by our College Data Analytics TeamThis page focuses on the debt students take on to attend The Salon Professional Academy - Melbourne: median debt, the percentile spread, total borrowing including PLUS loans, and the cost to repay. The data below is drawn directly from federal sources.
At TSPA - Melbourne, 52% of first-year students take on loan debt, with a typical loan of $5,508 per student, private and federal loans combined.
The average federally funded loan is $5,508. 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.
Looking at all undergraduates at TSPA - Melbourne, freshmen included, 54% take out federal student loans, borrowing on average $5,561 per year. This is 1.0% more than the $5,508 freshmen take on.
Repeating that yearly amount projects to about $11,122 in two years and roughly $22,244 over four years. This assumes steady federal borrowing and leaves out private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 54% |
| Average federal loan per year | $5,561 |
| Undergraduates with a federal loan | 103 |
| Total federal loans (one year) | $572,747 |
Graduating and withdrawing students at TSPA - Melbourne carry a median federal debt of $6,333 in federal borrowing.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $6,333 |
| Students who completed (graduates) | $7,528 |
| Students who withdrew | $4,750 |
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 TSPA - Melbourne.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $2,750 |
| 25th percentile | $4,750 |
| 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 TSPA - Melbourne.
The figures above count only the students own federal loans. Adding PLUS loans (borrowed by parents or graduate students) gives a fuller picture of total borrowing at TSPA - Melbourne.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 22 | $8,195 |
Repayment burden translates the debt figures into what a borrower actually pays each month. TSPA - Melbourne.
A loan default — failing to keep up with federal student-loan payments — is one of the worst financial outcomes a borrower can face. The official Department of Education two-year default rate for TSPA - Melbourne follows.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 14.1% |
| Borrowers in the cohort | 78 |
This rate follows a borrower cohort from the start of repayment through the two-year window the Department of Education uses.
Borrowing varies by family income, by first-generation status, and by dependency status.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $6,333 |
| Middle income | $5,234 |
| High income | $6,087 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $6,224 |
| Continuing-generation students | $7,667 |
Dependent vs Independent Borrowers
| Cohort | Median federal debt |
|---|---|
| Dependent students | $5,870 |
| Independent students | $6,333 |
Federal data publishes the following gap measures for TSPA - Melbourne.
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.
Important to Remember
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.