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How The Federal Government Tries To Keep Financially Troubled Colleges From Failing

How The Federal Government Tries To Keep Financially Troubled Colleges From Failing

Under federal law, colleges that record a student loan default rate of 30% or more for three consecutive years – or 40% in a single year – can lose their access to federal aid. While the rule is meant to weed out bad players and schools that don’t provide students with means for gainful employment, a new report shows that the government often intervenes, propping up schools just before they fail.  [More]