by our College Data Analytics TeamHere you will find what students actually borrow to attend University of Minnesota-Morris: median debt, the percentile spread, total borrowing including PLUS loans, and the cost to repay. These figures are reported by the Department of Education and IPEDS.
At UMN Morris specifically, 42% of incoming undergraduates borrow in year one, borrowing on average $7,579 per borrower, covering both private and federal loans.
Federal loans alone average $4,753, representing 86.4% 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 UMN Morris, 38% use federal student loans to help pay for their education, at an average of $5,575 per year. This is 17.3% more than the first-year federal average of $4,753.
Borrowing at that rate every year works out to about $11,150 by year two and around $22,300 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 | 38% |
| Average federal loan per year | $5,575 |
| Undergraduates with a federal loan | 370 |
| Total federal loans (one year) | $2,062,581 |
The middle borrower at UMN Morris owes $12,377 in federal student loans.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $12,377 |
| Students who completed (graduates) | $18,995 |
| Students who withdrew | $7,500 |
The figure for students who withdrew is worth watching: debt without a completed credential is the hardest to repay.
The median hides the spread, so the percentiles below show cumulative federal debt at four points in the distribution for UMN Morris.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,012 |
| 25th percentile | $5,500 |
| 75th percentile | $24,253 |
| 90th percentile (highest-debt students) | $27,850 |
The spread between the lowest- and highest-debt deciles summarizes how variable outcomes are at UMN Morris.
PLUS loans — taken out by parents or graduate students — add to the total cost of attendance financed by debt at UMN Morris.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 121 | $11,922 |
| Completed (graduates) | 84 | $11,398 |
| Did not complete | 37 | $13,000 |
For students who completed, the median total debt including PLUS loans works out to a standard 10-year payment of about $135.53/mo.
The indicators below describe what the typical debt costs to pay back at UMN Morris.
Defaulting means failing to repay a federal student loan, which carries serious credit consequences. The federal two-year cohort default rate for UMN Morris follows.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 3.4% |
| Borrowers in the cohort | 352 |
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.
Median Debt by Income Bracket
| Income tier | Median federal debt |
|---|---|
| Low income | $10,889 |
| Middle income | $12,245 |
| High income | $13,000 |
First-Gen vs Continuing-Gen Borrowing
| Cohort | Median federal debt |
|---|---|
| First-generation students | $12,000 |
| Continuing-generation students | $12,566 |
Dependent vs Independent Borrowers
| Cohort | Median federal debt |
|---|---|
| Dependent students | $12,517 |
| Independent students | $8,347 |
These pre-calculated indicators summarize the borrowing gaps between cohorts at UMN Morris.
Subsidized and 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.
Worth Knowing
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.