| Table 12. Monthly Income and Expenses, and Expense/Income Ratio for Borrowers, Across All Years | |||||||||
| Fiscal Year | |||||||||
| Not reported | FY 2001 | FY 2002 | FY 2003 | FY 2004 | FY 2005 | FY 2006 | FY 2007 | FY 2008 | |
| Median monthly income | $2,644.00 | $1,851.00 | $2,000.00 | $2,529.00 | $2,500.00 | $2,215.50 | $2,187.50 | $2,600.00 | $2,461.00 |
| Median monthly expenses | $1,391.88 | $1,000.00 | $861.46 | $936.50 | $1,088.00 | $1,000.00 | $896.50 | $1,123.00 | $1,175.00 |
| Median Monthly Expenses / Median Monthly Income (ratio) | 0.53 | 0.54 | 0.43 | 0.37 | 0.44 | 0.45 | 0.41 | 0.43 | 0.48 |
| Source: FYs 2001, 2002, 2003, 2004, 2005, 2006, 2007, and 2008 Annual Program Data | |||||||||
Notes:
Lower ratios indicate a borrower has a greater positive difference between their monthly expenses and income. Higher ratios indicate less money left over at the end of each month.
AFP loan programs began their history issuing loans to individuals with relatively poorer expense/income ratios. After a slight reversal the programs are again moving toward a somewhat riskier market niche.