Of the schools that provided federal student loans in each year since
1994-95, approximately 1,200—or 29 percent—provided loans through the
Direct Loan Program, and most of those schools continued to participate
in the Direct Loan Program in school year 2001-02. In 2001-02, public
4-year schools provided the largest share of Direct Loan volume, about
$6.9 billion, or 67 percent, although roughly equal numbers of public
4-year, private 4-year, 2-year, and less-than-2-year schools participated.