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Appropriations
Fiscal Year 2008 -$6,712,511,000
Fiscal Year 2008 -$652,462,000
Fiscal Year 2007 $264,613,000
Fiscal Year 2006 $1,806,576,000
Fiscal Year 2005 $1,071,040,000
Note: The appropriations amounts listed provide the federal subsidy costs associated with new Direct Loans each fiscal year. It is the volume of loans made, however, that is often more relevant to those seeking student aid. Loan volume, including Direct Consolidation loans, was $16.5 billion in FY 2007, $46.4 billion in FY 2008, and is estimated to be $38.3 billion in FY 2009.
The Direct Loan Program costs are 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. In FY 2008 and FY 2009, the Direct Loan Program reflects a total negative subsidy due in part to reduced discount rates that lower the federal government’s borrowing costs, while borrower repayments contribute to increased cash flows as collections to the federal government, helping to offset federal costs.
Awards Information
2009
Amount of Aid Available: $38,267,148,000 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 :
Loans Anticipated | ||||
| Direct Stafford | $8,463,896,000 | 2,047,000 | $4,134 | Up to $8,500 |
| Direct Unsubsidized Stafford | $9,596,055,000 | 2,150,000 | $4,464 | Up to $20,500 |
| Direct PLUS | $3,775,715,000 | 339,000 | $11,122 | Cost of attendance less other aid. |
| Direct Consolidation | $16,431,482,000 | 470,000 | $34,980 | n/a |
2008
Amount of Aid Available: $18,220,000,000 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 :
Loans Anticipated | ||||
| Direct Stafford | $6,248,000,000 | 1,526,000 | $4,093 | Up to $8,500 |
| Direct Unsubsidized Stafford | $5,307,000,000 | 1,086,000 | $4,887 | Up to $20,500 |
| Direct PLUS | $2,549,000,000 | 245,000 | $10,410 | Cost of attendance less other aid. |
| Direct Consolidation | $4,116,000,000 | 176,000 | $23,396 | n/a |
2007
Amount of Aid Available: $18,062,000,000
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 :
Loans Anticipated | ||||
| Direct Stafford | $5,944,000,000 | 1,503,000 | $3,954 | Up to $8,500 |
| Direct Unsubsidized Stafford | $5,159,000,000 | 1,094,000 | $4,715 | Up to $18,500 |
| Direct PLUS | $2,493,000,000 | 242,000 | $10,300 | Cost of attendance less other aid. |
| Direct Consolidation | $4,466,000,000 | 200,000 | $22,292 | n/a |
Note: The Department is not bound by any estimates in this notice.
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