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| Federal Student Loan Programs Data Book - FY 1997-FY 2000
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| Part III Dollars Outstanding and Guaranty Agency Characteristics | CONTENTS < BACK NEXT > |
Table 47b.
Federal Family Education Loan (FFEL) program federal, operating, and restricted funds, by guaranty agency: As of September 30, 1999 and September 30, 2000
This table presents federal, operating, and restricted funds for 36 agencies for FY 1999 and FY 2000. As part of the Higher Education Amendments of 1998, the federal government provided seed money for guaranty agencies to establish operating funds that cover administrative expenses such as loan-application processing, default-prevention and collection activities, and compliance monitoring. Seed money was provided through a guaranty agency's Federal Student Loan Reserve Fund. Between FY 1999 and FY 2001, guaranty agencies could transfer up to 45 percent of their reserve funds to their operating fund. Guaranty agencies are to invest these funds and return the seed money to the Federal Reserve Fund within four years of establishing their operating fund.
As of September 30, 1999, guaranty agencies had more than $2.5 billion in their federal, operating, and restricted funds. Federal funds accounted for nearly three-quarters of this total, while operating funds and restricted funds accounted for 11 and 16 percent, respectively. By September 30, 2000, the total amount in the federal, operating, and restricted funds increased to $2.8 billion. However, federal funds declined to 62 percent of the total amount, while the operating and restricted funds grew to 16 and 22 percent, respectively.
In FY 1999, Rhode Island and Nebraska had more than one-third of their finances in operating funds. In sharp contrast, Connecticut and ECMC did not have any funds in operating accounts, and six other guaranty agencies (California, Maine, Kentucky, Colorado, Arkansas, and Pennsylvania) had five percent of their funds or less in these accounts.
In FY 2000, Rhode Island and Nebraska increased the percentage of their finances in operating funds to 39 and 43 percent, respectively. In addition, Texas, Oklahoma, South Carolina, and New York had a quarter of their finances or more in operating funds. Only two guaranty agencies (Connecticut and Pennsylvania) had five percent of their funds or less in operating accounts.
To view the following table in an accessible format please go to http://www.ed.gov/finaid/prof/resources/data/fslpdata97-01/table47b.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.
| Table 47b. - Federal Family Education Loan (FFEL) program federal, operating, and restricted funds, by guaranty agency: As of September 30, 1999 and September 30, 2000 |
||||||
| FY99 |
||||||
| Guaranty agency |
Federal Fund |
% |
Operating Fund |
% |
Restricted Fund |
% |
|---|---|---|---|---|---|---|
| Arkansas |
$5,725,349 |
86 |
$172,312 |
3 |
$723,817 |
11 |
| California |
199,813,016 |
70 |
14,754,912 |
5 |
70,082,116 |
25 |
| Colorado |
31,849,073 |
75 |
1,466,619 |
3 |
9,307,212 |
22 |
| Connecticut |
9,127,222 |
85 |
- |
|
1,647,213 |
15 |
| ECMC |
91,126,785 |
100 |
- |
|
- |
|
| Florida |
70,278,370 |
72 |
5,720,681 |
6 |
20,985,827 |
22 |
| Georgia |
17,912,525 |
81 |
3,089,065 |
14 |
1,161,140 |
5 |
| Illinois |
82,121,305 |
84 |
10,413,919 |
11 |
5,076,358 |
5 |
| Iowa |
42,050,544 |
69 |
7,033,082 |
12 |
12,060,667 |
20 |
| Kentucky |
33,485,741 |
82 |
1,555,166 |
4 |
5,860,888 |
14 |
| Louisiana |
12,614,338 |
68 |
3,628,186 |
19 |
2,396,575 |
13 |
| Maine |
11,310,791 |
75 |
588,632 |
4 |
3,116,980 |
21 |
| Massachusetts |
44,020,276 |
81 |
5,851,282 |
11 |
4,411,289 |
8 |
| Michigan |
54,222,651 |
67 |
13,853,270 |
17 |
13,314,049 |
16 |
| Missouri |
43,095,315 |
69 |
4,905,381 |
8 |
14,086,819 |
23 |
| Montana |
8,211,036 |
68 |
1,653,700 |
14 |
2,277,361 |
19 |
| Nebraska |
27,314,298 |
66 |
13,802,137 |
34 |
- |
|
| New Hampshire |
7,757,670 |
84 |
965,357 |
10 |
500,968 |
5 |
| New Jersey |
40,005,346 |
72 |
6,602,880 |
12 |
8,963,634 |
16 |
| New Mexico |
4,955,982 |
73 |
493,784 |
7 |
1,298,198 |
19 |
| New York |
141,225,962 |
73 |
33,284,770 |
17 |
19,959,928 |
10 |
| North Carolina |
26,919,287 |
66 |
2,272,786 |
6 |
11,389,481 |
28 |
| North Dakota |
10,638,452 |
68 |
2,020,308 |
13 |
3,054,650 |
19 |
| Oklahoma |
17,283,001 |
67 |
7,308,694 |
28 |
1,107,325 |
4 |
| Oregon |
13,153,207 |
62 |
3,776,283 |
18 |
4,324,337 |
20 |
| Pennsylvania |
171,586,843 |
77 |
2,577,270 |
1 |
49,408,042 |
22 |
| Rhode Island |
13,189,307 |
57 |
8,260,538 |
35 |
1,877,862 |
8 |
| South Carolina |
18,802,201 |
74 |
3,734,683 |
15 |
2,815,749 |
11 |
| South Dakota |
13,522,756 |
73 |
2,411,139 |
13 |
2,488,899 |
14 |
| Tennessee |
41,778,219 |
72 |
5,736,312 |
10 |
10,555,044 |
18 |
| Texas |
69,658,122 |
71 |
20,368,314 |
21 |
7,756,974 |
8 |
| USAF |
325,231,518 |
68 |
70,242,533 |
15 |
79,394,073 |
17 |
| Utah |
18,651,496 |
64 |
4,354,339 |
15 |
6,002,317 |
21 |
| Vermont |
6,054,085 |
76 |
1,080,248 |
13 |
876,530 |
11 |
| Washington |
26,443,757 |
77 |
2,673,987 |
8 |
5,357,142 |
16 |
| Wisconsin |
80,973,301 |
84 |
8,941,256 |
9 |
6,641,076 |
7 |
| Total |
$1,832,109,147 |
73 |
$275,593,825 |
11 |
$390,280,540 |
16 |
| FY00 |
||||||
| Guaranty agency |
Federal Fund |
% |
Operating Fund |
% |
Restricted Fund |
% |
|---|---|---|---|---|---|---|
| Arkansas |
$4,887,557 |
72 |
$454,386 |
7 |
$1,447,634 |
21 |
| California |
164,449,712 |
56 |
20,987,971 |
7 |
107,507,125 |
37 |
| Colorado |
25,749,802 |
58 |
4,491,603 |
10 |
13,960,818 |
32 |
| Connecticut |
6,566,761 |
65 |
194,997 |
2 |
3,404,209 |
33 |
| ECMC |
125,004,435 |
94 |
8,234,197 |
6 |
- |
|
| Florida |
57,532,061 |
58 |
10,105,368 |
10 |
32,162,471 |
32 |
| Georgia |
18,615,693 |
79 |
2,615,001 |
11 |
2,412,008 |
10 |
| Illinois |
83,531,133 |
76 |
15,299,216 |
14 |
10,546,473 |
10 |
| Iowa |
36,649,041 |
57 |
9,328,202 |
15 |
18,091,000 |
28 |
| Kentucky |
28,869,977 |
71 |
2,426,514 |
6 |
9,094,425 |
23 |
| Louisiana |
13,222,595 |
63 |
3,923,624 |
19 |
3,823,444 |
18 |
| Maine |
11,005,122 |
65 |
1,048,349 |
6 |
4,829,391 |
29 |
| Massachusetts |
34,739,580 |
64 |
9,264,739 |
17 |
10,441,325 |
19 |
| Michigan |
48,126,318 |
54 |
19,888,476 |
22 |
20,392,460 |
23 |
| Missouri |
36,424,192 |
58 |
5,574,342 |
9 |
21,143,415 |
33 |
| Montana |
7,546,836 |
57 |
2,117,176 |
16 |
3,582,768 |
27 |
| Nebraska |
26,939,711 |
57 |
20,508,097 |
43 |
- |
|
| New Hampshire |
7,051,003 |
81 |
637,489 |
7 |
1,036,182 |
12 |
| New Jersey |
35,375,577 |
59 |
10,927,028 |
18 |
13,891,346 |
23 |
| New Mexico |
4,122,656 |
56 |
1,182,942 |
16 |
2,016,056 |
28 |
| New York |
127,032,167 |
60 |
53,727,095 |
25 |
30,324,752 |
14 |
| North Carolina |
23,244,657 |
54 |
3,150,213 |
7 |
16,853,656 |
39 |
| North Dakota |
9,170,987 |
58 |
1,729,268 |
11 |
4,802,409 |
31 |
| Oklahoma |
17,444,850 |
64 |
7,537,271 |
28 |
2,164,474 |
8 |
| Oregon |
10,852,130 |
51 |
3,983,143 |
19 |
6,605,051 |
31 |
| Pennsylvania |
166,985,417 |
65 |
13,379,038 |
5 |
76,036,321 |
30 |
| Rhode Island |
13,018,840 |
50 |
9,986,650 |
39 |
2,852,982 |
11 |
| South Carolina |
16,583,123 |
58 |
7,810,348 |
27 |
4,181,792 |
15 |
| South Dakota |
11,159,901 |
58 |
4,204,244 |
22 |
3,967,620 |
21 |
| Tennessee |
33,948,839 |
57 |
10,167,978 |
17 |
15,908,087 |
27 |
| Texas |
55,298,922 |
49 |
42,037,754 |
37 |
15,139,532 |
13 |
| USAF |
324,177,591 |
59 |
103,288,323 |
19 |
126,584,383 |
23 |
| Utah |
18,249,638 |
55 |
5,364,632 |
16 |
9,347,010 |
28 |
| Vermont |
6,361,229 |
70 |
1,391,768 |
15 |
1,367,441 |
15 |
| Washington |
24,388,986 |
67 |
3,907,305 |
11 |
8,018,706 |
22 |
| Wisconsin |
83,600,239 |
71 |
24,261,536 |
21 |
9,902,173 |
8 |
| Total |
$1,717,927,278 |
62 |
$445,136,283 |
16 |
$613,838,939 |
22 |
| - Not applicable. |
||||||
| Part III Dollars Outstanding and Guaranty Agency Characteristics | CONTENTS < BACK NEXT > |
| Federal Student Loan Programs Data Book - FY 1997-FY 2000 |
|