Staff Report on the Guaranteed Student Loan Program, Belmont Task Force Recommendations. Prepared for the Subcommittee on Postsecondary Education of the Committee on Education and Labor [microform]
- Bib ID:
- 5493369
- Format:
- Book and Microform
- Author:
- Congress of the U.S., Washington, DC. House Committee on Education and Labor
- Online Version:
- https://eric.ed.gov/?id=ED296666
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- Description:
-
- [Washington, D.C.] : Distributed by ERIC Clearinghouse, 1988
- 16 p.
- Summary:
-
Recommendations of the Belmont Task Force concerning the problem of student loan defaults are offered to the U.S. House of Representatives. The task force concludes that the purpose of the Guaranteed Student Loan (GSL) program has changed significantly in the last decade. While originally established as a loan of convenience for middle-income students, the GSL program has become the primary federal program for access to postsecondary education for low-income students. It was found that defaulters tend to be first-year students, from low income and minority backgrounds, with a small loan balance (90% less than $5,000) who did not complete much more than the first year, have borrowed only once, receive no or little assistance from parents in repaying, are likely to be unemployed when the loans come due, and never make a first payment. Increasing Pell grants and funding of the Student Support Services program to help retain high-risk students are recommended. The task force recommends that Congress adopt a consistent set of definitions that describe how defaults must be calculated so they can be uniformly used by all program participants. GSL program management initiatives are proposed for lender, borrowers, the Department of Education, guaranty agencies, and institutions. (SW)
- Notes:
-
- Availability: Superintendent of Documents, Congressional Sales Office, U.S. Government Printing Office, Washington, DC 20402.
- ERIC Note: Serial No. 100-X. Document contains small, light type.
- May also be available online. Address as at 14/8/18: https://eric.ed.gov/
- Reproduction:
- Microfiche. [Washington D.C.]: ERIC Clearinghouse microfiches : positive.
- Subject:
- Other authors/contributors:
- Congress of the U.S., Washington, DC. House Committee on Education and Labor
- Available From:
- ERIC
- Copyright:
-
In Copyright
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- Reason for copyright status:
- Until 2058 [Created/Published Date + 70 Years]
Copyright status was determined using the following information:
- Material type:
- Literary Dramatic Musical
- Published status:
- Published
- Publication date:
- 1988
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