Student financial aid (71 - 80 of 111 items)
HEAF 1992 Financial Condition
HRD-93-21R: Published: Jun 18, 1993. Publicly Released: Jun 18, 1993.
Pursuant to a congressional request, GAO provided information on the federal costs for liquidation of the Higher Education Assistance Foundation (HEAF) in fiscal year (FY) 1992. GAO noted that: (1) the net costs for HEAF liquidation in FY 1992 were $6.9 million; (2) although HEAF assets increased by $138.3 million in FY 1992, its costs were $145.2 million; (3) HEAF affiliates excused $46.5 million...
Direct Student Loans: The Department of Education's Implementation of Direct Lending
T-HRD-93-26: Published: Jun 10, 1993. Publicly Released: Jun 10, 1993.
GAO discussed the Department of Education's implementation of the Federal Direct Student Loan Program. GAO noted that: (1) the guaranteed student loan program has been the subject of scrutiny during the last few years due to the rising costs related to defaulted student loans; (2) Education lacks the resources and enforcement tools to monitor and oversee the large group of program participants; (3...
Guaranty Agency Solvency: Can the Government Recover HEAF's First-Year Liquidation Cost of $212 Million?
HRD-93-12BR: Published: Nov 13, 1992. Publicly Released: Nov 13, 1992.
Pursuant to a congressional request, GAO provided information on 1991 federal costs incurred due to the Department of Education's agreement to liquidate the Higher Education Assistance Foundation (HEAF).GAO found that: (1) prior to 1992, Education was not obligated to pay lenders' default claims if a guaranty agency became insolvent or failed to meet its obligations; (2) Education may provide fede...
Parent and Supplemental Student Loans: Volume and Default Trends for Fiscal Years 1989 to 1991
HRD-92-138FS: Published: Sep 22, 1992. Publicly Released: Sep 22, 1992.
Pursuant to a congressional request, GAO provided information about the Federal Parent Loans for Undergraduate Students (PLUS) and Federal Supplemental Loans for Students (SLS) programs, focusing on the: (1) volume of loans for students attending trade schools and other postsecondary education institutions; (2) extent of borrowing for freshmen, compared to such borrowing for students in their seco...
Guaranteed Student Loans: Eliminating Interest Rate Floors Could Generate Substantial Savings
HRD-92-113: Published: Jul 21, 1992. Publicly Released: Jul 21, 1992.
Pursuant to a congressional request, GAO provided information on how interest rate floors on certain guaranteed student loans affect the federal government's and students' costs when rates on short-term government securities decline.GAO found that: (1) the federal government and student borrowers could save several hundred million dollars in future interest payments if the Department of Education...
Stafford Student Loan Program: Correspondence Schools' Loan Volume Declines Sharply
HRD-92-62FS: Published: Mar 13, 1992. Publicly Released: Mar 13, 1992.
Pursuant to a congressional request, GAO provided information on correspondence schools' participation in the Stafford Student Loan Program, focusing on the rates at which students from those schools default on their student loans.GAO found that: (1) between fiscal year (FY) 1987 and FY 1989, students at the 30 coorespondence schools eligible to participate in the Stafford Program received about $...
Stafford Student Loans: Lower Subsidy Payments Could Achieve Savings Without Affecting Access
HRD-92-7: Published: Jan 6, 1992. Publicly Released: Jan 6, 1992.
GAO reviewed the Stafford Student Loan Program, focusing on the potential effect of lower federal subsidy rates on the volume of Stafford loans supplied by commercial lenders.GAO found that: (1) moderate reductions to the special allowance could generate substantial program savings without jeopardizing the program's reliance on private loan capital; (2) a special allowance factor of 3 percent coul...
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...
Medical Residents: Options Exist to Make Student Loan Payments Manageable
HRD-92-21: Published: Nov 26, 1991. Publicly Released: Nov 26, 1991.
Pursuant to a congressional request, GAO evaluated medical residents' ability to repay their educational debts.GAO found that: (1) medical residents who are required to make principal or interest payments on their Stafford loans could incur financial hardship; (2) without forbearance, third- and fifth-year residents would spend about 17 and 18 percent, respectively, of gross income to repay their...
Student Financial Aid: Education Can Do More to Screen Schools Before Students Receive Aid
HRD-91-145: Published: Sep 27, 1991. Publicly Released: Sep 27, 1991.
Pursuant to a congressional request, GAO determined what changes might strengthen the Department of Education's role as the gatekeeper for approving schools before their students can receive federal student aid, focusing on proprietary schools.GAO found that: (1) Education does not have adequate controls in place to prevent financially weak schools and schools that do not provide promised training...