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ERIC Number: ED388151
Record Type: Non-Journal
Publication Date: 1995-May-23
Pages: 461
Abstractor: N/A
Reference Count: N/A
ISBN: ISBN-0-16-047489-2
Hearing on Federal Student Loan Programs. Hearing before the Subcommittee on Oversight and Investigations of the Committee on Economic and Educational Opportunities. House of Representatives, 104th Congress, First Session.
Congress of the U.S., Washington, DC. House.
The Subcommittee met to hear testimony on the college student loan process, particularly whether, at a time of devolution of power to state and local levels, it is contradictory to continue with the relatively new Federal Direct Student Loan Program. Chairman Peter Hoekstra outlined how vital higher education has become for access to quality employment and the possible problems with direct federal lending. Representative Sawyer responded with positive information on the Ford program and a recommendation for no major adjustments. Representative Petri critiqued the program and suggested reform measures. Representative Istook testified that the direct lending program is a mistake and that this function should be privatized. Senator Paul Simon testified in support of direct lending citing feed-back from institutions that have participated. Representative Bart Gordon urged further testing of direct lending before allowing full implementation. A representative of Maine Education Services, a secondary market lender, testified on the success of that program. Financial aid directors from Hope College (Michigan), California State University, Northridge; and Roger Williams College (Rhode Island) also testified on their experience with the direct lending program. Extensive additional materials and prepared statements are included. (JB)
U.S. Government Printing Office, Superintendent of Documents, Mail Stop: SSOP, Washington, DC 20402-9328.
Publication Type: Legal/Legislative/Regulatory Materials
Education Level: N/A
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: Congress of the U.S., Washington, DC. House.