Direct Student Loans: Legality of Regulations Authorizing Origination Fee Reduction
B-283717
Published: Sep 29, 1999. Publicly Released: Sep 29, 1999.
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Highlights
GAO commented on the legality of recent regulations authorizing the reduction of the origination fee charged in the William D. Ford Federal Direct Student Loan Program. In GAO's view, the regulations conflict with a statutory requirement that the Department of Education charge a 4 percent origination fee for loans made under the Direct Loan Program.
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Administrative lawAgency proceedingsNoncomplianceStudent loansHigher educationDirect student loan programEducation loan programsStudentsNatural resourcesFinancial assistance