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Author(s):United States Office of Inspector General
Title:Federal Student Aid's Oversight and Monitoring of Guaranty Agencies, Lenders, and Servicers Needs Improvement
Organization:US DOE OIG
Short Description:Federal Student Aid (FSA) is not doing it's job to ensure that guaranty agencies, lenders, and servicers are performing in accordance with relevant laws, regulations, and guidance according to this audit by the Department of Education's Office of Inspector General (OIG).
Annotation:An OIG audit of FSA as a PBO found FSA lacked oversight and control of guaranty agencies, lenders, and servicers. FSA failed to review programs, complete compliance audits, and perform calculations correctly among other activities. FSA lacked written procedures for much work and failed to timely implement steps to correct similar findings in an earlier audit. -MS
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