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|Information ForStudentsParentsTeachersAdministrators                                |  | 
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|Information AboutGrants & ContractsFinancial AidResearch & StatisticsPolicyPrograms |  | 
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|Federal        Student Loan Programs Data Book  -  FY 1997-FY 2000
|------------------------------------------------------------------
|Part        IFFEL Program and FDLP Summary Information            







Table 1.
  Federal Family Education Loan (FFEL) program executive summary: FY 1966-FY 2000

This table provides    summary information about FFEL program loan volume, defaults, expenditures,    and receipts for FY 1966-FY 2000.

Loan volume    commitments

- Since its inception,      109.9 million loans worth nearly $317.0 billion have been committed through      the FFEL program. Approximately 56.2 percent of the loans and 67.9 percent      of the dollar volume were committed in FY 1990-FY 2000.
- Annual FFEL      loan volume increased each year from $12.3 billion in FY 1990 to $23.1 billion      in FY 1994, but decreased in FY 1995 and FY 1996, to $21.0 and $19.7 billion,      respectively. By FY 2000, annual loan volume had grown to $25.7 billion.
- The number of      loans also decreased in FY 1995 and FY 1996 to 5.9 and 5.3 million, respectively,      representing a 13.0 and 9.1 percent decrease from prior years. However, by      FY 2000, the number of loans increased to 6.3 million.
- FFEL program      annual loan volume commitments reached its highest level in FY 2000 when $25.7      billion were committed through 6.3 million loans. The annual number of FFEL      loans reached its highest level in FY 1994 when 6.7 million loans worth $23.1      billion were committed.
- Between FY 1990-FY      2000, the average loan increased 48.2 percent in current dollars from $2,734      to $4,051. The typical annual increase in average loan amount was between      2.2 and 4.4 percent. But in FY 1993 and FY 1994, the average loan amount increased      10.0 and 8.1 percent, respectively, over prior years.

Defaults

- Cumulative guaranty      agency (GA) payments made on defaulted loans to lenders were $38.9 billion      in FY 2000, 73.1 percent of which were made between FY 1990 and FY 2000.
- Annual GA default      payments to lenders fluctuated between a low of $2.0 billion in FY 1999 to      a high of $3.2 billion in FY 1991.

Federal outlays

Federal outlays    include payments made to lenders and guaranty agencies and the cost of collections.    Major FFEL program outlays include interest benefits paid to lenders and reinsurance    default claims paid to guaranty agencies. These two outlay components accounted    for 68.4 percent of all FFEL program outlays in FY 2000.

- In FY 1990-FY      2000, the total federal outlays for the FFEL program fluctuated from a low      of $5.1 billion in FY 1993 to a high of $6.5 billion in FY 2000. The greatest      annual increase occurred in FY 1996 (12.8 percent), while the greatest decrease      occurred in FY 1993 (10.7 percent).

Federal outlays    to lenders

Federal outlays    to lenders include interest benefits, special allowances, death and disability    claims, bankruptcy claims, and Federal Insured Student Loan Program (FISLP)    default claims.

- Interest benefits      paid to lenders was $1.5 billion in FY 1990, grew in every year except FY      1993, and peaked at nearly $2.7 billion in FY 1996. By FY 2000, interest benefits      paid to lenders had fallen to $2.2 billion. In FY 2000, interest benefits      paid to lenders accounted for 34.6 percent of total federal outlays. (See      table A.)
- After peaking      at a level of $615 million in FY 1995, special allowances fluctuated between      a high of $390 million in FY 1996 to a low of $222 million in FY 1999. In      FY 2000 special allowances spiked at $1.4 billion, an increase of 511.7 percent      from FY 1999. In FY 2000, special allowances accounted for 21.0 percent of      total federal outlays. (See table A.)
- Death and disability      claims increased each year between FY 1990 and FY 1999 from $57 million to      $235 million. In FY 2000, however, death and disability claims decreased 9.4      percent to $213 million. In FY 2000, death and disability claims accounted      for 3.3 percent of total federal outlays. (See table A.)
- Bankruptcy claims      fluctuated significantly from FY 1990-FY 2000. Bankruptcy claims grew from      $9 million in FY 1990 to a peak of $279 million in FY 1993. Claims then dropped      considerably to $26 million in FY 1994. Beginning in FY 1995 bankruptcy claims      grew steadily from $4 million to $135 million in FY 1999, and then dropped      again to $85 million in FY 2000. In FY 2000, bankruptcy claims accounted for      1.3 percent of total federal outlays. (See table A.)
- FISLP default      claims paid to lenders decreased from $17 million in FY 1990 to $8 million      in FY 1996. FISLP default claims were not applicable in FY 1997-FY 2000.



To view the parent table for the following derivative table in an accessible format please go to http://www.ed.gov/finaid/prof/resources/data/fslpdata97-01/table1.xls.
These files are in Microsoft Excel format. If you do not have Excel, you can access the files by downloading the free Excel viewer at: http://office.microsoft.com/downloads/2000/xlviewer.aspx.

|Table        A. - Federal outlay component as a percent of total federal outlays:        FY 1990-FY 2000 (subset of table 1)                                                                                                                                                                                                 
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|
|Federal        outlays                                                                                                                                                                                                                                                                                                       
|To        lenders                                                                                                                                                                                                                                                                                                            
|Interest          benefits                                                                                                                                                                                                                                                                                                   
|Special allowance                                                                                                                                                                                                                                                                                                            
|Death and          disability claims                                                                                                                                                                                                                                                                                         
|Bankruptcy          claims                                                                                                                                                                                                                                                                                                   
|FISLP default          claims                                                                                                                                                                                                                                                                                                
|To        guaranty agencies                                                                                                                                                                                                                                                                                                  
|Administrative          cost allowance                                                                                                                                                                                                                                                                                       
|Loan processing          & issuing fee                                                                                                                                                                                                                                                                                       
|Account maintenance          fee                                                                                                                                                                                                                                                                                             
|Loan advances                                                                                                                                                                                                                                                                                                                
|Reinsurance          default claims                                                                                                                                                                                                                                                                                          
|Refund of          excess reserves                                                                                                                                                                                                                                                                                           
|Collections        cost*                                                                                                                                                                                                                                                                                                     
|Total federal        program outlays                                                                                                                                                                                                                                                                                         
|- Not applicable.
        * Costs from FY90 through FY00 include FFEL program and FISLP.
        NOTES: Details may not add to total due to rounding. Calculations are          based on numbers before rounding.
        SOURCE: U.S. Department of Education, Office of Postsecondary Education,          compiled data.



Federal outlays    to guaranty agencies

Federal outlays    to guaranty agencies include administrative cost allowances, loan processing    and issuing fees, account maintenance fees, loan advances, reinsurance default    claims, and refunds of excess reserves.

- In FY 1990-FY      1999, annual administrative cost allowances fluctuated from a low of $105      million in FY 1991 to a high of $312 million in FY 1994. In FY 2000, administrative      cost allowances were not applicable.
- In FY 2000,      $93 million in loan processing and issuing fees were paid to guaranty agencies.      In FY 1999 and FY 2000, $188 million and $204 million were paid in account      maintenance fees, respectively.
- Reinsurance      default claims fluctuated from a low of approximately $2.2 billion in FY 2000      to a high of $3.2 billion in FY 1991. In FY 2000, reinsurance default claims      accounted for 33.8 percent of total federal outlays. (See table A.)
- Refunds in excess      of reserves were only reported in FY 1992 and FY 1993, when they increased      from $8 to $14 million.

Collections    cost

Collections costs    were $11 million in FY 1990 and peaked at $138 million in FY 1996. In FY 1997-FY    2000, collections cost fluctuated from a low of $51 million in FY 1998 to a    high of $97 million in FY 2000. In FY 2000, collections cost accounted for 1.5    percent of total federal outlays. (See table A.)

Federal income/receipts

Federal income    includes FISLP insurance premiums, FISLP collections, guaranty agency reimbursements,    advances returned, excess reserves, reinsurance fees, origination and other    fees, IRS offsets-DCS assigned loans, IRS offsets-GA, mandatory assignment collections,    and rehabilitation loans.

- In FY 1990-FY      1996, total federal income/receipts for the FFEL program increased annually      from $1.2 billion in FY 1990 to $3.3 billion in FY 1996. After lower levels      of total federal income/receipts in FY 1997 ($2.8 billion) and FY 1998 ($3.2      billion), this figure rose to $3.9 billion in FY 1999. In FY 2000, total federal      income/receipts remained at $3.9 billion.
- The two major      sources of FFEL program federal income are guaranty agency reimbursements      and origination and other fees. In FY 1999, guaranty agency reimbursements      were $1.4 billion, and origination and other fees were $839 million. Receipts      from these two sources accounted for 57.6 percent of total federal income      in FY 1999. (See table B.)
- In FY 1990-FY      1996, annual FISLP collections fluctuated between a low of $33 million in      FY 1992 to a high of $55 million in FY 1996. FISLP collections were not reported      in FY 1997-FY 2000.
- Annual income      from guaranty agency reimbursements increased steadily from $466 million in      FY 1994 to $1.4 billion in FY 1999. In FY 1999, guaranty agency reimbursements      accounted for 35.8 percent of total federal income. (See table B.)
- Returned advances,      excess reserves, and reinsurance fees all contributed only slightly to total      federal income in FY 1990-FY 2000. (See table B.) Beginning in FY 1994, receipts      from returned advances were zero, and beginning in FY 1992, receipts from      excess reserves were zero. Beginning in FY 1996, receipts from reinsurance      fees were zero.
- Between FY 1990-FY      2000, annual receipts from origination and other fees fluctuated from a low      of $395 million in FY 1990 to a high of $1.1 billion in FY 1994. In FY 2000,      receipts from origination and other fees was $941 million and accounted for      37.7 percent of annual federal income. (See table B.)
- Annual federal      income from IRS offset-DCS fluctuated from $12 million to $35 million in FY      1990-FY 1993 and then was much higher, fluctuating from $211 million to $452      million in FY 1994-FY 1999. In FY 2000, federal income from IRS offset-DCS      declined slightly to $411 million. However, IRS offset-DCS accounted for an      increasing proportion of annual federal income from FY 1996 (6.6 percent)      to FY 2000 (16.4 percent). (See table B.)
- In FY 1990-FY      2000, annual federal income from IRS offset-GA fluctuated from a low of $216      million in FY 1990 to a high of $570 million in FY 1999. In FY 2000, federal      income from IRS offset-GA was $482 million and accounted for 19.3 percent      of federal income. (See table B.)
- Mandatory assignment      collections increased dramatically from $5 million in FY 1990 to $799 in FY      1996. Mandatory assignment collections then decreased in FY 1997 ($467 million)      and FY 1998 ($428 million), but increased in FY 1999 ($612 million) and FY      2000 ($665 million). Mandatory assignment collections accounted for 26.6 percent      of federal income in FY 2000 (see table B.)



To view the parent table for the following derivative table in an accessible format please go to http://www.ed.gov/finaid/prof/resources/data/fslpdata97-01/table1.xls.
These files are in Microsoft Excel format. If you do not have Excel, you can access the files by downloading the free Excel viewer at: http://office.microsoft.com/downloads/2000/xlviewer.aspx.

|Table        B. - Federal income sources as a percent of total federal income/receipts:        FY 1990-FY 2000 (subset of table 1)                                                                                                                                                                                                                                                                                                                
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|
|Federal        income/receipts                                                                                                                                                                                                                                                                                                                                                                                                                    
|FISLP insurance        premium                                                                                                                                                                                                                                                                                                                                                                                                                    
|FISLP collections                                                                                                                                                                                                                                                                                                                                                                                                                                 
|Guaranty agency        reimbursements                                                                                                                                                                                                                                                                                                                                                                                                             
|Advances returned                                                                                                                                                                                                                                                                                                                                                                                                                                 
|Excess reserves                                                                                                                                                                                                                                                                                                                                                                                                                                   
|Reinsurance        fees                                                                                                                                                                                                                                                                                                                                                                                                                           
|Origination        and other fees                                                                                                                                                                                                                                                                                                                                                                                                                 
|IRS offset        - DCS assigned loans                                                                                                                                                                                                                                                                                                                                                                                                            
|IRS offset        - GA                                                                                                                                                                                                                                                                                                                                                                                                                            
|Mandatory        assign. coll.                                                                                                                                                                                                                                                                                                                                                                                                                    
|Rehabilitation        loans                                                                                                                                                                                                                                                                                                                                                                                                                       
|Total federal        income/receipts                                                                                                                                                                                                                                                                                                                                                                                                              
|- Not applicable.* Costs from FY90 through FY00 include FFEL program and FISLP as well as        computer costs and commissions on contract collections.NOTES: DCS assigned loans are handled by OSFAP/Students Channel, collections.        Details may not add to total due to rounding. Calculations are based on        numbers before rounding.SOURCE: U.S. Department of Education, Office of Postsecondary Education,        compiled data.



Cash outlays    over receipts

The total cash    outlays over receipts (total federal outlays minus total federal income) were    approximately $4.5 billion in FY 1990 and $2.6 billion in FY 2000. The highest    level of outlays over receipts was $4.9 billion in FY 1991, and the lowest level    was $1.9 billion in FY 1999.



To view the following table in an accessible format please go to http://www.ed.gov/finaid/prof/resources/data/fslpdata97-01/table1.xls.
These files are in Microsoft Excel format. If you do not have Excel, you can access the files by downloading the free Excel viewer at: http://office.microsoft.com/downloads/2000/xlviewer.aspx.

|Table        1. - Federal Family Education Loan (FFEL) program executive summary:        FY 1966-FY 2000                                                                                                                                                                                                                                                                                                                                                                                                                                           
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|
|
|Loan        volume commitments (excludes consolidations)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|Number of        loans (in 000's)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|Dollar amount                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|Actual average        loan (in units)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|Defaults                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|FISLP/guaranty        agency payments to        lenders                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|Federal          outlays
      To lenders                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|Interest        benefits                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|Special allowance                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|Death and        disability claims                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|Bankruptcy        claims                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|FISLP default        claims                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|To guaranty          agencies                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|Administrative        cost allowance                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|Loan processing        & issuing fee                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|Account maintenance        fee                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|Loan advances                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|Reinsurance        default claims                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|Refund of        excess reserves                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|Collections        cost*                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|Total FFEL        program outlays                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|Federal        income/receipts                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|FISLP insurance        premium                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|FISLP collections                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|Guaranty agency        reimbursements                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|Advances returned                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|Excess reserves                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|Reinsurance        fees                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|Origination        and other fees                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|IRS offset        -DCS assigned loans                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|IRS offset        -GA                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|Mandatory        assign. coll.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|Rehabilitation        loans                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|Total        federal income/receipts                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|Cash outlays        over receipts                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|-Not applicable. *Costs          from FY86 through FY00 include FFEL program and FISLP.
        NOTES: Rehabilitation loans are included in the figures shown for guaranty          agency reimbursements. Details may not add to total due to rounding. 
        Calculations are based on numbers before rounding. 0 indicates a number          less than 500,000. Data for earlier years appear in Table A-1 in appendix          I.SOURCE:          U.S. Department of Education, Office of Postsecondary Education, compiled          data.























































































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|Federal Student        Loan Programs Data Book  -  FY 1997-FY 2000