View in EDS

Direct Government Lending: The Bottom Line. A Critique of GAO's Report on Guaranteed Student Loans versus Direct Lending and Revised Savings Estimates.

Saved in:
Bibliographic Details
Title: Direct Government Lending: The Bottom Line. A Critique of GAO's Report on Guaranteed Student Loans versus Direct Lending and Revised Savings Estimates.
Language: English
Authors: Quick, Perry D., Ernst & Young, Washington, DC.
Availability: Public Affairs Office, USA Group, Inc., P.O. Box 6180, Indianapolis, IN 46206-6180.
Peer Reviewed: N
Page Count: 10
Publication Date: 1993
Sponsoring Agency: USA Group, Inc., Indianapolis, IN.
Intended Audience: Administrators; Policymakers; Practitioners
Document Type: Reports - General
Descriptors: Budgeting, Comparative Analysis, Cost Effectiveness, Evaluation, Federal Aid, Financial Support, Higher Education, Paying for College, Postsecondary Education, Student Financial Aid, Student Loan Programs
Laws, Policies and Program Identifiers: Family Education Loan Program
Abstract: This report addresses the dollar savings described in the Government Accounting Office's (GAO) report supporting direct lending as opposed to the present guaranteed student loan program. The critique explains the changes in the GAO model assumptions and projections that are believed necessary to move from the original $4.8 billion savings to a more reasonable figure. The new figure reflects: (1) 1992 amendments to the Higher Education Act; (2) the current interest rate and inflationary outlook; and (3) more reasonable assumptions about how the shift to direct lending will affect financial markets, educational institutions, student behavior, loan flows, and processing and servicing activities. The updated and revised estimates suggest that the shift from the current guaranteed student loan program to direct lending would generate essentially zero budgetary savings; in fact, it suggests that a $13 million loss, in present value terms, over the 5-year budget period could be experienced. (GLR)
Entry Date: 1993
Accession Number: ED356726
Database: ERIC
FullText Text:
  Availability: 0
CustomLinks:
  – Url: https://eric.ed.gov/contentdelivery/servlet/ERICServlet?accno=ED356726
    Name: ERIC Full Text
    Category: fullText
    Text: Full Text from ERIC
Header DbId: eric
DbLabel: ERIC
An: ED356726
AccessLevel: 3
PubType: Report
PubTypeId: report
PreciseRelevancyScore: 0
IllustrationInfo
Items – Name: Title
  Label: Title
  Group: Ti
  Data: Direct Government Lending: The Bottom Line. A Critique of GAO's Report on Guaranteed Student Loans versus Direct Lending and Revised Savings Estimates.
– Name: Language
  Label: Language
  Group: Lang
  Data: English
– Name: Author
  Label: Authors
  Group: Au
  Data: <searchLink fieldCode="AR" term="%22Quick%2C+Perry+D%2E%22">Quick, Perry D.</searchLink><br /><searchLink fieldCode="AR" term="%22Ernst+%26+Young%2C+Washington%2C+DC%2E%22">Ernst & Young, Washington, DC.</searchLink>
– Name: Avail
  Label: Availability
  Group: Avail
  Data: Public Affairs Office, USA Group, Inc., P.O. Box 6180, Indianapolis, IN 46206-6180.
– Name: PeerReviewed
  Label: Peer Reviewed
  Group: SrcInfo
  Data: N
– Name: Pages
  Label: Page Count
  Group: Src
  Data: 10
– Name: DatePubCY
  Label: Publication Date
  Group: Date
  Data: 1993
– Name: SourceSuprt
  Label: Sponsoring Agency
  Group: SrcSuprt
  Data: USA Group, Inc., Indianapolis, IN.
– Name: Audience
  Label: Intended Audience
  Group: Audnce
  Data: Administrators; Policymakers; Practitioners
– Name: TypeDocument
  Label: Document Type
  Group: TypDoc
  Data: Reports - General
– Name: Subject
  Label: Descriptors
  Group: Su
  Data: <searchLink fieldCode="DE" term="%22Budgeting%22">Budgeting</searchLink><br /><searchLink fieldCode="DE" term="%22Comparative+Analysis%22">Comparative Analysis</searchLink><br /><searchLink fieldCode="DE" term="%22Cost+Effectiveness%22">Cost Effectiveness</searchLink><br /><searchLink fieldCode="DE" term="%22Evaluation%22">Evaluation</searchLink><br /><searchLink fieldCode="DE" term="%22Federal+Aid%22">Federal Aid</searchLink><br /><searchLink fieldCode="DE" term="%22Financial+Support%22">Financial Support</searchLink><br /><searchLink fieldCode="DE" term="%22Higher+Education%22">Higher Education</searchLink><br /><searchLink fieldCode="DE" term="%22Paying+for+College%22">Paying for College</searchLink><br /><searchLink fieldCode="DE" term="%22Postsecondary+Education%22">Postsecondary Education</searchLink><br /><searchLink fieldCode="DE" term="%22Student+Financial+Aid%22">Student Financial Aid</searchLink><br /><searchLink fieldCode="DE" term="%22Student+Loan+Programs%22">Student Loan Programs</searchLink>
– Name: SubjectThesaurus
  Label: Laws, Policies and Program Identifiers
  Group: Su
  Data: <searchLink fieldCode="SU" term="%22Family+Education+Loan+Program%22">Family Education Loan Program</searchLink>
– Name: Abstract
  Label: Abstract
  Group: Ab
  Data: This report addresses the dollar savings described in the Government Accounting Office's (GAO) report supporting direct lending as opposed to the present guaranteed student loan program. The critique explains the changes in the GAO model assumptions and projections that are believed necessary to move from the original $4.8 billion savings to a more reasonable figure. The new figure reflects: (1) 1992 amendments to the Higher Education Act; (2) the current interest rate and inflationary outlook; and (3) more reasonable assumptions about how the shift to direct lending will affect financial markets, educational institutions, student behavior, loan flows, and processing and servicing activities. The updated and revised estimates suggest that the shift from the current guaranteed student loan program to direct lending would generate essentially zero budgetary savings; in fact, it suggests that a $13 million loss, in present value terms, over the 5-year budget period could be experienced. (GLR)
– Name: DateEntry
  Label: Entry Date
  Group: Date
  Data: 1993
– Name: AN
  Label: Accession Number
  Group: ID
  Data: ED356726
PLink https://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=eric&AN=ED356726
RecordInfo BibRecord:
  BibEntity:
    Languages:
      – Text: English
    PhysicalDescription:
      Pagination:
        PageCount: 10
    Subjects:
      – SubjectFull: Budgeting
        Type: general
      – SubjectFull: Comparative Analysis
        Type: general
      – SubjectFull: Cost Effectiveness
        Type: general
      – SubjectFull: Evaluation
        Type: general
      – SubjectFull: Federal Aid
        Type: general
      – SubjectFull: Financial Support
        Type: general
      – SubjectFull: Higher Education
        Type: general
      – SubjectFull: Paying for College
        Type: general
      – SubjectFull: Postsecondary Education
        Type: general
      – SubjectFull: Student Financial Aid
        Type: general
      – SubjectFull: Student Loan Programs
        Type: general
      – SubjectFull: Family Education Loan Program
        Type: general
    Titles:
      – TitleFull: Direct Government Lending: The Bottom Line. A Critique of GAO's Report on Guaranteed Student Loans versus Direct Lending and Revised Savings Estimates.
        Type: main
  BibRelationships:
    HasContributorRelationships:
      – PersonEntity:
          Name:
            NameFull: Ernst & Young, Washington, DC.
      – PersonEntity:
          Name:
            NameFull: Quick, Perry D.
    IsPartOfRelationships:
      – BibEntity:
          Dates:
            – D: 01
              M: 01
              Type: published
              Y: 1993
ResultId 1