Federal Student Loan Programs Data Book FY94-FY96
Table 37. Federal Family Education Loan (FFEL) program estimated dollars outstanding, as of September 30 of each fiscal year, by loan program: FY86-FY96
This table shows the amount of dollars outstanding for each of the five FFEL programs and the combined FFEL program totals for FY86-FY96. The table includes figures representing the total volume of dollars in school, in repayment, and outstanding.
- Between FY86 and FY96, the total volume of FFEL program dollars outstanding increased each year (from $38.6 billion in FY86 to $100.0 billion in FY96, a 159.4 percent increase).
- FFEL program dollars outstanding increased from the prior year by 15.9 percent in FY94 (from $69.0 to $80.0 billion); 15.9 percent in FY95 (from $80.0 to $92.7 billion); and 7.9 percent in FY96 (from $92.7 to $100.0 billion); resulting in an overall increase of 44.9 percent from FY93-FY96.
- Even though the dollars outstanding increased each year between FY94 and FY96, the various loan programs that constitute the FFEL program presented different patterns in their changes during these years. For example:
- In FY96, the dollars outstanding for the Stafford Subsidized loan program decreased by 3.4 percent (from $62.8 in FY95 to $60.6 billion in FY96). The dollars outstanding for the Supplemental Loan for Students (SLS) program also decreased from the previous year by 17.2 percent in FY95 (from $9.0 to $7.5 billion) and by 19.3 percent in FY96 (from $7.5 to $6.0 billion). Since the SLS program ended in FY94, it would not show increases.
- In FY95, the increase in the Stafford Unsubsidized loan program dollars outstanding was substantially greater than that reported for the FFEL program as a whole. Following the first year of implementation (FY94), the Stafford Unsubsidized dollars outstanding increased by 328.3 percent (from $1.7 to $7.4 billion). Between FY95 and FY96, the Stafford Unsubsidized dollars outstanding increased by 80.3 percent (from $7.4 to $13.4 billion).
- The Consolidation loan program also had larger increases in dollars outstanding than those reported for the overall FFEL program. Increases from the prior years in FY94-FY96 were 20.7, 38.5 and 44.8 percent, rising to $7.2, $9.9, and $14.4 billion, respectively.
- Even though the proportion of Stafford Subsidized dollars outstanding to total FFEL program dollars outstanding decreased each year, the Stafford Subsidized program continued to represent the majority of FFEL program dollars outstanding from FY86-FY96. In FY86, the Stafford Subsidized amount of dollars outstanding represented 96.5 percent of total FFEL program dollars outstanding, while in FY96, this proportion decreased to 60.6 percent. For example:
- The proportion of the Stafford Unsubsidized dollars outstanding to total FFEL program dollars outstanding increased from 2.2 percent in FY94 ($1.7 out of $80.0 billion) to 13.4 percent in FY96 ($13.4 out of $100.0 billion).
- The proportion of Parent Loans for Undergraduate Students (PLUS) and SLS loans to total FFEL program dollars outstanding increased from 1.7 and 1.8 percent, respectively, in FY86 as compared to an increase from 5.6 and 6.0 percent, for PLUS and SLS loans, respectively, in FY96.
- In FY87, the Consolidation loan program represented 0.6 percent of total FFEL program dollars outstanding. In contrast, the Consolidation loan program represented 14.4 percent of total dollars outstanding in FY96.
- From FY86-FY96, the proportion of the total number of dollars in school to the total number of dollars outstanding decreased overall, from 45.8 percent in FY86 ($17.7 out of $38.6 billion) to 32.2 percent in FY93 ($22.2 out of $69.0 billion). In contrast, the proportion of the total numbers of dollars in school to the total numbers of dollars outstanding increased overall (32.2, 34.0, 38.0, and 36.1 percent in FY93-FY96, respectively). This is not representative of the trends shown in the Stafford Subsidized and Unsubsidized programs. For example:
- The annual dollars in school as a percentage of total Stafford Subsidized dollars outstanding fluctuated between 47.5 percent in FY86 ($17.7 out of $37.2 billion) and 42.9 percent in FY96 ($26.0 out of $60.6 billion).
- The annual dollars in school as a percentage of total Stafford Unsubsidized dollars outstanding was 93.9, 90.0, and 75.1 percent in FY94-FY96 ($1.6 out of $1.7; $6.7 out of $7.4; and $10.1 out of $13.4 billion), respectively.
NOTE: The "Dollars in school" category does not apply to PLUS, SLS, and Consolidation loans because PLUS and SLS loans go into repayment on the date the loan is disbursed by the lender, and Consolidation occurs only after a borrower starts the repayment process.
Table 37. Federal Family Education Loan (FFEL) program estimated dollars outstanding, as of September 30th of each fiscal year, by loan program: FY86-FY96
Table A-37. Federal Family Education Loan (FFEL) program estimated dollars outstanding, as of September 30th of each fiscal year, by loan program: FY79-FY96
Graph 37. Federal Family Education Loan (FFEL) program estimated dollars outstanding: FY86-FY96
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Table 38