The Economic Growth, Regulatory Relief, and Consumer Protection Act enabled lenders to offer a rehabilitation program to private student loan borrowers who have a reported default on their credit report. The lender may remove the reported default from credit reports if the borrower meets certain conditions. Congress included a provision in statute…

The purpose of this regulatory action is to amend the regulations governing the William D. Ford Federal Direct Loan (Direct Loan) Program (§ 685.200 of title 34 of the Code of Federal Regulations (CFR)). These regulations strengthen and improve administration of the Federal Direct PLUS Loan Program authorized under title IV of the Higher Education…

As of September 2013 about $94 billion--over 11 percent of federal student loan volume in repayment--was in default. Loan rehabilitation allows borrowers who make nine on-time monthly payments within 10 months to have the default removed from their credit reports. Department of Education (Education) contracts with collection agencies to assist…

Describes letters of credit and their usefulness in financing computer systems acquisition. Relevant legal policies and the different types and applications of letters of credit are discussed. (1 reference) (MES)

This statement focuses on issues related to consolidation loans and their cost implications for taxpayers and borrowers. Consolidation loans, available under the Department of Education?s (Education's) two major student loan programs?the Federal Family Education Loan Program (FFELP) and the William D. Ford Direct Loan Program (FDLP)?help borrowers…

Transcripts of Senate hearings on S. 2223 (the Consolidated Farm and Rural Development Act) and on Amendment No. 153 (to S. 1483) to establish the rural community development bank are presented in this document. In addition to some 25 miscellaneous documents, statements of representatives from municipal, state, and national organizations are…

Designed for the general public and possibly suitable also for high school economics students, this pamphlet discusses a federal law that requires that the borrower as well as the lender comply with government rules relating to the use of credit in purchasing securities, even when the borrower obtains credit outside the United States. The pamphlet…

This statement of the Director of Education and Employment Issues of the General Accounting Office's Human Resources Division discusses how the Stafford Student Loan program works, the growth in loans guaranteed and defaulted, and the concerns surrounding the financial problems being experienced by the Higher Education Assistance Foundation…

This booklet was published to help people better understand how to use it, how to determine if they are reaching or have reached their credit-debt limit, and what to do if they have exceeded that limit. It also explains federal rules, regulations, and laws pertaining to consumer installment credit that are designed to protect the consumer.…

Hearings on reauthorization of the Higher Education Act, and specifically Guaranteed Student Loans (GSL), are presented, with a focus on issues of multiple disbursements, loan consolidation, subsidies, and copayments. Witnesses represent the lending institutions, secondary markets, and students. The GSL program is designed to promote the…

Although housing standards have been raised in all parts of the United States since 1960, there are still significant numbers of American families whose housing conditions fall below accepted standards and others who must pay excessive portions of their income for housing. Nearly two-thirds of the nation's substandard housing is located in rural…

Designed for the general public and possibly suitable also for high school economics students, this pamphlet explains how to resolve a billing dispute in a way that protects the customer's credit rating and legal rights. The pamphlet focuses on specific requirements of the Fair Credit Billing law and presents the following: (1) six legal criteria…

This module is one of a set of seven prepared in conjunction with the Title I "Project to Train Volunteer Leaders to Conduct Consumer Education Courses." It is designed to be a basic text for use in making a one-hour presentation on legal aspects of the marketplace. Through use of the attached bibliography, a more in-depth knowledge can…

Submitted to the U.S. Senate by the Committee on Agriculture and Forestry, this report on the Rural Development Act of 1972 contains the following: (1) Brief Explanation of the Bill (Titles I-VII); (2) Statements on the Need for Rural Development and Rural Development Credit and Investment; (3) Titles I-VII (presented via a short explanation, a…

Designed for the general public and possibly suitable also for high school economics students, this pamphlet describes the provisions of the Equal Credit Opportunity Act. The act prevents age from being used as the basis to deny or decrease credit to those who otherwise qualify. The pamphlet presents general rules for rating an applicant: (1) a…