost of attendance financed by debt at Spa Tech Institute-North Andover.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 154 | $8,409 |
| Completed (graduates) | 125 | $8,449 |
| Did not complete | 29 | $4,617 |
On a standard 10-year plan, the median completing borrower would pay about $100.47/mo.
These figures turn the debt totals into a monthly repayment picture for Spa Tech Institute-North Andover.
Defaulting means failing to repay a federal student loan, which carries serious credit consequences. The official Department of Education two-year default rate for Spa Tech Institute-North Andover is shown below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 14.3% |
| Borrowers in the cohort | 431 |
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.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $6,333 |
| Middle income | $6,333 |
| High income | $3,667 |
First-Gen vs Continuing-Gen Borrowing
| Cohort | Median federal debt |
|---|---|
| First-generation students | $6,333 |
| Continuing-generation students | $6,333 |
Dependent vs Independent Borrowers
| Cohort | Median federal debt |
|---|---|
| Dependent students | $3,666 |
| Independent students | $6,333 |
These pre-calculated indicators summarize the borrowing gaps between cohorts at Spa Tech Institute-North Andover.
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.