Higher education (21 - 30 of 132 items)
Federal Student Loans: Challenges in Estimating Federal Subsidy Costs
GAO-05-874: Published: Sep 29, 2005. Publicly Released: Oct 26, 2005.
In fiscal year 2004, the federal government made or guaranteed about $84 billion in loans for postsecondary education through two loan programs--the Federal Family Education Loan Progam (FFELP) and the Federal Direct Loan Program (FDLP). Under FFELP, private lenders fund the loans and the government guarantees them a minimum yield and repayment if borrowers default. When the interest rate paid by...
Student Aid And Postsecondary Tax Preferences: Limited Research Exists on Effectiveness of Tools to Assist Students and Families through Title IV Student Aid and Tax Preferences
GAO-05-684: Published: Jul 29, 2005. Publicly Released: Aug 29, 2005.
Federal assistance helps students and families pay for postsecondary education through several policy tools--grant and loan programs authorized by title IV of the Higher Education Act of 1965 and more recently enacted tax preferences. In fiscal year 2004, about $14 billion in grants and $56 billion in loans were made under title IV while estimated outlay equivalents for postsecondary tax preferenc...
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...
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...
Direct Student Loan Program: Management Actions Could Enhance Customer Service
GAO-04-107: Published: Nov 20, 2003. Publicly Released: Nov 20, 2003.
In 1993, Congress authorized the William D. Ford Federal Direct Loan Program as an alternative to the Federal Family Education Loan Program (FFELP). While the Direct Loan Program was originally mandated to replace FFELP, Congress revised the law allowing both loan programs to continue. Since that time, competition between the programs has been credited with improving borrower benefits and service...
Federal Student Aid: Expanding Eligibility for Less Than Halftime Students Could Increase Program Costs, But Benefits Uncertain
GAO-03-905: Published: Sep 10, 2003. Publicly Released: Oct 14, 2003.
Despite the availability of federal, state, and other sources of student aid, concerns have been raised that adult undergraduates--those 24 and older--receive inadequate assistance in meeting the costs of postsecondary education, particularly those adults who take one to five credits per term (or less than halftime). These concerns have been raised because less-than halftime adult students are una...
Student Financial Aid: Monitoring Aid Greater Than Federally Defined Need Could Help Address Student Loan Indebtedness
GAO-03-508: Published: Apr 30, 2003. Publicly Released: Apr 30, 2003.
Over half of the $80.4 billion in financial aid provided to college students in the 2000-01 school year came from the federal government in the form of grants and loans provided under Title IV of the Higher Education Act (HEA). To help finance their education, students and families may have received other funds from states, private groups or lenders, and/or the schools themselves. We initiated thi...
Student Aid and Tax Benefits: Better Research and Guidance Will Facilitate Comparison of Effectiveness and Student Use
GAO-02-751: Published: Sep 13, 2002. Publicly Released: Sep 13, 2002.
Title IV of the Higher Education Act (HEA), as first adopted in 1965, authorizes federal grant and loan programs, providing a total of $53 billion in assistance to 8.1 million students in fiscal year 1999. The Taxpayer Relief Act of 1997 allowed eligible taxpayers to reduce their tax liability by receiving up to $1,500 HOPE or $1,000 Lifetime Learning tax credit for tuition and course-related fees...
Federal Student Loans: Flexible Agreements with Guaranty Agencies Warrant Careful Evaluation
GAO-02-254: Published: Jan 31, 2002. Publicly Released: Jan 31, 2002.
The relationship between the Department of Education and state-designated guaranty agencies that run the largest federal student loan program is changing in order to achieve program and cost efficiencies and improve delivery of student financial aid. These state or private not-for-profit agencies guarantee payment if students fail to repay loans obtained through the Federal Family Education Loan p...
Alternative Market Mechanisms for the Student Loan Program
GAO-02-84SP: Published: Dec 18, 2001. Publicly Released: Dec 18, 2001.
This report reflects the results of a collaborative effort between GAO and representatives of the Secretary of Education. As required by the Higher Education Amendments of 1998, GAO formed a study group to identify and evaluate a means of establishing a market mechanism for the delivery of student loans. This study group consisted of representatives of the Department of the Treasury, Office of Man...