Student Loan Programs

The subcommittee heard testimony on the financial status of federal student aid programs. The thirteenth of a series of 44 hearings on… read more

The subcommittee heard testimony on the financial status of federal student aid programs. The thirteenth of a series of 44 hearings on the reauthorization of the Higher Education Act, the hearing investigated the conduct of the student financial aid programs by the Department of Education. Currently, the Department of Education enforces its student loan programs mainly through post-default penalties, such as penalties for schools with loan default rates of 35 percent or higher, and a 30 day waiting period between application and payment of student loans. Witnesses testified on methods to restore public and government confidence in the federal student loan programs run by the Department of Education. Mr. Thompson recommended ensuring the financial stability of the student loan program through maintaining larger financial reserves, which may reduce the availability of funds to students. Other recommendations made by the General Accounting Office include default prevention efforts such as increasing the lender’s risk in making a loan, reducing borrower abuse, and stricter guidelines for schools participating in student loan programs. close

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  • Ted Sanders Deputy Assistant Secretary Department of Education
  • James Thomas Inspector General Department of Education
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Student Loan Programs

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Program ID:
18174-1
Category:
House Committee
Format:
House Committee
Location:
Washington, District of Columbia, United States
First Aired:
May 29, 1991
Last Aired:
Jun 2, 1991

Airing Details

  • May 29, 1991 | 9:36am EDT | C-SPAN 1
  • May 29, 1991 | 8:43pm EDT | C-SPAN 2
  • May 30, 1991 | 2:00pm EDT | C-SPAN 2
  • Jun 01, 1991 | 10:34am EDT | C-SPAN 1
  • Jun 02, 1991 | 2:35am EDT | C-SPAN 2
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