This report provides information on the default rates in the Stafford Student Loan Program for schools accredited by seven agencies: Accrediting Bureau of Health Education Schools; Accrediting Council for Continuing Education and Training (ACCET); Association of Independent Colleges and Schools; National Accrediting Commission of Cosmetology Arts and Sciences; National Association of Trade and Technical Schools; National Home Study Council (NHSC); and Southern Association of Colleges and Schools' Commission on Occupational Education Institutions. For each accrediting agency, data concern the number of schools accredited, dollars in default, average default dollars per school, number of borrowers in repayment, number of borrowers in default, number and percent of schools with certain default rate thresholds, and range of default dollars for its schools. Also noted are the number of schools with a default volume of $1 million or more. Results found that borrower default rates varied from a high of 38% for schools accredited by ACCET and NHSC, to the lowest rate of 24% for schools with multiple accreditation. Appendices contain a Department of Education letter to schools concerning default reduction initiatives, and the Department of Education methodology for calculating cohort default rates for 1988. A list of 12 related General Accounting Office products concludes the report. (JDD)