by our College Data Analytics TeamHere you will find what students actually borrow to attend The Salon Professional Academy, including completion-adjusted borrowing and a standard repayment estimate. All figures come from the U.S. Department of Education and IPEDS.
Among first-year students at TSPA - Cedar Falls, 83% of incoming undergraduates borrow in year one, at roughly $8,507 apiece. This figure includes both private and federally funded student loans.
The average federally funded loan is $8,507. That is at or past the $5,500 federal first-year limit for the typical dependent freshman. Remember the all-undergraduate figures below leave out private loans, so they will look lower than this private-plus-federal freshman amount.
Counting every undergraduate at TSPA - Cedar Falls, 43% finance part of their studies with federal loans, with a mean of $7,644 each per year. That is 10.1% less than the first-year federal average of $8,507.
Borrowing the same amount each year would add up to roughly $15,288 by year two and around $30,576 by the fourth year. These figures assume identical federal borrowing each year and omit private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 43% |
| Average federal loan per year | $7,644 |
| Undergraduates with a federal loan | 56 |
| Total federal loans (one year) | $428,086 |
The median student at TSPA - Cedar Falls borrows $12,000 in federal borrowing.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $12,000 |
| Students who completed (graduates) | $12,500 |
The indicators below describe what the typical debt costs to pay back at TSPA - Cedar Falls.
Defaulting means failing to repay a federal student loan, which carries serious credit consequences. Two-year cohort default-rate data for TSPA - Cedar Falls follows.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 16.0% |
| Borrowers in the cohort | 25 |
A lower default rate generally signals that graduates earn enough to manage their loan payments.
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 | $10,000 |
Dependent vs Independent Borrowers
| Cohort | Median federal debt |
|---|---|
| Dependent students | $12,000 |
| Independent students | $12,632 |
Federal data publishes the following gap measures for TSPA - Cedar Falls.
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.
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.