Download or read book Oversight on Student Loan Collections written by United States. Congress. House. Committee on Education and Labor. Subcommittee on Postsecondary Education and published by . This book was released on 1982 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Federal Student Loans Better Oversight Could Improve Defaulted Loan Rehabilitation written by U.s. Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2017-07-27 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: " As of fiscal year 2013 about $94 billion-over 11 percent of federal student loan volume in repayment-was in default, which generally occurs when a borrower fails to make a payment for more than 270 days. Loan rehabilitation was established as an option to help Education collect defaulted student loans, and borrowers address the adverse consequences of default, such as repairing damaged credit. GAO was asked to review Education's loan rehabilitation process. This report examines how: (1) Education assists borrowers in rehabilitating defaulted student loans; (2) the upgrade of its defaulted loan information system affected loan rehabilitation; and (3) Education oversees private collection agencies in implementing loan rehabilitation. GAO reviewed Education's policies, procedures and guidance; contracts and monitoring records for the defaulted loan information system contractor and 22 collection agencies; collections and rehabilitation data; and relevant federal laws and regulations. GAO interviewed Education officials, representatives of borrower advocacy groups, and visited 6 selected collection agencies, based on their loan volume and geographic location. "

Download or read book Oversight on Student Loan Collections written by United States. Congress. House. Committee on Education and Labor. Subcommittee on Postsecondary Education and published by . This book was released on 1983 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Oversight on Student Loan Collections written by United States. Congress. House. Committee on Education and Labor. Subcommittee on Postsecondary Education and published by . This book was released on 1983 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Federal student loans better oversight could improve defaulted loan rehabilitation written by and published by . This book was released on 2014 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Federal Student Loans written by Melissa Emrey-Arras and published by . This book was released on 2014-04-25 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: As of fiscal year 2013 about $94 billion -- over 11 percent of federal student loan volume in repayment -- was in default, which generally occurs when a borrower fails to make a payment for more than 270 days. Loan rehabilitation was established as an option to help the Department of Education (Education) collect defaulted student loans, and borrowers address the adverse consequences of default, such as repairing damaged credit. This report reviewed Education's loan rehabilitation process. It examines how: (1) Education assists borrowers in rehabilitating defaulted student loans; (2) the upgrade of its defaulted loan information system affected loan rehabilitation; and (3) Education oversees private collection agencies in implementing loan rehabilitation. Tables and figures. This is a print on demand report.

Download or read book Oversight of the Direct Student Loan Program written by United States. Congress. Senate. Committee on Labor and Human Resources. Subcommittee on Education, Arts, and Humanities and published by . This book was released on 1995 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Federal Student Loans written by Melissa Emrey-Arras and published by . This book was released on 2014 with total page 11 pages. Available in PDF, EPUB and Kindle. Book excerpt: As of September 2013 about $94 billion--over 11 percent of federal student loan volume in repayment--was in default. Loan rehabilitation allows borrowers who make nine on-time monthly payments within 10 months to have the default removed from their credit reports. Department of Education (Education) contracts with collection agencies to assist borrowers with rehabilitation and other options for repaying defaulted student loans. The federal government has an interest in ensuring that the loan rehabilitation process works well given the potential savings from returning defaulted loans to repayment. When Education upgraded its defaulted loan information system in October 2011, there were reports that some loans remained in default after borrowers had made enough payments to rehabilitate the loans, raising questions about Education's ability to manage the loan rehabilitation program. GAO asked Education, Workforce, and Income Security to examine Education's rehabilitation of defaulted student loans. This document reports the testimony of Melissa Emrey-Arras, Director, Education, Workforce, and Income Security. Her remarks address the following two areas: (1) how the upgrade of Education's defaulted loan information system affected loan rehabilitation; and (2) how Education oversees collection agencies in implementing loan rehabilitation. The findings in this report highlight serious weaknesses in Education's management and oversight of the loan rehabilitation process. The substantial delays that many borrowers experienced getting their loans out of default are largely attributable to Education not providing oversight appropriate to the risks associated with the system upgrade. While Education took steps to process the backlog of loans eligible for rehabilitation, it does not have performance data to provide assurance that borrowers are no longer experiencing delays. In addition, Education's oversight of collection agencies provides little assurance that borrowers are provided accurate information about loan rehabilitation. Education has taken some steps to strengthen its oversight in response to Education, Workforce, and Income Security recommendations however, given the preliminary nature of these efforts, it will be important to track how Education builds upon and sustains these actions over time to ensure it is providing appropriate levels of oversight. [Individuals making key contributions to this statement include Debra Prescott, Assistant Director; Kurt Burgeson, Maria Gaona, Amy Moran Lowe, and Jason Palmer.].

Download or read book Collection Efforts Not Keeping Pace with Growing Number of Defaulted Student Loans Office of Education Department of Health Education and Welfare written by United States. General Accounting Office and published by . This book was released on 1977 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Oversight of Federal Debt Collection written by United States. Congress. Senate. Committee on Governmental Affairs. Subcommittee on Energy, Nuclear Proliferation, and Government Processes and published by . This book was released on 1983 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Oversight on national direct student loan program regulations written by United States. Congress. House. Committee on Education and Labor. Subcommittee on Postsecondary Education and published by . This book was released on 1983 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Student Loan Defaults written by United States. Congress. House. Committee on Education and Labor. Subcommittee on Postsecondary Education and published by . This book was released on 1977 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Federal Family Education Loan Program written by George A. Scott and published by DIANE Publishing. This book was released on 2008 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: Concerns have been raised about the Dept. of Education¿s role in overseeing the lenders & schools that participate in the largest of the Federal government¿s student loan programs, the Federal Family Education Loan Program (FFELP). The author was asked to analyze the Dept. of Education¿s use of its oversight, guidance, & enforcement authorities under FFELP. To do this, the author reviewed departmental documents & Federal laws, regulations, & cases & interviewed officials from the Dept. of Education & the student loan industry. Includes recommendations. Charts & tables.

Download or read book Loan Collections written by United States. Congress. House. Committee on Education and Labor. Subcommittee on Postsecondary Education and published by . This book was released on 1984 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Student Loan Collection Procedures written by Warren C. McAlvey and published by National Association of College & University Business Office. This book was released on 1985 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: Guidelines for loan collection staff who award/service college student loans are presented. Attention is directed to sound collection procedures, three specific loan programs, suing a defaulted borrower, the Family Educational Rights and Privacy Act and the use of credit bureaus, and student loan borrower bankruptcy. Loan collection procedures for all types of loans, including institutional loans, are covered with attention to making the loan, servicing accounts before repayment, the in-school period, the exit interview, the billing process, interrupting the billing process, and the collection process. Procedures for the National Direct Student Loan (NDSL) program (a continuation of the National Defense Student Loan Program), the Health Professions Student Loan program, and the Nursing Student Loan program are discussed in detail. Additional topics include: types of legal action with defaulted borrowers, steps in suing a borrower, settling a suit out of court, disclosure of information, functions of a credit bureau, and chapter 7 and chapter 13 bankruptcies. Appendices include 83 exhibits consisting of sample letters, forms, and other documents that illustrate the text. Included are government forms, which may change over time, and a glossary. (SW)

Download or read book Oversight on National Direct Student Loan Program Regulations written by United States. Congress. House. Committee on Education and Labor. Subcommittee on Postsecondary Education and published by . This book was released on 1983 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Accountability for the Department of Education s Oversight of Student Loans and the Reading First Program written by United States. Congress. House. Committee on Education and Labor and published by . This book was released on 2008 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: