by our College Data Analytics TeamHere you will find what students actually borrow to attend Swarthmore College— how much they borrow, how that debt is spread across the student body, and what it costs to pay back. The data below is drawn directly from federal sources.
At Swarthmore, 12% of new students use loans toward freshman-year expenses, at roughly $13,019 per borrower, covering both private and federal loans.
Federal loans alone average $5,406, representing 98.3% of the typical first-year dependent student borrowing cap of $5,500. Bear in mind the undergraduate averages later on cover federal loans only, whereas this freshman total folds in private loans too.
Among all degree-seeking undergrads at Swarthmore, 11% borrow through federal student loan programs, at an average of $6,006 per year. It comes to 11.1% more than the first-year federal average of $5,406.
Repeating that yearly amount projects to about $12,012 after two years and $24,024 by the fourth year. This projection keeps yearly federal borrowing flat and excludes private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 11% |
| Average federal loan per year | $6,006 |
| Undergraduates with a federal loan | 184 |
| Total federal loans (one year) | $1,105,192 |
Graduating and withdrawing students at Swarthmore carry a median federal debt of $13,000 in federal student loans.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $13,000 |
| Students who completed (graduates) | $17,500 |
| Students who withdrew | $7,028 |
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 Swarthmore.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $5,000 |
| 25th percentile | $8,000 |
| 75th percentile | $26,374 |
| 90th percentile (highest-debt students) | $27,000 |
The spread between the lowest- and highest-debt deciles summarizes how variable outcomes are at Swarthmore.
Median federal debt understates the full cost when PLUS loans are included. The totals below add PLUS borrowing for Swarthmore.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 72 | $50,515 |
| Completed (graduates) | 46 | $65,862 |
| Did not complete | 26 | $30,000 |
On a standard 10-year plan, the median completing borrower would pay about $783.17/mo.
The split below distinguishes Stafford borrowers from non-Stafford borrowers at Swarthmore.
Any-Stafford Borrowers
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Used a Stafford loan | 60 | — |
| No Stafford loan | 12 | — |
Stafford This Year vs Not
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 60 | — |
| No Stafford loan this year | 12 | — |
The indicators below describe what the typical debt costs to pay back at Swarthmore.
Defaulting means failing to repay a federal student loan, which carries serious credit consequences. Two-year cohort default-rate data for Swarthmore appears below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 0% |
| Borrowers in the cohort | 160 |
A lower default rate generally signals that graduates earn enough to manage their loan payments.
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 | $7,500 |
| Middle income | $9,900 |
| High income | $14,811 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $12,000 |
| Continuing-generation students | $13,696 |
Federal data publishes the following gap measures for Swarthmore.
The Difference Between Subsidized and 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.
Important to Remember
Unlike most other debt, federal student loans generally survive bankruptcy — and unpaid balances can lead to wage garnishment — so borrow only what you truly need.
References
More about our data sources and methodologies.