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The Characteristics Associated with Student - page 46 / 94

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Default

High School Chemistry Credits

No

Yes

All Undergraduates

N 12,176

% of row

95.3

N 600

% of row

4.7

Total 12,776

724

93.9

47

6.1

771

9,675

95.8

420

4.2

10,095

584

93.1

43

6.9

627

1,193

93.0

90

7.0

1,283

12,176

95.3

600

4.7

12,776

SAT Equivalency Score

Number of High School Foreign Language Credits

The number of Foreign Language Credits has a moderate and statistically significant relationship to default. While student borrowers who take fewer than two credits of foreign languages have a 6.0 percent default rate, borrowers who take at least two credits but less than three credits have only a 4.2 percent default rate. But more is not always better: borrowers who complete three or more credits of a foreign language have a 6.9 percent default rate. The initial evidence suggests that taking three or more credits of a foreign language comes at the expense of studying in other subject areas, such as science, that are more strongly associated with lower risks of default. For example, borrowers who take three or more credits of a foreign language are highly unlikely to have any credits tallied in the Other Science Credits variable.

High School Foreign Language Credits

  • 0

    - 1.5

2 - 2.5 3 or more Missing All Undergraduates

Total

% of

% of

row

N

row

N

No

Default

Yes

The SAT Equivalency Score, which represents a conversion of non-SAT scores to the SAT scale for student’s who took the ACT, has a statistically significant relationship to default. As hypothesized, borrowers with higher equivalency scores have lower default rates. For borrowers with scores of 900 or below, the default rate is 6.9 percent -- compared to a default rate of 4.4 percent for borrowers who have scores between 901 and 1400. While this is an interesting finding, it may be of little practical use, since the vast majority of borrowers have scores in the 901 to 1400 range.

43

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