Federal Family Education Loan (FFEL) Program

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Funding Status

Appropriations

Fiscal Year 2011 $0
Fiscal Year 2010 $0
Fiscal Year 2009 $-1,219,833,315
Fiscal Year 2008 -$4,463,634,000
Fiscal Year 2007 $6,850,098,000
Fiscal Year 2006 $17,273,789
Fiscal Year 2005 $11,129,929,000

Note: The appropriation amounts listed provided the federal subsidy costs that were associated with new FFEL guaranteed program loans for fiscal years as shown; however, typically it is the volume of loans made that is more relevant to those seeking student aid. FFEL loan volume (aid available), including Federal Consolidation Loans, was $19.7 billion in FY 2009, $0 in FY 2010, and $0 in FY 2011. These amounts include programs authorized under the Ensuring Continued Access to Student Loan Act of 2008.

The FFEL Program costs were estimated consistent with the Federal Credit Reform Act of 1990. A negative subsidy occurs when the present value of cash inflows to the government is estimated to exceed the present value of the outflows. For FY 2009 and FY 2010, the FFEL Program reflects a total negative subsidy because net revenues, primarily from borrower and lender fees, exceed program costs.


Awards Information

2010

Amount of Aid Available: $35,418,365
Amount of Aid Available represents the amount of funds awarded to participants in this program.

Loan Type
Amount of Aid Available
Number of New
Loans Anticipated
Average Award
Award Range
Stafford
$13.4 billion
3,827,000
$3,508
Up to $8,500
Unsubsidized Stafford
$18.1 billion
4,035,000
$4,481
Up to $20,500
Federal PLUS
$3.7 billion
353,000
$10,548
Cost of attendance
less other aid.
Federal Consolidation
$185 million
5,000
$40,448
n/a

2009

Amount of Aid Available: $64,987,000,000
Amount of Aid Available represents the amount of funds awarded to participants in the Federal Student Aid programs. Depending upon the program, this total may include federal appropriated dollars, institutional or state matching dollars, and federal or private loan capital.

Number of New Awards Anticipated: 14,196,000

Loan Type
Amount of Aid Available
Number of New
Loans Anticipated
Average Award
Award Range
Stafford
$23,900,000,000
6,279,000
$3,804
Up to $8,500
Unsubsidized Stafford
$31,400,000,000
7,189,000
$4,367
Up to $20,500
Federal PLUS
$8,700,000,000
718,000
$12,129
Cost of attendance
less other aid.
Federal Consolidation
$1,000,000,000
10,000
$97,348
n/a

2008

Amount of Aid Available: $56,242,000,000
Amount of Aid Available represents the amount of funds awarded to participants in the Federal Student Aid programs. Depending upon the program, this total may include federal appropriated dollars, institutional or state matching dollars, and federal or private loan capital.

Number of New Awards Anticipated:

Loan Type
Amount of Aid Available
Number of New
Loans Anticipated
Average Award
Award Range
Stafford
$24,050,000,000
6,458,000
$3,724
Up to $8,500
Unsubsidized Stafford
$23,384,000,000
4,988,000
$4,688
Up to $20,500
Federal PLUS
$8,808,000,000
790,000
$11,552
Cost of attendance
less other aid.
Federal Consolidation
$33,940,000,000
1,144,000
$29,667
n/a

2007

Amount of Aid Available: $79,255,000,000
Amount of Aid Available represents the amount of funds awarded to participants in the Federal Student Aid programs. Depending upon the program, this total may include federal appropriated dollars, institutional or state matching dollars, and federal or private loan capital.

Number of New Awards Anticipated:

Loan Type
Amount of Aid Available
Number of New
Loans Anticipated
Average Award
Award Range
Stafford
$21,410,000,000
5,913,000
$3,621
Up to $8,500
Unsubsidized Stafford
$21,785,000,000
4,786,000
$4,552
Up to $18,500
PLUS
$9,208,000,000
797,000
$11,557
Cost of attendance
less other aid.
Consolidation
$26,853,000,000
992,000
$27,075
n/a

Note: The Department is not bound by any estimates in this notice.


 
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Last Modified: 11/21/2011