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Direct Student Loans: Overpayments During the Department of Education's Conversion to a New Payment System

HEHS-99-44R Published: Feb 17, 1999. Publicly Released: Feb 17, 1999.
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Highlights

Pursuant to a congressional request, GAO reviewed reports of erroneous Department of Education payments to schools participating in the William D. Ford Federal Direct Loan Program (FDLP) during the conversion to a new computerized payment system, focusing on: (1) the transition from the old payment system to the new payment system; and (2) whether the Department erroneously disbursed $400 million to schools participating in the direct loan program during the conversion.

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Direct loansFinancial management systemsLoan accounting systemsLoan repaymentsOverpaymentsStudent loansSchoolsPayment systemsStudentsHigher education