Government guaranteed loans (51 - 58 of 58 items)
Defaulted Student Loans: Private Lender Collection Efforts Often Inadequate
HRD-87-48: Published: Aug 20, 1987. Publicly Released: Aug 20, 1987.
GAO evaluated the Department of Education's and guaranty agencies' policies and procedures in paying default claims under the Guaranteed Student Loan Program to determine whether they adequately protected the federal government's financial interest and minimized unnecessary insurance costs.GAO found that: (1) although most of the guaranty agencies developed standards for collecting loans and filin...
Guaranteed Student Loans: Guidelines for Reducing Guaranty Agency Reserves
HRD-86-129BR: Published: Aug 7, 1986. Publicly Released: Aug 7, 1986.
Pursuant to a congressional request, GAO: (1) provided guidelines for determining the maximum amount of cash reserves necessary to guarantee loans under the Guaranteed Student Loan Program; and (2) estimated the effects the guidelines would have if they were implemented in fiscal year (FY) 1986.GAO noted that agencies should establish their own maximum reserves based upon their potential to experi...
Defaulted Student Loans: Guaranty Agencies' Collection Practices and Procedures
HRD-86-114BR: Published: Jul 17, 1986. Publicly Released: Jul 17, 1986.
Pursuant to a congressional request, GAO reviewed the methods used by the Department of Education and state or nonprofit loan guaranty agencies to collect defaulted student loans.GAO found that: (1) guaranty agencies provide preclaims assistance to lenders, process lenders' claims, collect loans, prepare forms for Education, and perform litigation of defaulters; (2) guaranty agencies' standard pro...
Guaranteed Student Loans: Better Criteria Needed for Financing Guarantee Agencies
HRD-86-57: Published: Jul 2, 1986. Publicly Released: Jul 2, 1986.
GAO reported on the financing of guarantee agencies under the Department of Education's Guaranteed Student Loan Program, specifically whether reserves exceed the risks guarantee agencies are asked to assume, at the expense of the federal government and student borrowers.GAO found that: (1) guarantee agencies decided for themselves the levels of reserve funds they needed, but they accumulated more...
Guarantee Agency Funding, Operations, and Reserves Under the Guaranteed Student Loan Program
127236: Jun 20, 1985
GAO reviewed the guarantee agencies under the Guaranteed Student Loan Program (GSLP) with emphasis on how those agencies are financed and how they accumulate, maintain, and use reserve funds. There are 47 organizations that serve as the guarantee agencies for 58 separate reporting units under GSLP and act as the middleman between the Department of Education and lenders. Federal funds in the form o...
The Department of Education's Actions To Collect Defaulted Student Loans
127222: Jun 19, 1985
Pursuant to a congressional request, testimony was given concerning the Department of Education's use of private collection agencies to collect defaulted student loans under the Federally Insured Student Loan Program and the National Direct Student Loan Program. GAO found that Education has taken steps to improve collections and has increased in-house and contract collections with less departmenta...
Office of Education's Basic Grant Program Can Be Improved
HRD-77-91: Published: Sep 21, 1977. Publicly Released: Sep 21, 1977.
The Basic Educational Opportunity Grant Program has provided financial aid to needy students, but often it has not met its legislative goal of being the foundation of financial aid for needy students.The Office of Education has not established adequate controls to guarantee that information supplied by applicants and parents is accurate. As much as $24.3 million may have been awarded to ineligible...
Guaranteed Student Loan Program Bankruptcies
HRD-77-83: Published: Apr 15, 1977. Publicly Released: Apr 15, 1977.
Under the Guaranteed Student Loan program, loans are made to students by participating private lenders. These loans are insured by the U.S. Office of Education or by State or private nonprofit guarantee agencies which have reinsurance agreements with the Office. The Federal Government pays 100% of lender losses on default and bankruptcy claims on Office of Education insured loans, and reimburses S...