by our College Data Analytics TeamHere you will find what students actually borrow to attend Thomas College— 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 Thomas College, 76% of new students use loans toward freshman-year expenses, averaging $7,849 each, across private and federal loan sources.
On the federal side, the average loan is $5,497, amounting to 99.9% of the $5,500 federal limit that applies to a typical first-year dependent borrower. Note that average undergraduate loan amounts shown later do not include private loans — so the full freshman figure above is not directly comparable.
Counting every undergraduate at Thomas College, 75% finance part of their studies with federal loans, with a mean of $6,561 in federal loans per year. That is 19.4% greater than the $5,497 typical freshmen borrow.
Borrowing the same amount each year would add up to roughly $13,122 over two years and about $26,244 over four years. These figures assume identical federal borrowing each year and omit private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 75% |
| Average federal loan per year | $6,561 |
| Undergraduates with a federal loan | 519 |
| Total federal loans (one year) | $3,405,226 |
The middle borrower at Thomas College owes $20,000 in federal student loans.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $20,000 |
| Students who completed (graduates) | $24,250 |
| Students who withdrew | $6,000 |
The figure for students who withdrew is worth watching: debt without a completed credential is the hardest to repay.
Half of all borrowers fall between the 25th and 75th percentiles shown below for Thomas College.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,500 |
| 25th percentile | $6,500 |
| 75th percentile | $27,000 |
| 90th percentile (highest-debt students) | $35,000 |
The gap between the 10th and 90th percentile is the clearest single measure of how widely borrowing varies at Thomas College.
PLUS loans — taken out by parents or graduate students — add to the total cost of attendance financed by debt at Thomas College.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 161 | $15,892 |
| Completed (graduates) | 100 | $16,109 |
| Did not complete | 61 | $14,618 |
On a standard 10-year plan, the median completing borrower would pay about $191.55/mo.
The split below distinguishes Stafford borrowers from non-Stafford borrowers at Thomas College.
Stafford This Year vs Not
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 140 | $15,846 |
| No Stafford loan this year | 21 | $17,000 |
These figures turn the debt totals into a monthly repayment picture for Thomas College.
The default rate measures how many borrowers fall behind and ultimately fail to repay their federal loans. Two-year cohort default-rate data for Thomas College follows.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 8.3% |
| Borrowers in the cohort | 277 |
The cohort default rate tracks borrowers who entered repayment in a given year and defaulted within the two-year measurement window.
Median debt differs by income tier, first-generation status, and whether the student is financially dependent.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $15,450 |
| Middle income | $20,500 |
| High income | $20,000 |
First-Gen vs Continuing-Gen Borrowing
| Cohort | Median federal debt |
|---|---|
| First-generation students | $19,500 |
| Continuing-generation students | $20,500 |
Dependent vs Independent Borrowers
| Cohort | Median federal debt |
|---|---|
| Dependent students | $20,000 |
| Independent students | $20,000 |
Federal data publishes the following gap measures for Thomas College.
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.
Worth Knowing
Declaring bankruptcy does not erase federal student loan debt. If you stop paying, the federal government can garnish a portion of your wages until the loans are repaid.
References
More about our data sources and methodologies.