Based on data provided by the Department of Education's Data Center, here are the year-over-year changes (for the Sept. 2009 quarter) between the Federal Family Education Loan (FFEL) and Direct Lending federal loan programs (loan disbursements in millions of dollars):
| Percent | Percent | ||||
| Program | 9/30/2009 | Of Total | 9/30/2008 | Of Total | |
| FFEL | $13,443.56 | 58% | $16,248.90 | 71% | |
| Direct Lending | $ 9,879.90 | 42% | $ 6,703.14 | 29% | |
| TOTAL | $23,323.46 | $22,952.04 |
Analysis:
- Overall, federal loan disbursements (Stafford, PLUS, Grad PLUS) rose only 1.6% compared to the same quarter a year ago. Remember that it was in July of 2008 that loan limits on unsubsidized Stafford loans were increased.
- In terms of loan volumes disbursed, Direct Lending saw a 47% increase while FFEL disbursements fell by 17%. Citibank's Student Loan Corporation noted in their recent earnings release that their FFEL loan volume had fallen by 10% due to "schools moving from the FFEL Program to the Department of Education`s Direct Lending Program." In an SLA survey completed in July, 56% of respondents had indicated that they would remain in FFELP for 2009-10.
- Analyzing each of the loan programs separately shows the most significant growth in the GradPLUS program, which saw a 20% increase on a year-over-year basis (loan disbursements in millions of dollars):
| Loan Type | 9/30/2009 | 9/30/2008 | Change |
| Stafford Sub | $8,622.37 | $8,818.83 | -2% |
| Stafford Unsub. | $10,588.53 | $10,268.73 | 3% |
| Parent PLUS | $2,602.08 | $2,602.15 | 0% |
| Grad PLUS | $1,510.49 | $1,262.33 | 20% |
| TOTAL | $23,323.46 | $22,952.04 | 2% |
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Please note that data provided on the federal loan programs is refreshed quarterly, so these figures are subject to adjustment.
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