<p>Right now, everyone gets a loan, no qualifications, no credit check, no co-signers. If the schools are going to be punished if the student defaults, they should have some say, other than who they admit, in that credit decision. A student who might be on the line who needs financial aid might be passed over for a wealthier applicant.</p>
<p>Is that what we want? Poor kids kept out because statistic show the needy student who is going to a not-so-top college in a not-so-in-need major is 100% more likely to default than the wealthy student who didn’t need to borrow in the first place.</p>