Direct Student Loans:

Selected Characteristics of Participating Schools

T-HEHS-95-123: Published: Mar 30, 1995. Publicly Released: Mar 30, 1995.

Additional Materials:

Contact:

Office of Public Affairs
(202) 512-4800
youngc1@gao.gov

GAO discussed the Federal Direct Student Loan Program. GAO noted that: (1) 102 postsecondary schools are participating in the first year of the program; (2) 59 of the 102 schools are making the direct loans themselves while the other schools use alternative originators to make direct loans to their students; (3) the schools are very satisfied with the program; (4) the program enables students to receive their loans faster, reduces program complexity and confusion, and allows schools to have greater control over the loan process; (5) there has been a problem with some schools not timely reporting their loan disbursements to the loan servicer, but this is being resolved; (6) the participating schools represent an aggregate of 5 percent of the fiscal year (FY) 1991 student loan volume; (7) as of March 21, 1995, program participants had not reached their year-two 40-percent loan volume target because some schools decided not to use direct loans exclusively and some large participants withdrew due to a lack of resources and uncertainty about the program's future; and (8) although the Department of Education has proposed accelerating the implementation of direct loans to all schools by the 1997-1998 academic year, several pending bills would cap the direct loans at 40 percent of new loan volume.

Jan 27, 2021

Jan 19, 2021

Jan 11, 2021

Dec 10, 2020

Nov 19, 2020

Oct 15, 2020

Oct 14, 2020

Sep 29, 2020

Aug 27, 2020

Jul 24, 2020

Looking for more? Browse all our products here