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Accession Number PB2014-103944
Title Federal Student Loans: Impact of Loan Limit Increases on College Prices Is Difficult to Discern.
Publication Date Feb 2014
Media Count 58p
Personal Author N/A
Abstract A college education can increase the choices and opportunities available to individuals, but high college tuition rates have prompted concerns that a college education may be an unattainable goal for some. To help students finance their education, Congress passed a law that raised the ceiling on the amount students can borrow under the federal Stafford Loan Program (referred to in the law as 'loan limits'). The Ensuring Continued Access to Student Loans Act of 2008 mandated a series of GAO reports over a 5 year period assessing the impact of these increases in the loan limits on tuition and other expenses and on private student loan borrowing. For this final report, GAO examined: (1) the extent to which, if any, the Stafford loan limit increases affected tuition, fees and room and board prices at institutions of higher education; and (2) the trends in private student loan borrowing since the loan limits took effect. GAO developed a statistical model to explore whether the loan limit increases in academic years 2007-08 and 2008-09 had an impact on college prices in subsequent years. GAO analyzed data from the Department of Education (Education) and the Consumer Financial Protection Bureau (CFPB), and interviewed officials from eight higher education institutions that represented a mix of college sectors in different regions of the country, three of the largest private student lenders, federal officials, and subject matter specialists.
Keywords Colleges
Educational finance
Federal aid
Fees
Higher education
Loans
Prices
Statistical data
Students
Trends
Tuition

 
Source Agency General Accounting Office
NTIS Subject Category 92D - Education, Law, & Humanities
96F - Banking & Finance
Corporate Author Government Accountability Office, Washington, DC.
Document Type Technical report
Title Note N/A
NTIS Issue Number 1411
Contract Number N/A

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