Here is a PowerPoint summarizing the survey results: Download FFEL_DL_Flash_Nov_2009
Here is a summary of the recent SLA Flash Survey which assessed how schools are thinking about their federal loan programs for the 2010-11 academic year:
- Almost 50% of the 410 respondents to the survey are currently in Direct Lending (24% of respondents) or have committed to move to DL by the 2010-11 school year (23%).
- 39% of respondents indicated that they were preparing for DL but had not fully committed to implementing it.
- 8% indicated that they would “only begin preparations for a transition to Direct Lending when required by legislation.”
- Interestingly, 74% of this group had completed or are planning to complete some activities related to Direct Lending implementation
- Overall, 5% of survey respondents indicated that they had not completed any of the listed activities (there were eleven in the survey) to prepare for a possible transition to Direct Lending
- The top five activities that respondents are undertaking to prepare to implement Direct Lending are:
- Participating in Direct Lending webinars
- Reviewing materials on the Direct Lending website
- Attending the upcoming FSA Conference
- Updating the PPA
- Contacting the COD School Relations Center to request participation in DL program
- 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 the July 1, 2010 deadline.
- Current Direct Lending participants are most satisfied with loan processing and see the most room for improvement with value-added services, including financial literacy and default prevention.
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And now a word from our sponsor:
Don't miss SLA's upcoming webinar next Wednesday on "Creating Your Private Education Loan Lender List for 2010-11." Click here for additional details.
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