by our College Data Analytics TeamBelow is federal data on the loans students use to pay for Summit Salon Academy - Kokomo: 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 Summit Salon Academy Kokomo specifically, 81% of incoming students take out a loan to help cover first-year costs, for an average of $6,158 per student, private and federal loans combined.
The typical federal loan comes to $6,158. This reaches or tops the $5,500 first-year federal borrowing cap for a typical dependent student. Be aware: the undergraduate-wide averages below exclude private loans, while this freshman number includes them.
Counting every undergraduate at Summit Salon Academy Kokomo, 58% rely on federal student loans toward their education, borrowing on average $7,141 each per year. This works out to 16.0% greater than the $6,158 typical freshmen borrow.
Borrowing at that rate every year works out to about $14,282 by year two and around $28,564 after four. This assumes steady federal borrowing and leaves out private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 58% |
| Average federal loan per year | $7,141 |
| Undergraduates with a federal loan | 107 |
| Total federal loans (one year) | $764,074 |
Graduating and withdrawing students at Summit Salon Academy Kokomo carry a median federal debt of $8,867 in federal student loans.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $8,867 |
| Students who completed (graduates) | $8,973 |
| Students who withdrew | $5,500 |
Debt carried by students who withdrew is a key risk signal — these borrowers owe money without having earned the credential.
Half of all borrowers fall between the 25th and 75th percentiles shown below for Summit Salon Academy Kokomo.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $2,750 |
| 25th percentile | $3,982 |
| 75th percentile | $10,550 |
| 90th percentile (highest-debt students) | $14,500 |
The spread between the lowest- and highest-debt deciles summarizes how variable outcomes are at Summit Salon Academy Kokomo.
Median federal debt understates the full cost when PLUS loans are included. The totals below add PLUS borrowing for Summit Salon Academy Kokomo.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 27 | $8,223 |
The indicators below describe what the typical debt costs to pay back at Summit Salon Academy Kokomo.
Borrowing varies by family income, by first-generation status, and by dependency status.
Median Debt by Income Bracket
| Income tier | Median federal debt |
|---|---|
| Low income | $7,955 |
| Middle income | $8,920 |
| High income | $9,833 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $7,954 |
| Continuing-generation students | $9,833 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $8,680 |
| Independent students | $8,867 |
These pre-calculated indicators summarize the borrowing gaps between cohorts at Summit Salon Academy Kokomo.
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.