GAO Report Says Exceptional Performer Status Should Be Eliminated
Abstract:
In a letter to House Education Committee Chairman George Miller (D-CA) yesterday, the Government Accountability Office (GAO) stated that the “exceptional performer” status some lenders receive, and the financial benefits that come along with it, should be eliminated. Currently 18 loan providers meet federal requirements to be designated as exceptional performers, allowing them to receive increased reimbursements from the government on defaulted student loans. But according to the GAO study, eliminating the exceptional performer status would save the government substantial sums of money without harming current loan servicing standards.
The full article was originally published in NASFAA’s Today’s News on 7/27/07.
If you like this post, consider adding my blog to your RSS Updates or sign up for free email updates.
Posted in Legislative Issues, Published Work, Regulatory Writing, Today's News Articles
RSS Updates
Email Updates