Provisions in the Higher Education Amendments of 1986 (Public Law 99-498), which require guaranty agencies and lenders to report information on Stafford student loan program borrowers to credit bureaus, are examined. The purpose of these provisions is to promote greater borrower responsibility and repayment of student loans. The report addresses how 38 guaranty agencies and 18 lenders implemented these provisions, and analyzes the effect on students according to whether they repay or do not repay their loans. It was found that all guaranty agencies had agreements with and/or reported to at least one of the six national credit bureaus, although only three agencies had entered into agreements with all six bureaus. All lenders reported to at least one bureau. The majority of respondents believed that credit bureau reporting has had a positive effect on reducing the number of defaults. Nearly all guaranty agencies, as well as a majority of lenders, believed that borrowers who defaulted would be hindered by the credit bureau provisions when attempting to obtain other consumer credit. Most guaranty agencies and lenders were opposed to a change that would require deleting a bad credit rating if a delinquent account was subsequently made current or was paid in full after defaulting. The results are summarized in 11 figures. Summaries of the surveys are included in the appendixes. (JDD)