The federal government has traditionally relied on a variety of private accrediting bodies and state chartering and licensing authorities for determining eligibility and exercising direct supervision and consumer protection in education. As Federal financial assistance directly to students has expanded (3 million students received $6.4 million in…

Recent developments on the topic of Guaranteed Student Loan defaults are summarized, in light of a recent shift in the focus of default reduction efforts from loan originators to the schools themselves. Background information on recent default reports is provided, the recommendations of the Secretary of Education are discussed, and the legislative…

The Guaranteed Student Loan (GSL) program's current operations, legislative history, and growth are reviewed, along with research needs. GSLs are made by lenders to college students, and the federal government guarantees them and provides incentive payments to lenders and subsidy payments on behalf of students until loan repayment begins. Today,…

This report on abuses in federal student aid programs, particularly the Guaranteed Student Loan Program (GSLP), is based on information gathered by the Senate Permanent Subcommittee on Investigations in the course of its overall investigation and the testimony and exhibits received during the course of hearings held between February and October,…

Proposals for the amendment or elimination of the in-school interest subsidy for the Guaranteed Student Loan (GSL) program were evaluated. The proposals were assessed in terms of their effects on the administrative and operational aspects of the GSL program, the availability of loan capital, and their impact on borrowers' ability to meet their…

A transcript is provided of the subcommittee hearing on the effect of Congressional Methodology (the system established to determine eligibility for federal student aid) on federal student financial aid eligibility. The statements of the following persons are provided: Francine Andrea, New Jersey Association of Student Financial Aid…

The committee examined the special allowance made to lenders in the Guaranteed Student Loan Program to assure that it continues to be an effective incentive. The allowance was examined in its relation to: (1) administrative costs incurred by lenders, including those attributable to federal regulations; and (2) appropriate money-market indices. A…

This report discusses recent changes in federal aid to postsecondary students enacted by Congress during 1992-93, focusing on the 1992 Amendments to the Higher Education Act and the 1993 Federal Direct Student Loan (DL) Program. The report reviews recent issues surrounding federal aid to postsecondary students, such as program accountability and…

Four aspects of the Guaranteed Student Loan (GSL) Program are compared with credit policies on other loans made by consumer installment lenders. The four aspects are: (1) the planning, screening, monitoring, collecting, and write-off policies on GSLs versus uninsured loans; (2) the importance of the Student Loan Marketing Association in providing…

This General Accounting Office (GAO) testimony before the Subcommittee on Postsecondary Education, Committee on Education and Labor, House of Representatives, concerns the findings of the task force that addressed the increasing costs of student loan defaults. The task force report is considered, generally, to provide additional incentives and…

This report, based on the 1987 National Postsecondary Student Aid Study, provides information on how different sources and types of student financial aid were combined to produce student aid awards or packages for 34,544 undergraduate students. First, aid awards are examined by the source of aid; second, by the type of aid; and third, by a…

The guide is intended for use by staff of governmental agencies that exercise regulatory authority over postsecondary educational institutions. It describes a simplified system for collecting, analyzing, and sharing information on the policies and practices of the regulated institutions. The policies and practices in question are those that relate…

The special allowance component of the Guaranteed Student Loan (GSL) program was evaluated through research and hearings. Attention was directed to: the experiences of students and eligible lenders; the administrative costs of various types of eligible lenders; financial indicators that accurately reflect the costs of capital; and administrative…

Student aid records from a national sample of aid recipients attending independent colleges and universities with enrollments of more than 500 students were evaluated. It was found that recent reductions in federal student assistance and restrictions placed on program eligibility reduced substantially the number and proportion of low-income…

This report describes, in text and 20 tables of data, the status of student financial assistance programs in New York State in 1989-90. The report contains a complete accounting of all aid available to students enrolled in public, private nonprofit, and private for-profit postsecondary institutions in the State. The report also contains analyses…