A bar chart showing that more selective schools with a 25% acceptance rate or lower have only about 3% of their students in default after three years. Moderately selective schools with a 25% to 50% acceptance rate and less selective schools with a 50% to 75% acceptance rate have about an 8% default rate among their students. Finally, the non-selective schools that accept more than 75% of applicants have a default rate of 9%.