by our College Data Analytics TeamHere you will find what students actually borrow to attend Thomas More College of Liberal Arts: median debt, the percentile spread, total borrowing including PLUS loans, and the cost to repay. All figures come from the U.S. Department of Education and IPEDS.
At Thomas More College of Liberal Arts, 84% of freshmen borrow to help pay for their first year, borrowing on average $5,967 each — a figure that counts both private and federal student loans.
On the federal side, the average loan is $5,500, amounting to 100.0% of the $5,500 first-year borrowing cap for the typical first-year dependent student. Keep in mind the all-undergraduate averages further down count federal loans only, unlike this private-plus-federal freshman figure.
Looking at all undergraduates at Thomas More College of Liberal Arts, freshmen included, 82% rely on federal student loans toward their education, borrowing on average $6,855 per year. This works out to 24.6% more than the $5,500 freshmen take on.
At a steady annual pace, that totals around $13,710 in two years and roughly $27,420 across a four-year program. These projections assume the same federal borrowing each year and exclude private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 82% |
| Average federal loan per year | $6,855 |
| Undergraduates with a federal loan | 83 |
| Total federal loans (one year) | $569,000 |
Graduating and withdrawing students at Thomas More College of Liberal Arts carry a median federal debt of $22,475 in federal borrowing.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $22,475 |
| Students who completed (graduates) | $25,000 |
The indicators below describe what the typical debt costs to pay back at Thomas More College of Liberal Arts.
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 Thomas More College of Liberal Arts is shown below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 5.6% |
| Borrowers in the cohort | 12 |
A lower default rate generally signals that graduates earn enough to manage their loan payments.
Subsidized vs. 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
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.