A r c h i v e d  I n f o r m a t i o n

FY 2003 Budget Summary - February 4, 2002

U.S. Department of Education Fiscal Year 2003 President's Budget

(in thousands of dollars) Category
Code 		2001
Appropriation 		2002
Appropriation 		2002
Proposed Supplement 		2003
President's Request 		President's Request Compared to 2002 Appropriation
Amount Percent
OFFICE OF STUDENT FINANCIAL ASSISTANCE PROGRAMS (OSFAP)
Federal Family Education Loans Liquidating Account (HEA IV-B)
1. Family education loans
M (1,063,810)1 (744,810)1 --- (625,162)1 119,648 16.1%
Outlays M (852,539) (680,208) --- (625,162) 55,046 8.1%
Funds returned to Treasury (non-add) M (1,063,810) (744,810) --- (625,162) 119,648 16.1%
Federal Family Education Loan Program Account
1. Loan subsidies (HEA IV-B)
M 3,068,290 3,781,230 --- 4,124,260 343,030 9.1%
2. Reestimate of existing loans
M (4,727,793) 0 --- 0 0 0.0%
Total, FFEL Program Account   (1,659,503)2 3,781,2302 --- 4,124,260 343,030 9.1%
Outlays, Total   (1,552,285) 3,331,825 --- 3,689,245 357,420 10.7%
Discretionary D 55,652 66,761 --- 11,328 (55,433) -83.0%
Mandatory M (1,607,937) 3,265,064 --- 3,677,917 412,853 12.6%
Federal Direct Student Loan Program Account
1. Loan subsidies (HEA IV-B)
M (1,039,009) (731,300) --- (613,212) 118,088 16.1%
2. Reestimate of existing loans
M 481,223 0 --- 0 0 ---
Subtotal, loan subsidies   (557,786) (731,300) --- (613,212) 118,088 -16.1%
Federal administration (HEA IV-D section 458):
 (a)Mandatory
M 0 0 --- 797,000 797,000 ---
 (b)Discretionary, modification of mandatory account
D 0 0 --- (797,000) (797,000) ---
Subtotal, Federal administration   03 03 --- 0 0 ---
Total   (557,786)3 (731,300)3 --- (613,212) 118,088 16.1%
Discretionary D 0 0 --- (797,000) (797,000) ---
Mandatory M (557,786) (731,300) --- 183,788 915,088 -125.1%
Outlays, Total M 255,162 (26,071) --- (282,342) (256,271) -983.0%
Federal administration--mandatory M 812,948 705,229 --- 318,743 (386,486) -54.8%
Loan subsidies--mandatory M (557,786) (731,300) --- (601,085) 130,215 17.8%
Funds returned to Treasury (non-add) M (1,717,032) (731,300) --- (613,212) 118,088 16.1%
TOTAL, OSFAP
  (7,392,901 14,590,620 1,276,000 15,653,386 1,062,766 7.3%
Total, Discretionary D 10,674,000 12,285,500 1,276,000 11,970,500 (315,000) -2.6%
Total, Mandatory M (3,281,099) 2,305,120 --- 3,682,886 1,377,766 59.8%
1 Reflects net transfers to Treasury; no new budget authority is required.
 2 Adjusted for comparability. Excludes discretionary funds of $48,000 thousand in fiscal year 2001 and $48,836 thousand in fiscal year 2002 for Federal administration costs, which are requested in fiscal year 2003 in the proposed Student Aid Administration account.
 3 Adjusted for comparability. Excludes mandatory funds of $770,000 thousand in fiscal year 2001 and $780,000 thousand in fiscal year 2002 for Federal administration costs, which are requested in fiscal year 2003 as discretionary funds in the proposed Student Aid Administration account.
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This page was last updated 02/04/02 (smj)