Federal Student Loan Programs Data Book

Table 2.
Federal Direct Loan Program (FDLP) cash flow as of September 30th: FY 1994-FY 2000

This table shows the cash flows of the FDLP. It was designed to be equivalent to the information provided in the Executive Summary (table 1) that provides loan volume, along with cash outlays and cash receipts for the FFEL program. The Direct Loan Program is different from FFEL in that the government makes the loans. There are far fewer entities involved and the cash flows are much simpler. The basic cash outflows (costs) come from interest paid to the Treasury and payments made to schools to cover their administrative expenses. The basic inflows come from the collections of interest and principal from borrowers repaying their loans and from the collection of fees.

Between FY 1994 and FY 2000, the FDLP committed nearly $60 billion dollars through 16.2 million loans. The annual dollar amount and number of loans increased through FY 1998, fell slightly in FY 1999, and grew again in FY 2000. Overall, the number of loans grew from 210,000 in FY 1994 to 3.1 million in FY 2000, while the dollar amount rose from $915 million to $11.8 billion in FY 2000.

Through FY 2000, the total interest paid to the Treasury in the FDLP was $13.3 billion, and the total payment of origination fees was $131.7 million. Interest paid to the Treasury increased annually and increased overall from $29.4 million in FY 1994 to $4.5 billion in FY 2000. Origination fees grew from $13.9 million in FY 1995 to $54.3 million in FY 2000.

Through FY 2000, the Department had collected $12.4 billion and $182.8 million in regular and defaulted principal, respectively. Nearly $10 billion of the cumulative regular principal, or 79.1 percent, was collected between FY 1999 and FY 2000.

Through FY 2000, the Department had collected $3.6 billion and $70.1 million in regular and defaulted interest, respectively. Like the regular principal, the majority of the cumulative regular interest (70.7 percent) was collected between FY 1999 and FY 2000.

Through FY 2000, the Department had collected $1.9 billion in school origination fees. The amount of origination fees collected annually grew from $317.8 million in FY 1996 to $392.4 million in FY 1999. In FY 2000, the Department collected $348.2 million in origination fees.

NOTE: The FDLP became operational in July 1994, consequently, the FY 1994 FDLP data include only one fiscal quarter of activity. During the first year of operation, FDLP loans were restricted to a small number of institutions. The FDLP makes loans directly available to borrowers, while the FFEL program makes loans available to borrowers through private lenders and guaranty agencies. Both programs offer the same loan programs: Stafford Subsidized, Stafford Unsubsidized, PLUS, and Consolidation loans.

To view the following table in an accessible format please go to http://www.ed.gov/finaid/prof/resources/data/fslpdata97-01/table2.xls.
These files are in Microsoft Excel format. If you do not have Excel, you can access the files by downloading the free Excel viewer at: http://office.microsoft.com/downloads/2000/xlviewer.aspx.

	FY94	*FY95	*FY96	FY97	FY98	FY99	FY00	Cumulative
Table 2. - Federal Direct Loan Program (FDLP) cash flow as of September 30th: FY 1994-FY 2000
($ 000's)
Loan volume commitments
Number of loans (in 000's)	210	1,290	2,616	2,998	3,078	2,957	3,066	16,216
Dollar amount	$915,024	$5,101,843	$9,371,572	$10,917,748	$11,125,252	$10,703,352	$11,833,438	$59,968,230
Costs+
Interest paid to Treasury	29,450	383,169	749,943	1,732,873	2,320,155	3,616,378	4,465,364	$13,297,332
Payment of origination fees to institutions	-	13,928	13,345	6,966	14,042	29,195	54,262	$131,738
Inflows
Collections
Principal
Regular	$34	$29,397	$211,480	$643,325	$1,718,290	$5,512,905	$4,329,019	$12,444,450
Defaulted	-	-	70	515	9,470	50,461	122,267	$182,782
Interest
Regular	-	$14,498	$114,768	$305,956	$605,530	$1,058,939	$1,453,886	$3,553,577
Defaulted	-	-	22	357	4,970	18,882	45,787	$70,018
Origination fees	$15,266	$81,105	$317,758	$371,860	$389,288	$392,401	$348,224	$1,915,902
Other fees
Regular	-	-	-	-	-	-	-	-
Defaulted	-	-	$14	$65	$1,016	$6,670	$16,100	$23,865
- Not applicable. * The cost data for FY95 and FY96 have been revised from previously published figures. + Cost and collection data are from the financial statements and include Consolidations. NOTES: The FDLP became operational in July 1994, consequently, the FY94 FDLP data include only one fiscal quarter of activity. During the first year of operation, FDLP loans were restricted to a small number of institutions. SOURCE: U.S. Department of Education, Office of Postsecondary Education, Direct Loan/Loan Origination System.

Federal Student Loan Programs Data Book - FY 1997-FY 2000
Part I FFEL Program and FDLP Summary Information	CONTENTS < BACK NEXT >