Government guaranteed loans (31 - 40 of 79 items)
HEAF 1992 Financial Condition
HRD-93-21R: Published: Jun 18, 1993. Publicly Released: Jun 18, 1993.
Pursuant to a congressional request, GAO provided information on the federal costs for liquidation of the Higher Education Assistance Foundation (HEAF) in fiscal year (FY) 1992. GAO noted that: (1) the net costs for HEAF liquidation in FY 1992 were $6.9 million; (2) although HEAF assets increased by $138.3 million in FY 1992, its costs were $145.2 million; (3) HEAF affiliates excused $46.5 million...
Direct Student Loans: The Department of Education's Implementation of Direct Lending
T-HRD-93-26: Published: Jun 10, 1993. Publicly Released: Jun 10, 1993.
GAO discussed the Department of Education's implementation of the Federal Direct Student Loan Program. GAO noted that: (1) the guaranteed student loan program has been the subject of scrutiny during the last few years due to the rising costs related to defaulted student loans; (2) Education lacks the resources and enforcement tools to monitor and oversee the large group of program participants; (3...
Comments on CRS Direct Loan Report
HRD-93-20R: Published: Apr 29, 1993. Publicly Released: Apr 29, 1993.
Pursuant to a congressional request, GAO reviewed the Congressional Research Service's (CRS) contentions that: (1) converting the Federal Family Education Loan Program into a direct lending program would not increase national income or achieve great savings; (2) federal administrative costs could absorb whatever interest savings direct lending generated; and (3) guaranteed and direct lending progr...
Direct Loan Debate
HRD-93-15R: Published: Feb 8, 1993. Publicly Released: Feb 8, 1993.
GAO responded to claims that it understated or excluded costs that biased a report favoring the conversion of the Federal Family Education Loan Program to a direct loan program. GAO believes that: (1) its report provided a sound and balanced assessment of the savings which could be realized under a direct loan program; (2) future guaranty agency insolvencies are not relevant to the direct loan deb...
High Risk Series: Guaranteed Student Loans
HR-93-2: Published: Dec 1, 1992. Publicly Released: Dec 1, 1992.
GAO reviewed the Department of Education's management of the Guaranteed Student Loan Program, focusing on the: (1) program's structural flaws; and (2) lack of adequate incentives to prevent loan defaults.GAO found that: (1) the federal government's risk of loan losses has increased greatly as the program has evolved; (2) the government has increased its financial exposure, since it provided intere...
Student Loans: Direct Loans Could Save Billions in First 5 Years With Proper Implementation
HRD-93-27: Published: Nov 25, 1992. Publicly Released: Nov 25, 1992.
Pursuant to a congressional request, GAO reviewed potential savings to the government by using direct rather than guaranteed loans to provide assistance to postsecondary school students, focusing on: (1) how direct loans achieve cost savings; and (2) the impact of direct lending on financial institutions.GAO found that: (1) direct student loans could save the federal government about $4.8 billion...
Guaranty Agency Solvency: Can the Government Recover HEAF's First-Year Liquidation Cost of $212 Million?
HRD-93-12BR: Published: Nov 13, 1992. Publicly Released: Nov 13, 1992.
Pursuant to a congressional request, GAO provided information on 1991 federal costs incurred due to the Department of Education's agreement to liquidate the Higher Education Assistance Foundation (HEAF).GAO found that: (1) prior to 1992, Education was not obligated to pay lenders' default claims if a guaranty agency became insolvent or failed to meet its obligations; (2) Education may provide fede...
Parent and Supplemental Student Loans: Volume and Default Trends for Fiscal Years 1989 to 1991
HRD-92-138FS: Published: Sep 22, 1992. Publicly Released: Sep 22, 1992.
Pursuant to a congressional request, GAO provided information about the Federal Parent Loans for Undergraduate Students (PLUS) and Federal Supplemental Loans for Students (SLS) programs, focusing on the: (1) volume of loans for students attending trade schools and other postsecondary education institutions; (2) extent of borrowing for freshmen, compared to such borrowing for students in their seco...
Stafford Student Loans: Prompt Payment of Origination Fees Could Reduce Costs
HRD-92-61: Published: Jul 24, 1992. Publicly Released: Jul 24, 1992.
Pursuant to a congressional request, GAO reviewed the Department of Education's collection of origination fees paid on Stafford student loans, focusing on: (1) the extent of and reasons for the delayed receipt of origination fees; and (2) actions needed to facilitate the prompt receipt of the fees.GAO found that: (1) Education is incurring unnecessary interest costs because it does not receive fee...
Guaranteed Student Loans: Eliminating Interest Rate Floors Could Generate Substantial Savings
HRD-92-113: Published: Jul 21, 1992. Publicly Released: Jul 21, 1992.
Pursuant to a congressional request, GAO provided information on how interest rate floors on certain guaranteed student loans affect the federal government's and students' costs when rates on short-term government securities decline.GAO found that: (1) the federal government and student borrowers could save several hundred million dollars in future interest payments if the Department of Education...