Student Loans: Potential Effects of Raising Statutory Audit Threshold

Pursuant to a congressional request, GAO provided information on the potential effects of raising the statutory audit threshold for the Federal Family Education Loan Program (FFELP) to lenders with loan portfolios that exceed $10 million, focusing on: (1) the number of lenders with loan portfolios between $5 million and $10 million, and the total loan volume in these lenders' portfolios; and (2) the number, types, monetary impact, and disposition of audit findings reported to the Department of Education by lenders with loan portfolios in that range.