Here are the full results of the recent SLA Flash Survey on FFEL and Direct Lending Trends: Download FFEL_DL_Flash_Mar_2010
Here is a summary of the results based on responses from 365 survey participants:
- Seventy-two percent (72%) of respondents to the survey are currently in Direct Lending (24% of respondents) OR have committed to move to DL for the 2010-11 school year (48%).
- These figures are up from the November 2009 survey when 47% of respondents were either in Direct Lending (24%) OR committed to move to DL for 2010-11 school year (23%).
- Seventeen percent (17%) of respondents indicated that they were preparing for DL but had not fully committed to implementing it.
- Only 2% indicated that they would "only begin preparations for a transition to Direct Lending when required by legislation."
- Overall, 2% of survey respondents indicated that they had not completed any of the listed activities (there were twelve in the survey) to prepare for a possible transition to Direct Lending.
- Ninety-seven percent (97%) of schools found the direct lending implementation process to be acceptable or better
- Sixteen percent (16%) of respondents indicated that they were "very satisfied", 52% "satisfied" and 29% found it the implementation process to be "acceptable."
- Over 2/3 of respondents "agree" or "strongly agree" that their school administration is interested in having a contingency plan in place to implement Direct Lending by July 1, 2010.
- The five most frequently cited activities that respondents are undertaking/have undertaken to prepare to implement Direct Lending are:
- Participating in Direct Lending webinars
- Contacting the COD School Relations Center to request participation in DL program
- Reviewing materials on the Direct Lending website
- Updating the Program Participation Agreement
- Attended the Federal Student Aid Conference