ERIC Number: ED449702
Record Type: Non-Journal
Publication Date: 2001-Jan
Reference Count: N/A
Key Aspects of the Federal Direct Loan Program's Cost Estimates: Department of Education. Report to Congressional Requesters.
Calbom, Linda M.; Ashby, Cornelia M.
Because of concerns about the Department of Education's reliance on estimates to project costs of the William D. Ford Federal Direct Loan Program (FDLP) and a lack of historical information on which to base those estimates, Congress asked the General Accounting Office (GAO) to review how the department develops its cost estimates for the program, review and analyze actual versus estimated financial performance, and address factors or circumstances that can significantly affect the department's ability to develop realistic estimates of program costs. This report responds to that request, specifically answering nine related questions. To answer these questions, the GAO reviewed the department's audited financial statements and examined the work papers of its independent auditors for fiscal years 1995 through 1999. It interviewed knowledgeable personnel from the department's Budget Service and compared its practices to other budgeting and accounting standards. The bulk of the report addresses the nine questions and includes numerous tables and figures. An overview of findings, background information on the loan program, and glossary are also included. Appendices include information on estimating credit program costs, and the objectives, scope, and methodology of the report. (EV)
U.S. General Accounting Office, P.O. Box 37050, Washington, DC 20013 (First copy free, $2 for each additional copy). Tel: 202-512-6000, 202-512-2537 (TDD); Fax: 202-512-6061. Email: email@example.com; Web site: http://www.gao.gov.
Publication Type: Reports - Evaluative
Education Level: N/A
Authoring Institution: General Accounting Office, Washington, DC.
Identifiers - Laws, Policies, & Programs: Federal Direct Student Loan Program