The Congressional hearing examined abuse, mismanagement, and fraud in student loan programs focusing on the fraudulent activities of proprietary schools. Witnesses included officials of the Department of Education including:(1) Laura F. Cavazos, Secretary; (2) Ernest C. Canellos, Student Financial Assistance; (3) John S. Haines, Debt Collection…

The Stafford Loan Program (formerly called the Guaranteed Student Loan Program) makes three kinds of student loans for postsecondary education: Stafford Loans, Supplemental Loans for Students (SLS), and Parents Loans for Undergraduate Students (PLUS). Stafford loans are low-interest loans based on financial need, while SLS and PLUS loans are not…

Information is provided on the activities of the First Independent Trust Company (FITCO) of Carmichael, California, which made loans to students participating in the Stafford Student Loan Program until California's State Banking Department closed it in May 1989. During the 11 years FITCO was in the Stafford program, it made over $1 billion in…

Describes how a federal program let a California for-profit institution, the Masters Institute, expand its distance education offerings, but then led to its closure because of findings of financial aid fraud. (EV)

Testimony of the associate director of the Department of Education's Health Education and Human Services Division, Education and Employment Issues, addresses issues concerned with Title IV of the Higher Education Act of 1965 as amended in 1992. Title IV provides grants, loans, and work-study supports to students pursuing post-secondary education…

This hearing before the Committee on Banking, Housing, and Urban Affairs, addresses the implications of the anticipated failure of the Higher Education Assistance Foundation (HEAF), the largest guarantor of student loans. HEAF's difficulties have affected Sallie Mae (Student Loan Marketing Association), and have raised general questions about the…

The report, based on data from the first National Postsecondary Student Aid Study (1986), describes the combinations of student aid awards or student aid "packages" received by federally-aided students to finance their educations in 1986-87. The narrative discussion presents the results in a question-and-answer format, including such…

Colleges and universities will be held directly responsible for loan repayments by their former students. Most postsecondary institutions with default rates of more than 20% are for-profit trade schools, community colleges, or historically Black colleges. (MLW)

The American Association of Cosmetology Schools (AACS) criticized the General Accounting Office (GAO) report which stated that federal student financial aid was being spent to train proprietary school students for oversupplied occupations. The GAO defended the following findings: (1) an occupation-specific training program that lacked a general…

This videotape (running time 18.52 minutes) was produced to help students as they shop for a college or career school. It contains shopping tips for both types of institution and stresses the importance of determining what a student wants to do and learn and then looking carefully at the options for education to achieve these goals. Students are…

This is the eighth annual report and summary of information relating to Missouri's postsecondary 113 private career schools for 1995-96. Following Part 1 and Part 2, foreword and introduction respectively, Part 3 is a directory of schools certified to operate in Missouri. Part 4 is a compilation and graphic display of observations from the data…

This is the seventh annual report and summary of information on Missouri's postsecondary private career schools for 1994-95. Following part 1 and part 2, foreword and introduction respectively, part 3 is a directory of schools certified to operate in Missouri. Part 4 is a compilation and graphic display of data on the schools in 17 figures of…

This is the fourth annual report and summary of information relating to Missouri's postsecondary private career schools for 1991-92. Following part I and part II, foreword and introduction respectively, part III is a directory of schools certified to operate in Missouri. Part IV is a compilation and graphic display of observations from the data…

A study to examine the repayment of Guaranteed Student Loans is described. It found that most of the institutions with more than 60 percent of their student loans in default are proprietary schools. The study is aimed at helping state and federal policymakers make decisions on student-aid programs. (MLW)

The decline in the number of black high school graduates moving on to college is discussed. Black high school graduates have chosen to enter the armed services, to work in business, or finish their educations in noncollegiate postsecondary schools. The impact of changes in federal financial aid is described. (MLW)