Facts about the Department
- The Department of Education (ED) is the smallest federal department, with less than 5,000 staff. Our full-time equivalent (FTE) staffing ceiling in FY 1997 is 4,613.
- The number of programs administered in FY 1997 was 197.
- We provided or oversaw $67.6 billion in aid to education in FY 1997. This figure includes program funding, new student loans, and federal administration. It breaks down as follows:
- Congressional appropriations for program activities: $32.0 billion. These funds are used for grants to state and local agencies, higher education institutions, and other entities; contracts; and subsidies for direct and guaranteed student loans.
- New student loans: $34.7 billion. Postsecondary education student loans are made by ED or guaranteed by ED and issued by banks and other financial institutions.
- Federal administration: $807.7 million. Department of Education salaries and expenses totaled 1.2% of the FY 1997 dollars for aid to education.
- We are responsible for a portfolio of outstanding student loans that totaled about $131 billion in FY 1997.
- Federal funds from all federal agencies represent a small but important proportion of K-12 education funding and postsecondary general institutional funding, but provide or guarantee a very large share of student financial aid. In 1994-95, federal education funds represented-
- 8.7% of all education funding (public and private).
- 6.3% of K-12 funding (public and private).
- 12.3% of funding for postsecondary institutions (excluding student financial aid).
- 74.7% of all student financial aid awarded to postsecondary students.