Federal Student Loan Programs Data Book

Federal Student Loan Programs Data Book - FY 1997-FY 2000
Part IV FFEL Program and FDLP Defaults and Collections	CONTENTS < BACK NEXT >

Table 50.
Federal Direct Loan Program (FDLP) annual and cumulative default dollars and collections: FY 1996-FY 2000

This table provides a summary of annual defaults and collections for FDLP loans. Because the FDLP was initiated in FY 1994, defaults and collections data begin in FY 1996.

As the FDLP program has grown, so too has the amount of dollars in default and collections. For example, from FY 1998 to FY 2000, the amount of dollars in default increased from $210.1 million to $613.4 million, an increase of 192 percent. During this time, annual collection dollars experienced more than a tenfold increase from $15.5 million to $184.2 million.

To view the following table in an accessible format please go to http://www.ed.gov/finaid/prof/resources/data/fslpdata97-01/table50.xls.
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Fiscal year	Annual dollars defaulted	Cumulative dollars defaulted	Annual dollars collected	Cumulative default dollars collected
Table 50. - Federal Direct Loan Program (FDLP) annual and cumulative default dollars and collections: FY 1995-FY 2000
$ in 000,000's
1995	-	-	-	-
1996	$2.2	$2.2	$0.1	$0.1
1997	$83.0	$85.2	$0.9	$1.0
1998	$210.1	$295.3	$15.5	$16.5
19991	$472.7	$767.9	$76.0	$92.5
20001	$613.4	$1,381.4	$184.2	$276.7
- Not applicable. ¹As a result of the Higher Education Amendments of 1998, effective October 7, 1998, the definition of default changed from 180 days of delinquency to 270 days of delinquency. NOTES: Includes Consolidation loans. FDLP loan data in FY94 only include one-quarter of that fiscal year, and FDLP loans were restricted to a small number ofinstitutions. SOURCE: U.S. Department of Education, Office of Postsecondary Education, Direct Loan/Loan Origination System.

Part IV FFEL Program and FDLP Defaults and Collections	CONTENTS < BACK NEXT >
Federal Student Loan Programs Data Book - FY 1997-FY 2000