Federal Direct Student Loans: Hearing Before the Committee on Labor and Human Resources, United States Senate, One Hundred Second Congress, Second Session, on S. 2255, to Amend Part D of Title IV of the Higher Education Act of 1965 to Provide for Income Dependent Education Assistance, February 25, 1992, Volume 4This document provides testimony, prepared statements, articles, publications, and other materials concerning the issue of augmenting current student financial assistance programs with the addition of direct student loans (Self Reliance Loans), and examines responsible ways in which the federal government should move in this direction. Among the persons providing testimony are the following: U.S. Senators Bill Bradley (New Jersey), Edward M. Kennedy (Massachusetts), Orrin G. Hatch (Utah), Nancy Landon Kassebaum (Kansas), Paul Simon (Illinois), Strom Thurmond (South Carolina), and Daniel K. Akaka (Hawaii) and U.S. Representative Thomas E. Petri (Wisconsin). Additional witnesses giving testimony or prepared statements include, among others,: John Silber, president, Boston University (Massachusetts); Father William J. Byron, president, The Catholic University, Washington, D.C.; Barry Bluestone, professor of political economy, University of Massachusetts, Boston, Massachusetts; Roxie LaFever, vice president, financial aid, University of Phoenix, Phoenix, Arizona; and Elizabeth M. Hicks, coordinator of financial aid, Harvard University, Cambridge, Massachusetts. Materials presented include "Concerns and Unanswered Questions Regarding Income Dependent Education Assistance (IDEA) aka Self Reliance Loans," and a copy of a discussion draft of a bill to amend Part D of Title IV of the Higher Education Act of 1965 to provide for income dependent education assistance. (GLR) |
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Page 6
... rate of interest on the loan . In contrast , with direct lending the government borrows the funds at wholesale rates ... interest rate , or make it directly at a lower in- terest rate , we still pay for any defaults . Can the Education ...
... rate of interest on the loan . In contrast , with direct lending the government borrows the funds at wholesale rates ... interest rate , or make it directly at a lower in- terest rate , we still pay for any defaults . Can the Education ...
Page 7
... interest rate on IDEA / Self - Reliance is the 52 - week treas- ury bill rate plus two percentage points , instead of an added 3.25 percentage points in the SLS program . Also , while the Senate ver- sion of the Higher Education Act ...
... interest rate on IDEA / Self - Reliance is the 52 - week treas- ury bill rate plus two percentage points , instead of an added 3.25 percentage points in the SLS program . Also , while the Senate ver- sion of the Higher Education Act ...
Page 14
... interest in this issue . We have designed a pilot initiative that will permit us to test the direct loan approach ... rate equal to the 52 week rate on Treasury bills plus 2 percent . If the plan were 14.
... interest in this issue . We have designed a pilot initiative that will permit us to test the direct loan approach ... rate equal to the 52 week rate on Treasury bills plus 2 percent . If the plan were 14.
Page 34
... interest rates on their loans because they get the most benefit from the in- school interest subsidy . A second major advantage of the IDEA approach is that it provides a better deal than Stafford , SLS , or HEAL for most students . For ...
... interest rates on their loans because they get the most benefit from the in- school interest subsidy . A second major advantage of the IDEA approach is that it provides a better deal than Stafford , SLS , or HEAL for most students . For ...
Page 39
... cost of education has simply gone beyond the ability of young people to earn enough to pay for it . We had this last ... interest rate would be around 12-15 percent , and it would be a good deal . So this discouraged participation by ...
... cost of education has simply gone beyond the ability of young people to earn enough to pay for it . We had this last ... interest rate would be around 12-15 percent , and it would be a good deal . So this discouraged participation by ...
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Common terms and phrases
administrative aid programs amount bill Chairman committee CONGRES CONGRESS THE LIBRARY costs debt burdens default rates demonstration dents Department of Education dependent education assistance direct lending direct loan program earnings education assistance program eligible entitlement federal direct loans Federal Government fiscal funds going graduates gram Guaranteed Student Loan higher education higher education bill HOOYMAN Hope College income dependent education income-contingent loan increased institutions of higher interest rate Internal Revenue Service Jim Helm John Silber legislation lenders LIBRARY OF CONGRESS loan repayment tax ment million options participating payments Pell Grant percent Perkins Loan program postsecondary education prepared statement problems promissory note proposal questions repay their loans Sallie Mae Secretary self-reliance loan Senator BRADLEY Senator Durenberger Senator HATCH Senator KASSEBAUM Senator SIMON Silber STATEMENT OF SENATOR student aid student borrowers student financial aid student loan program taxpayers Thank tion Treasury tuition USSA
Popular passages
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Page 58 - Green of the Center for Scholarly Technology at the University of Southern California, the "sticker shock" of tuition and fees is forcing students to "buy down.
Page 4 - Senator Simon. OPENING STATEMENT OF SENATOR SIMON Senator SIMON. Thank you, Mr. Chairman. I want to thank the panel and everyone who has been participating.
Page 66 - Thank you, Mr. Chairman. The CHAIRMAN. Senator Simon. Senator SIMON. Thank you, Mr. Chairman.
Page 50 - Clearly, credit reform is not 'just* an accounting change. It Is an opportunity to see each program with fresh eyes. Credit reform asks the right questions: Who is being helped? By how much? At what cost? It focuses attention and budgetary decisions on the costs underlying each loan, juxtaposed with the borrowers who benefit from these programs. It provides perspective for both policy analysis and program management. (Part Two - 226...
Page 15 - Senator Hatch. OPENING STATEMENT OF SENATOR HATCH Senator HATCH. Thank you, Mr. Chairman. I would just like to make a few comments regarding today's hearing.
Page 106 - SENATOR FROM THE STATE OF HAWAII Mr. Chairman, I would like to speak in favor of S.
Page 59 - ... discrimination in the labor market is not automatically ratified as is the current practice under fixed obligation loans. The income contingent feature of UDIC loans requires students to repay based on actual earnings and therefore takes full account of differences in earnings for any reason. (7) Because UDIC loans are income contingent, students will be more likely to enroll in programs that conform to their academic strengths and career goals than in programs which simply hold out the promise...
Page 97 - USSA looks forward to further discussing the»e issues as you consider direct lending proposals, and stands ready to be of assistance. We think that the direct lending could be a powerful way to ensure that student loans work in students
Page 44 - Appear now among the parliaments of conquerors and give instruction to their schemes: Measure out new liberties so none shall suffer for his father's color or the credo of his choice: Post proofs that brotherhood is not so wild a dream as those who profit by postponing it pretend...