Student Financial Aid. High-Risk Series [microform]
- Bib ID:
- 5580301
- Format:
- Book and Microform
- Author:
- Comptroller General of the U.S., Washington, DC
- Online Version:
- https://eric.ed.gov/?id=ED381041
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- Description:
-
- [Washington, D.C.] : Distributed by ERIC Clearinghouse, 1995
- 48 p.
- Summary:
-
This publication discusses areas of concern in the Department of Education's management and oversight of postsecondary student financial aid programs, especially the Federal Family Education Loan Program (FFELP), the Federal Direct Student Loan Program (FDSLP), and the Federal Pell Grant Programs. The General Accounting Office determined that, in 1992, the federal government paid out over $2.6 billion on defaulted student loans. To address underlying problems with federally guaranteed student loans, the Congress and the Department of Education required schools to develop plans to reduce defaults, implemented stronger enforcement tools, simplified borrower deferments, added repayment options, required lenders and guaranty agencies to share more of the risks and financial costs, provided for the 5-year phase-in of the FDSLP, reorganized the Office of Postsecondary Education, and began development of the National Student Loan Data System. However, assessment of the current situation suggests that these measures may not be adequate. Many of the Department's weak management practices caused by a complicated process, flawed structure, and mismanagement continue. The Department has not developed a strategic business or transition plan for phase-in of FDSLP, although implementation has begun. In addition, a significant growth in student loan demand from 1993 to 1994 may hamper implementation of the FDSLP. (Contains 12 references.) (JB)
- Notes:
-
- Availability: U.S. General Accounting Office, P.O. Box 6015, Gaithersburg, MD 20884-6015 (first copy is free, additional copies $2; 100 or more copies to be mailed to a single address discounted 25%; orders should be accompanied by check or money order made out to the Superintendent of Documents).
- ERIC Note: For a related document, see HE 028 163.
- 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:
- Comptroller General of the U.S., Washington, DC
- Available From:
- ERIC
- Copyright:
-
In Copyright
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- Reason for copyright status:
- Until 2065 [Created/Published Date + 70 Years]
Copyright status was determined using the following information:
- Material type:
- Literary Dramatic Musical
- Published status:
- Published
- Publication date:
- 1995
Copyright status may not be correct if data in the record is incomplete or inaccurate. Other access conditions may also apply. For more information please see: Copyright in library collections.
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