Student Loan Data reports

Student Loan Data Reports

FSA (federal loans) and Measure One (private loans) recently reported student loan performance data, as of September 30, 2018.

HIGHLIGHTS: (federal loans)

  • Loan portfolio (outstandings) $1.44Trillion; DL (80%), FFEL (20%)
  • Income-Driven Repayment (IDR) enrollment 7.2M, up 11% from 2017
  • Default

–    About 275,000 borrowers ($5.8B) in repayment defaulted

–    81% of non-defaulted DL recipients with loans in active repayment are current                 on their loans (on time or less than 31 days delinquent) creating a                                   31-day-plus delinquency rate of 18.7% by recipient count and 14.8% by total                   dollar balance

  • Borrower Defense to Repayment Report
  • 48,000 claims have been approved, resulting in nearly $535M in discharges.
  • Public Service Loan Forgiveness Report
  • 41,000 borrowers had submitted almost 50,000 applications for loan forgiveness under this program.
  • Of the approximately 45,000 applications that have been processed
  • 72% have been denied due to not meeting the program requirements*
  • 27% of PSLF applications were denied due to missing or incomplete information on the form.

*The Public Service Loan Forgiveness (PSLF) Program, which was established under the College Cost Reduction and Access Act of 2007, permits Direct Loan (DL) borrowers who make 120 qualifying monthly payments under a qualifying repayment plan, while working full-time for a qualifying employer.

HIGHLIGHTS: (private loans)

  • Loan portfolio (outstandings) $66B; In-repayment 75%; In-school/Deferment 25%
  • 92% of new originations had co-signers
  • 2018 YTD repayment performance better than 2017
This entry was posted in General by gathard. Bookmark the permalink.

About gathard

Jim Gathard is the owner and principal of National Consulting Services, LLC a New York based consulting firm providing advisory in strategic planning, risk management, and organization management to financial services and higher education organizations Mr. Gathard has expertise and senior executive experience in private sector financial services, legislative and government relations, and higher education management. He has held senior business executive positions at JPMorgan Chase and Bank of America. Prior to his private sector experience Mr. Gathard has nearly twenty years in higher education administration as Deputy Provost/Executive Vice President, Vice President for Student Services and Compliance, Dean of Enrollment Management and Director of Student Financial Services. National Consulting Services, LLC clients include a broad spectrum of publically traded and private financial services firms and not for profit and for-profit organizations including colleges and universities. In the higher education space Mr. Gathard’s primary focus is the student segment including the student financial services, access and enrollment, institutional compliance and; financial literacy and debt management. Mr. Gathard serves on and is advisor to numerous industry and community related boards. Mr. Gathard has been a NYSFAAA member for more than 30 years.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.