by our College Data Analytics TeamThis page focuses on the debt students take on to attend Summit Salon Academy - Gainesville, including completion-adjusted borrowing and a standard repayment estimate. All figures come from the U.S. Department of Education and IPEDS.
Looking at the entering class at Summit Salon Academy Gainesville, 30% of incoming students take out a loan to help cover first-year costs, with a typical loan of $5,240 per student, private and federal loans combined.
Federal loans alone average $5,240, which is 95.3% of the $5,500 first-year borrowing cap for the typical first-year dependent student. Remember the all-undergraduate figures below leave out private loans, so they will look lower than this private-plus-federal freshman amount.
Across the full undergraduate body at Summit Salon Academy Gainesville (freshmen included), 55% use federal student loans to help pay for their education, borrowing on average $1,686 annually. This works out to 67.8% less than the first-year federal average of $5,240.
Borrowing the same amount each year would add up to roughly $3,372 in two years and roughly $6,744 over four years. This projection keeps yearly federal borrowing flat and excludes private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 55% |
| Average federal loan per year | $1,686 |
| Undergraduates with a federal loan | 115 |
| Total federal loans (one year) | $193,890 |
The middle borrower at Summit Salon Academy Gainesville owes $7,667 in federal borrowing.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $7,667 |
| Students who completed (graduates) | $11,000 |
| Students who withdrew | $3,550 |
Debt carried by students who withdrew is a key risk signal — these borrowers owe money without having earned the credential.
Looking only at the median is misleading — these four percentiles describe the full debt distribution for borrowers at Summit Salon Academy Gainesville.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,616 |
| 25th percentile | $5,282 |
| 75th percentile | $13,000 |
| 90th percentile (highest-debt students) | $13,000 |
The gap between the 10th and 90th percentile is the clearest single measure of how widely borrowing varies at Summit Salon Academy Gainesville.
These figures turn the debt totals into a monthly repayment picture for Summit Salon Academy Gainesville.
Defaulting means failing to repay a federal student loan, which carries serious credit consequences. The official Department of Education two-year default rate for Summit Salon Academy Gainesville follows.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 0% |
| Borrowers in the cohort | 16 |
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.
Median Debt by Income Bracket
| Income tier | Median federal debt |
|---|---|
| Low income | $7,667 |
Dependent vs Independent Borrowers
| Cohort | Median federal debt |
|---|---|
| Dependent students | $7,288 |
| Independent students | $12,445 |
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.
Did You Know?
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.