Median debt is the midpoint of the cumulative federal student loan amounts borrowed by a defined group of students, most often program completers, as reported on College Scorecard.
How it is measured
The Department of Education uses National Student Loan Data System records for students who received Title IV aid. For completer medians, the cohort is students who completed a credential and had federal loans. The median is the middle value when those loan totals are ordered. Small cohorts are suppressed for privacy.
Example: among students who completed a bachelor’s degree at an institution and had federal loans, the ordered debt amounts have a middle value of $22,000. That is the median debt. A student who borrowed $10,000 and a student who borrowed $45,000 both exist in the distribution; the median does not describe either individual.
How it differs
Cost of attendance and net price describe prices, not borrowing. ROI calculations sometimes place median debt next to median earnings, but the two figures come from different cohorts and time windows. Average debt can be pulled higher by a few large borrowers; the median is less sensitive to extremes.
Common errors
Treating median debt as the amount every graduate owes. Including private loans in a comparison that uses only the Scorecard figure. Comparing median debt of completers to the sticker price of one year of study.
References
- 1. College Scorecard debt metricsMedian debt for completers and other cohorts
- 2. NSLDS-derived Scorecard documentationFederal loan debt only
Median debt is the midpoint of the cumulative federal student loan amounts borrowed by a defined group of students, most often program completers, as reported on College Scorecard.