ERIC Number: ED203799
Record Type: Non-Journal
Publication Date: 1981
Reference Count: N/A
Guaranteed Student Loan Program 1981. State Agency Survey.
New York State Higher Education Services Corp., Albany.
Responses to a questionnaire circulated in March 1981 are summarized. Data were gathered from all states regarding the federal Guaranteed Student Loan Program (GSL) and the state guarantee agencies on: guarantee agency organizational types; dates of GSL agreements with the Department of Education; states that guaranteed loans before GSL; distribution of lending institutions; services provided by guarantee agencies; lender promotion activities; agency reserve funds, sources of agency funds; student insurance premium; guarantee agencies; direct lending agencies, and secondary market agencies listed by name; direct lending activities; secondary market activities; revenue bond issuance; lending issues and research; recent figures on loans guaranteed and outstanding, defaults purchased and collections (expressed in numbers, dollars, and percentage of the U.S. total); and addresses of each guarantee agency. These highlights are extracted: (1) the GSL program has expanded rapidly, with over half the states' guarantee agencies coming into existence since 1976, although a number of states had agencies even before the federal program began; (2) there are nearly as many state arrangements (financial and organizational) as there are states, implying great program diversity; and (3) several of the new agencies have had dramatic growth in the volume of loans guaranteed, presaging a more widely-established, broad-based student loan program with a truly national consistency. It is noted that factors not surveyed here, including state banking laws and agency regulations, historical development, state postsecondary financing patterns, industrial activity, and competing credit demands, also contribute to diversity in the GSL program and the national student loan situation. (MSE)
Descriptors: Administrative Organization, Banking, Federal Aid, Federal Programs, Federal State Relationship, Financial Services, Higher Education, Loan Repayment, Money Management, National Surveys, State Agencies, Statewide Planning, Student Financial Aid, Student Loan Programs
Research Division, New York State Higher Education Services Corporation, 99 Washington Avenue, Albany, NY 12255.
Publication Type: Numerical/Quantitative Data; Reports - Descriptive
Education Level: N/A
Sponsor: National Council of Higher Education Loan Programs.
Authoring Institution: New York State Higher Education Services Corp., Albany.
Identifiers - Laws, Policies, & Programs: Guaranteed Student Loan Program