By Bob Katzen

This bill would make colleges with undergraduate graduation rates of less than 30 percent or with an above average rate of students who default on student loans ineligible to receive state scholarship and financial aid funds.”

“I filed [the bill] because there are no safeguards in place to prevent state financial aid from being diverted to underperforming institutions, representing a significant disservice to taxpayers and to our students,” said sponsor Sen. Edward Kennedy (D-Lowell).