Based On New Information, SLA Now Estimates Over 85% of FFEL Loans To Be Financed Through ECASLA Programs

The Department is now providing updated information as of September 15th for the 2008-09 Loan Purchase Commitment Program.  It lists $20.1 billion worth of FFEL loans that have been sold to the Department and in a footnote indicates that $30.3 billion is scheduled to be sold within 45 days.  This gets to $50.4 billion in total loans sold divided by $58.7 billion in total FFEL volume disbursed, or 85.9% of FFEL loans. 

We should have a final accounting within the next several weeks.  This number has consistently grown as lenders have accelerated their sales to the Department with the October deadline looming.