Federal Family Education Loan Program

The Federal Family Education Loan Program (FFELP) was a government-backed initiative that provided student loans to help people pay for college. It allowed private lenders to offer loans to students, with the federal government guaranteeing repayment, which made lenders more willing to issue loans. Although the program was popular for many years, it ended in 2010, replaced by the direct loan program, where loans are issued directly from the government to students. FFELP helped millions of students afford their education by making loans more accessible and affordable.