by our College Data Analytics TeamThis page focuses on the debt students take on to attend William Carey University: 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.
Looking at the entering class at William Carey University, 24% of first-year students take on loan debt, at roughly $5,136 per student, private and federal loans combined.
The average federally funded loan is $4,564, equal to roughly 83.0% of the $5,500 first-year federal borrowing limit for a typical dependent freshman. Keep in mind the all-undergraduate averages further down count federal loans only, unlike this private-plus-federal freshman figure.
Across the full undergraduate body at William Carey University (freshmen included), 43% take out federal student loans, with a mean of $7,829 in federal loans per year. That is 71.5% greater than the $4,564 freshmen take on.
Borrowing the same amount each year would add up to roughly $15,658 over two years and about $31,316 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 | 43% |
| Average federal loan per year | $7,829 |
| Undergraduates with a federal loan | 774 |
| Total federal loans (one year) | $6,059,260 |
Graduating and withdrawing students at William Carey University carry a median federal debt of $15,796 in federal borrowing.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $15,796 |
| Students who completed (graduates) | $20,832 |
| Students who withdrew | $9,375 |
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 William Carey University.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,500 |
| 25th percentile | $7,363 |
| 75th percentile | $25,000 |
| 90th percentile (highest-debt students) | $34,291 |
How wide this percentile range is tells you how much borrowing varies across students at William Carey University.
The figures above count only the students own federal loans. Adding PLUS loans (borrowed by parents or graduate students) gives a fuller picture of total borrowing at William Carey University.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 497 | $10,688 |
| Completed (graduates) | 143 | $12,613 |
| Did not complete | 354 | $10,000 |
Completers face an estimated standard 10-year monthly payment on their PLUS-inclusive debt of roughly $149.98/mo.
The split below distinguishes Stafford borrowers from non-Stafford borrowers at William Carey University.
Current-Year Stafford Borrowers
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 389 | $11,266 |
| No Stafford loan this year | 108 | $9,309 |
The indicators below describe what the typical debt costs to pay back at William Carey University.
Defaulting means failing to repay a federal student loan, which carries serious credit consequences. The federal two-year cohort default rate for William Carey University appears below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 5.8% |
| Borrowers in the cohort | 1153 |
This rate follows a borrower cohort from the start of repayment through the two-year window the Department of Education uses.
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 | $16,666 |
| Middle income | $15,295 |
| High income | $15,000 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $16,443 |
| Continuing-generation students | $15,000 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $14,000 |
| Independent students | $18,750 |
Federal data publishes the following gap measures for William Carey University.
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.
Did You Know?
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.