U.S. Department of Education: Promoting Educational Excellence for all Americans

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

Student Financial Assistance Programs

Goal 8: Program-Specific Goal/Mission
Objective 1 of 3: INCREASE CUSTOMER SATISFACTION
Indicator 8.1.1 of 1: Increase Customer Satisfaction to a comparable private sector industry average - American Customer Satisfaction Index (ACSI) rating of 75.9 (out of a possible score of 100) - by FY 2002
Targets and Performance Data Assessment of Progress Sources and Data Quality
Customer satisfaction rating
Year Actual Performance Performance Targets
 
Customer satisfaction rating
Customer satisfaction rating
1999
63
 
2000
72.90
 
2001
74.20
 
2002
 
75.90
Status: Positive progress toward target. FSA's Customer Satisfaction composite improved by approximately 2% from the prior year, rising from 72.9 to 74.2, about the same change that was apparent in the overall private financial services sector. The FSA ACSI score remains higher than the government-wide average of 71 as well as, private-sector banks average score of 72.

Explanation: The ACSI uses a widely accepted methodology to obtain standardized customer satisfaction for all its participants. Over 170 private-sector corporations use ACSI. Because it is widely used across all business sectors it allows us to benchmark and compare ourselves to the best in business. The 1999 data were based on SFA's student application process.    
Frequency: Annually.
Collection Period: 2002.
Validated By: On-Site Monitoring By ED.
Verified by Dept. of ED attestation process and ED.

Limitations: While ACSI was able to determine a score for the lender component of the Financial Partners Channel; they were not able to calculate a score for the Guaranty Agency or Servicer component due to survey non-response. Efforts are underway to improve response, including a new advanced procedure for improving the sample frame as well as, the development an effective community-based outreach and follow-up campaign.

 

Objective 2 of 3: DECREASE UNIT COSTS
Indicator 8.2.1 of 1: Reduce actual unit costs: By FY 2004, reduce actual unit costs from projected unit costs by 19 percent
Targets and Performance Data Assessment of Progress Sources and Data Quality
Unit Costs
Year Actual Performance Performance Targets
 
Projected Unit Costs
Projected Unit Costs
1999
16.70
16.70
2000
20.10
20.10
2001
19.60
19.60
2004
 
16.70
Status: Target met. FSA workload, measured in the number of aid recipients, grew by six percent between FY 2000 and 2001. Modernized systems, legacy system requirements, and other cost cutting actions kept the actual increase in total FSA obligations to approximately three percent, including the investment costs of modernization, which totaled $72 million.

Explanation: Unit Costs are defined as total obligations recorded in a fiscal year divided by the number of unduplicated recipients of loans and grants. Unit cost data are based on FSA Obligations and Contract Costs. 
Additional Source Information: The cost component comes from obligation incurred 1999 through 2001. Out-year estimates are based on budget projections. The number of unduplicated recipients comes from the Office of the Undersecretary.

Frequency: Annually.
Collection Period: 2002.
Data Available: October 2002.
Validated By: No Formal Verification.
No formal verification procedure applied.

 

Objective 3 of 3: INCREASING EMPLOYEE SATISFACTION
Indicator 8.3.1 of 1: Increase Customer Satisfaction to a comparable private sector industry average - American Customer Satisfaction Index (ACSI) rating of 75.9 (out of a possible score of 100) - by FY 2002: Raise Gallup Workplace Management Grand Mean Score to at least 3.6 -- the private sector average -- by 2004.
Targets and Performance Data Assessment of Progress Sources and Data Quality
FSA Employee satisfaction ranking
Year Actual Performance Performance Targets
 
NPR (out of 49) Gallup (on a 5 point scale)
NPR (out of 49) Gallup (on a 5 point scale)
1998
33  
   
1999
38  
   
2000
5 3.50
   
2001
  3.70
   
2004
   
  3.60
Status: Target exceeded. After achieving our target four years early, a new goal was set using The Gallup Workplace Management Grand Means. This goal was also achieved early. FSA's dramatic improvement of the Grand Mean from 3.51 to 3.74 was the largest increase ever seen by Gallup in the Federal Sector. It also exceeded the target previously set which was to meet the average Grand Mean for private-sector financial institutions by 2004.

Explanation: Source data for this indicator changed in 2001 to the Gallup Organization's Workplace Measurement Tool. The Gallup tool not only provides long-term consistency; it provides more diagnostic information to gauge employee satisfaction. Additionally, it requires that individual work groups develop action plans to address employee satisfaction issues. 
Additional Source Information: 2001 Gallup Workplace Management Tool (Survey).

Frequency: Unknown.
Collection Period: Unknown.
Data Available: Unknown.
Validated By: Data verified by ED attestation process.

 

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