Student loans (1 - 10 of 95 items)
Federal Student Loans: Education Could Improve Direct Loan Program Customer Service and Oversight
GAO-16-523: Published: May 16, 2016. Publicly Released: Jun 15, 2016.
The Department of Education (Education) and its contracted loan servicers provide a range of information to borrowers about their federal Direct Loans for higher education, such as repayment plans and procedures, but some borrowers GAO interviewed reported difficulties with contacting servicers through their call centers. Borrowers noted similar concerns in Education's 2014 and 2015 customer satis...
Federal Student Loans: Key Weaknesses Limit Education's Management of Contractors
GAO-16-196T: Published: Nov 18, 2015. Publicly Released: Nov 18, 2015.
The Department of Education's Office of Federal Student Aid's (FSA) instructions and guidance to loan servicers are sometimes lacking, resulting in inconsistent and inefficient services to borrowers. While FSA has taken some steps to improve program instructions and guidance, six of the seven servicers GAO interviewed reported various issues resulting from absent, unclear and inconsistent guidance...
Federal Student Loans: Education Could Do More to Help Ensure Borrowers Are Aware of Repayment and Forgiveness Options
GAO-15-663: Published: Aug 25, 2015. Publicly Released: Sep 17, 2015.
Many eligible borrowers do not participate in the Department of Education's (Education) Income-Based Repayment and Pay As You Earn repayment plans for Direct Loans, and Education has not provided information about the plans to all borrowers in repayment. These plans provide eligible borrowers with lower payments based on income and set timelines for forgiveness of any remaining loan balances. Whil...
Federal Student Loans: Impact of Loan Limit Increases on College Prices Is Difficult to Discern
GAO-14-7: Published: Feb 18, 2014. Publicly Released: Feb 18, 2014.
For more than a decade, college prices have been rising consistently and have continued to rise at a gradual pace after the Stafford loan limit increases were enacted in 2008 and 2009. However, it is difficult to determine if a direct relationship exists between increases in college prices and the Stafford loan limit increases because of the confluence of many other factors that occurred around th...
Higher Education: Experts Cited a Range of Requirements as Burdensome
GAO-13-371: Published: Apr 10, 2013. Publicly Released: May 10, 2013.
Experts GAO interviewed offered varied opinions on which student financial aid requirements under Title IV of the Higher Education Act of 1965, as amended, are the most burdensome. While no single requirement was cited as burdensome by a majority of the 18 experts, 11 cited various consumer disclosure requirements--such as those pertaining to campus safety--primarily due to the time and difficulty...
Higher Education: Improved Tax Information Could Help Families Pay for College
GAO-12-560: Published: May 18, 2012. Publicly Released: Jun 18, 2012.
Multiple Title IV programs and tax expenditures provided substantial aid to populations across income levels. In 2009, 12.8 million students received Title IV aid, and approximately 18-million tax filers claimed a higher education tax benefit for current expenses. Recent increases in both programs from 2008 to 2009 may be because of enrollment increases and legislative actions, among other factors...
Postsecondary Education: Student Outcomes Vary at For-Profit, Nonprofit, and Public Schools
GAO-12-143: Published: Dec 7, 2011. Publicly Released: Dec 7, 2011.
Institutions of higher education, including for-profit, nonprofit, and public schools, receive billions of dollars each year from the Department of Education (Education) to help students pay for school. In the 2009-2010 school year, Education provided $132 billion in grants and loans to students under federal student aid programs, up from $49 billion in the 2001-2002 school year. However, relative...
For-Profit Schools: Experiences of Undercover Students Enrolled in Online Classes at Selected Colleges
GAO-12-150: Published: Oct 31, 2011. Publicly Released: Nov 22, 2011.
Once comprised of local, sole-proprietor ownership, the nation's for-profit institutions now range from small, privately owned schools to publicly traded corporations. Enrollment in such colleges has grown far faster than in traditional higher-education institutions. Moreover, during the 2009-2010 school year, for-profit colleges received almost $32 billion in grants and loans provided to students...
Federal Student Loans: Patterns in Tuition, Enrollment, and Federal Stafford Loan Borrowing Up to the 2007-08 Loan Limit Increase
GAO-11-470R: Published: May 25, 2011. Publicly Released: May 25, 2011.
Although a postsecondary education is vitally important to many individuals and the nation's ability to compete globally, high college tuition rates are prompting concerns that it may remain an elusive goal for some. To help students finance their education, Congress recently raised the ceiling on the amount individual students can borrow under the federal Stafford Loan program (referred to in leg...
Student Loans: Federal Web-based Tool on Private Loans Would Pose Implementation Challenges and May Be Unnecessary
GAO-10-990: Published: Sep 29, 2010. Publicly Released: Sep 29, 2010.
Student loans play a key role in ensuring postsecondary access for millions of students each year. In fiscal year 2009, students and their families borrowed $90 billion in federal student loans to help pay the cost of postsecondary education. Traditionally, these loans have been available through two programs: the William D. Ford Federal Direct Loan Program (Direct Loan), in which the federal gove...