by our College Data Analytics TeamBelow is federal data on the loans students use to pay for State College of Beauty Culture Inc: 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.
Looking at the entering class at State College of Beauty Culture Inc, 62% of freshmen borrow to help pay for their first year, for an average of $6,622 per student, private and federal loans combined.
The typical federal loan comes to $5,782. This reaches or tops the $5,500 first-year federal borrowing cap for a typical dependent student. Bear in mind the undergraduate averages later on cover federal loans only, whereas this freshman total folds in private loans too.
For undergraduates overall at State College of Beauty Culture Inc, 37% finance part of their studies with federal loans, borrowing on average $6,201 per year. That amounts to 7.2% larger than the $5,782 borrowed by freshmen.
At a steady annual pace, that totals around $12,402 in two years and roughly $24,804 across a four-year program. This assumes steady federal borrowing and leaves out private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 37% |
| Average federal loan per year | $6,201 |
| Undergraduates with a federal loan | 32 |
| Total federal loans (one year) | $198,442 |
The middle borrower at State College of Beauty Culture Inc owes $5,500 in federal borrowing.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $5,500 |
| Students who completed (graduates) | $5,606 |
Half of all borrowers fall between the 25th and 75th percentiles shown below for State College of Beauty Culture Inc.
| Percentile | Cumulative Federal Debt |
|---|---|
| 25th percentile | $4,903 |
| 75th percentile | $9,500 |
Repayment burden translates the debt figures into what a borrower actually pays each month. State College of Beauty Culture Inc.
Defaulting means failing to repay a federal student loan, which carries serious credit consequences. The federal two-year cohort default rate for State College of Beauty Culture Inc appears below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 4.4% |
| Borrowers in the cohort | 68 |
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.
Borrowing by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $5,042 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $3,771 |
| Independent students | $6,333 |
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.