Student financial aid (61 - 70 of 200 items)
Federal Student Loan Repayment Program: OPM Could Build on Its Efforts to Help Agencies Administer the Program and Measure Results
GAO-05-762: Published: Jul 22, 2005. Publicly Released: Jul 22, 2005.
As federal workers retire in greater numbers, agencies will need to recruit and retain a new wave of talented individuals. Agencies need to determine if the federal student loan repayment (SLR) program is one of the best ways to make maximum use of available funds to attract and keep this key talent. GAO was asked to identify (1) why agencies use or are not using the program; (2) how agencies are...
Department of Education's Update of the State and Other Tax Allowance for Student Aid Award Year 2005-2006
GAO-05-408R: Published: Mar 22, 2005. Publicly Released: Apr 21, 2005.
This letter responds to a Congressional request concerning our January 21, 2005, report Student Financial Aid: Need Determination Could Be Enhanced through Improvements in Education's Estimate of Applicants' State Tax Payments (GAO-05-105). The Department of Education (Education) proposed an update to the state and other tax allowance, a part of the federal need analysis for student financial aid...
Consolidation Loan Borrower Interest Rates
GAO-05-389R: Published: Feb 25, 2005. Publicly Released: Mar 10, 2005.
This letter responds to a question from the Chairman, House Committee on Education and the Workforce, related to the recommendation we made in our October 31, 2003, report Student Loan Programs: As Federal Costs of Loan Consolidation Rise, Other Options Should Be Examined (GAO-04-101), which we completed at the Chairman's request. We reported that then recent trends in interest rates and consolida...
Student Financial Aid: Need Determination Could Be Enhanced through Improvements in Education's Estimate of Applicants' State Tax Payments
GAO-05-105: Published: Jan 21, 2005. Publicly Released: Jan 28, 2005.
In 2003, the Department of Education (Education) proposed an update to the state and other tax allowance, a part of the federal need analysis for student financial aid. Most federal aid as well as some state and institutional aid is awarded based on the student's cost of attendance less the student's and/or family's ability to pay these costs--known as the expected family contribution (EFC). The a...
Federal Family Education Loan Program: More Oversight Is Needed for Schools That Are Lenders
GAO-05-184: Published: Jan 24, 2005. Publicly Released: Jan 24, 2005.
In fiscal year 2004, lenders made about $65 billion in loans through the Federal Family Education Loan Program (FFELP) to assist students in paying for postsecondary education. The Higher Education Act (HEA), which authorizes FFELP, broadly defined eligible lenders--including schools. The Department of Education's (Education) Office of Federal Student Aid (FSA) is responsible for ensuring that len...
Office of Federal Student Aid: Better Strategic and Human Capital Planning Would Help Sustain Management Progress
GAO-05-31: Published: Oct 6, 2004. Publicly Released: Oct 6, 2004.
In 2003, the Department of Education's Office of Federal Student Aid (FSA) managed about $60 billion in new financial aid. In 1998, the Congress designated FSA as a performance-based organization. In so doing, it specified purposes for the agency, such as to reduce program costs and increase accountability of its officials, and provided flexibilities such as allowing FSA to pay bonuses. Also FSA i...
Student Consolidation Loans: Further Analysis Could Lead to Enhanced Default Assumptions for Budgetary Cost Estimates
GAO-04-843: Published: Aug 20, 2004. Publicly Released: Aug 20, 2004.
The number of borrowers consolidating their federal student loans has increased substantially in recent years, with the total amount of loans being consolidated rising from $13 billion in fiscal year 1999 to over $41 billion in fiscal year 2003. This increase in consolidation loan volume and recent interest rate trends have increased the overall estimated long-term cost to the federal government o...
Student Loan Programs: Lower Interest Rates and Higher Loan Volume Have Increased Federal Consolidation Loan Costs
GAO-04-568T: Published: Mar 17, 2004. Publicly Released: Mar 17, 2004.
Consolidation loans, available under the Department of Education's (Education) two major student loan programs--the Federal Family Education Loan Program (FFELP) and the William D. Ford Direct Loan Program (FDLP)--help borrowers manage their student loan debt. By combining multiple loans into one loan and extending the repayment period, a consolidation loan reduces monthly repayments, which may lo...
Distance Education: Improved Data on Program Costs and Guidelines on Quality Assessments Needed to Inform Federal Policy
GAO-04-279: Published: Feb 26, 2004. Publicly Released: Feb 26, 2004.
Distance education--that is, offering courses by Internet, video, or other forms outside the classroom--has changed considerably in recent years and is a growing force in postsecondary education. More than a decade ago, concerns about fraud and abuse by some correspondence schools led to federal restrictions on, among other things, the percentage of courses a school could provide by distance educa...
Student Loan Programs: As Federal Costs of Loan Consolidation Rise, Other Options Should Be Examined
GAO-04-101: Published: Oct 31, 2003. Publicly Released: Dec 1, 2003.
The federal government makes consolidation loans available to help borrowers manage their student loan debt. By combining loans into one and extending the repayment period, a consolidation loan reduces monthly repayments, which may lower default risk and, thereby, reduce federal costs of loan defaults. Consolidation loans also allow borrowers to lock in a fixed interest rate--an option not availab...