Report Materials
The purpose of this inspection is to determine: 1) why so few major banks participate as HEAL lenders; 2) how to encourage greater participation by lenders; 3) the potential impact of risk sharing on HEAL; and 4) ways to reduce the borrower default rate to ensure the continued solvency of the Student Loan Insurance Fund.
The inspection is based on personal and telephone interviews with the ten largest HEAL lenders (SLMA, two state agencies and seven commercial banks), seven participating banks with limited loan activity, and five major non-participating banks. Interviews were also conducted with ten HEAL schools in six states representing six different health disciplines , as well as with private experts and organizations .
The inspection builds upon the extensive prior work done by OA and PHS, and is intended to provide additional information for use by Department officials in considering future program options.
Notice
This report may be subject to section 5274 of the National Defense Authorization Act Fiscal Year 2023, 117 Pub. L. 263.