Lending institutions (21 - 30 of 32 items)
Untangling the Stafford Student Loan Program
147034: Jan 1, 1992
This article, which appeared in the GAO Journal, No. 15, Spring/Summer 1992, discusses problems that make the Department of Education's Stafford Student Loan Program highly vulnerable to fraud and abuse, focusing on ways to address such issues as: (1) the high default rate resulting from the acceptance of high-risk student borrowers; (2) dishonest school officials; (3) negligent lenders; (4) unrel...
Direct Student Loans Could Save Money and Simplify Program Administration
T-HRD-92-8: Published: Oct 29, 1991. Publicly Released: Oct 29, 1991.
GAO discussed the: (1) potential federal savings associated with replacing Stafford Student loans with direct loans; and (2) how a direct loan program will affect the Department of Education and post-secondary educational institutions. GAO noted that: (1) in fiscal year (FY) 1992, a direct loan program operating in place of the Stafford program could save over $1 billion; (2) under a direct loan p...
Student Loans: Direct Loans Could Save Money and Simplify Program Administration
HRD-91-144BR: Published: Sep 27, 1991. Publicly Released: Sep 27, 1991.
Pursuant to a congressional request, GAO: (1) determined whether federal savings can be expected by replacing Stafford student loans with direct loans under a direct loan program proposed by the National Association of State Universities and Land Grant Colleges; and (2) reviewed the administrative responsibilities that would accrue to educational institutions and the Department of Education from d...
Guaranteed Student Loans: Profits of Secondary Market Lenders Vary Widely
HRD-90-130BR: Published: Sep 28, 1990. Publicly Released: Sep 28, 1990.
Pursuant to a congressional request, GAO reviewed the activities of secondary market lenders that purchase loans made under the Department of Education's Stafford Student Loan Program to determine the: (1) lenders' rates of return or profitability on Stafford loans during fiscal years 1985 through 1988; (2) reasons for varying levels of profitability among those lenders; and (3) effects of the 198...
Financial Problems in the Stafford Student Loan Program
T-HRD-90-52: Published: Jul 27, 1990. Publicly Released: Jul 27, 1990.
GAO discussed the financial problems of the Stafford Student Loan Program and the growth in loans guaranteed and defaulted. GAO found that: (1) the Stafford Student Loan Program represented 61 percent of federal student aid for fiscal year 1990; (2) between fiscal years 1983 and 1989, the number of guaranteed loans increased from about $3 million to almost $4.7 million, and the number of defaulted...
Consolidated Student Loans: Borrowers Benefit but Costs to Them and the Government Grow
HRD-90-8: Published: Jun 15, 1990. Publicly Released: Jun 15, 1990.
Pursuant to a congressional request, GAO reviewed the impact of the student loan consolidation program under the Higher Education Amendments of 1986.GAO found that: (1) annual student loan default costs increased from $235 million in fiscal year 1981 to nearly $1.4 billion in 1986; (2) the loan consolidation program provides assistance to borrowers needing help repaying their student loans; (3) lo...
Guaranteed Student Loans: Credit Bureau Reporting Practices by Guaranty Agencies and Lenders
HRD-90-71BR: Published: Apr 9, 1990. Publicly Released: Apr 9, 1990.
Pursuant to a congressional request, GAO reviewed the implementation of the Higher Education Amendments of 1986, focusing on: (1) guaranty agencies' and lenders' actions; and (2) the provisions' effect on individuals' repayment of student loans.GAO found that: (1) all guaranty agencies had agreements with or reported student loan delinquencies to at least one of the six national credit bureaus, bu...
Supplemental Student Loans: Who Are the Largest Lenders?
HRD-90-72FS: Published: Feb 21, 1990. Publicly Released: Feb 21, 1990.
Pursuant to a congressional request, GAO reviewed loan volume and default data for lending institutions participating in the Supplemental Loans for Students (SLS) program.GAO found that: (1) the annual volume of new SLS program loans was $711 million in fiscal year (FY) 1987, $2 billion in FY 1988, and $2.1 billion in FY 1989; (2) the 10 largest lenders had a cumulative total of about $250 million...
Guaranteed Student Loans: Comparisons of Single State and Multistate Guaranty Agencies
HRD-89-92: Published: Jul 11, 1989. Publicly Released: Jul 11, 1989.
Pursuant to a legislative requirement, GAO compared the practices of multistate and single-state guaranty agencies which insure lenders against defaulted loans under the Department of Education's Stafford Student Loan Program.GAO found that: (1) guaranty agencies' loan volumes varied widely, with the largest agency insuring over $2 billion in new loans and paying over $200 million in default claim...
Guaranteed Student Loans: Lenders' Interest Billings Often Result in Overpayments
HRD-88-72: Published: Aug 31, 1988. Publicly Released: Aug 31, 1988.
GAO reviewed lenders' billings under the Guaranteed Student Loan Program to determine whether the Department of Education was incurring excessive costs related to its payment of interest and special-allowance subsidies, focusing on the extent to which: (1) lenders erred in billing Education for interest and special-allowance payments; (2) lender billing errors resulted in federal overpayments; and...