Government guaranteed loans (1 - 10 of 79 items)
Student Loans: Oversight of Servicemembers' Interest Rate Cap Could Be Strengthened
GAO-17-4: Published: Nov 15, 2016. Publicly Released: Nov 18, 2016.
The Servicemembers Civil Relief Act (SCRA) provides servicemembers with an interest rate cap of 6 percent on student loans while they are on active duty. The number of servicemembers with federal student loans who received this rate cap increased as a result of the Department of Education (Education) requiring federal loan servicers to regularly use the Department of Defense's (DOD) SCRA website t...
Federal Student Loans: Impact of Loan Limit Increases on College Prices Is Difficult to Discern
GAO-14-7: Published: Feb 18, 2014. Publicly Released: Feb 18, 2014.
For more than a decade, college prices have been rising consistently and have continued to rise at a gradual pace after the Stafford loan limit increases were enacted in 2008 and 2009. However, it is difficult to determine if a direct relationship exists between increases in college prices and the Stafford loan limit increases because of the confluence of many other factors that occurred around th...
Federal Student Loans: Borrower Interest Rates Cannot Be Set in Advance to Precisely and Consistently Balance Federal Revenues and Costs
GAO-14-234: Published: Jan 31, 2014. Publicly Released: Jan 31, 2014.
Total Direct Loan administrative costs grew from $314 million to $864 million from fiscal years 2007 to 2012, but federal costs per borrower have generally remained steady or fallen. The increase in total administrative costs largely results from an increase of over 300 percent in the number of Direct Loans during that same time period. One key factor contributing to this loan volume increase was...
Federal Student Loans: Patterns in Tuition, Enrollment, and Federal Stafford Loan Borrowing Up to the 2007-08 Loan Limit Increase
GAO-11-470R: Published: May 25, 2011. Publicly Released: May 25, 2011.
Although a postsecondary education is vitally important to many individuals and the nation's ability to compete globally, high college tuition rates are prompting concerns that it may remain an elusive goal for some. To help students finance their education, Congress recently raised the ceiling on the amount individual students can borrow under the federal Stafford Loan program (referred to in leg...
Student Loans: Federal Web-based Tool on Private Loans Would Pose Implementation Challenges and May Be Unnecessary
GAO-10-990: Published: Sep 29, 2010. Publicly Released: Sep 29, 2010.
Student loans play a key role in ensuring postsecondary access for millions of students each year. In fiscal year 2009, students and their families borrowed $90 billion in federal student loans to help pay the cost of postsecondary education. Traditionally, these loans have been available through two programs: the William D. Ford Federal Direct Loan Program (Direct Loan), in which the federal gove...
Higher Education: Factors Lenders Consider in Making Lending Decisions for Private Education Loans
GAO-10-86R: Published: Nov 17, 2009. Publicly Released: Nov 17, 2009.
Over the past few decades, the cost of tuition, room, and board for undergraduate students has increased, making it more difficult for some students and families to afford the cost of college. While students have historically relied on federal loans and grants and family contributions to pay for college, a growing number have turned to private education loans to help them cover the cost. In 2007-0...
Proprietary Schools: Improved Department of Education Oversight Needed to Help Ensure Only Eligible Students Receive Federal Student Aid
GAO-10-127T: Published: Oct 14, 2009. Publicly Released: Oct 14, 2009.
This testimony discusses the Department of Education's oversight of student eligibility for federal aid at private for-profit schools, also known as proprietary schools. Education's monitoring of eligibility requirements is part of a larger oversight structure governing federal aid to students at all schools. For example, in order to receive federal aid, students must attend schools that are legal...
Proprietary Schools: Stronger Department of Education Oversight Needed to Help Ensure Only Eligible Students Receive Federal Student Aid
GAO-09-600: Published: Aug 17, 2009. Publicly Released: Sep 21, 2009.
For-profit schools-also known as proprietary schools-received over $16 billion in federal loans, grants, and campus-based aid under Title IV of the Higher Education Act in 2007/08. GAO was asked to determine (1) how the student loan default profile of proprietary schools compares with that of other types of schools and (2) the extent to which Education's policies and procedures for monitoring stud...
Federal Family Education Loan Program: Statutory and Regulatory Changes Could Avert Billions in Unnecessary Federal Subsidy Payments
GAO-04-1070: Published: Sep 20, 2004. Publicly Released: Sep 20, 2004.
To encourage lenders to make student loans under the Federal Family Education Loan Program (FFELP), the federal government guarantees lenders a statutorily specified rate of return--called lender yield. Some lenders may issue tax-exempt bonds to raise capital to make or purchase loans; loans financed with such bonds issued prior to 10/1/93 are guaranteed a minimum lender yield of 9.5% (hereafter c...
Student Loans: Direct Loan Default Rates
GAO-01-68: Published: Oct 17, 2000. Publicly Released: Nov 16, 2000.
This report focuses on the default rate for student loans. Two major federal student loan programs, the Federal Direct Loan Program (FDLP) and the Federal Family Education Loan Program (FFELP), together provided student borrowers with about 9 million loans totaling about $42.9 billion in fiscal year 1999. The most recent student loan default rate statistics for schools showed that, overall, the di...