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# The Characteristics Associated with Student - page 39 / 94

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Borrowers who have missing admission types belong disproportionately to the earlier cohorts, which have higher default rates than later cohorts. This might explain why the missing category in the table has a higher than average default rate

153

99.4

1

0.6

154

3,550

96.3

137

3.7

3,687

5,620

95.6

258

4.4

5,878

923

94.9

50

5.1

973

15

93.8

1

6.3

16

1,915

92.6

153

7.4

2,068

12,176

95.3

600

4.7

12,776

Total

% of

% of

row

N

row

N

No

Default

Yes

# Lowest Number of Hours per Semester

The lower the lowest number of hours taken in a semester by borrowers, the smaller is the default rate for that group. Thus, borrowers who took as few as one (1) hour in a semester had a default rate of 1.9 percent. In contrast, borrowers who never took fewer than 10 hours in a semester had a default rate of 6.8 percent. Though the relationship between the Lowest Number of Semester Hours and default is statistically significant, it is not strong compared to other variables in the study.

This variable is strongly related to whether borrowers graduate. As undergraduate students approach the end of their degree programs, they frequently have only one or two classes or a lab or a paper to finish before graduating. On the other hand, students who withdraw early in their college career frequently do so without ever taking less than a full-time load of classes. As it turns out, the graduation rate of borrowers who took as few as one (1) hour during a semester is almost 90 percent, while the graduation rate for borrowers whose minimum semester hours was 10 or more is 55 percent. The relationship between Lowest Number of Semester Hours and default is really largely a relationship between graduation and default.

1 2-6 7-9

N

704 6,640 2,577

% of row

98.1 95.9 94.9

14

1.9

718

283

4.1

6,923

138

5.1

2,715

Total

# N

% of row

36

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