Loan defaults (41 - 50 of 80 items)
Vulnerabilities in the Stafford Student Loan Program
T-HRD-91-33: Published: May 29, 1991. Publicly Released: May 29, 1991.
GAO discussed ways to improve the structure and administration of the Department of Education's Stafford Student Loan Program. GAO believes that Education needs to: (1) do a better job of approving and monitoring eligible schools; (2) expedite the development of its new student loan data systems designed to screen out ineligible students before they receive guaranteed loans; (3) provide better inc...
Tax Policy: Refund Offset Program Benefits Appear to Exceed Costs
GGD-91-64: Published: May 14, 1991. Publicly Released: May 14, 1991.
Pursuant to a congressional request, GAO: (1) evaluated the effects of the Internal Revenue Service's (IRS) Refund Offset Program on the filing behavior of guaranteed student loan defaulters; and (2) compared the program's estimated benefits resulting from increased debt collections with the program's estimated costs.GAO found that: (1) offsetting refunds for the nonpayment of student loan debts i...
Student Loans: Characteristics of Defaulted Borrowers in the Stafford Student Loan Program
HRD-91-82BR: Published: Apr 26, 1991. Publicly Released: Apr 26, 1991.
Pursuant to a congressional request, GAO reviewed studies of the various characteristics of students who defaulted on loans obtained under the Stafford Student Loan Program.GAO found that: (1) 12 studies frequently identified such defaulter characteristics as vocational or trade school attendance, low income, minority background, limited financial support, no high school diploma, failure to comple...
Perkins Student Loans: Need for Better Controls Over Loans Recovered From Closed Schools
HRD-91-70: Published: Mar 27, 1991. Publicly Released: Mar 27, 1991.
Pursuant to a congressional request, GAO reviewed the Department of Education's Perkins Student Loan Program, focusing on Education's policies, procedures, and practices for recovering Perkins loan fund assets from schools that go out of business.GAO found that Education lacked: (1) adequate internal controls over Perkins fund assets obtained from closed schools; (2) adequate data and guidance for...
Stafford Student Loans: Millions of Dollars in Loans Awarded to Ineligible Borrowers
IMTEC-91-7: Published: Dec 12, 1990. Publicly Released: Jan 24, 1991.
Pursuant to a congressional request, GAO evaluated the Department of Education's database on Stafford student loans and how Education could use such data to prevent loan abuses.GAO found that: (1) about 32,000 students who had defaulted on loans totalling over $54 million later received new loans worth over $109 million; (2) Education may have made up to $5 million in loans to students in excess o...
Defaulted Student Loans: Analysis of Defaulted Borrowers at Schools Accredited by Seven Agencies
HRD-90-178FS: Published: Sep 12, 1990. Publicly Released: Sep 12, 1990.
Pursuant to a congressional request, GAO provided information on the default rates in the Department of Education's Stafford Student Loan Program for postsecondary schools accredited by seven agencies.GAO found that: (1) the number of schools accredited by the agencies ranged from 16 to 781; (2) the number of borrowers in repayment by accrediting agency ranged from 16,413 to 353,872, and the loan...
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...