Loan defaults (61 - 70 of 80 items)
Defaulted Student Loans: Guaranty Agencies' Collection Practices and Procedures
HRD-86-114BR: Published: Jul 17, 1986. Publicly Released: Jul 17, 1986.
Pursuant to a congressional request, GAO reviewed the methods used by the Department of Education and state or nonprofit loan guaranty agencies to collect defaulted student loans.GAO found that: (1) guaranty agencies provide preclaims assistance to lenders, process lenders' claims, collect loans, prepare forms for Education, and perform litigation of defaulters; (2) guaranty agencies' standard pro...
Guaranteed Student Loans: Better Criteria Needed for Financing Guarantee Agencies
HRD-86-57: Published: Jul 2, 1986. Publicly Released: Jul 2, 1986.
GAO reported on the financing of guarantee agencies under the Department of Education's Guaranteed Student Loan Program, specifically whether reserves exceed the risks guarantee agencies are asked to assume, at the expense of the federal government and student borrowers.GAO found that: (1) guarantee agencies decided for themselves the levels of reserve funds they needed, but they accumulated more...
Guarantee Agency Funding, Operations, and Reserves Under the Guaranteed Student Loan Program
127236: Jun 20, 1985
GAO reviewed the guarantee agencies under the Guaranteed Student Loan Program (GSLP) with emphasis on how those agencies are financed and how they accumulate, maintain, and use reserve funds. There are 47 organizations that serve as the guarantee agencies for 58 separate reporting units under GSLP and act as the middleman between the Department of Education and lenders. Federal funds in the form o...
The Department of Education's Actions To Collect Defaulted Student Loans
127222: Jun 19, 1985
Pursuant to a congressional request, testimony was given concerning the Department of Education's use of private collection agencies to collect defaulted student loans under the Federally Insured Student Loan Program and the National Direct Student Loan Program. GAO found that Education has taken steps to improve collections and has increased in-house and contract collections with less departmenta...
Student Loan Marketing Association's Loan Consolidation Program
121459: May 25, 1983
GAO presented information concerning the Student Loan Marketing Association (Sallie Mae) loan consolidation programs. Specifically, GAO discussed the program's costs and impact on defaults as well as potential legislative modifications affecting program expansion, interest rates, minimum loan amounts, and interest subsidies. GAO noted that Sallie Mae estimates that the consolidation program will c...
Noncitizen Student Loan Defaults
HRD-83-29: Published: Feb 7, 1983. Publicly Released: Feb 16, 1983.
In response to a congressional request, GAO examined defaults by noncitizens under the National Direct Student Loan (NDSL) program at six Chicago area institutions of higher education. GAO reviewed the authority that permits such loans to noncitizens, the discretion that schools have in making these loans, the number of noncitizen students that have loans, and the number of defaults.The Department...
Defaulted Loans Under the Guaranteed Student Loan Program
B-117604(7): Published: Nov 5, 1973. Publicly Released: Nov 9, 1982.
No summary is currently available...
GAO Reports Concerning Federal Student Financial Aid Programs
117445: Feb 3, 1982
GAO reported on the academic progress standards for students receiving Federal financial aid, the collection of defaulted National Direct Student Loans, and the Guaranteed Student Loan information system. An effective academic progress standard should measure the quality of students' work and rates of progress toward definite educational goals. Inconsistent, weak, and nonspecific Federal academic...
Stronger Actions Needed To Recover $730 Million in Defaulted National Direct Student Loans
HRD-81-124: Published: Sep 30, 1981. Publicly Released: Sep 30, 1981.
The loans of the National Direct Student Loan Program are made from revolving funds maintained by participating schools which are responsible for making loans and collecting repayments. The Federal Government provides 90 percent of the moneys for the revolving funds, while the schools provide 10 percent. The program has been plagued by a high default rate. GAO reviewed the program to determine how...
The Guaranteed Student Loan Information System Needs a Thorough Redesign To Account for the Expenditure of Billions
HRD-81-139: Published: Sep 24, 1981. Publicly Released: Sep 24, 1981.
The Department of Education's Guaranteed Student Loan Program guarantees loans to undergraduate and graduate college students by ensuring federal government loans directly and by reinsuring loans issued by states. To keep track of and to control this multibillion dollar program, Education maintains a computerized information system to process most program transactions. GAO reported on Education's...