“Default rates can be more helpful to students who attend less selective colleges, including public and private schools that have less free aid to give out where thousands of students end up using loans to pay tuition. In general, a college with a double-digit three-year default rate can be a red flag for students, since it suggests that a significant number of former students are having difficulty repaying their loans. Another reason why several of these schools, including MIT and California Institute of Technology, have low defaults is that they have a large number of students in majors with low unemployment rates when they graduate.”

http://www.marketwatch.com/story/even-ivy-leaguers-default-on-student-loans-2013-09-11

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