Federal Student Loan Programs Data Book FY94-FY96 / Table 44. Federal Family Education Loan (FFEL) program status of federal advances: As of September 30, 1996
Federal Student Loan Programs Data Book FY94-FY96
Table 44. Federal Family Education Loan (FFEL) program status of federal advances: As of September 30, 1996
This table shows the status of federal advances to 56 public and private guaranty agencies, including the United Student Aid Funds (USAF) and the Higher Education Assistance Foundation (HEAF)\1\ , through the FFEL program. The table also summarizes the amount of repayment and dollars outstanding for each agency.
- At the end of FY96, a total of over $205.4 million in federal cash advances were disbursed to the 56 guaranty agencies listed. (This number includes funds disbursed to USAF and HEAF.) By September 30, 1996, approximately 80.9 percent, or $166.1 million, of these funds were repaid.
- No significant repayments of federal advances occurred since FY94. In FY94, 80.4\2\ percent of federal advances were recovered, compared to 80.9 percent in FY96.
- USAF holds $9.4 million in outstanding advances that account for 64.9 percent of the federal advances made to this agency ($14.5 million). Other state and private agencies hold $29.9 million in outstanding advances, or 16.6 percent of all federal advances made to other state and private agencies ($180.0 million). All HEAF outstanding balances were paid by agencies that took over activities from HEAF in FY91.
1/ HEAF folded in FY91. Sallie Mae assumed management of the HEAF portfolio and other agencies were designated to guarantee loans in the HEAF states.
2/ FY93 Loan Programs Data Book
Table 44. Federal Family Education Loan (FFEL) program status of federal advances: as of September 30, 1996