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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 No. 03-16, February 2003
 
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  • 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.

Which Government Program Summaries contain related information?

Student Financial Assistance

What other OPPAGA-related materials are available?

  • Report No. 06-57 Progress Report: Legislature Increases FRAG Awards; Residency Determination Rules Improved, published in August 2006.
  • Report No. 05-08 Progress Report: Office of Student Financial Assistance Improved Some Functions, But Additional Changes Would Enhance Services, published in February 2005.
  • Report No. 04-54 Information Brief: The State Has Several Options Available When Considering the Funding of Higher Education, published in August 2004.
  • Report No. 04-44 Information Brief: Stronger Financial Incentives Could Encourage Students to Graduate With Fewer Excess Hours, published in June 2004.
  • Report No. 04-12 Information Brief: Florida Universities’ Tuition and Fees Slightly Below Peers, But All Costs Consume a Higher Percentage of Family Median Income, published in February 2004.
  • Report No. 03-70 Justification Review: Private Colleges and Universities Program—Department of Education, published in December 2003.
  • Report No. 03-47 Information Brief: Compilation of College Affordability Data for Students Who Applied for Federal Aid, published in August 2003.
  • Report No. 03-33 Information Brief: College Attendance Costs Vary and Result From Higher Tuition, Room, and Board, published in June 2003.
  • Report No. 03-31 Information Brief: Voluntary Bright Futures Scholarship Testing Program Would Reduce Costs, published in April 2003.
  • Report No. 03-17 Program Review: Bright Futures Contributes to Improved College Preparation, Affordability, and Enrollment, published in February 2003.

Copies of this report in print or alternate accessible format may be obtained by telephone (850/488-0021), by FAX (850/487-9213), in person, or by mail (OPPAGA Report Production, Claude Pepper Building, Room 312, 111 W. Madison St., Tallahassee, FL 32399-1475).
e-mail address: oppaga@oppaga.fl.gov


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