This is what we learned from used today. PIRS will be rating system without ratings. This is probably a good thing as I have never felt the original proposal was a proper role for government. I do think it is appropriate to rate colleges based on Title IV participation. This would be quite simple to do as it already exists and merely needs tweaking.
Title IV Eligible, No Conditions
Title IV Eligible, Conditional (USED management or Accreditor actions)
Title IV Ineligible, Failed to Maintain Standards
Title IV – Non-participant
I am pretty sure the ratings would have captured about the same concepts, perhaps adding an additional top category to try and distinguish most-favored from less-favored.
Pretty simple, huh?