Washington, D.C. (PRWEB) July 20, 2005
America's Student Loan Providers (ASLP) today issued the results of a survey of schools that have left the Direct Loan program and returned to the private-sector Federal Family Education Loan (FFEL) Program. The ASLP survey, conducted by Rockbridge Associates, Inc., polled financial aid administrators (FAAs) at former Direct Loan schools to determine why more than 500 schools have left the Direct Loan program for the FFEL program.
Kevin Bruns, ASLP Executive Director, said, "These results show that thereÂs a perfectly good reason why so many schools have returned to the FFEL program  our members do a much better job meeting the needs of students and schools. We urge Congress to listen to what financial aid administrators have been saying and preserve choice and competition in federal student loans."
Among the key findings:
The research report on the survey is available on the ASLP web site(http://www.studentloanfacts.org).
AmericaÂs Student Loan Providers represents more than 80 education and financial firms and organizations that provide federally guaranteed student loans through the Federal Family Education Loan Program (FFELP), a public-private partnership of schools, students, loan providers, loan guarantors, and the federal government. By leveraging private financial markets and competing for the right to lend to students, the FFELP brings value to students, schools, and taxpayers. Students benefit through lower interest rates, and simplified loan application and approval processes. More information is available at http://www.studentloanfacts.org
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