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B-117604(7) 1 (1973-11-05)

handle is hein.gao/gaobabkys0001 and id is 1 raw text is: Aarmn th 9 ice exep on the ba$ tof specific appoVal , X the Offics Of Co gessional R&blatos a record of wvhich Sr. kept by the Distributon Section, Publictions BrAnch 6,A§ COMPTROLLER GENERAL OF THE UNITED SATU WASHINGTON. D.C. Z0548 VNTRELEASED yJ B-117604 (7) NOV 5 13 ( The Honorable Samuel L. Devine House of Representatives C Dear Mr. Devine: Your letter of August 8, 1973, requested further information concerning de4a4 qos un4deqthe itnted St ig ..8 administered by the Office of Education (OE), Department of Health, Education, and Welfare (HEW). This report covers only those loans insured 100 percent by the Federal Government. The following table shows, for fiscal year 1968 through the first 2 months of fiscal year 1974, the dollar volume and the number of commitments for these loans. Dollar volume Number of Fiscal year (millions) commitments 1968 $ 66,555 82,549 1969 217,607 248,489 1970 353,788 365,388 1971 483,899 487,135 1972 708,164 691,874 1973 654,616 599,085 1974 (2 months) 131,355 105,205 Total $2,615,984 2,579,72 Your requests for information and our replies follow. (A) A report by month of purchase showing the number of loans purchased (defaulted) and the total amount of the loans In our letter to you dated February 26, 1973, we furnished a breakdown for fiscal years 1968 and 1969, 1970, 1971, and 1972 for the total number of loans in default and the total amount paid under the guaranty for these loans. We also fur- nished a breakdown for loans by categories (payment defaults, defaults due to bankruptcy, and defaults due to death or dis- ability). As you know, the law does not require that collec- tion action be taken on claims due to death or disability. O1?OV

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