Friday, September 19, 2008

The Quick and the Ed Strikes Again

by Andrew Gillen

Chad Aldeman, over at The Quick and the Ed, calls BS on trying to blame the jump in student loan defaults on the hurricanes:
Total defaults increased a lot faster than the ones in hurricane-ravaged states
He closes with a sensible call to report default rates that actually track the proportion of defaults over the lifetime of the loan, rather than the 2 or 3 year default rates that are currently used.

Amen on both counts.

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