by our College Data Analytics TeamThis page focuses on the debt students take on to attend University of Akron Wayne College— how much they borrow, how that debt is spread across the student body, and what it costs to pay back. All figures come from the U.S. Department of Education and IPEDS.
Looking at the entering class at University of Akron Wayne College, 11% of incoming undergraduates borrow in year one, averaging $5,613 per borrower, covering both private and federal loans.
The average federally funded loan is $5,613. This meets or exceeds the $5,500 cap on first-year federal borrowing 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 University of Akron Wayne College, freshmen included, 25% finance part of their studies with federal loans, borrowing on average $6,846 per year. This works out to 22.0% above the $5,613 typical freshmen borrow.
Borrowing at that rate every year works out to about $13,692 by year two and around $27,384 over four years. The estimate holds federal borrowing constant and does not count private or Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 25% |
| Average federal loan per year | $6,846 |
| Undergraduates with a federal loan | 121 |
| Total federal loans (one year) | $828,413 |
Graduating and withdrawing students at University of Akron Wayne College carry a median federal debt of $15,250 in federal borrowing.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $15,250 |
| Students who completed (graduates) | $23,250 |
| Students who withdrew | $8,500 |
Withdrawn-student debt matters because those borrowers carry the loans without the degree that helps repay them.
Half of all borrowers fall between the 25th and 75th percentiles shown below for University of Akron Wayne College.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,500 |
| 25th percentile | $5,529 |
| 75th percentile | $29,250 |
| 90th percentile (highest-debt students) | $42,775 |
How wide this percentile range is tells you how much borrowing varies across students at University of Akron Wayne College.
Median federal debt understates the full cost when PLUS loans are included. The totals below add PLUS borrowing for University of Akron Wayne College.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 2164 | $18,436 |
| Completed (graduates) | 1303 | $22,000 |
| Did not complete | 861 | $15,040 |
For students who completed, the median total debt including PLUS loans works out to a standard 10-year payment of about $261.6/mo.
Stafford loans are the federal direct-loan program most undergraduates use. The breakdown below separates borrowers who used Stafford loans from those who did not at University of Akron Wayne College.
Borrowers With Any Stafford Loan
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Used a Stafford loan | 2102 | $18,551 |
| No Stafford loan | 62 | $12,895 |
Borrowers With a Stafford Loan This Year
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 1929 | $19,000 |
| No Stafford loan this year | 235 | $15,000 |
Repayment burden translates the debt figures into what a borrower actually pays each month. University of Akron Wayne 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 University of Akron Wayne College appears below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 9.2% |
| Borrowers in the cohort | 7533 |
This rate follows a borrower cohort from the start of repayment through the two-year window the Department of Education uses.
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 | $15,750 |
| Middle income | $16,250 |
| High income | $14,191 |
First-Gen vs Continuing-Gen Borrowing
| Cohort | Median federal debt |
|---|---|
| First-generation students | $15,500 |
| Continuing-generation students | $14,719 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $15,000 |
| Independent students | $18,000 |
Federal data publishes the following gap measures for University of Akron Wayne College.
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.
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.