Page:United States Statutes at Large Volume 106 Part 1.djvu/605

 PUBLIC LAW 102-325—JULY 23, 1992 106 STAT. 573 • «EC. 458. REPORTS. 20 USC 1087h. "(a) ANNUAL REPORTS.— The Secretary shall submit to the Congress not later than July 1, 1993, and each July 1 for the 5 succeeding years an annual report describing the progress and status of the loan demonstration program. "(b) INTERIM FINAL REPORT. — The Comptroller General shall submit to the Congress not later than January 1, 1997, an interim final report evaluating the experience of the Department of Education, the participating institutions of higher education, students, and parents with respect to the loan demonstration program. The report shall include— "(1) the administrative costs, including costs per loan, incurred by participating institutions of higher education in administering the loan demonstration program; "(2) the administrative costs, including costs per loan, incurred by the Department of Education and its contractors in carrying out its responsibilities, including the costs of origination, data systems, servicing, and collection; "(3) an evaluation of the effectiveness of the loan demonstration program in providing services to students and parents, including loan application, login origination, student financial aid packaging, tracking of student status, responsiveness to student inquiries and processing of deferments, forbearances, and repayments; "(4) the fi*equency and cost of borrower delinquency and default under the loan demonstration program and losses incurred by institutions of higher education and servicers, including losses caused by improper origination or servicing of loans; "(5) the timeliness of capital availability to institutions of higher education and of loans to students and parents and the cost of loan capital; "(6) an evaluation of the effectiveness of the income contingent repayment option; "(7) a comparison of the experience of institutions of higher education, students, and parents participating in loan demonstration program with the experience of institutions, students, and parents in the control group described in subsection (d) with respect to the subjects indicated in paragraphs (1) through (6) of this subsection; "(8) an evaluation of the administrative performance of the Department; "(9) an analysis of the reasons institutions selected by the Secretary pursuant to section 453(d) chose not to participate and the reasons institutions withdrew or were terminated pursuant to section 455; "(10) an analysis of the experience of borrowers with loans under both this psirt and part B and recommendations for the most effective repa5ment procedures for such borrowers; "(11) a comparison of the cost of loan capital for loans for the loan demonstration program with the cost of loan capital for the comparable programs in part B of this title; "(12) an analysis, where practicable, of the experience of institutions which participate as part of a consortia; and "(13) recommendations for modifications, continuation, expansion, suspension, or termination of the loan demonstration pro-

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