Federal Family Education Loan Program (FFEL)

The Federal Family Education Loan (FFEL) Program was a government initiative that provided federal loans to students and their families to help pay for higher education. These loans were issued by private lenders but backed by the U.S. Department of Education, ensuring repayment if necessary. The program offered various loan options with fixed interest rates and flexible repayment plans. In 2010, the FFEL Program was discontinued, and most federal student aid now comes directly from the government through the William D. Ford Federal Direct Loan Program.