ERIC Number: ED333811
Record Type: Non-Journal
Publication Date: 1990-Jul-27
Reference Count: N/A
Implications of the Failure of the Higher Education Assistance Foundation. Hearing before the Committee on Banking, Housing, and Urban Affairs. United States Senate, One Hundred First Congress, Second Session.
Congress of the U.S., Washington, DC. Senate Committee on Banking, Housing and Urban Affairs.
This hearing before the Committee on Banking, Housing, and Urban Affairs, addresses the implications of the anticipated failure of the Higher Education Assistance Foundation (HEAF), the largest guarantor of student loans. HEAF's difficulties have affected Sallie Mae (Student Loan Marketing Association), and have raised general questions about the design of Federal Government guarantee programs which guarantee risks stemming from the behavior of a financial institution over which it has little or no control. Included in this document are remarks and prepared statements of Senators Riegle, Bryan, Kassebaum, Dixon, Garn, Pressler and Pell. Witnesses included T. Sanders, E. Stringer, and L. Oxendine of the U.S. Department of Education; F. Fraizier, J. J. Eglin, and C. C. Chrissman of the Human Resources Division of the U.S. General Accounting Office; and L. A. Hough, Student Loan Marketing Association. Additional material supplied for the record includes a statement of the Consumer Bankers Association, student financial assistant program reviews, a report on audits of financial statements, an index of financial statements, and a HEAF letter dated August 3, 1990, to Roberta B. Dunn, U.S. Department of Education. (JB)
Descriptors: Banking, Educational Finance, Federal Programs, Hearings, Higher Education, Loan Default, Loan Repayment, Postsecondary Education, Proprietary Schools, Student Financial Aid, Student Loan Programs
Superintendent of Documents, Congressional Sales Office, U.S. Government Printing Office, Washington, DC 20402.
Publication Type: Legal/Legislative/Regulatory Materials
Education Level: N/A
Authoring Institution: Congress of the U.S., Washington, DC. Senate Committee on Banking, Housing and Urban Affairs.
Identifiers - Laws, Policies, & Programs: Stafford Student Loan Program