by our College Data Analytics TeamHere you will find what students actually borrow to attend Springfield College, including completion-adjusted borrowing and a standard repayment estimate. The data below is drawn directly from federal sources.
Looking at the entering class at Springfield College, 76% of freshmen borrow to help pay for their first year, borrowing on average $8,698 apiece. This figure includes both private and federally funded student loans.
The average federal loan is $5,196, amounting to 94.5% of the typical first-year dependent student borrowing cap of $5,500. Note that average undergraduate loan amounts shown later do not include private loans — so the full freshman figure above is not directly comparable.
For undergraduates overall at Springfield College, 72% finance part of their studies with federal loans, with a mean of $6,437 in federal loans per year. That amounts to 23.9% above the $5,196 freshmen take on.
Borrowing the same amount each year would add up to roughly $12,874 in two years and roughly $25,748 by the fourth year. These figures assume identical federal borrowing each year and omit private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 72% |
| Average federal loan per year | $6,437 |
| Undergraduates with a federal loan | 1,384 |
| Total federal loans (one year) | $8,908,321 |
Graduating and withdrawing students at Springfield College carry a median federal debt of $23,000 of cumulative federal debt.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $23,000 |
| Students who completed (graduates) | $26,250 |
| Students who withdrew | $11,072 |
The figure for students who withdrew is worth watching: debt without a completed credential is the hardest to repay.
The median hides the spread, so the percentiles below show cumulative federal debt at four points in the distribution for Springfield College.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $5,500 |
| 25th percentile | $12,000 |
| 75th percentile | $27,000 |
| 90th percentile (highest-debt students) | $32,500 |
The gap between the 10th and 90th percentile is the clearest single measure of how widely borrowing varies at Springfield College.
Median federal debt understates the full cost when PLUS loans are included. The totals below add PLUS borrowing for Springfield College.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 516 | $24,787 |
| Completed (graduates) | 359 | $30,000 |
| Did not complete | 157 | $15,079 |
On a standard 10-year plan, the median completing borrower would pay about $356.73/mo.
Federal data lets us separate Stafford borrowers from the rest at Springfield College.
Borrowers With a Stafford Loan This Year
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 487 | $26,000 |
| No Stafford loan this year | 29 | $16,000 |
Repayment burden translates the debt figures into what a borrower actually pays each month. Springfield College.
A loan default — failing to keep up with federal student-loan payments — is one of the worst financial outcomes a borrower can face. The official Department of Education two-year default rate for Springfield College follows.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 4.2% |
| Borrowers in the cohort | 1876 |
The cohort default rate tracks borrowers who entered repayment in a given year and defaulted within the two-year measurement window.
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 | $20,315 |
| Middle income | $23,000 |
| High income | $25,000 |
First-Gen vs Continuing-Gen Borrowing
| Cohort | Median federal debt |
|---|---|
| First-generation students | $22,985 |
| Continuing-generation students | $23,250 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $25,000 |
| Independent students | $20,674 |
Federal data publishes the following gap measures for Springfield College.
The Difference Between Subsidized and Unsubsidized Loans
With an unsubsidized loan, interest starts adding up the day the loan is disbursed, including during school. Subsidized loans, by contrast, do not accrue interest while you are enrolled at least half-time, which makes them the less expensive option when you qualify.
Worth Knowing
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.