ERIC Number: ED311805
Record Type: Non-Journal
Publication Date: 1989-Jul
Reference Count: N/A
Guaranteed Student Loans. Comparisons of Single State and Multistate Guaranty Agencies. Report to Congressional Committees.
General Accounting Office, Washington, DC. Div. of Human Resources.
A comparison was made of the practices of so-called multistate guaranty agencies with those of single state guaranty agencies, both operating under the provisions of the Stafford Student Loan Program (formerly the Guaranteed Student Loan Program). It expands on earlier results and provides data on trends in the growth of guaranteed loans and compares the characteristics of multistate and single state guaranty agencies. The focus is on: agency trends in insuring loans and paying defaults; guaranty agency activities; how agency default rates reflect the borrowers insured and the schools they attend; and default rates adjusted for borrower profiles. Major findings include the following: the annual loan volumes and defaults of the Higher Education Assistance Foundation (HEAF) and United Student Aid Funds (USAF) multistate guaranty agency programs have grown at faster rates than have Stafford student loans as a whole; differences in default rates among agencies appear to be strongly related to such borrower characteristics as family income and whether students are financially independent; and the HEAF multistate program's default rate has been much higher than the national rate and the USAF rate has been slightly lower. Three appendices are: scope and methodology of the study; student loans insured and default claims paid (fiscal year 1987); and major contributors to the report. Tables and figures are included. (SM)
Descriptors: Comparative Analysis, Educational Finance, Financial Support, Higher Education, Loan Repayment, Need Analysis (Student Financial Aid), State Aid, Student Characteristics, Student Financial Aid, Student Loan Programs
U.S. General Accounting Office, Post Office Box 6015, Gaithersburg, MD 20877 (first five copies free).
Publication Type: Numerical/Quantitative Data; Reports - Descriptive
Education Level: N/A
Authoring Institution: General Accounting Office, Washington, DC. Div. of Human Resources.
Identifiers - Laws, Policies, & Programs: Stafford Student Loan Program