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Alternative Market Mechanisms for the Student Loan Program

By Hansen, William D.

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Book Id: WPLBN0000691913
Format Type: PDF eBook
File Size: 4.72 MB.
Reproduction Date: 2003
Full Text

Title: Alternative Market Mechanisms for the Student Loan Program  
Author: Hansen, William D.
Volume:
Language: English
Subject: Government publications, Department of Education pub, Education.
Collections: Educational Resource Collection
Historic
Publication Date:
Publisher: U.S. Department of Education

Citation

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Hansen, W. D. (n.d.). Alternative Market Mechanisms for the Student Loan Program. Retrieved from http://www.netlibrary.net/


Excerpt
Excerpt: The Honorable Edward M. Kennedy Chairman The Honorable Judd Gregg Ranking Minority Member Committee on Health, Education, Labor, and Pensions United States Senate The Honorable John A. Boehner Chairman The Honorable George Miller Ranking Minority Member Committee on Education and the Workforce House of Representatives Dear Messrs. Kennedy, Gregg, Boehner, and Miller; Section 801 of the Higher Education Amendments of 1998 (F.L. 105-244) requires the Comptroller General and the Secretary of Education, in consultation with a study group, to identify not fewer than three different market mechanisms for use in determining lender return on student loans while continuing to meet the other objectives of the Federal student loan programs. Enclosed is the joint final report of the study group, Alternative Market Mechanisms for the Student Loan Program. The study group met four times to discuss the issues outlined in the statute. At the beginning of its work, the study group's members determined that the statute required an analysis of various policy options that would allow policymakers in the Congress and the Administration to make decisions about the future of the loan programs. Accordingly, the report contains analyses of various options but does not attempt to make any recommendations. In January 2001, the General Accounting Office (GAO) and the Education Department (ED) released a draft report for public comment. After the sixty-day comment period ended, GAO and ED reviewed the public comments and made changes where appropriate. If you have any questions regarding this report, please feel free to contact me.

Table of Contents
Table of Contents: Overview 1 -- Chapter 1: Program Background and the 1998 HEA Mandate 8 -- Chapter 2: Adjustments to the Current FFELP System 25 -- Chapter 3: Loan Origination Rights Auction 32 -- Chapter 4: Loan Sale 42 -- Chapter 5: Federal Funding 49 -- Chapter 6: Market-Set Rates 55 -- Chapter 7: Income-Contingent Repayment 63 -- Appendix I: Mandate From the Higher Education Amendments of 1998 69 -- Appendix II: List of Study Group Members 71 -- Appendix III: Technical Aspects of Auction Design 75 -- Appendix IV: Details on Income-Contingent Repayment in FDLP 82 -- Appendix V: Call Options as a Mechanism for Determining Net -- Lender Yields 93 -- Appendix VI: Additional and Dissenting Views From Rene Champagne 96 -- Appendix VII: Additional and Dissenting Views From Michael Hershock and -- Richard Pierce 97 -- Appendix VIII: Additional and Dissenting Views From Paul Tone and -- Richard Pierce 103 -- Appendix IX: Public Comments From Career College Association 131 -- Appendix X: Public Comments From CBA, NCHELP, and SLSA 134 -- Appendix XI: Public Comments From FinAid Page 137

 

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