by our College Data Analytics TeamHere you will find what students actually borrow to attend Wofford College: 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 Wofford, 45% of incoming undergraduates borrow in year one, borrowing on average $7,351 per student, private and federal loans combined.
On the federal side, the average loan is $5,128, or about 93.2% 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.
Looking at all undergraduates at Wofford, freshmen included, 41% borrow through federal student loan programs, at an average of $6,189 in federal loans per year. This is 20.7% above the first-year federal average of $5,128.
Borrowing at that rate every year works out to about $12,378 in two years and roughly $24,756 after four. This assumes steady federal borrowing and leaves out private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 41% |
| Average federal loan per year | $6,189 |
| Undergraduates with a federal loan | 764 |
| Total federal loans (one year) | $4,728,602 |
The median student at Wofford borrows $20,500 in federal student loans.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $20,500 |
| Students who completed (graduates) | $25,732 |
| Students who withdrew | $8,375 |
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 Wofford.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $5,500 |
| 25th percentile | $9,462 |
| 75th percentile | $27,000 |
| 90th percentile (highest-debt students) | $27,000 |
How wide this percentile range is tells you how much borrowing varies across students at Wofford.
PLUS loans — taken out by parents or graduate students — add to the total cost of attendance financed by debt at Wofford.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 121 | $51,834 |
| Completed (graduates) | 96 | $58,390 |
| Did not complete | 25 | $23,595 |
On a standard 10-year plan, the median completing borrower would pay about $694.32/mo.
These figures turn the debt totals into a monthly repayment picture for Wofford.
A loan default — failing to keep up with federal student-loan payments — is one of the worst financial outcomes a borrower can face. The official Department of Education two-year default rate for Wofford appears below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 1.5% |
| Borrowers in the cohort | 190 |
The cohort default rate tracks borrowers who entered repayment in a given year and defaulted within the two-year measurement window.
The breakdowns below show median federal debt by income, first-generation status, and dependency.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $15,000 |
| Middle income | $19,500 |
| High income | $21,500 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $19,875 |
| Continuing-generation students | $20,500 |
The Department of Education computes gap indicators that show how borrowing differs between student groups at Wofford.
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
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.