ERIC Number: ED183063
Record Type: Non-Journal
Publication Date: 1979-Nov-27
Reference Count: N/A
Better Cash Management Can Reduce the Cost of the National Direct Student Loan Program. Report to the Congress by the Comptroller General of the United States.
Comptroller General of the U.S., Washington, DC.
The Office of Education has allowed schools participating in the National Direct Student Loan Program to hold more than an annual average of $63 million in federal funds in excess of their 30-day needs. The General Accounting Office estimates that if the Treasury had this money it could save the government interest costs of as much as $4 million, and suggests that the lack of sound cash management practices is the primary cause of the increase in excess funds. It is recommended that new legislation be passed for better cash management by the government and for the return of excess funds. Interim measures for better cash management by the schools themselves are also suggested, including deposit of excess funds in interest-bearing accounts pending their return to the Treasury. (ME)
Descriptors: Budgeting, Efficiency, Federal Aid, Federal Programs, Government Role, Government School Relationship, Higher Education, Institutional Administration, Interest (Finance), Monetary Systems, Money Management, Program Evaluation, Student Financial Aid, Student Loan Programs
United States General Accounting Office, Distribution Section, Room 1518, 441 G St. NW, Washington, DC 20548 ($1.00)
Publication Type: Reports - Evaluative
Education Level: N/A
Authoring Institution: Comptroller General of the U.S., Washington, DC.
Identifiers - Laws, Policies, & Programs: National Direct Student Loan Program