ERIC Number: ED314000
Record Type: Non-Journal
Publication Date: 1989-Oct
Reference Count: N/A
Supplemental Student Loans. Who Borrows and Who Defaults. United States General Accounting Office Fact Sheet for Congressional Requesters.
General Accounting Office, Washington, DC. Div. of Human Resources.
The report presents information collected by the U.S. General Accounting Office on the Supplemental Loans for Students (SLS) program, which provides market rate loans to postsecondary students in addition to, or in lieu of, other financial aid such as Stafford Loans and Pell grants. Some of the data are as follows: over $3.2 billion in SLS loans were guaranteed by nine guaranty agencies during the last 3 years; the nine agencies reported that students have defaulted on $310.6 million in SLS loans during the 3-year period; and there were 419,434 student borrowers who received only SLS loans during the 3 years compared to 673,458 who received both SLS and Stafford loans. The six appendices (the bulk of the document) provide information on: 11 largest guarantors of SLS loans in fiscal year 1988; SLS loan volume activity; borrowers who received only SLS loans; borrowers who received SLS and Stafford loans; and major contributors to the report. Four tables, nine figures, and a listing of related GAO products are included. (SM)
Descriptors: Access to Education, College Students, Donors, Educational Finance, Financial Aid Applicants, Financial Support, Higher Education, Loan Repayment, Student Financial Aid, Student Loan Programs, Student Responsibility
U.S. General Accounting Office, P.O. Box 6015, Gaithersburg, MD 20877 (first 5 copies free, additional copies $2.00 each).
Publication Type: Numerical/Quantitative Data; Reports - Descriptive
Education Level: N/A
Authoring Institution: General Accounting Office, Washington, DC. Div. of Human Resources.