Two weeks ago, we wrote in favor of a proposal to change how student loan defaults are calculated for the purposes of college accountability. We argued that lengthening the timeframe the government uses to measure student loan defaults could bolster everyone's ability to judge the quality of education offered by different institutions of higher education. Unfortunately, the House of Representatives seems to have caved to pressure from the trade school industry in particular and significantly weakened the proposal in ways that make it less useful. Today, we take a look at the good, the bad, and the ugly of the House's action.
