Guaranteed Student Loan Default Reduction Act

[AI summary unavailable — showing source text] Guaranteed Student Loan Default Reduction Act - Amends the Higher Education Act of 1965 to revise guaranteed student loan program provisions to authorize the Secretary of Education (the Secretary) to limit, suspend, or terminate an institution's eligibility for such program unless it enters into and complies with a default reduction agreement (the agreement) containing specified provisions the Secretary deems necessary. Allows the agreement to require the institution to: (1) pay a supplemental insurance premium; (2) delay certification of a student's loan eligibility until he or she has completed at least one month of attendance; (3) obtain specified information from the student; (4) submit monthly reviews and reports to guaranty agencies on students who have left for reasons other than graduation; (5) provide students in-school and exit counseling on loan obligations; (6) provide students notification and certain information during the grace period before repayment; and (7) pay the Government costs of administering such agreement. Sets the applicable maximum default rate at 25 percent, with specified exceptions. Directs the Secretary to annually publish data on the default rates o…