[Response to Request for Views on Application of P.L. 99-177 to Teacher Loan Cancellations]
B-221498.20, Sep 18, 1986
Pursuant to a congressional request, GAO commented on the application of the Balanced Budget and Emergency Deficit Control Act of 1985 to: (1) teacher loan cancellations under the National Direct Student Loan program; and (2) subsidized interest payments for college construction projects. GAO believes that: (1) reductions may be made under the teacher loan cancellation programs without affecting balances obligated prior to the effective date of the President's sequestration order; and (2) appropriations for the interest subsidy program are obligated balances exempt from reduction.