Loan defaults (11 - 20 of 80 items)
Federal Student Aid: Timely Performance Plans and Reports Would Help Guide and Assess Achievement of Default Management Goals
GAO-03-348: Published: Feb 14, 2003. Publicly Released: Feb 14, 2003.
During fiscal year 2002, an estimated 5.8 million people borrowed about $38 billion in federal student loans. Despite a dramatic reduction in annual default rates on those loans since fiscal year 1990 (from 22.4 to 5.9 percent), the total volume of dollars in default doubled to nearly $22 billion by fiscal year 2001 from about $11 billion in fiscal year 1990. During that same period, the total stu...
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...
Student Loans: Direct Loan Default Rates
GAO-01-68: Published: Oct 17, 2000. Publicly Released: Nov 16, 2000.
This report focuses on the default rate for student loans. Two major federal student loan programs, the Federal Direct Loan Program (FDLP) and the Federal Family Education Loan Program (FFELP), together provided student borrowers with about 9 million loans totaling about $42.9 billion in fiscal year 1999. The most recent student loan default rate statistics for schools showed that, overall, the di...
Student Loans: Default Rates Need To Be Computed More Appropriately
HEHS-99-135: Published: Jul 28, 1999. Publicly Released: Aug 27, 1999.
Pursuant to a congressional request, GAO reviewed the Department of Education's method of calculating a school's student loan default rate, focusing on: (1) whether there has been an increase in the number of borrowers who entered repayment but subsequently received deferments or forbearances; (2) what effect would excluding borrowers whose loans were in deferment or forbearance have on the most r...
Student Loans: Effect of Including Certain Types of Loans in Calculating Schools' Default Rates
HEHS-98-135R: Published: Apr 17, 1998. Publicly Released: Apr 17, 1998.
Pursuant to a congressional request, GAO provided information on the formula specified in the Higher Education Act of 1965 for calculating schools' student loan cohort default rates, focusing on the effect on schools' default rates of including loans in deferment or forbearance in the denominator of the formula.GAO noted that: (1) students may delay repaying their loans by obtaining a deferment or...
Student Loans: Characteristics of Students and Default Rates at Historically Black Colleges and Universities
HEHS-98-90: Published: Apr 9, 1998. Publicly Released: Apr 9, 1998.
Pursuant to a congressional request, GAO reviewed several issues regarding default rates at historically black colleges and universities (HBCU), focusing on: (1) a comparison of freshman students at HBCUs with those at all colleges and universities in terms of the academic and socioeconomic characteristics that have been linked to student loan defaults; (2) differences in socioeconomic characteris...
Proprietary Schools: Analysis of Comments Received From an Association of Schools
HEHS-98-12R: Published: Oct 10, 1997. Publicly Released: Oct 10, 1997.
Pursuant to a congressional request, GAO responded to the President of the American Association of Cosmetology Schools' (AACS) comments about certain findings in GAO's report on federal student financial aid being spent to train proprietary school students for oversupplied occupations.GAO noted that: (1) GAO reviewed AACS' comments and considered them in the context of GAO's work; (2) GAO does not...
Direct Student Loans: Analyses of Borrowers' Use of the Income Contingent Repayment Option
HEHS-97-155: Published: Aug 21, 1997. Publicly Released: Aug 21, 1997.
Pursuant to a congressional request, GAO reviewed borrowers' use of the William D. Ford Federal Direct Loan Program's (FDLP) income contingent repayment (ICR) plan, focusing on: (1) the extent to which borrowers are using ICR compared with other repayment plans available under FDLP; (2) how loan delinquencies and defaults under ICR compare with delinquencies and defaults under other FDLP repayment...
Proprietary Schools: Poorer Student Outcomes at Schools That Rely More on Federal Student Aid
HEHS-97-103: Published: Jun 13, 1997. Publicly Released: Jun 13, 1997.
Pursuant to a congressional request, GAO reviewed the relationship between school performance and reliance on title IV funds in the proprietary school sector.GAO noted that: (1) proprietary schools that relied more heavily on title IV funds tended to have poorer student outcomes; (2) GAO's analysis showed that, on average, the higher a school's reliance on title IV, the lower its students' complet...
High-Risk Series: Student Financial Aid
HR-97-11: Published: Feb 1, 1997. Publicly Released: Feb 1, 1997.
GAO reviewed the Department of Education's management and oversight of postsecondary student financial aid programs, focusing on the: (1) Federal Family Education Loan (FFELP) Program; (2) Ford Direct Loan Program (FDLP); and (3) Federal Pell Grant Program.GAO found that: (1) in fiscal year 1995, the federal government paid over $2.5 billion to make good its guarantee on defaulted student loans; (...