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Federal Student Loan Programs Data Book FY94-FY96

Tables 55-60. Federal Family Education Loan (FFEL) program collections on defaulted loans for Stafford Subsidized, Stafford Unsubsidized, Parent Loans for Undergraduate Students (PLUS), Supplemental Loan for Students (SLS), and Consolidation loans, by guaranty agency: FY94-FY96


Collections are repayments on defaulted loans. Once the guaranty agency pays off a default claim, the lender transfers the account to that guaranty agency. The guaranty agency is then responsible for seeking out the borrower and collecting on the defaulted loan(s). If the guaranty agency is unable to collect from the borrower, it may turn the account over to the Department of Education. In FY93, it became mandatory that all accounts that have had no collection activity within the last 3 years be assigned to the Department of Education for collection; these funds are referred to as "mandatory assignments."

Table 60 shows collections on defaulted loans, by guaranty agency, in FY94-FY96. The information is presented for each FFEL program (Stafford Subsidized, Stafford Unsubsidized, PLUS, SLS, and Consolidation in tables 55-59, respectively. All tables report the percent change, percent share of total, and guaranty agency rank.


Table F. Total dollar volume and percent change of program collections on defaulted dollars, by loan program: FY94-FY96 (Subset of table 60)
FY94 FY95 FY96
Stafford Subsidized $875,948 $955,750 $1,118,304
Percent change from prior year - 9.1 17.0
Stafford Unsubsidized 10 414 4,077
Percent change from prior year - 4235.9 884.8
PLUS 35,365 51,647 74,098
Percent change from prior year - 46.0 43.5
SLS 98,953 135,360 194,994
Percent change from prior year - 36.8 44.1
Consolidation 17,345 28,569 38,870
Percent change from prior year - 64.7 36.1
FFEL total 1,027,620 1,171,740 1,430,343
Percent change from prior year - 14.0 22.1

- Not applicable.
NOTES: Dollars in thousands. Details may not add to totals due to rounding. SOURCE: U.S. Department of Education, Office of Postsecondary Education, ED Form 1130.


Table 55. Federal Family Education Loan (FFEL) program collections on defaulted loans for Stafford Subsidized loans, by guaranty agency: FY94-FY96

Table 56. Federal Family Education Loan (FFEL) program collections on defaulted loans for Stafford Unsubsidized loans, by guaranty agency: FY94-FY96

Table 57. Federal Family Education Loan (FFEL) program collections on defaulted loans for Parent Loans for Undergraduate Students (PLUS) loans, by guaranty agency: FY94-FY96

Table 58. Federal Family Education Loan (FFEL) program collections on defaulted loans for Supplemental Loan for Students (SLS) loans, by guaranty agency: FY94-FY96

Table 59. Federal Family Education Loan (FFEL) program collections on defaulted loans for Consolidation loans, by guaranty agency: FY92-FY96

Table 60. Federal Family Education Loan (FFEL) program collections on defaulted loans for Stafford Subsidized, Stafford Unsubsidized, Parent Loan for Undergraduate Students (PLUS), Supplemental Loan for Students (SLS), and Consolidation loans, by guaranty agency: FY94-FY96

 

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