Office of Program Policy Analysis and Government Accountability
Office of Program Policy Analysis and Government Accountability

Office of Student Financial Assistance Generally Performs Well, But Performance Measurement and Default Prevention Should Be Improved

Report 03-16, February 2003

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Report Summary

  • The Department of Education's Office of Student Financial Assistance has accumulated approximately $30.9 million in net earnings from its federal loan guaranty operations. At a minimum, the Legislature could appropriate $7.9 million of these earnings to support state financial aid initiatives next year.
  • The office has not collected or reported data for most of its legislative performance measures, which hinders the assessment by the Legislature of financial assistance policies. The Legislature should consider adding measures to assess college affordability as well as office performance in administering financial aid programs.
  • Office customers express a high level of satisfaction with services, and productivity as a guaranty agency has improved significantly over the past two years. However, the office needs to improve its performance in preventing students from defaulting on their loans.
  • Restructuring the office's guaranty agency function as an entrepreneurial non-state entity or exempting it from certain administrative requirements could increase its efficiency and effectiveness and could produce additional revenues to support state financial aid initiatives. The financial benefit of continuing the office's guaranty agency function could be eliminated if its Federal Student Loan Reserve Fund balance drops below a certain level, but this is unlikely to happen for many years.

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    Report 06-57 August 2006
  2. Progress Report: Office of Student Financial Assistance Improved Some Functions, But Additional Changes Would Enhance Services
    Report 05-08 February 2005
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    Report 04-54 August 2004
  4. Stronger Financial Incentives Could Encourage Students to Graduate With Fewer Excess Hours
    Report 04-44 June 2004
Copies of this report in print or alternate accessible format may be obtained by email OPPAGA@oppaga.fl.gov, telephone (850) 488-0021, or mail 111 W. Madison St., Room 312 Tallahassee, FL 32399-1475.
Copies of this report in print or alternate accessible format may be obtained by email OPPAGA@oppaga.fl.gov, telephone (850) 488-0021, or mail 111 W. Madison St., Room 312 Tallahassee, FL 32399-1475.
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