Federal Student Loan Programs Data Book

Federal Student Loan Programs Data Book - FY 1997-FY 2000
Part III Dollars Outstanding and Guaranty Agency Characteristics	CONTENTS < BACK NEXT >

Table 47a.
Federal Family Education Loan (FFEL) program cumulative cash reserves and reserve ratio, by guaranty agency: As of September 30, 1997 and September 30, 1998

This table shows the cumulative cash reserves and the corresponding reserve ratio for 36 guaranty agencies for FY 1997 and FY 1998. The formulas used to calculate these numbers are also provided.

Between September 30, 1997 and September 30, 1998, the FFEL program cumulative total cash reserves increased 5.1 percent, rising from $2.1 to $2.2 billion. The reserve ratio remained at 1.5 during this period.

The United Student Aid Funds, Inc. (USAF) reported the largest cumulative cash reserves for both FY 1997 and FY 1998 ($492.3 and $526.0 million, respectively). In contrast, New Mexico reported the smallest cumulative cash reserves ($4.9 million each year).

North Carolina reported the largest reserve ratio for both FY 1997 (3.4) and FY 1998 (2.8). ECMC reported the smallest reserve ratio in FY 1997 (0.0) and FY 1998 (0.1).

Between FY 1997 and FY 1998, the reserve ratio decreased at 20 guaranty agencies, increased at 10 guaranty agencies, and remained the same at six guaranty agencies.

NOTES: Cumulative cash reserves are calculated by subtracting an agency's cumulative use of funds to pay for claims, operating expenses, and lender fees, among others, from that agency's cumulative sources of funds from insurance premiums, state appropriations, and federal advances, among others. Complete lists of both sources and use of funds are listed in table 47a under the "Formulas" column.

To view the following table in an accessible format please go to http://www.ed.gov/finaid/prof/resources/data/fslpdata97-01/table47a.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.

Guaranty agency	Cumulative Cash Reserves ($ in 000's)		Reserve Ratio
Table 47a. - Federal Family Education Loan (FFEL) program cumulative cash reserves and reserve ratio, by guaranty agency: As of September 30, 1997 and September 30, 1998
Guaranty agency	As of Sept. 30, 1997	As of Sept. 30, 1998	As of Sept. 30, 1997	As of Sept. 30, 1998
Arkansas	$7,915	$7,499	1.0	0.9	Formulas Cumulative cash reserves = Agency's cumulative sources of funds from: 1. Insurance premiums 2. State appropriations 3. Federal advances 4. Federal reinsurance payments 5. Administrative cost allowances 6. Collections on claims paid 7. Investment earnings 8. Other non-federal sources Minus Agency's cumulative uses of funds to pay: 1. Claims to lenders 2. Operating expenses 3. Lender fees 4. Department of Education's share of collections on claims paid 5. Federal advances 6. Reinsurance fees 7. Other uses Reserve ratio = Cash reserves Divided by Original principal of outstanding loans Original principal of outstanding loans = Original principal of loans guaranteed (-) Original principal of loans cancelled (-) Original principal of claims paid (-) Original principal of loans paid in full (+) Original principal of loans guarantees transferred from other agencies (-) Original principal of loans guarantees transferred to other agencies (-) Secretary's plan of original principal of loan guarantees transferred from other agencies
California	278,701	243,708	2.5	2.2
Colorado	41,467	45,592	2.0	2.1
Connecticut	19,152	20,271	1.3	1.3
ECMC	18,688	49,002	0.0	0.1
Florida	86,779	93,847	2.8	2.7
Georgia	15,147	17,332	1.0	1.1
Illinois	72,196	80,433	1.4	1.6
Iowa	49,641	47,169	2.6	2.5
Kentucky	34,924	30,228	1.8	1.5
Louisiana	13,336	12,148	1.3	1.1
Maine	13,706	13,348	1.9	1.6
Massachusetts	39,292	39,016	0.7	0.6
Michigan	59,042	62,617	2.3	2.4
Missouri	52,644	45,847	3.0	2.6
Montana	6,194	8,395	1.1	1.3
Nebraska	18,993	22,929	1.9	1.9
New Hampshire	5,092	7,965	0.6	0.8
New Jersey	38,661	35,144	1.4	1.3
New Mexico	4,891	4,942	0.9	0.9
New York	131,136	130,371	1.2	1.1
North Carolina	36,073	31,510	3.4	2.8
North Dakota	12,963	11,107	2.6	2.1
Oklahoma	14,011	18,126	0.8	1.0
Oregon	17,441	16,032	2.1	1.9
Pennsylvania	189,346	190,650	1.4	1.3
Rhode Island	7,579	6,328	1.0	0.8
South Carolina	14,804	17,577	1.3	1.3
South Dakota	12,813	12,714	1.8	1.5
Tennessee	35,960	36,396	1.9	1.9
Texas	117,580	149,529	1.6	1.8
USAF	492,266	526,008	1.5	1.4
Utah	23,812	25,040	2.2	2.1
Vermont	5,681	5,952	1.0	0.9
Washington	21,583	27,064	1.0	1.1
Wisconsin	81,625	105,298	0.7	0.7
Total	$2,091,135	$2,197,134	1.5	1.5
NOTES: Details may not add to totals due to rounding. Calculations are based on numbers before rounding. SOURCE: U.S. Department of Education, Office of Postsecondary Education, ED Form 1130.

Part III Dollars Outstanding and Guaranty Agency Characteristics	CONTENTS < BACK NEXT >
Federal Student Loan Programs Data Book - FY 1997-FY 2000