Guaranteed Student Loan Default Reform Act of 1988

[AI summary unavailable — showing source text] Guaranteed Student Loan Default Reform Act of 1988 - Amends the Higher Education Act of 1965 (the Act) to revise guaranteed student loan program provisions relating to default rates. Requires guaranty agencies to meet certain data system information requirements. Includes among such requirements information on loan delinquencies and defaults, as well as on changes in enrollment or repayment status of borrowers whose loans are delinquent or in default. Requires guaranty agencies furnishing information to eligible institutions to include information on students who are delinquent in repaying loans (as well as those in default). Allows such information to be in the form of monthly lists, identifying the date on which the delinquency or default commenced. Requires eligible institutions to: (1) review such information and report any corrections to the guaranty agency; and (2) make certain additional information relevant to loan collection available to guaranty agencies. Requires eligible lenders or holders of loans to: (1) furnish to the appropriate guaranty agency a monthly list of the names of student borrowers who are delinquent, their last known address, the remaining loan balance, …