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ERIC Number: ED358764
Record Type: Non-Journal
Publication Date: 1993-Apr
Pages: 26
Abstractor: N/A
Reference Count: N/A
Student Loan Program Simplification: Interim Recommendations. A Report to the Congress of the United States and the Secretary of Education.
Advisory Committee on Student Financial Assistance, Washington, DC.
This advisory report investigates the possible simplification of the Federal Family Education Loan Program (FFELP) and considers the issue of federal direct lending. The evaluation indicates that complexity in the FFELP is due to multiple, overlapping loan programs with conflicting terms and conditions. Nonstandard policies, procedures, forms, and processes also plague the program, in addition to burdensome legislative and regulatory requirements. Thousands of parties in the process not linked by an adequate data or network infrastructure contribute to the complexity. The Advisory Committee charged with the FFELP evaluation recommends a radical restructuring of the program through consolidation of participants, creation of a single loan program with standard terms and conditions, and integration of the loan process into the existing Title IV delivery system. Further, this program must not require any interface with the prior FFELP beyond capture of default information and must remain a centralized, federal program with a minimal number of participants outside the educational institutions. Appendices include a breakdown of the recommendations for program simplification, and a list of the Committee members. (GLR)
Publication Type: Reports - General
Education Level: N/A
Audience: Policymakers; Administrators; Practitioners
Language: English
Sponsor: N/A
Authoring Institution: Advisory Committee on Student Financial Assistance, Washington, DC.
Identifiers - Laws, Policies, & Programs: Family Education Loan Program