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While Miller's office faults the program that guarantees rates of return to ``middleman'' private lenders, McKeon says the government's direct loan program is wasteful. The Federal Accounting Standards Advisory Board (FASAB) issues Statement of Federal Financial Accounting and Auditing Technical Release 3 (revised), Auditing Estimates for Direct Loan and Loan Guarantee Subsidies under the Federal Credit Reform Act and Technical Release 6, Preparing Estimates for Direct Loan and Loan Guarantee Subsidies under the Federal Credit Reform Act (www. Harvard and other institutions participating in the Direct Loan program constantly struggle with inconsistencies in the rules under which the Direct Loan (DL) and the Federal Family Educational Loan (FFEL) programs must operate. |
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