Direct Student Loan Program: Management Actions Could Enhance Customer Service
DIANE Publishing, 2004 - 51 pages
In 1993, Congress authorized the Ford Fed. Direct Loan Program (DLP) as an alternative to the Fed. Family Educ. Loan Program (FFELP). While the DLP was originally mandated to replace FFELP, Congress revised the law allowing both loan programs to continue. Since that time, competition between the programs has been credited with improving borrower benefits and service for schools. The DoE Office of Fed. Student Aid (FSA) and administers the DLP, and one of its goals is to improve customer service. This report examines the extent to which schools participate in the DLP, factors that influenced schools' decision to begin -- and for some schools end -- participation, and steps that FSA has taken to increase the user-friendliness of the program. Charts and tables.
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4-year private 4-year public administer the program Appendix benefits contractors customer service representatives decision to participate Direct Loan Program Direct Loan schools Direct Loan volume Direct Student Loan DLSRO staff Estimated Percentages federal loan FFELP lenders offered financial aid officials former Direct Loan FSA officials reported FSA Region FSA Web Sites FSA's GAO Survey guaranty agencies helped them administer information from schools information system interest rate reduction interviews Join the Direct less-than-2-year schools loan origination fees loan processes loan reconciliation Loan schools reported loans through FFELP master promissory note NSLDS number of schools officials at Direct officials at schools Origination and Disbursement passwords percent of Direct percentage of schools population private 4-year Program and FFELP Program to FFELP provided loans public 4-year schools repaying electronically Repayment Incentives responses sampling error school type schools have stopped schools participated schools that participated schools that provided schools we visited Stafford loans stopped participating
Page 27 - Education's written comments appear in appendix II. We are sending copies of this report to the Secretary of Education, appropriate congressional committees, and other interested parties.
Page 31 - ... express our confidence in the precision of our particular sample's results as a 95 percent confidence interval. For all the percentages presented in this report, we are 95-percent confident that when only sampling errors are considered, the results we obtained are within +/- 6 percentage points or less of what we would have obtained if we had surveyed the entire study population. For example, our survey estimates that 70 percent of the population feels that it is very or somewhat convenient to...
Page 34 - Office Washington, DC 20548 Dear Ms. Ashby: Thank you for the opportunity to respond to the US Government Accountability Office's (GAO's) report entitled "STUDENT CONSOLIDATION LOANS: Further Analysis Could Lead to Enhanced Default Assumptions for Budgetary Cost Estimates...
Page 31 - In addition to the reported sampling errors, the practical difficulties of conducting any survey may introduce other types of errors, commonly referred to as nonsampling errors. For example, differences in how a particular question is interpreted...
Page 31 - ... drawn. Since each sample could have provided different estimates, we express our confidence in the precision of our particular sample's results as a 95 percent confidence interval.
Page 31 - As with all sample surveys, this survey is subject to both sampling and nonsampling errors. The effects of sampling errors, due to the selection of a sample from a larger population, can be expressed as confidence intervals based on statistical theory. The effects of nonsampling errors, such as nonresponse and errors in measurement, may be of greater or lesser importance, but cannot be quantified on the basis of the available data.
Page 31 - ... throughout the country. If a different sample had been taken, the results might have been different. To recognize the possibility that other samples might have yielded other results, we express our confidence in the precision of our particular...
Page 35 - Again, thank you for the opportunity to comment on this draft report. If I can be of further assistance, please do not hesitate to call.
Page 2 - Loan schools are based on the "sample" and are subject to sampling error. Unless otherwise noted, we are 95 percent confident that the results we obtained are within +/- 6 percentage points of what we would have obtained if we had received responses from the entire population.