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Federal Student Financial Aid

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					        A National Profile of Programs in
       Title IV of the Higher Education Act




National Association of Student Financial Aid Administrators
Information in this Profile


   General descriptions of the federal student aid
    programs

   Current federal appropriations and number of award
    recipients

   Family income levels of students who receive federal
    student aid

   Recent trends in federal student financial aid program
    appropriations
Federal Student Aid Programs Authorized by Title IV
of the Higher Education Act



    Federal Pell Grants
    Federal Supplemental Educational Opportunity
     Grants
    Federal Work-Study
    Federal Perkins Loans
    Leveraging Educational Assistance Partnerships
    Federal Stafford Subsidized Loans (FFEL & Direct)
    Federal Stafford Unsubsidized Loans (FFEL & Direct)
    Federal PLUS Loans (FFEL & Direct)
The Federal
 Pell Grant
 Program
General Information on the Federal
Pell Grant Program

  Federal Pell Grants provide grants to low-income
   undergraduates with the greatest demonstrated
   financial need.

  Most graduate and professional students are
   ineligible.

  Financial need is determined when students apply for
   financial aid.

  The minimum and maximum Pell Grant awards are
   set by Congress.
Pell Grant Recipient and
Funding Information

  In fiscal year (FY) 2000 (the 2000-2001 academic year),
   approximately 3.9 million undergraduates received Federal Pell
   Grants; the average award was $1,959, and the maximum grant
   was $3,300.

  In FY 2001, the appropriation for the Pell Grant program is $8.7
   billion; the maximum award is $3,750.

  From 1989-1990 to 2000-2001, the number of Pell Grant
   recipients increased 18%, but the average award grew only 2%.

  During the 1990s, cost of attendance at four-year public
   colleges rose 28%.
Federal Pell Grants Recipients in 1999-2000,
by Family Income Level


                                          $40,000 &
               $30,000 to                                                Less than
                                            Over
                $39,999                                                   $10,000
                                             5%
                  11%                                                       36%



        $20,000 to
         $29,999
           21%
                                                    $10,000 to
                                                     $19,999
                                                       27%

   In 1999-2000, 84% of the Federal Pell Grant recipients came from
    families with annual incomes of $30,000 or less.

   The median family income of Pell Grant recipients was $15,118.
    Source: U.S. Department of Education, National Center for Education Statistics, 2000 National Postsecondary
    Student Aid Study, Undergraduate Data Analysis System, August 2001.
Federal Pell Grant Recipients in 1999-2000,
by Institutional Type


                       Public 2-
                         Year                                                     Public 4-
                        35%                                                         Year
                                                                                    35%



                   Proprietary                                               Private 2-
                      12%                          Private 4-                  Year
                                                     Year                       2%
                                                     16%


   Seventy percent of Pell Grant recipients attended public
    institutions.
   Over 50% of recipients attended public or private four-year
    colleges and universities.
     Source: U.S. Department of Education, National Center for Education Statistics, 2000 National
     Postsecondary Student Aid Study, Undergraduate Data Analysis System, August 2001.
Recent Trends in Federal
Pell Grant Appropriations

      Federal Appropriation (in millions)
                                            $9,000
                                                                              $7,987                                                   $7,765            $7,640
                                            $8,000         $6,957                                   $6,709          $6,620
                                            $7,000                                                                                           $7,233
                                            $6,000
                                            $5,000                            $6,176               $5,519               $5,780
                                                              $4,935
                                            $4,000
                                            $3,000
                                            $2,000
                                            $1,000
                                              $-
                                                      FY 1990             FY 1992             FY 1994            FY 1996            FY 1998            FY 2000

                                                             Adjusted for Inflation                                   Not Adjusted for Inflation

                                                     Sources: U.S. Department of Education, Pell Grant End of Year Report, 1998-99.; U.S. Department
                                                     of Education, Department of Education Appropriations History. U.S. Department of Education Web
                                                     site (www.ed.gov/offices/OUS/budnews.html).



  From FY 1990 to FY 2000, appropriations for Pell Grants grew 55% in
   current dollars, but rose just 10% when adjusted for inflation .
Recent Trends in the Maximum Federal
Pell Grant Award


            $3,500       $3,242                                                                   $3,221                 $3,300
                                             $3,104                    $2,829
            $3,000                                               $2,796                              $3,000
            $2,500
                                                                                  $2,470
            $2,000      $2,300 $2,400                          $2,300
            $1,500

            $1,000

              $500

              $-
                     FY 1990        FY 1992            FY 1994           FY 1996           FY 1998           FY 2000

                             Adjusted for Inflation                                  Not Adjusted for Inflation

                       Sources: U.S. Department of Education, Pell Grant End of Year Report, 1998-99 ; U.S. Department
                       of Education, Department of Education Fiscal Year 2001 Congressional Action. U.S. Department of
                       Education Web site (www.ed.gov/offices/OUS/budnews.html).




   During the 1990s, the maximum Pell Grant grew 43% in current dollars,
    but rose only 2% in inflation-adjusted value.
   The maximum Pell Grant covers only 40% of the cost of attendance at
    four-year public colleges.
   The Federal
  Supplemental
   Educational
Opportunity Grant
    Program
    (FSEOG)
FSEOG General
Information

  The FSEOG Program provides grants to low-income undergraduate
   students at all types of postsecondary education institutions.

  FSEOG awards generally supplement the financial aid students receive
   from other sources.

  Graduate and professional students are ineligible for FSEOG awards.

  Financial aid administrators use federal program guidelines to distribute
   FSEOG awards to students; first priority must be given to students who
   receive Pell Grants.

  Postsecondary education institutions receive federal funds to distribute
   FSEOG awards; these institutions must match 25 percent of their
   federal FSEOG allocations with funds from their own resources.
FSEOG Funding and Recipient
Information


  For the 2001-2002 academic year, the federal
   appropriation for the FSEOG Program was $691
   million.

  Approximately 1.2 million students received FSEOG
   awards. Award amounts ranged from $100 to $4,000.
   The average award was $727.

  From 1989-1990 to 2001-2002, the number of
   FSEOG recipients increased 64%, but the average
   award declined 30%.
FSEOG Recipients in 1999-2000, by Family
Income Level


                                  $40,000 & Over
             $30,000 to                                                      Less than
                                        5%
              $39,999                                                         $10,000
                11%                                                            36%


       $20,000 to
        $29,999
          21%
                                                $10,000 to
                                                 $19,999
                                                   27%
   In academic year 1999-2000, 86% of FSEOG recipients came
    from families with incomes of less than $30,000.
   The median family income of FSEOG recipients was $13,445.

     Source: U.S. Department of Education, National Center for Education Statistics, 2000 National
     Postsecondary Student Aid Study, Undergraduate Data Analysis System, August 2001.
FSEOG Recipients in 1999-2000, by
Institutional Type

                                                  Public 2-
                                                    Year
                                                   26%
                    Proprietary
                       15%
                                                                                 Public 4-
                                                                                   Year
                                                                                   33%
                                 Private 4-                     Private 2-
                                   Year                           Year
                                   24%                             2%

   In 1999-2000, nearly 60% of FSEOG awardees were enrolled at public
    institutions.
   Fifty-seven percent of recipients attended public or private four-year
    colleges and universities.
   About one-quarter of the recipients attended public two-year colleges.

     Source: U.S. Department of Education, National Center for Education Statistics, 2000 National
     Postsecondary Student Aid Study, Undergraduate Data Analysis System, August 2001.
Recent Trends in
FSEOG Appropriations

                                             $800                                   $746
       Federal Appropriation (in millions)
                                                             $647                                               $709              $668
                                             $700                                                                                                       $660
                                             $600                                                                                                                    $631
                                                                                                          $583                  $583                   $614
                                                                                      $577
                                             $500
                                             $400                 $459
                                             $300
                                             $200
                                             $100
                                             $-
                                                         FY 1990               FY 1992              FY 1994              FY 1996               FY 1998          FY 2000

                                                                        Adjusted for Inflation                                 Not Adjusted for Inflation
                                                    Sources: U.S. Department of Education, Campus-Based Programs Data Book , 1998 ; U.S. Department
                                                    of Education, Department of Education Fiscal Year 2001 Congressional Action. U.S. Department of Education
                                                    Web site (www.ed.gov/offices/OUS/budnews.html).



  From FY 1990 to FY 2000, federal FSEOG appropriations grew
   37% in current dollars, but declined 2% when adjusted for
   inflation.
The Federal
Work-Study
 Program
  (FWS)
Federal Work-Study
General Information

  The FWS Program provides part-time jobs to undergraduate
   and graduate/professional students at all types of
   postsecondary education institutions.

  FWS earnings are to be used to help pay postsecondary
   education expenses.

  Financial aid administrators use federal program guidelines to
   distribute FWS awards to students.

  Postsecondary education institutions receive federal funds to
   distribute FWS awards; most institutions must match 25 percent
   of their federal FWS allocations with funds from their own
   resources.
FWS Funding and Recipient
Information

  For 2001-2002, the federal appropriation for the FWS Program
   is $1.01 billion. This represents an 8% increase over the
   amount provided in 1999-2000.

  Approximately 1 million students received FWS awards. The
   average award was $1,065.

  About 94% of the recipients were undergraduates.

  From 1989-1990 to 2000-2001, the number of FWS recipients
   has increased 44%, but the average FWS declined 14% in
   inflation-adjusted value.
Undergraduate Federal Work-Study Recipients in
1999-2000, by Family Income Level

                                                                    Less than
                                                                     $10,000
                                                                      19%
        $40,000 & Over
             40%

                                                                                     $10,000 to
                                                                                      $19,999
                                                                                        14%
                                $30,000 to                          $20,000 to
                                 $39,999                             $29,999
                                   12%                                 15%


    In 1999-2000, 48% of the undergraduates who received FWS
     awards came from families with incomes of less than $30,000.

    The median income level of undergraduate recipients was
     $30,967.

      Source: U.S. Department of Education, National Center for Education Statistics, 2000 National
      Postsecondary Student Aid Study, Undergraduate Data Analysis System, August 2001.
Undergraduate FWS Recipients in 1999-
2000, by Institutional Type


                                                          Public 2-
                                      Proprietary           Year
                                         1%                14%


                     Private 4-                                           Public 4-
                       Year                                                 Year
                       48%                                                  36%
                                                     Private 2-
                                                       Year
                                                        1%

   One-half of FWS recipients attended public institutions.
   Forty-nine percent attended private institutions.
   Nearly 85% of FWS recipients attended a public or private four-
    year college or university.


     Source: U.S. Department of Education, National Center for Education Statistics, 2000 National
     Postsecondary Student Aid Study, Undergraduate Data Analysis System, August 2001.
Recent Trends in
FWS Appropriations

      Federal Appropriation (in millions)
                                            $1,000                                                                                                                 $934
                                                             $849                                                                                $891
                                              $900
                                                                                     $795
                                              $800                                                       $750            $707                        $830
                                              $700
                                              $600                                                       $617                  $617
                                                             $602                    $615
                                              $500
                                              $400
                                              $300
                                              $200
                                              $100
                                              $-
                                                        FY 1990              FY 1992              FY 1994               FY 1996              FY 1998             FY 2000


                                                                 Adjusted for Inflation                                    Not Adjusted for Inflation
                                                     Sources: U.S. Department of Education, Campus-Based Programs Data Book , 1998 ; U.S. Department
                                                     of Education, Department of Education Fiscal Year 2001 Congressional Action. U.S. Department of Education
                                                     Web site (www.ed.gov/offices/OUS/budnews.html).




  From FY 1990 to FY 2000, FWS appropriations grew 55% in current
   dollars, and rose 10% in inflation -adjusted value.
The Federal
Perkins Loan
  Program
Federal Perkins Loans
General Information

  The Perkins Loan Program provides low-interest loans (5% fixed
   interest rate) to financially needy undergraduate and
   graduate/professional students at all types of postsecondary
   education institutions.
  The maximum annual loan is $4,000 for undergraduates and
   $6,000 for graduate/professional.
  Financial aid administrators use federal program guidelines to
   distribute Perkins Loans to students; first priority must be given
   to students with “exceptional” financial need.
  Postsecondary education institutions receive federal funds to
   distribute Perkins Loans.
  Most students must repay the loans nine months after they fall
   below half-time attendance status at accredited postsecondary
   education institutions.
Federal Perkins Loans
Funding Sources

 The revolving loan fund for Federal Perkins Loans
  comes from several sources:
      Federal appropriations for new loans (known as the
       Federal Capital Contributions or FCCs) - allocated to
       participating institutions based on a formula set in the
       Higher Education Act
      Matching funds from the institutions - institutions must
       match at least 33% of the FCC amounts they receive
      Repayments of Perkins Loans from previous borrowers
       - used to make new loans


 The total amount of the loan fund is about $6 billion.
Federal Perkins Loans
Loan Forgiveness Provisions


   Perkins Loan borrowers may have all or a portion of
    their loans forgiven (repaid by the federal
    government) if they:
        Die, become permanently and totally disabled, or
         declare bankruptcy
        Teach in a low-income elementary or secondary school
         district
        Volunteer for the Peace Corps
        Engage in certain police, medical, or military service


   A separate Perkins Loan appropriation is provided to
    institutions to reimburse them for loan cancellations.
Perkins Loan Recipient and Funding
Information

  In 2000-2001, approximately 700,000 students received Federal
   Perkins Loans; the average loan was $1,564.

  About 87% of the recipients were undergraduates.

  The federal appropriation for Perkins Loan Federal Capital
   Contributions (FCCs) was $100 million; the amount appropriated
   for loan forgiveness was $60 million.

  From 1989-1990 to 2000-2001, the number of Perkins Loan
   awards increased about 1%, while the average award declined
   12%.
Undergraduate Federal Perkins Loan Recipients
in 1999-2000, by Family Income Level


                $40,000 &                                             Less than
                  Over                                                 $10,000
                  33%                                                    20%




                                                                                     $10,000 to
                                                                                      $19,999
                $30,000 to                                                              16%
                                                           $20,000 to
                 $39,999                                    $29,999
                   15%                                        16%

    In 1999-2000, 52% of the undergraduates who received Federal
     Perkins Loans came from families with incomes of $30,000 or
     less.
    The median family income of Perkins Loan recipients was
     $30,681.
      Source: U.S. Department of Education, National Center for Education Statistics, 2000 National
      Postsecondary Student Aid Study, Undergraduate Data Analysis System, August 2001.
Undergraduate Federal Perkins Loan Recipients
in 1999-2000, by Institutional Type


                                                         Proprietary           Public 2-
                                                            4%                   Year
                        Private 4-                                               0%
                          Year
                          46%


                                                                             Public 4-
                                 Private 2-                                    Year
                                   Year                                        49%
                                    1%

    Nearly 50% of Perkins Loan recipients attended public
     institutions.
    Forty-seven percent of recipients attended private institutions.
    Ninety-five percent of Perkins Loan recipients attended four-
     year institutions.

      Source: U.S. Department of Education, National Center for Education Statistics, 2000 National
      Postsecondary Student Aid Study, Undergraduate Data Analysis System, August 2001.
Recent Trends in Perkins Loans FCC Appropriations
(in Current and Inflation-Adjusted Dollars)


      Federal Appropriation (in millions)


                                            $250
                                                     $190        $202
                                            $200                                  $192
                                                                                                           $145
                                            $150                          $158
                                                                $156                       $106
                                                     $135                                                $135
                                            $100                                                                              $100
                                                                                           $93
                                            $50

                                            $-
                                                   FY 1990   FY 1992      FY 1994        FY 1996       FY 1998         FY 2000

                                                                Adjusted for Inflation           Not Adjusted for Inflation


    From FY 1990 to FY 2000, the federal appropriation for Perkins
     Loan FCCs fell from $135 million to $100 million - a 26% decline
     in current dollars and a 47% decrease when adjusted for
     inflation.
 Leveraging
Educational
 Assistance
Partnerships
   (LEAP)
LEAP General Program
Information

 Federal LEAP funds are allocated to state higher
  education agencies, which must use the funds to
  provide state grants and/or work-study funds to
  financially needy undergraduate and
  graduate/professional students.

 State agencies must match at least 50 percent of
  their federal LEAP allocations with dollars from their
  own resources.

 In most states, federal LEAP funds account for less
  than 1% of total spending on state need-based aid.
LEAP Recipient and
Funding Information


  For the 2001-2002 academic year, $55 million in federal funds
   was appropriated for the LEAP program. This is a $15 million
   increase over the previous year.

  In 1999-2000, the total amount available to students for need-
   based state scholarships was $3.2 billion; 99% of these funds
   were awarded to undergraduates.

  About 2.1 million students received state need-based grant
   awards; the average award was $1,663.

  During the 1990s, the number of students who received state
   need-based grants grew 9%, while the average award increased
   29% in inflation-adjusted value.
Undergraduate State Need-Based Grant Recipients
in 1999-2000, by Family Income Level


                             $40,000 &                                     Less than
                               Over                                         $10,000
                               23%                                           24%



            $30,000 to
             $39,999
              11%
                                 $20,000 to                                 $10,000 to
                                  $29,999                                    $19,999
                                   18%                                        24%


   In 1999-2000, about two-thirds of the undergraduates who
    received state need-based grants came from families with
    incomes below $30,000.
   The median income of state need-based grant recipients was
    $20,751.
     Source: U.S. Department of Education, National Center for Education Statistics, 2000 National
     Postsecondary Student Aid Study, Undergraduate Data Analysis System, August 2001.
Undergraduate State Need-Based Grant Recipients
in 1999-2000, by Institutional Type



                                   Public 2-                                Public 4-
                                     Year                                     Year
                                    36%                                       35%


                            Proprietary
                               4%                                         Private 2-
                                                     Private 4-             Year
                                                       Year                  1%
                                                       24%


    Over 70% of need-based grant recipients attended public
     institutions.
    Fifty-nine percent of need-based grant recipients attended 4-
     year institutions.

      Source: U.S. Department of Education, National Center for Education Statistics, 2000 National
      Postsecondary Student Aid Study, Undergraduate Data Analysis System, August 2001.
Recent Trends in LEAP Appropriations
(in Current and Inflation-Adjusted Dollars)



                                                                                $92
       Federal Appropriations (in millions)
                                              $100
                                               $90       $83                                              $87
                                               $80
                                               $70
                                                                                 $71              $72
                                               $60
                                               $50        $59
                                                                                                                                 $37                                          $40
                                               $40
                                                                                                                                                    $27
                                               $30
                                                                                                                        $32
                                               $20                                                                                                   $25
                                               $10
                                              $-
                                                     FY 1990              FY 1992                FY 1994                FY 1996                FY 1998                FY 2000

                                                                               Adjusted for Inflation                             Not Adjusted for Inflation
                                                      Sources: The College Board, Trends in Student A id, 1989-1990 to 1999-2000; U.S. Department of Education, Department of
                                                      Education Fiscal Year 2001 Congressional A ction. U.S. Department of Education Web site (www.ed.gov/offices/OUS/01app.pdf




    From FY 1990 to FY 2000, federal LEAP appropriations
     declined from $59 million to $40 million - a 32% decline in
     current dollars and a 52% decrease when adjusted for inflation.
Federal Family Education
 Loan Program (FFELP)

          and

 William D. Ford Direct
 Student Loan Program
General Information on
Federal Student Loan Programs


   Both the FFELP and Direct Loan Programs provide low-interest loans
    to undergraduate and graduate/professional students.

   The interest rates for these loans are variable and are set on July 1
    each year.

   The loan capital for FFELP is provided by banks and other lenders;
    capital for Direct Loans is provided by the federal government.

   Amounts students receive are based on their academic grade level,
    financial need, financial dependency status, and other factors.

   Most students must begin to repay their loans six months after they fall
    below half-time attendance status at an accredited postsecondary
    institution.
Three Types of
Federal Student Loans

 There are three types of student loans provided by
  the FFELP and Direct Loan programs:
      Stafford Subsidized Loans--provided based on students’
       demonstrated financial need; federal program appropriations
       are provided to pay borrowers’ accrued interest while they
       are enrolled in school.
      Stafford Unsubsidized Loans--not need-based; borrowers
       are responsible for the accrued interest on the loans.
      PLUS Loans--provided to the parents of financially
       dependent undergraduates; parents are allowed to borrow
       up to the full amount of their child’s demonstrated need;
       parents must pass a credit check to be eligible for the loans.
Subsidized and Unsubsidized Loans
Loan Deferment & Cancellation Provisions



    Stafford Subsidized & Unsubsidized Loan borrowers may defer
     (temporarily delay) their loan repayments if they:
        Re-enroll at least half-time an accredited postsecondary education
         institution
        Volunteer for the Peace Corps or other eligible community service
         project
        Engage in certain public health or military service
        Borrowers who encounter financial or medical difficulties may
         receive loan forbearance.
        Loan repayments are cancelled for borrowers who die, become
         permanently and totally disabled, or declare bankruptcy.
        A portion of loan repayments may be cancelled for borrowers who
         become full-time child care workers, teach in low-income areas, or
         engage in other community services.
FFEL and Direct Loan Maximum
Annual Loan Limits

  Stafford Subsidized & Unsubsidized Loans--Base Loan Limits:
     $2,625 for 1st Year Undergraduates
     $3,500 for 2nd Year Undergraduates
     $5,500 for each remaining year of undergraduate study
     $8,500 for graduate and professional students


  Additional Stafford Unsubsidized Loan Eligibility for Independent
   Undergraduates, Graduate Students, and Dependent Undergraduates
   Whose Parents Are Ineligible for PLUS Loans:
     $4,000 per year for 1st & 2nd Year undergraduates
     $5,000 per year for remaining undergraduate study
     $10,000 per year for graduate and professional study
Recent FFEL and Direct Loan Recipient
Information



   In FY 2000, about 9.4 million loans were issued to
    students under the FFEL and Direct Loan programs:
        5.2 million Stafford Subsidized Loans
        3.6 million Stafford Unsubsidized Loans
        565,000 PLUS Loans


   The average loan was:
        Subsidized: $3,556
        Unsubsidized: $4,132
        PLUS: $7,097
Recent Federal Student
Loan Volume

  In FY 2000, $37.5 billion was borrowed under
   the FFEL and Direct Loan programs:

      $18.6 billion in Stafford Subsidized Loans
      $14.9 billion in Stafford Unsubsidized
       Loans
      $4 billion in PLUS Loans
Undergraduate Federal Stafford Subsidized Loan
Recipients in 1999-2000, by Family Income Level


                                                $80,000 &                      Less than
                      $60,000 to                  Over                          $20,000
                       $79,999                     7%                             38%
                         10%


           $40,000 to
            $59,999
              18%

                                            $20,000 to
                                             $39,999
                                               27%

  In 1999-2000, 65% of the undergraduates who received subsidized
   loans came from families with annual incomes of less than
   $40,000.

  The median income of subsidized loan borrowers was $27,225.
    Source: U.S. Department of Education, National Center for Education Statistics, 2000 National
    Postsecondary Student Aid Study, Undergraduate Data Analysis System, August 2001.
Undergraduate Stafford Subsidized Loan
Recipients in 1999-2000, by Institutional Type


                                                                   Public 2-
                                  Proprietary                        Year
                                     14%                            12%


                         Private 4-
                           Year
                           27%                                                 Public 4-
                                         Private 2-                              Year
                                           Year                                  46%
                                            1%

    Almost 60% of subsidized loan recipients attended public
     institutions.
    Twenty-eight percent attended private institutions.
    Nearly 75% of subsidized loan recipients attended four-year
     institutions.

      Source: U.S. Department of Education, National Center for Education Statistics, 2000 National
      Postsecondary Student Aid Study, Undergraduate Data Analysis System, August 2001.
Undergraduate Federal Stafford Unsubsidized Loan
Recipients in 1999-2000, by Family Income Level


                               $80,000 &                                Less than
                                 Over                                    $20,000
                                  20%                                      32%


          $60,000 to
           $79,999
             14%
                    $40,000 to                                 $20,000 to
                     $59,999                                    $39,999
                       15%                                        19%

   In academic year 1999-2000, 51% of the Stafford Unsubsidized
    Loan recipients came from families with incomes of less than
    $40,000.
   The median family income of undergraduates who received
    unsubsidized loans was $37,367.
     Source: U.S. Department of Education, National Center for Education Statistics, 2000 National
     Postsecondary Student Aid Study, Undergraduate Data Analysis System, August 2001.
Undergraduate Stafford Unsubsidized Loan
Recipients in 1999-2000, by Institutional Type


                                 Public 2-
                                   Year                                        Public 4-
                                  12%                                            Year
                                                                                 46%
                      Proprietary
                         19%
                                             Private 4-                Private 2-
                                               Year                      Year
                                               22%                        1%

    Nearly 60% of unsubsidized loan recipients attended public
     institutions.
    Twenty-three percent attended private institutions.
    Almost 70% of unsubsidized loan recipients attended four-year
     institutions.
      Source: U.S. Department of Education, National Center for Education Statistics, 2000 National
      Postsecondary Student Aid Study, Undergraduate Data Analysis System, August 2001.
Undergraduate Federal PLUS Loan Recipients in 1999-
2000, by Family Income Level


                                                        Less than
                     $80,000 &                           $20,000
                                                                             $20,000 to
                       Over                                8%
                                                                              $39,999
                       30%
                                                                                16%




                             $60,000 to                                $40,000 to
                              $79,999                                   $59,999
                                24%                                       22%

    In 1999-2000, more than half of the undergraduates who
     received PLUS loans came from families with incomes of
     $60,000 or more.
    The median family income of PLUS borrowers was $63,827.
      Source: U.S. Department of Education, National Center for Education Statistics, 2000 National
      Postsecondary Student Aid Study, Undergraduate Data Analysis System, August 2001.
Undergraduate Federal PLUS Loan Recipients in
1999-2000, by Institutional Type


                                 Proprietary
                                    13%

                                                                                     Public 4-Yr
                                                                                       45%



            Private 4-Yr
               40%
                                                            Private lt 4-Yr
                                                                 2%
    About 45% of PLUS recipients attended public 4-year
     institutions.
    Forty percent attended private 4-year colleges and universities.
    The number of PLUS recipients at two-year public colleges was
     too low to be measured.
      Source: U.S. Department of Education, National Center for Education Statistics, 2000 National
      Postsecondary Student Aid Study, Undergraduate Data Analysis System, August 2001.
Recent Trends in Federal Student Loan Volume
(in Inflation-Adjusted Dollars)


       Loan Volume (in millions)   $25,000

                                                                                $18,835             $19,424
                                   $20,000       $17,983         $17,710                                             $18,709
                                                                                                                                   $17,490

                                   $15,000                                                        $12,048       $12,417 $12,899
                                                                                $10,418
                                                                 $9,584
                                   $10,000
                                                  $5,846
                                    $5,000                                             $2,874          $3,244           $3,478 $3,323
                                                       $2,128         $2,451
                                      $-
                                                FY 1994        FY 1995          FY 1996         FY 1997          FY 1998         FY 1999

                                             Stafford Subsidized                     Stafford Unsubsidized                        PLUS

                                                           Stafford Subsidized and Unsubsidized Loans, and PLUS Loans borrowed through the
                                                  * Includes
                                                  Federal Family Education Loan and Federal Direct Student Loan programs.


    From FY 1994 to FY 1999, the amount of Stafford Unsubsidized
     borrowing jumped 121%.
    PLUS Loan volume grew 56%.
    Stafford Subsidized Loan volume, however, fell 3%.

				
DOCUMENT INFO
Description: Federal Student Financial Aid document sample