McConnell Wants to Exempt Ky. College from Default RuleOctober 13, 2017 |
by Emily Wilkins
Senate Majority Leader Mitch McConnell is asking the Education Department to skirt its rules and make an exception to provide federal dollars to a college in his home state — even though a high percentage of its graduates defaulted on their students loans for the last three years.
McConnell’s move is part of a larger debate about the criteria to determine whether a college should receive federal funding or be cut off. Currently, the Education Department uses data on what is known as the cohort default rate — or how many of a college’s graduates default on their loans — to decide whether the school is a good investment for taxpayer money.