Download or read book Student consolidation loans further analysis could lead to enhanced default assumptions for budgetary cost estimates report to the Chairman Committee on the Budget House of Representatives written by and published by DIANE Publishing. This book was released on with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Student Consolidation Loans written by United States. Government Accountability Office and published by . This book was released on 2004 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Student Consolidation Loans written by Cornelia M. Ashby and published by . This book was released on 2004 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study investigated: (1) differences between the Federal Family Education Loan Program (FFELP) and William D. Ford Federal Direct Loan Program (FDLP) consolidation loans and borrowers; (2) the extent to which borrowers with student loans under one program obtain consolidation loans under the other; and (3) how FFELP and FDLP borrower and loan characteristics and the movement of loans between the two programs are incorporated into the Department of Education's (Education's) budgetary cost estimates for consolidation loans. Researchers analyzed a representative sample of borrowers from Education's National Student Loan Data System who originated consolidation loans from 1995-June 2003. On average, FFELP consolidation loan borrowers had higher levels of consolidation loan debt than did FDLP consolidation loan borrowers, were more likely to have attended a four-year versus two-year or proprietary school, and were less likely to default on a student loan prior to consolidation. In both groups, those who had defaulted prior to consolidation were more likely to default on their consolidation loan than were those who did not default prior to consolidation. From 1998-2002, an increasing share of both FFELP and FDLP underlying loan volume was consolidated into FFELP, while a decreasing share was consolidated into FDLP. Defaulted loans overall were much more likely to be consolidated into FDLP. Education incorporates borrower and loan characteristics and movement of loans between programs into its budgetary cost estimates by grouping loans with similar characteristics into risk categories, forecasting loan volume for each risk category, and applying various assumptions to each risk category based on historical and other economic data. It incorporates borrower default history into its cost estimates by grouping consolidation loans with underlying defaulted loans in a risk category and applying higher default rate assumptions to loans in this category. Education has notes based on type of school attended. Comments from Education are appended.
Download or read book Student Consolidation Loans written by United States. Government Accountability Office and published by . This book was released on 2004 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Activities and Summary Report of the Committee on the Budget U S House of Representatives written by United States. Congress. House. Committee on the Budget and published by . This book was released on 2005 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Student Consolidation Loans written by United States Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2017-10-21 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: Student Consolidation Loans: Further Analysis Could Lead to Enhanced Default Assumptions for Budgetary Cost Estimates
Download or read book Gao 04 843 Student Consolidation Loans written by United States Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2018-01-29 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: GAO-04-843 Student Consolidation Loans: Further Analysis Could Lead to Enhanced Default Assumptions for Budgetary Cost Estimates
Download or read book Student Consolidation Loans written by Cornelia M. Ashby and published by . This book was released on 2005 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: Under the Federal Family Education Loan Program (FFELP) and the Federal Direct Loan Program (FDLP), the government guarantees and makes consolidation loans to help borrowers manage their student loan debt. By combining loans into one and extending repayment, monthly repayments are reduced. Unlike other student loans, consolidation loans carry a fixed interest rate. Recently, trends in interest rates and consolidation loan volume have increased overall federal costs, leading Congress to consider cost reduction proposals. Under the Federal Credit Reform Act, the government calculates, for budgetary purposes, the net cost, or "subsidy cost," of extending or guaranteeing credit over the life of loans. GAO was asked to provide information on the budgetary effects of making consolidation loans exclusively through FDLP. Providing consolidation loans exclusively through FDLP in fiscal year 2006 could yield estimated budgetary cost savings of about $3.1 billion, based on subsidy cost estimates in the President's fiscal year 2006 budget. However, actual savings would remain unknown until all loans made in fiscal year 2006 are repaid and actual interest rates over the life of the loans are known. The estimated savings could change substantially as future reestimates of subsidy costs incorporate actual results as well as reflect changes in key assumptions about the future, such as interest rates, loan performance, and loan volume. The actual impact on lenders and borrowers is difficult to predict. However, according to lenders, consolidating all loans through FDLP would reduce lender revenue and certain borrower benefits provided by FFELP lenders. Briefing slides are contained in the appendix. [This report was produced by the United States Government Accountability Office.].
Download or read book Student Loans written by United States. General Accounting Office and published by . This book was released on 1991 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Consolidation loans written by United States. Congress. House. Committee on Education and the Workforce. Subcommittee on 21st Century Competitiveness and published by . This book was released on 2004 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Fiscal Responsibility and Federal Consolidation Loans written by United States. Congress. House. Committee on Education and the Workforce and published by . This book was released on 2004 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Student Loan Programs written by General Accounting Office, Washington, DC. and published by . This book was released on 2004 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt: This statement focuses on issues related to consolidation loans and their cost implications for taxpayers and borrowers. Consolidation loans, available under the Department of Education?s (Education's) two major student loan programs?the Federal Family Education Loan Program (FFELP) and the William D. Ford Direct Loan Program (FDLP)?help borrowers manage their student loan debts. By combining multiple loans into one loan and extending the repayment period, a consolidation loan reduces monthly repayments, which may lower default risk and, thereby, reduce federal costs of loan defaults. This testimony focuses on the following: (1) recent changes in interest rates and consolidation loan volume, and (2) how these changes have affected federal costs for FFELP and FDLP consolidation loans. Comments are based on findings from an October 2003 report entitled ?Student Loan Programs: As Federal Costs of Loan Consolidation Rise, Other Options Should be Examined? (GAO-04-101). Those findings were based on review and analysis of data from officials from Education?s Office of Federal Student Aid and Budget Service and representatives of FFELP lenders; a sample of student loan data extracted from Education?s National Student Loan Data System; relevant cost analyses prepared by Education; and statutory, regulatory, and other published information. For this testimony, numbers were updated to reflect recent estimates by the Department of Education. Overall, recent years have seen a drop in interest rates for student loan borrowers along with dramatic overall growth in consolidation loan volume (due in part to declining interest rates that have made it attractive for many borrowers to consolidate their variable rate student loans at a low, fixed rate). Recent trends in interest rates and consolidation loan volume have affected the cost of the FFELP and FDLP consolidation loan programs in different ways, but in the aggregate, estimated subsidy and administration costs hav.
Download or read book Direct student loans analyses of borrowers use of the income contingent repayment option report to the chairman Committee on Education and the Workforce House of Representatives written by United States. General Accounting Office and published by DIANE Publishing. This book was released on 1997 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Financial Crisis Inquiry Report written by Financial Crisis Inquiry Commission and published by Cosimo, Inc.. This book was released on 2011-05-01 with total page 692 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Financial Crisis Inquiry Report, published by the U.S. Government and the Financial Crisis Inquiry Commission in early 2011, is the official government report on the United States financial collapse and the review of major financial institutions that bankrupted and failed, or would have without help from the government. The commission and the report were implemented after Congress passed an act in 2009 to review and prevent fraudulent activity. The report details, among other things, the periods before, during, and after the crisis, what led up to it, and analyses of subprime mortgage lending, credit expansion and banking policies, the collapse of companies like Fannie Mae and Freddie Mac, and the federal bailouts of Lehman and AIG. It also discusses the aftermath of the fallout and our current state. This report should be of interest to anyone concerned about the financial situation in the U.S. and around the world.THE FINANCIAL CRISIS INQUIRY COMMISSION is an independent, bi-partisan, government-appointed panel of 10 people that was created to "examine the causes, domestic and global, of the current financial and economic crisis in the United States." It was established as part of the Fraud Enforcement and Recovery Act of 2009. The commission consisted of private citizens with expertise in economics and finance, banking, housing, market regulation, and consumer protection. They examined and reported on "the collapse of major financial institutions that failed or would have failed if not for exceptional assistance from the government."News Dissector DANNY SCHECHTER is a journalist, blogger and filmmaker. He has been reporting on economic crises since the 1980's when he was with ABC News. His film In Debt We Trust warned of the economic meltdown in 2006. He has since written three books on the subject including Plunder: Investigating Our Economic Calamity (Cosimo Books, 2008), and The Crime Of Our Time: Why Wall Street Is Not Too Big to Jail (Disinfo Books, 2011), a companion to his latest film Plunder The Crime Of Our Time. He can be reached online at www.newsdissector.com.
Download or read book The Cost of the Consolidation Option for Student Loans written by and published by . This book was released on 2006 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Federal Student Loans Education Needs to Improve Its Income Driven Repayment Plan Budget Estimates written by U.s. Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2017-07-26 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt: Federal student loans, Education needs to improve its income-driven repayment plan budget estimates: report to the Chairman, Committee on the Budget, U.S. Senate. As of June 2016, 24 percent of Direct Loan borrowers repaying their loans (or 5.3 million borrowers) were doing so in IDR plans, compared to 10 percent in June 2013. Education expects these plans to have costs to the government. GAO was asked to review Education's IDR plan budget estimates and estimation methodology. This report examines: (1) current IDR plan budget estimates and how those estimates have changed over time, and (2) the extent to which Education's approach to estimating costs and quality control practices help ensure reliable estimates. GAO analyzed published and unpublished budget data covering Direct Loans made from fiscal years 1995 through 2015 and estimated to be made in 2016 and 2017; analyzed and tested Education's computer code used to estimate IDR plan costs; reviewed documentation related to Education's estimation approach; and interviewed officials at Education and other federal agencies.
Download or read book Circular No A 11 written by Omb and published by . This book was released on 2019-06-29 with total page 534 pages. Available in PDF, EPUB and Kindle. Book excerpt: The June 2019 OMB Circular No. A-11 provides guidance on preparing the FY 2021 Budget and instructions on budget execution. Released in June 2019, it's printed in two volumes. This is Volume I. Your budget submission to OMB should build on the President's commitment to advance the vision of a Federal Government that spends taxpayer dollars more efficiently and effectively and to provide necessary services in support of key National priorities while reducing deficits. OMB looks forward to working closely with you in the coming months to develop a budget request that supports the President's vision. Most of the changes in this update are technical revisions and clarifications, and the policy requirements are largely unchanged. The summary of changes to the Circular highlights the changes made since last year. This Circular supersedes all previous versions. VOLUME I Part 1-General Information Part 2-Preparation and Submission of Budget Estimates Part 3-Selected Actions Following Transmittal of The Budget Part 4-Instructions on Budget Execution VOLUME II Part 5-Federal Credit Part 6-The Federal Performance Framework for Improving Program and Service Delivery Part7-Appendices Why buy a book you can download for free? We print the paperback book so you don't have to. First you gotta find a good clean (legible) copy and make sure it's the latest version (not always easy). Some documents found on the web are missing some pages or the image quality is so poor, they are difficult to read. If you find a good copy, you could print it using a network printer you share with 100 other people (typically its either out of paper or toner). If it's just a 10-page document, no problem, but if it's 250-pages, you will need to punch 3 holes in all those pages and put it in a 3-ring binder. Takes at least an hour. It's much more cost-effective to just order the bound paperback from Amazon.com This book includes original commentary which is copyright material. Note that government documents are in the public domain. We print these paperbacks as a service so you don't have to. The books are compact, tightly-bound paperback, full-size (8 1/2 by 11 inches), with large text and glossy covers. 4th Watch Publishing Co. is a HUBZONE SDVOSB. https: //usgovpub.com
