by our College Data Analytics TeamBelow is federal data on the loans students use to pay for The Salon Professional Academy - Washington DC, including completion-adjusted borrowing and a standard repayment estimate. All figures come from the U.S. Department of Education and IPEDS.
At TSPA - Washington DC, 14% of new students use loans toward freshman-year expenses, with a typical loan of $4,391 per student, private and federal loans combined.
The average federal loan is $4,391, equal to roughly 79.8% of the $5,500 federal limit that applies to a typical first-year dependent borrower. Be aware: the undergraduate-wide averages below exclude private loans, while this freshman number includes them.
For undergraduates overall at TSPA - Washington DC, 18% borrow through federal student loan programs, at an average of $5,869 annually. That is 33.7% higher than the $4,391 borrowed by freshmen.
At a steady annual pace, that totals around $11,738 in two years and roughly $23,476 over four years. This assumes steady federal borrowing and leaves out private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 18% |
| Average federal loan per year | $5,869 |
| Undergraduates with a federal loan | 39 |
| Total federal loans (one year) | $228,878 |
Graduating and withdrawing students at TSPA - Washington DC 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) | $6,333 |
| Students who withdrew | $3,666 |
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 TSPA - Washington DC.
| Percentile | Cumulative Federal Debt |
|---|---|
| 25th percentile | $5,500 |
| 75th percentile | $11,179 |
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 - Washington DC.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 36 | $12,250 |
The indicators below describe what the typical debt costs to pay back at TSPA - Washington DC.
A loan default — failing to keep up with federal student-loan payments — is one of the worst financial outcomes a borrower can face. The federal two-year cohort default rate for TSPA - Washington DC is shown below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 16.2% |
| Borrowers in the cohort | 29 |
A lower default rate generally signals that graduates earn enough to manage their loan payments.
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 | $6,333 |
| Middle income | $6,333 |
| High income | $8,028 |
First-Gen vs Continuing-Gen Borrowing
| Cohort | Median federal debt |
|---|---|
| First-generation students | $6,333 |
| Continuing-generation students | $6,333 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $6,333 |
| Independent students | $6,333 |
These pre-calculated indicators summarize the borrowing gaps between cohorts at TSPA - Washington DC.
The Difference Between Subsidized and 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.