This report, prepared by the Comptroller General of the U.S., is an examination of the fiscal year 1974 financial statements of the Student Loan Insurance Fund (OE), and discusses many problems regarding the fund. One of the most serious is that the records maintained by the Office of Education are not adequate to support the financial statements. The report also examines the following issues: lack of a time limit within which lenders must file claims for defaulted loans, questionable estimates of losses, the inclusion of many uncollectible loans in the asset accounts, and differences between the official financial statements of the fund and the statements included in the appendix to the Federal budget. The recent establishment of the Student Loan Marketing Association is also discussed. Recommendations addressing these problems are included. (Author)