by our College Data Analytics TeamBelow is federal data on the loans students use to pay for Spa Tech Institute-Westboro: median debt, the percentile spread, total borrowing including PLUS loans, and the cost to repay. These figures are reported by the Department of Education and IPEDS.
For incoming students at Spa Tech Institute-Westboro, 78% of freshmen borrow to help pay for their first year, borrowing on average $5,719 each — a figure that counts both private and federal student loans.
The average federally funded loan is $4,769, representing 86.7% of the $5,500 first-year borrowing cap for the typical first-year dependent student. Be aware: the undergraduate-wide averages below exclude private loans, while this freshman number includes them.
Among all degree-seeking undergrads at Spa Tech Institute-Westboro, 46% borrow through federal student loan programs, for a typical $5,103 each per year. That amounts to 7.0% above the $4,769 typical freshmen borrow.
Repeating that yearly amount projects to about $10,206 in two years and roughly $20,412 by the fourth year. 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 | $5,103 |
| Undergraduates with a federal loan | 131 |
| Total federal loans (one year) | $668,504 |
The middle borrower at Spa Tech Institute-Westboro 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Withdrawn-student debt matters because those borrowers carry the loans without the degree that helps repay them.
Half of all borrowers fall between the 25th and 75th percentiles shown below for Spa Tech Institute-Westboro.
| 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 gap between the 10th and 90th percentile is the clearest single measure of how widely borrowing varies at Spa Tech Institute-Westboro.
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 Spa Tech Institute-Westboro.
| 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.
Repayment burden translates the debt figures into what a borrower actually pays each month. Spa Tech Institute-Westboro.
The default rate measures how many borrowers fall behind and ultimately fail to repay their federal loans. Two-year cohort default-rate data for Spa Tech Institute-Westboro is shown below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 14.3% |
| Borrowers in the cohort | 431 |
A lower default rate generally signals that graduates earn enough to manage their loan payments.
Median debt differs by income tier, first-generation status, and whether the student is financially dependent.
Borrowing by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $6,333 |
| Middle income | $6,333 |
| High income | $3,667 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $6,333 |
| Continuing-generation students | $6,333 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $3,666 |
| Independent students | $6,333 |
Federal data publishes the following gap measures for Spa Tech Institute-Westboro.
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.
Worth Knowing
Federal student loans are not discharged in bankruptcy in all but the rarest cases, and the government can withhold part of your income or tax refund if you default.
References
More about our data sources and methodologies.