by our College Data Analytics TeamThis page focuses on the debt students take on to attend University of Iowa, including completion-adjusted borrowing and a standard repayment estimate. These figures are reported by the Department of Education and IPEDS.
Among first-year students at Iowa, 48% of incoming undergraduates borrow in year one, borrowing on average $9,592 per student, private and federal loans combined.
The typical federal loan comes to $5,255, which is 95.5% of the $5,500 cap on first-year federal borrowing for the typical dependent student. Bear in mind the undergraduate averages later on cover federal loans only, whereas this freshman total folds in private loans too.
For undergraduates overall at Iowa, 43% use federal student loans to help pay for their education, borrowing on average $6,406 a year. This works out to 21.9% higher than the $5,255 freshmen take on.
Borrowing the same amount each year would add up to roughly $12,812 after two years and $25,624 over a four-year span. The estimate holds federal borrowing constant and does not count private or Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 43% |
| Average federal loan per year | $6,406 |
| Undergraduates with a federal loan | 9,223 |
| Total federal loans (one year) | $59,082,740 |
Graduating and withdrawing students at Iowa carry a median federal debt of $18,207 in federal student loans.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $18,207 |
| Students who completed (graduates) | $22,500 |
| Students who withdrew | $8,750 |
Withdrawn-student debt matters because those borrowers carry the loans without the degree that helps repay them.
The median hides the spread, so the percentiles below show cumulative federal debt at four points in the distribution for Iowa.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,750 |
| 25th percentile | $7,500 |
| 75th percentile | $26,344 |
| 90th percentile (highest-debt students) | $30,762 |
The gap between the 10th and 90th percentile is the clearest single measure of how widely borrowing varies at Iowa.
PLUS loans — taken out by parents or graduate students — add to the total cost of attendance financed by debt at Iowa.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 3824 | $24,284 |
| Completed (graduates) | 2600 | $27,975 |
| Did not complete | 1224 | $19,748 |
Completers face an estimated standard 10-year monthly payment on their PLUS-inclusive debt of roughly $332.65/mo.
Federal data lets us separate Stafford borrowers from the rest at Iowa.
Any-Stafford Borrowers
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Used a Stafford loan | 3744 | $24,244 |
| No Stafford loan | 80 | $28,650 |
Current-Year Stafford Borrowers
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 3398 | $25,233 |
| No Stafford loan this year | 426 | $18,903 |
These figures turn the debt totals into a monthly repayment picture for Iowa.
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 Iowa appears below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 3.3% |
| Borrowers in the cohort | 4986 |
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.
Median Debt by Income Bracket
| Income tier | Median federal debt |
|---|---|
| Low income | $18,000 |
| Middle income | $18,268 |
| High income | $18,187 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $18,500 |
| Continuing-generation students | $17,750 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $17,929 |
| Independent students | $19,339 |
Federal data publishes the following gap measures for Iowa.
Subsidized vs. 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
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.