> the office estimates that 0.21% of the system’s financial aid was fraudulently disbursed, the spokesperson said
The optimal amount of fraud is non-zero. If your financial aid process actually has 0% fraud then it is guaranteed that (1) you spent more resources vetting applicants than saving from fraud and (2) a large chunk of deserving applications were denied in the process just to be extra careful. So the 0.21% seems pretty reasonable to me.
The optimal amount of fraud is non-zero. If your financial aid process actually has 0% fraud then it is guaranteed that (1) you spent more resources vetting applicants than saving from fraud and (2) a large chunk of deserving applications were denied in the process just to be extra careful. So the 0.21% seems pretty reasonable to me.