Wall Street Journal
June 17th, 2015
Most colleges can’t keep their doors open without an accreditor’s
seal of approval, which is needed to get students access to federal
loans and grants. But accreditors hardly ever kick out the
worst-performing colleges and lack uniform standards for assessing
graduation rates and loan defaults.
Those problems are blamed by critics for deepening the student-debt crisis as college costs soared
during the past decade. Last year alone, the U.S. government sent $16
billion in aid to students at four-year colleges that graduated less
than one-third of their students within six years, according to an
analysis by The Wall Street Journal of the latest available federal
Nearly 350 out of more than 1,500 four-year colleges now
accredited by one of six regional commissions have a lower graduation
rate or higher student-loan default rate than the average among the
colleges that were banished by the same accreditors since 2000, the Journal’s analysis shows.