by our College Data Analytics TeamHere you will find what students actually borrow to attend Springfield Technical Community College: median debt, the percentile spread, total borrowing including PLUS loans, and the cost to repay. All figures come from the U.S. Department of Education and IPEDS.
At STCC specifically, 21% of new students use loans toward freshman-year expenses, with a typical loan of $3,982 per student, private and federal loans combined.
The average federal loan is $3,982, equal to roughly 72.4% 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.
Looking at all undergraduates at STCC, freshmen included, 25% rely on federal student loans toward their education, for a typical $4,806 annually. That amounts to 20.7% above the $3,982 borrowed by freshmen.
At a steady annual pace, that totals around $9,612 over two years and about $19,224 over four years. The estimate holds federal borrowing constant and does not count private or Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 25% |
| Average federal loan per year | $4,806 |
| Undergraduates with a federal loan | 1,006 |
| Total federal loans (one year) | $4,834,527 |
Graduating and withdrawing students at STCC carry a median federal debt of $4,996 in federal student loans.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $4,996 |
| Students who completed (graduates) | $6,570 |
| Students who withdrew | $3,901 |
Withdrawn-student debt matters because those borrowers carry the loans without the degree that helps repay them.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 STCC.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $868 |
| 25th percentile | $1,806 |
| 75th percentile | $7,770 |
| 90th percentile (highest-debt students) | $12,200 |
The gap between the 10th and 90th percentile is the clearest single measure of how widely borrowing varies at STCC.
Median federal debt understates the full cost when PLUS loans are included. The totals below add PLUS borrowing for STCC.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 309 | $12,790 |
| Completed (graduates) | 87 | $12,493 |
| Did not complete | 222 | $12,895 |
On a standard 10-year plan, the median completing borrower would pay about $148.56/mo.
The split below distinguishes Stafford borrowers from non-Stafford borrowers at STCC.
Stafford This Year vs Not
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 103 | $12,790 |
| No Stafford loan this year | 206 | $12,810 |
The indicators below describe what the typical debt costs to pay back at STCC.
A loan default — failing to keep up with federal student-loan payments — is one of the worst financial outcomes a borrower can face. Two-year cohort default-rate data for STCC follows.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 14.3% |
| Borrowers in the cohort | 656 |
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.
Borrowing by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $3,909 |
| Middle income | $4,000 |
| High income | $6,560 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $4,921 |
| Continuing-generation students | $5,500 |
Dependent vs Independent Borrowers
| Cohort | Median federal debt |
|---|---|
| Dependent students | $5,074 |
| Independent students | $4,625 |
Federal data publishes the following gap measures for STCC.
Subsidized vs. 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
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.