by our College Data Analytics TeamHere you will find what students actually borrow to attend The Spa School— how much they borrow, how that debt is spread across the student body, and what it costs to pay back. These figures are reported by the Department of Education and IPEDS.
At The Spa School specifically, 61% of incoming undergraduates borrow in year one, at roughly $5,086 each, across private and federal loan sources.
On the federal side, the average loan is $5,086, amounting to 92.5% of the $5,500 federal limit that applies to a typical first-year dependent borrower. Bear in mind the undergraduate averages later on cover federal loans only, whereas this freshman total folds in private loans too.
Looking at all undergraduates at The Spa School, freshmen included, 62% use federal student loans to help pay for their education, borrowing on average $4,994 annually. This works out to 1.8% smaller than the $5,086 borrowed by freshmen.
Borrowing at that rate every year works out to about $9,988 in two years and roughly $19,976 over a four-year span. These projections assume the same federal borrowing each year and exclude private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 62% |
| Average federal loan per year | $4,994 |
| Undergraduates with a federal loan | 127 |
| Total federal loans (one year) | $634,276 |
The median student at The Spa School borrows $7,814 in federal student loans.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $7,814 |
| Students who completed (graduates) | $7,916 |
| Students who withdrew | $3,958 |
Withdrawn-student debt matters because those borrowers carry the loans without the degree that helps repay them.
Looking only at the median is misleading — these four percentiles describe the full debt distribution for borrowers at The Spa School.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $2,750 |
| 25th percentile | $4,583 |
| 75th percentile | $7,916 |
| 90th percentile (highest-debt students) | $7,916 |
The spread between the lowest- and highest-debt deciles summarizes how variable outcomes are at The Spa School.
Median federal debt understates the full cost when PLUS loans are included. The totals below add PLUS borrowing for The Spa School.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 27 | $9,900 |
Repayment burden translates the debt figures into what a borrower actually pays each month. The Spa School.
The default rate measures how many borrowers fall behind and ultimately fail to repay their federal loans. The official Department of Education two-year default rate for The Spa School appears below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 7.0% |
| Borrowers in the cohort | 100 |
The cohort default rate tracks borrowers who entered repayment in a given year and defaulted within the two-year measurement window.
Borrowing varies by family income, by first-generation status, and by dependency status.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $7,916 |
| Middle income | $7,916 |
| High income | $4,583 |
Dependent vs Independent Borrowers
| Cohort | Median federal debt |
|---|---|
| Dependent students | $4,583 |
| Independent students | $7,916 |
The Department of Education computes gap indicators that show how borrowing differs between student groups at The Spa School.
Subsidized and Unsubsidized Loans
Subsidized loans pause interest while you are in school; unsubsidized loans do not. That difference compounds over four years, so the type of loan you take matters as much as the amount.
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.