The default rate means the number who aren't paying their loans. If it's above some level you disqualify that school's students from being eligible for student loans.
The default rate means the number who aren't paying their loans. If it's above some level you disqualify that school's students from being eligible for student loans.
I see. Let me noodle on this for a bit. I see the advantage of cracking down on schools who churn out degrees for students that default on their loans.
I see. Let me noodle on this for a bit. I see the advantage of cracking down on schools who churn out degrees for students that default on their loans.
Instead of a fixed rate you could introduce competition by making it something like "if the default rate is higher than the worst 10%" or something. That means no matter how good they do, 10% will be disqualified and they'll have to try harder next year.
Instead of a fixed rate you could introduce competition by making it something like "if the default rate is higher than the worst 10%" or something. That means no matter how good they do, 10% will be disqualified and they'll have to try harder next year.
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