HomePersonal FinanceFederal Family Education Loan Program (FFEL)

Federal Family Education Loan Program (FFEL)

Last updated 29th Nov 2022


Created by the Higher Education Act of 1965, the Federal Family Education Loan Program, or FFEL Program, includes Subsidized Federal Stafford Loans, Unsubsidized Federal Stafford Loans, Federal Parent Loans for Undergraduate Students (PLUS), and Federal Consolidation Loans.


Prior to July 1, 2010, private lenders provided Stafford, PLUS, and Consolidation Loans under the Federal Family Education Loan Program. These loans were guaranteed by guarantors, and reinsured by the federal government. These loans were managed and collected by the lender or agency that holds the loan. Typical lenders were banks, credit unions, and savings and loan associations.

This program was eliminated by the Health Care and Education Reconciliation Act of 2010. New student loans are now available directly from the U.S. Department of Education's Direct Loan Program. Students that received loans under the FFEL Program need to reapply to receive loans under the Direct Loan Program.

Related Terms

Student Loans, Federal Stafford Loans, PLUS Loans, Direct Loans

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