ERIC Number: ED332601
Record Type: Non-Journal
Publication Date: 1991-Apr
Reference Count: N/A
Student Loans: Characteristics of Defaulted Borrowers in the Stafford Student Loan Program. Briefing Report to the Chairman, Subcommittee on Education, Arts, and the Humanities, Committee on Labor and Human Resources, U.S. Senate.
General Accounting Office, Washington, DC. Div. of Human Resources.
This document reports on a study which sought to identify the characteristics of students who default on loans obtained under the Stafford Student Loan Program. Twelve studies that were the products of original research and which addressed the characteristics of student loan defaulters were identified through literature searches and contacts with state education agencies. Each study reviewed was based on analyses performed in different states, with different sampling methods and data analysis techniques, with different groups of students and types of educational institutions and over different time periods. The studies revealed that students likely to default on their loans were those who: (1) attended vocational/trade schools; (2) had low incomes; (3) had little financial support; (4) had minority backgrounds; (5) lacked high school diplomas; (6) failed to complete their educational programs; (7) attended schools for one year or less; (8) borrowed small amounts; and (9) were unemployed when defaulting. Appendices include a list of the studies reviewed and a summary of defaulter characteristics identified in the studies. (LPT)
Descriptors: Adult Vocational Education, Financial Problems, Financial Support, Higher Education, Loan Default, Loan Repayment, Minority Groups, Postsecondary Education, Student Characteristics, Student Loan Programs
U.S. General Accounting Office, P.O. Box 6015, Gaithersburg, MD 20877 (first five copies free; additional copies $2.00 each; 100 or more, 25% discount).
Publication Type: Reports - Research
Education Level: N/A
Authoring Institution: General Accounting Office, Washington, DC. Div. of Human Resources.
Identifiers - Laws, Policies, & Programs: Stafford Student Loan Program