Loan defaults (41 - 50 of 52 items)
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...
Noncitizen Student Loan Defaults
HRD-83-29: Published: Feb 7, 1983. Publicly Released: Feb 16, 1983.
In response to a congressional request, GAO examined defaults by noncitizens under the National Direct Student Loan (NDSL) program at six Chicago area institutions of higher education. GAO reviewed the authority that permits such loans to noncitizens, the discretion that schools have in making these loans, the number of noncitizen students that have loans, and the number of defaults.The Department...
Stronger Actions Needed To Recover $730 Million in Defaulted National Direct Student Loans
HRD-81-124: Published: Sep 30, 1981. Publicly Released: Sep 30, 1981.
The loans of the National Direct Student Loan Program are made from revolving funds maintained by participating schools which are responsible for making loans and collecting repayments. The Federal Government provides 90 percent of the moneys for the revolving funds, while the schools provide 10 percent. The program has been plagued by a high default rate. GAO reviewed the program to determine how...
The Guaranteed Student Loan Information System Needs a Thorough Redesign To Account for the Expenditure of Billions
HRD-81-139: Published: Sep 24, 1981. Publicly Released: Sep 24, 1981.
The Department of Education's Guaranteed Student Loan Program guarantees loans to undergraduate and graduate college students by ensuring federal government loans directly and by reinsuring loans issued by states. To keep track of and to control this multibillion dollar program, Education maintains a computerized information system to process most program transactions. GAO reported on Education's...
Veterans Administration Education Loan Program Should Be Terminated: Legislative Action Taken
HRD-81-128: Published: Aug 28, 1981. Publicly Released: Sep 15, 1981.
GAO expanded a followup review of the Veterans Administration (VA) education loan program to provide more geographic coverage and to determine whether eligible veterans and dependents were reporting all available resources, if veterans were also eligible for the Department of Education financial aid programs, and if such aid would satisfy their financial needs.GAO found that a number of actions ta...
Status of Special National Direct Student Loan Funds
HRD-80-125: Published: Sep 22, 1980. Publicly Released: Sep 22, 1980.
The National Direct Student Loan (NDSL) program provides for establishing a revolving fund at postsecondary educational institutions from which long-term, low-interest loans are made to qualified students who need financial assistance. The institutions are responsible for making and collecting the loans. Under the NDSL program, the Federal contribution represents 90 percent of the loan funds, and...
The Law Enforcement Education Program Is in Serious Financial Disarray
FGMSD-80-46: Published: Jun 4, 1980. Publicly Released: Jun 4, 1980.
Since 1969, the Law Enforcement Education Program (LEEP) made over $278 million in loans and grants without adequate management controls. The program was originally established by Congress in 1968 the purpose of assisting those working in law enforcement or planning to work in law enforcement to obtain a higher education. Under the program, grants and loans are made to individuals enrolled in law...