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| Federal Student Loan Programs Data Book - FY 1997-FY 2000
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| Part IV FFEL Program and FDLP Defaults and Collections | CONTENTS < BACK NEXT > |
Tables 59-64.
Federal Family Education Loan (FFEL) program collections on defaulted loans for Stafford Subsidized, Stafford Unsubsidized, Parent Loans for Undergraduate Students (PLUS), Supplemental Loan for Students (SLS), and Consolidation loans, by guaranty agency: FY 1997-FY 2000
Collections are repayments on defaulted loans. Once the guaranty agency pays off a default claim, the lender transfers the account to that guaranty agency. The guaranty agency is then responsible for seeking out the borrower and collecting on the defaulted loan(s). If the guaranty agency is unable to collect from the borrower, it may turn the account over to the Department of Education. In FY 1993, it became mandatory that all accounts that have had no collection activity within the last three years be assigned to the Department of Education for collection; these funds are referred to as "mandatory assignments."
Table 64 presents collections on defaulted loans, by guaranty agency in FY 1997-FY 2000. The information is presented for each FFEL program (Stafford Subsidized, Stafford Unsubsidized PLUS, SLS and Consolidation) in tables 59-63, respectively. All tables report the percent change, percent share of total, and guaranty agency rank.
FFEL program collections on defaulted loans increased by 39.1 percent from FY 1997 to FY 1998 collections increased 17.3 and 35.1 percent in FY 1999 and FY 2000, respectively. Each of the individual loan programs also experienced annual increases over the period (see table H for a summary of collection volume and percent change from prior year).
To view the following table in an accessible format please go to http://www.ed.gov/finaid/prof/resources/data/fslpdata97-01/tables59to64.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.
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Table H. Total dollar volume and percent change of program collections on defaulted dollars, by loan program: FY 1997-FY 2000 (subset of tables 59-64) |
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| ($ in 000's) |
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|
|
FY97 |
FY98 |
FY99 |
FY00 |
|---|---|---|---|---|
| Stafford Subsidized |
$1,073,148 |
$1,479,200 |
$1,562,817 |
$2,057,255 |
| Change from prior year |
- |
37.80% |
5.70% |
31.60% |
| Stafford Unsubsidized |
$21,162 |
$64,908 |
$140,578 |
$236,471 |
| Change from prior year |
- |
206.70% |
116.60% |
68.20% |
| PLUS |
$85,529 |
$130,529 |
$142,766 |
$191,448 |
| Change from prior year |
- |
52.60% |
9.40% |
34.10% |
| SLS |
$172,589 |
$180,534 |
$198,045 |
$212,473 |
| Change from prior year |
- |
4.60% |
9.70% |
7.30% |
| Consolidation |
$91,595 |
$153,397 |
$310,948 |
$484,542 |
| Change from prior year |
- |
67.50% |
102.70% |
55.80% |
| FFEL program total |
$144,022 |
$2,008,568 |
$2,355,154 |
$3,182,189 |
| Change from prior year |
- |
39.10% |
17.30% |
35.10% |
| - Not applicable. |
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The Stafford Unsubsidized loan program, initiated in FY 1993, experienced the largest percentage growth, with increases of 206.7 percent from FY 1997 to FY 1998, 116.6 percent from FY 1998 to FY 1999, and 68.2 percent from FY 1999 to FY 2000 (see table H).
In FY 1997-FY 2000, USAF collections on defaults represented the largest portion of FFEL program collection activity. After falling from 26.1 percent of total collections in FY 1997 to 21.9 percent in FY 1998, USAF's share increased to 27.5 percent in FY 1999 and 31.7 percent in FY 2000 (see table 64).
In FY 1999 and FY 2000, the three guaranty agencies other than USAF collecting the largest proportions of FFEL defaulted loans were California, New York, and Texas. These three agencies accounted for approximately 27 percent of FFEL program collection activity each of the two years (see table 64).
Only Wisconsin collected fewer defaulted dollars in FY 2000 than in FY 1997. All other guaranty agencies collected more defaulted loan dollars in FY 2000 than in FY 1997 (see table 64).
The rank of ECMC fell each year from 17 in FY 1997, to 15 in FY 1998, to 10 in FY 1999, and to 9 in FY 2000. The rank of Florida increased each year from 13 in FY 1997, to 17 in FY 1998, to 19 in FY 1999, and to 23 in FY 2000. Although the other agencies changed rank as well, they did not show such a consistent pattern over the period (see table 64).
| Table 59. - Federal Family Education Loan (FFEL) program collections on defaulted loans for Stafford Subsidized loans, by guaranty agency: FY 1997-FY 2000 |
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|
Guaranty agency |
Collections on defaulted loans (000's) |
Percent change from: |
Percent share of total |
Rank |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FY97 |
FY98 |
FY991 |
FY001 |
FY97-FY98 |
FY98-FY99 |
FY99-FY00 |
FY97 |
FY98 |
FY991 |
FY001 |
FY97 |
FY98 |
FY991 |
FY001 |
|
| Arkansas |
3,902 |
5,119 |
7,994 |
11,743 |
31.2 |
56.2 |
46.9 |
0.4 |
0.3 |
0.5 |
0.6 |
28 |
30 |
27 |
24 |
| California |
94,955 |
109,754 |
193,289 |
231,911 |
15.6 |
76.1 |
20.0 |
8.8 |
7.4 |
12.4 |
11.3 |
4 |
4 |
2 |
3 |
| Colorado |
10,310 |
32,405 |
19,065 |
15,187 |
214.3 |
-41.2 |
-20.3 |
1.0 |
2.2 |
1.2 |
0.7 |
21 |
12 |
17 |
23 |
| Connecticut |
22,069 |
25,537 |
19,240 |
25,541 |
15.7 |
-24.7 |
32.8 |
2.1 |
1.7 |
1.2 |
1.2 |
11 |
18 |
15 |
17 |
| ECMC |
12,240 |
26,884 |
42,529 |
62,987 |
119.6 |
58.2 |
48.1 |
1.1 |
1.8 |
2.7 |
3.1 |
18 |
16 |
9 |
9 |
| Florida |
14,956 |
25,942 |
18,535 |
16,133 |
73.5 |
-28.6 |
-13.0 |
1.4 |
1.8 |
1.2 |
0.8 |
13 |
17 |
18 |
22 |
| Georgia |
7,769 |
21,183 |
12,054 |
23,568 |
172.6 |
-43.1 |
95.5 |
0.7 |
1.4 |
0.8 |
1.1 |
23 |
19 |
23 |
18 |
| Illinois |
48,747 |
69,903 |
96,406 |
112,204 |
43.4 |
37.9 |
16.4 |
4.5 |
4.7 |
6.2 |
5.5 |
7 |
7 |
5 |
5 |
| Iowa |
12,907 |
14,354 |
12,103 |
27,655 |
11.2 |
-15.7 |
128.5 |
1.2 |
1.0 |
0.8 |
1.3 |
16 |
22 |
22 |
14 |
| Kentucky |
13,235 |
14,481 |
19,223 |
29,961 |
9.4 |
32.7 |
55.9 |
1.2 |
1.0 |
1.2 |
1.5 |
15 |
21 |
16 |
13 |
| Louisiana |
10,009 |
12,805 |
18,288 |
17,947 |
27.9 |
42.8 |
-1.9 |
0.9 |
0.9 |
1.2 |
0.9 |
22 |
24 |
19 |
21 |
| Maine |
3,122 |
3,927 |
5,545 |
9,152 |
25.8 |
41.2 |
65.0 |
0.3 |
0.3 |
0.4 |
0.4 |
30 |
32 |
30 |
27 |
| Massachusetts |
35,470 |
85,145 |
79,937 |
84,614 |
140.0 |
-6.1 |
5.9 |
3.3 |
5.8 |
5.1 |
4.1 |
8 |
6 |
7 |
7 |
| Michigan |
21,605 |
28,963 |
25,265 |
62,362 |
34.1 |
-12.8 |
146.8 |
2.0 |
2.0 |
1.6 |
3.0 |
12 |
14 |
14 |
10 |
| Missouri |
11,341 |
45,360 |
26,403 |
27,292 |
300.0 |
-41.8 |
3.4 |
1.1 |
3.1 |
1.7 |
1.3 |
20 |
10 |
13 |
15 |
| Montana |
2,647 |
5,677 |
7,562 |
8,678 |
114.4 |
33.2 |
14.8 |
0.2 |
0.4 |
0.5 |
0.4 |
33 |
29 |
28 |
28 |
| Nebraska |
23,534 |
33,348 |
33,441 |
33,720 |
41.7 |
0.3 |
0.8 |
2.2 |
2.3 |
2.1 |
1.6 |
10 |
11 |
11 |
12 |
| New Hampshire |
4,134 |
6,138 |
5,669 |
4,282 |
48.5 |
-7.6 |
-24.5 |
0.4 |
0.4 |
0.4 |
0.2 |
27 |
27 |
29 |
34 |
| New Jersey |
30,128 |
51,411 |
41,040 |
37,807 |
70.6 |
-20.2 |
-7.9 |
2.8 |
3.5 |
2.6 |
1.8 |
9 |
9 |
10 |
11 |
| New Mexico |
2,934 |
3,359 |
5,219 |
6,171 |
14.5 |
55.4 |
18.3 |
0.3 |
0.2 |
0.3 |
0.3 |
31 |
34 |
32 |
30 |
| New York |
138,906 |
162,700 |
168,148 |
153,765 |
17.1 |
3.3 |
-8.6 |
12.9 |
11.0 |
10.8 |
7.5 |
2 |
2 |
3 |
4 |
| North Carolina |
3,387 |
3,448 |
4,487 |
6,082 |
1.8 |
30.1 |
35.5 |
0.3 |
0.2 |
0.3 |
0.3 |
29 |
33 |
34 |
31 |
| North Dakota |
2,107 |
4,752 |
3,443 |
4,689 |
125.6 |
-27.6 |
36.2 |
0.2 |
0.3 |
0.2 |
0.2 |
34 |
31 |
35 |
33 |
| Oklahoma |
12,132 |
17,362 |
18,062 |
22,782 |
43.1 |
4.0 |
26.1 |
1.1 |
1.2 |
1.2 |
1.1 |
19 |
20 |
20 |
19 |
| Oregon |
6,988 |
13,015 |
9,453 |
10,072 |
86.2 |
-27.4 |
6.6 |
0.7 |
0.9 |
0.6 |
0.5 |
24 |
23 |
24 |
26 |
| Pennsylvania |
60,658 |
144,871 |
84,336 |
105,360 |
138.8 |
-41.8 |
24.9 |
5.7 |
9.8 |
5.4 |
5.1 |
6 |
3 |
6 |
6 |
| Rhode Island |
4,448 |
6,954 |
8,869 |
11,712 |
56.3 |
27.5 |
32.1 |
0.4 |
0.5 |
0.6 |
0.6 |
26 |
26 |
25 |
25 |
| South Carolina |
2,784 |
2,482 |
3,378 |
3,778 |
-10.8 |
36.1 |
11.9 |
0.3 |
0.2 |
0.2 |
0.2 |
32 |
35 |
36 |
36 |
| South Dakota |
1,982 |
5,868 |
4,563 |
6,045 |
196.0 |
-22.2 |
32.5 |
0.2 |
0.4 |
0.3 |
0.3 |
35 |
28 |
33 |
32 |
| Tennessee |
12,607 |
31,491 |
27,254 |
26,979 |
149.8 |
-13.5 |
-1.0 |
1.2 |
2.1 |
1.7 |
1.3 |
17 |
13 |
12 |
16 |
| Texas |
111,514 |
106,406 |
117,255 |
270,748 |
-4.6 |
10.2 |
130.9 |
10.4 |
7.2 |
7.5 |
13.2 |
3 |
5 |
4 |
2 |
| USAF |
240,573 |
260,243 |
320,333 |
479,799 |
8.2 |
23.1 |
49.8 |
22.4 |
17.6 |
20.5 |
23.3 |
1 |
1 |
1 |
1 |
| Utah |
6,936 |
9,695 |
8,295 |
8,507 |
39.8 |
-14.4 |
2.6 |
0.6 |
0.7 |
0.5 |
0.4 |
25 |
25 |
26 |
29 |
| Vermont |
1,117 |
1,866 |
5,432 |
3,779 |
67.1 |
191.1 |
-30.4 |
0.1 |
0.1 |
0.3 |
0.2 |
36 |
36 |
31 |
35 |
| Washington |
13,858 |
27,022 |
14,358 |
18,267 |
95.0 |
-46.9 |
27.2 |
1.3 |
1.8 |
0.9 |
0.9 |
14 |
15 |
21 |
20 |
| Wisconsin |
67,135 |
59,331 |
76,345 |
75,975 |
-11.6 |
28.7 |
-0.5 |
6.3 |
4.0 |
4.9 |
3.7 |
5 |
8 |
8 |
8 |
| Total |
1,073,148 |
1,479,200 |
1,562,817 |
2,057,255 |
37.8 |
5.7 |
31.6 |
100.0 |
100.0 |
100.0 |
100.0 |
|
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| NOTES: These numbers do not include IRS offsets or mandatory assignments. Details may not add to totals due to rounding. Calculations are based on numbers before rounding. |
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| Part IV FFEL Program and FDLP Defaults and Collections | CONTENTS < BACK NEXT > |
| Federal Student Loan Programs Data Book - FY 1997-FY 2000 |
|