Introduces a risk index that provides a way to understand the human dimension of student loan defaults. It correlates with default and the type of school attended and relates to the amount borrowed and help received from others during repayment. Students with high risk scores borrow smaller amounts and are less likely to be helped by others. (JOW)

The author argues that there are significant public payoffs associated with proprietary schools and that it is good social policy to allow these schools' students to receive student aid awards. Proprietary schools in general are briefly described, although their diversity is accentuated. (CH)