### Question
How does William D. Ford Federal Direct Loan Program define new student loan volume?


### Answer
Under *20 U.S.C. § 1087c*, **new student loan volume** is defined as:

> the estimated sum of all loans (other than consolidation loans) that will be made, insured or guaranteed under this part and part B of this subchapter in the year for which the determination is made

#### Citation:
  - *20 U.S.C. § 1087c*
  - Heading: **CHAPTER 28-HIGHER EDUCATION RESOURCES AND STUDENT ASSISTANCE > SUBCHAPTER IV-STUDENT ASSISTANCE > Part C-William D. Ford Federal Direct Loan Program**

