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ERIC Number: ED561998
Record Type: Non-Journal
Publication Date: 2014-Feb
Pages: 58
Abstractor: ERIC
Reference Count: N/A
ISBN: N/A
ISSN: N/A
Federal Student Loans: Impact of Loan Limit Increases on College Prices Is Difficult to Discern. Report to Congressional Committees. GAO-14-7
Nowicki, Jacqueline M.
US Government Accountability Office
For more than a decade, college prices have been rising consistently and have continued to rise at a gradual pace after the Stafford loan limit increases were enacted in 2008 and 2009. However, it is difficult to determine if a direct relationship exists between increases in college prices and the Stafford loan limit increases because of the confluence of many other factors that occurred around the time the loan limit increases took effect. For this final report, U.S. Government Accountability Office (GAO) examined: (1) the extent to which, if any, the Stafford loan limit increases affected tuition, fees and room and board prices at institutions of higher education; and (2) the trends in private student loan borrowing since the loan limits took effect. GAO developed a statistical model to explore whether the loan limit increases in academic years 2007-08 and 2008-09 had an impact on college prices in subsequent years. GAO analyzed data from the Department of Education (Education) and the Consumer Financial Protection Bureau (CFPB), and interviewed officials from eight higher education institutions that represented a mix of college sectors in different regions of the country, three of the largest private student lenders, federal officials, and subject matter specialists. Appended are: (1) Objectives, Scope, and Methodology; (2) Analysis of the Relationship between Student Loan Limit Increases and Tuition; (3) Additional Data on College Prices and Student Enrollment; (4) Sample Self-Certification Form for Private Loan Applicant; and (5) GAO Contact and Staff Acknowledgements. [In addition to GAO contact, Jacqueline M. Nowicki, Sherri Doughty, Assistant Director, Kristy Kennedy, Sandra Baxter, Patrick Dudley, John Karikari, and John W. Mingus made significant contributions to this report. Also contributing to this report were Jessica Botsford, Melissa H. Emrey Arras, Lorraine Ettaro, Mimi Nguyen, and Kathleen L. Van Gelder.]
US Government Accountability Office. 441 G Street NW, Washington, DC 20548. Tel: 202-512-6000; Web site: http://www.gao.gov
Publication Type: Reports - Evaluative
Education Level: Higher Education; Postsecondary Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: US Government Accountability Office
Identifiers - Laws, Policies, & Programs: Pell Grant Program; Stafford Student Loan Program