A high default rate might mean that students who borrowed never completed their educational program, or that they were unable to find jobs and repay the loans when they graduated. Colleges with consistently high default rates may be barred from student loan programs, and students attending these institutions may find they're ineligible for Federal loans. Colleges should be able to refer you to current students or recent graduates of their programs. These individuals can give you their opinion about classes, facilities, the faculty and the skills they've learned. Students should know how much time it takes to complete a program before they enroll in it.
Programs can last anywhere from a few months to several years.
Job placement rates are particularly important for vocational programs. If a very low percentage of students are employed in their area of training a year after completing the program, there may be a problem. It can also be useful to ask about beginning salaries of program graduates and the institution's career advising and placement services for its students. Students applying to four-year colleges may want to know how many graduates go on to graduate or professional education. Federal financial aid is available only to students attending eligible institutions.