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Briefing on the National Default Rates

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Briefing on the National Default Rates. September 16, 2003. For more information visit: ... National Default Rates. September 16, 2003. Annual Operations ... – PowerPoint PPT presentation

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Title: Briefing on the National Default Rates


1
Briefing on the National Default Rates September
16, 2003
For more information visit www.ed.gov/offices/OSF
AP/defaultmanagement/cdr.html
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FSA OVERVIEW
Scope of Operations
  • Annual Operations Fiscal Year 2002
  • 12 million aid applications
  • 8 million aid recipients
  • 56.5 billion delivered in total new federal aid
  • 32 billion delivered in consolidation loans
  • 34 million inbound and outbound customer service
    phone calls
  • 25 million Direct Loan borrower payments
    processed
  • 20 billion hits to FSA Web sites
  • 41 million pieces of mail alone sent out to aid
    applicants during the most recent annual cycle

7
FSA OVERVIEW
Scope of Operations
  • Current Student Loan Portfolio
  • 22 million borrowers with outstanding loans
  • 287 billion in outstanding loans
  • Includes
  • Direct Loans held by ED
  • Federal Family Education Loan Program (FFELP)
    loans held by lenders
  • Defaulted FFELP loans held by guaranty agencies
    (GAs)
  • Defaulted loans (all programs) held by ED
  • Perkins Loans held by schools

8
Total Federal Student Loan Portfolio
PROGRAMS AND STATISTICS
287 Billion
9
PROGRAMS AND STATISTICS
Distribution of Aid Types Fiscal Year 2002
2
24
74
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