"While I cannot comment on specific customers without their permission, based on the description of the scenarios you provided, all of these examples would have continued in repayment without any changes to their loan or outreach to the estate," Christel said.
Interest accrues on the Stafford Loans during periods of enrollment and continues through repayment, which begins six months following graduation or after a student's enrollment status drops to less than half-time.
If Ireland continues making repayments, the Irish will have paid some $61 billion to the European Central Bank by 2031.
But the increase was largely caused by interest and charges, as repayments continued to outstrip new spending.
Separate statistics published today by the Building Societies Association BSAshowedowed that repayments continued to outstrip borrowing in the mutual sector.
Just over £8bn was paid off the UK's collective mortgage debt in the third quarter of 2012 as repayments continued to outstrip new borrowing.
But GM cautioned that cash flow would be negative in the fourth quarter, due to a number of factors, including more than $8.3 billion in scheduled outflows for the government loan repayments, continued restructuring and money it owes to its former parts subsidiary, Delphi.
Borrowers continued to make their repayments.
"TARP repayments have continued to exceed expectations, substantially reducing the projected cost of this program to taxpayers," Herbert Allison, the Treasury's assistant secretary for financial stability, said in a statement.
"TARP repayments have continued to exceed expectations, substantially reducing the projected cost of this program to taxpayers," said Herbert M. Allison, Treasury's assistant secretary for financial stability.
